SGB Update Outdoor
New Government Report Outlines Outdoor Recreation’s Economic Impact
The outdoor recreation industry continues its robust growth, bolstering the country’s overall economy. Such were the findings in a Tuesday report released by The Outdoor Recreation Roundtable and Bureau of Economic Analysis, whose results unveiled economic data on outdoor recreation’s economic impact on the U.S. economy.
Black Diamond Opens Store In Montana
Black Diamond Equipment opened its doors to a new retail store in Big Sky, MT.
Newell Brands Announces Tender Offer For $300 Million Of Outstanding Debt
Newell Brands launched a debt tender offer to purchase for cash up to $300 million in debt. The company expects to fund the Offer with available cash on hand.
Christy Sports Acquires Double Diamond Ski Shop
Christy Sports announced that it has acquired Double Diamond Ski and Bike Shop, a specialty ski and snowboard retail and rental operator located at Vail, CO.
Stocks Rally On Pfizer Vaccine News
The broader stock market soared on Monday after drugmaker Pfizer said that an early look at data from its coronavirus vaccine shows it’s more than 90 percent effective. However, the majority of stocks in the active lifestyle space that have thrived amid the pandemic, including Peloton, saw sharp declines.
Callaway Golf Q3 Sales Climb 12 Percent
Callaway Golf Company reported net earnings in the third quarter ended September 30 rose 69 percent as sales grew 12 percent. The gains were driven by a 27 percent hike in golf equipment.
Clarus’ Q3 Revenues Expand 7 Percent
Clarus Corp. reported sales grew 7 percent in the third quarter and predicted its fourth-quarter sales would climb in the range of 11 percent to 13 percent. Black Diamond sales dropped 8 percent while Sierra Bullet’s sales soared 135 percent.
Camping World Opens New SuperCenters In Texas, Louisiana And Idaho
Camping World Holdings Inc. has expanded its national footprint with the recent openings of Camping World SuperCenters in Spring, TX and Breaux Bridge, LA, along with a planned opening of a Gander RV SuperCenter in Pocatello, ID, scheduled for December 1.
VF Corp. To Acquire Supreme
VF Corp. signed a definitive merger agreement to acquire Supreme, the streetwear brand. Current investors, The Carlyle Group and Goode Partners are selling their stakes in the Supreme brand. VF said the Supreme brand offers a $1 billion global opportunity over time through international and DTC expansion.
Lanctôt To Distribute Mavic In Canada
NRG Enterprises, a division of Raymond Lanctôt Ltd., has signed a multi‐year agreement for the Canadian distribution of Mavic, the French cycling brand.
Bass Pro’s Debt Ratings Upgraded
Moody’s raised the debt ratings of Bass Pro Group LLC. The rating agency said Bass Pro has been resilient through the coronavirus pandemic as it reported positive sales momentum continuing through the third quarter following the initial temporary store closures at the onset of the outbreak.
Dorel Sports’ Q3 Revenues Climb 22 Percent
Dorel Industries reported revenues at Dorel Sports reached $305.6 million in the third quarter, an increase of 22.1 percent year-over-year.
Pelican Products Appoints VP, Finance
Pelican Products, Inc. appointed Brad Antoine as vice president of financial planning and analysis.
SportChek’s Q3 Same-Store Sales Dip
Canadian Tire Corp. reported SportChek’s comparable sales growth declined 1.4 in the third quarter. On a constant-currency basis, Helly Hansen’s revenue decreased 0.9 percent.
GoPro’s Q3 Revenues More Than Double
GoPro announced a return to profitability in the third quarter ended September 30 as sales year-over-year jumped 114 percent.
