SGB Update Outdoor
Winchester Parent Lowers Third-Quarter Guidance
Olin Corporation, Winchester’s parent company, said it now expects third-quarter 2022 adjusted EBITDA to be in the range of $530 million to $550 million, down from an estimated $620 million due to the weakening global economy.
Nordstrom Adopts ‘Poison Pill’ After Mexican Retailer Buys Stake
Nordstrom, Inc. adopted a shareholder rights plan, more commonly known as a “poison pill,” to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9 percent stake in the upscale U.S. retailer’s business.
Oxford Industries Acquires Johnny Was
Oxford Industries, Inc. announced its acquisition of Johnny Was, a California-based lifestyle apparel brand, was finalized for the purchase price of $270 million.
Headrest Safe Appoints Chief Operations And Financial Officer
The Headrest Safe Company, LLC, based in Homewood, AL, announced that Louis Tuck accepted the position as chief operations officer and chief financial officer.
Public Lands To Open Four New Stores
Public Lands, the outdoor specialty retail concept from Dick’s Sporting Goods, plans to open four new stores this fall.
Namuk Appoints Vice President, North America
Namuk, the Swiss-based sustainable outdoor kid’s brand founded in 2016, hired Beth Steele as vice president of North America, responsible for driving its U.S. and Canadian business and building the organization in both DTC and B2B markets.
Sea To Summit Hires North America Director Of Strategic Partnerships And Business Development
Sea to Summit, the outdoor gear manufacturer, hired Tracy Brunz as the North American director of strategic partnerships and business development.
Kohl’s Debt Ratings Downgraded
S&P Global Ratings downgraded the debt ratings of Kohl’s Corp. following the retailer’s update on its sales and earnings guidance for the full year. S&P said it expects Kohl’s medium to long-term business prospects will continue to be challenged by the secular headwinds facing department stores.
Urvan Group Offers To Collaborate With Ammo, Inc.’s On Annual Board Meeting Date
The Urvan Group, owner of approximately 17.1 percent of outstanding common shares of Ammo, Inc., issued a statement in connection with its nomination of seven candidates for election to Ammo’s Board of Directors at the 2022 Annual Meeting of Shareholders. Urvan Group is offering to collaborate with Ammo’s Board to set a fall 2022 date for its Annual Meeting.
Dick’s SG Expands On-Demand Retail Delivery
Dick’s Sporting Goods has partnered with DoorDash to use its on-demand delivery service. This makes Dicks its first sporting goods and retail apparel partner.
Lands’ End Announces CEO Succession Plan
Lands’ End, Inc. announced that Andrew McLean, president, International, at American Eagle Outfitters, would join Lands’ End as CEO-designate and as a member of its Board on November 1, 2022.
SylvanSport Expands Engineering Team
SylvanSport, the Brevard, NC-based maker of camping trailers, rooftop tents and outdoor gear, announced it hired Brandon Miller as engineering director and VAST specialist to oversee its Engineering Department and procedures.
Western Mountain Destinations See Increased Bookings During August
The combination of strong rates and an uptick in bookings has bolstered western mountain destinations’ chances for a strong end-of-summer finish and laid a good foundation for the upcoming winter ski season, according to DestiMetrics.
Recall: Cervélo Bikes
Cervélo recalled about 2,043 model year 2022 R5 and Caledonia-5 bicycles and 182 ST31 LT replacement stems because the bike’s handlebars could slip in the stem and cause the rider to lose control.
August Retail Sales Supported By Job And Wage Gains Amid Continued Inflation
The National Retail Federation reported core retail sales, which excludes automobile dealers, gasoline stations and restaurants, grew 0.1 percent in August from July and were up 8 percent unadjusted year-over-year. Consumers’ willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices, the NRF said.
