SGB Update Outdoor

NuOrder by Lightspeed Appoints New Head of Revenue

Chris Akrimi, most recently, was the CEO of The Layer, a tech company that “transforms commerce data through AI. ” There, he focused on positioning the company at the “forefront of AI-driven product data management.”

Footasylum Secures Funding to Drive Expansion

The company secured a £35 million ($46 mm) revolving credit line from HSBC to support expansion and sustainability initiatives, and set a goal to achieve carbon net zero for Scope 1 and 2 emissions by 2030 and Scope 3 by 2040.

Adidas’ UK Sales Fall 9 Percent in 2023

Companywide, Adidas’ sales in 2023 declined 5 percent to €21.4 billion in Euro terms with flat currency-neutral revenues. The discontinuation of the Yeezy business represented a drag of around €500 million on the year-over-year comparison during 2023.

Orvis Sets Layoffs and Store Closures; Discontinues Catalog

The 112 employees affected by the layoffs represent 8 percent of Orvis’ workforce. In the U.S., Orvis operates 70 retail stores and 10 outlets. In the UK, the company operates 18 retail stores and one outlet. The company did not disclose what store would be affected by the closures.

Academy Sports’ Debt Ratings Raised by S&P

S&P Global Ratings raised Academy Sports And Outdoor Inc.’s debt rating because the retailer has sustained S&P’s adjusted leverage well below the 2x area despite modest EBITDA margin contraction.

Field & Stream Lodge Co. Opens First Location in Bozeman

Starwood Capital Group and A.J. Capital Partners created the lodge concept with plans to target cities near national parks, mountains and ski towns for future hotels, with Field & Stream Bozeman serving as the flagship location.

Dick’s SG to Hire Fewer Seasonal Workers This Year

The retailer plans to hire nearly 8,000 seasonal workers for this year’s holiday season, a step back from the 8,600 planned hires in 2023. A steady decline in employee turnover since 2021 led DKS to a decrease in the number of seasonal workers this year.

Elevate Outdoor Collective Promotes Josee Larocque to CEO

The parent company of the K2, Marker, Dalbello, Völkl, Ride, Line, Backcountry Access, Atlas Snow Shoe, Tubbs Snowshoes, and Madshus brands said COO Larocque replaces CEO John Colonna, who is leaving the company to pursue other interests.