SGB Update Outdoor
Lectric eBikes Secures Investment
Bertram Capital announced that it has made an investment in Phoenix, AZ-based Lectric eBikes, a designer and direct-to-consumer retailer of electric bicycles and accessories.
REI To Open New Store In Orland Park
REI Co-op will open a new store in the Village of Orland Park, IL in fall 2021, representing the co-op’s fifth location in Illinois.
VF’s Q3 Revenues Slide 6 Percent
VF Corp. reported sales dropped 6 percent in the third quarter ended December 26. Sales for the Vans brand were down 6 percent while sales for The North Face were flat, though the company’s entire outdoor segment fell 5 percent. Earnings came in just ahead of Wall Street’s consensus estimate but were below year-ago levels. VF nonetheless raised its guidance for the year.
JD Sports Explores Funding Options To Fuel Expansion
JD Sports, the U.K. retailer that owns Finish Line and Shoe Palace in the U.S., confirmed on Tuesday that it was exploring additional funding to support growth.
Target Giving $500 Pandemic Bonuses To 375,000 Frontline Employees
Target said it would be rewarding its frontline workers with $500 bonuses for their efforts during a “year unlike others” in 2020. Members of Target’s executive team, store leaders and distribution center leaders will net bonuses of $1,000 to $2,000. In total, Target is giving out $200 million in bonuses after a successful holiday season.
Blackbird Products Group Adds Union Sales Agency
Blackbird Products Group, LLC, parent company of Mammoth Coolers, Mammoth PPE Products, and ABKT (American Buffalo Knife & Tool), announced a new partnership with Union Sales Agency.
NPD Report: Athletic Footwear And Activewear Sales Decline in 2020
U.S. athletic footwear dollar sales declined in the mid-single-digits in 2020 although sport-lifestyle, running, and golf outperformed, according to The NPD Group. Activewear sales were also down in the mid-single-digits for 2020, but sweatshirts and underwear posted gains.
Golf Rounds Played Surge In December
Golf rounds played jumped 37.3 percent for the month of December and grew 13.9 percent in total for 2020, according to Golf Datatech. The biggest regional gains were seen in New England, West North Central and Mid-Atlantic.
Rocky Brands To Acquire Original Muck Boot Company and Xtratuf
Rocky Brands, Inc. announced that it has entered into a definitive agreement to acquire the performance and lifestyle footwear business of Honeywell International, Inc. including The Original Muck Boot Company and Xtratuf footwear brands, for a purchase price of $230 million.
PeopleForBikes Appoints Vice President Of Business Network
PeopleForBikes announced the addition of Ravi Rajcoomar as its vice president of the organization’s business network. Rajcoomar will serve on the trade association’s senior leadership team and guide the organization in creating an environment where cycling and the bike business grow.
TightSpot Quiver Announces BuckVentures Partnership
TightSpot Quiver announced its new partnership with BuckVentures, a resource for hunting entertainment and education.
Nike Opens Nike Live Store In Eugene
Nike opened its latest small-format Nike Live store in Eugene, OR. Nike by Eugene joins three other Nike Live concepts in Los Angeles, Tokyo and New York.
Salomon’s President Exits
Amer Sports announced that Michael White, president of Salomon, has left the company to “pursue other interests.” An external search has been initiated for a permanent successor.
Gunwerks Makes Hires
Gunwerks, based in Cody, WY, hired Ryan Chalupsky as product development director and Neal Emery as director of brand experience.
Cohere Capital Completes Strategic Growth Investment In CCS
Cohere Capital announced that it has made a strategic growth investment in Portland, OR-based CCS, the online retailer of streetwear and skateboard equipment. The investment will allow CCS to continue to invest in technology-enabled products and service offerings and accelerate its brand growth.
