SGB Update Outdoor
Boardriders’ Debt Ratings Lowered
The debt ratings of Boardriders Inc., the parent of Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element brands, were downgraded by S&P. The rating agency said a new debt offering “is tantamount to a default on the term loan because the company is distressed and term loan lenders were not adequately compensated for accepting a more junior position in the capital structure.”
Altitude Sports Launches Same-Day Delivery
Altitude Sports, Canada’s online outdoor retailer, announced that it will offer a same-day delivery option to customers in Montreal as of September 1 and Next Day Delivery in Toronto this fall.
Recall: StoreYourBoard.com Hi-Lift Storage Hoists
About 36,700 Hi-Lift Storage Hoists sold by StoreYourBoard.com are being recalled. The green straps can break while the Hi-Lift Storage Hoist is in use, causing whatever object was being stored in the hoist to fall, posing an injury hazard to passersby.
Costco’s August Same-Store Sales Jump Double-Digits
Costco Wholesale Corp. reported same-store sales in the U.S. grew 12.5 percent in August.
VF Corp. x Timberland Collaborate With Redress
VF Corporation, together with its Timberland brand, announced a collaboration with Redress for the Redress Design Award 2020.
American Outdoor Brands’ Q1 Revenues Climb 52 Percent
American Outdoor Brands Inc., the outdoor gear and accessories business, recently spun off from Smith & Wesson Brands, reported sales in the first quarter ended July 31 of $50.5 million, an increase of 51.9 percent, over net sales of $33.2 million for the comparable quarter last year, driven primarily by increases in both e-commerce and traditional sales channels.
Smith & Wesson Sees Q1 Revenues More Than Double
Smith & Wesson Brands Inc. reported net sales in the first quarter ended July 31 were $278.0 million compared with $123.7 million for the first quarter last year, an increase of 124.8 percent.
Duluth Trading’s Q2 Sales Expand 13 Percent
Duluth Holdings Inc., the parent of Duluth Trading, reported earnings more than doubled in the second quarter as sales grew 12.6 percent.
Dick’s SG Announces Grand Opening Of Three Stores In September
Dick’s Sporting Goods will expand its national footprint with the opening of one Dick’s Sporting Goods store, one combination Dick’s and Golf Galaxy location and one Golf Galaxy store in September. The stores are in San Antonio, TX; Myrtle Beach, SC and Westminster, CO.
Loon Outdoors Appoints Marketing Director
Loon Outdoors has appointed Hogan Brown to lead its marketing efforts.
NICS Checks Climb 51 Percent In August
The FBI completed 1.68 million gun background checks on an NSSF-adjusted basis in August, a climb of 51.2 percent compared to the August 2019 NSSF-adjusted NICS figure of 1.11 million. The rate marks a slowdown versus triple-digit gains in the last two months.
Sportsman’s Warehouse’s Q2 Sales Catapult 79 Percent
Sportsman’s Warehouse Holdings Inc. reported earnings grew five-fold in the second quarter. Sales surged 79 percent primarily due to a surge in demand across all major categories, led by hunting and shooting.
OIA Partners With People For Bikes On Climate Action
Outdoor Industry Association (OIA) and PeopleForBikes (PFB) have announced a partnership through which PFB members — bicycle manufacturers and retailers — will be able to join the OIA Climate Action Corps, a collaborative model for alignment, action and accountability to achieve industry-wide greenhouse gas (GHG) emission reductions in accordance with Intergovernmental Panel on Climate Change (IPCC) guidelines.
Snow Peak USA Opens U.S. Headquarters, Retail Flagship
Snow Peak USA has opened its U.S. headquarters and retail flagship in Portland, OR “designed to build community… and ‘invite customers to ‘Dwell Outdoors Together'”.
Fjallraven Sued Over Unpaid Rent At Boulder Store
Fjallraven has been sued by the landlord of its store in Boulder for not paying rent from April through August.
