SGB Update Outdoor
Vista Outdoor Posts Q4 Loss On Impairment Charges
Vista Outdoor Inc. reported a steep loss in the fourth quarter ended March 31 after impairment charges as sales fell 8 percent adjusted for the sale of the firearms business. The company also provided an update on its business operations and announced a realignment of its reporting segments to better reflect the company’s strategic focus.
SportChek’s Q1 Sales Slump 13.1 Percent
Canadian Tire Inc. reported sales in its SportChek segment decreased 13.1 percent while comparable sales decreased 1.8 percent. Helly Hansen’s revenue in the quarter was $121.5 million, a decrease of 7.3 percent. On a constant currency basis, Helly Hansen revenue grew 0.6 percent.
Yeti’s Q1 Sales Climb 12 Percent, Details COVID-19 Response Plan
Yeti Inc reported sales grew 12 percent in the first quarter but declined 25 percent in the final two weeks due to the impact of the pandemic. The company withdrew its full-year outlook and detailed an action plan to respond to the COVID-19 pandemic.
Fox Factory’s Adjusted Q1 Profits Slip
Fox Factory Holding reported earnings on an adjusted basis declined slightly in the first quarter. Revenues grew 14 percent as strong gains in Powered Vehicles Group due to acquisitions offset a 1.8 percent decrease in Specialty Sports Group sales.
Safilo Group’s Q1 Dragged Down By COVID-19 Impact
Safilo Group S.p.A., the parent of Smith Optics, reported earnings eroded sharply and sales fell 11.5 percent at constant exchange rates in the wake of the coronavirus outbreak.
Kitsbow Appoints Andrew Chmar To Board of Directors
Kitsbow, maker of cycling clothing, announced that Andrew Chmar has joined Kitsbow’s Board of Directors. An expert logician having served in the U.S. Army for more than two decades, Chmar brings extensive expertise in strategic planning and operational management to the Kitsbow board.
SFIA’s State of the Industry Report Shows 3.9 Percent Growth In 2019
The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
Wolverine Worldwide Announces Offering Of Senior Notes
Wolverine World Wide Inc. announced an offering $300 million aggregate principal amount of senior notes due 2025. Proceeds will be used to repay borrowings under its revolving credit facility.
Kathmandu’s Online Sales Surge
Kathmandu, the New Zealand-based outdoor chain and owner of Oboz and Rip Curl, reported online sales increased nearly three-fold in April while announcing plans for a staged reopening of physical stores, with a focus on employee and customer safety. The company also said a successful equity raising and cost reduction efforts have solidified its financial position.
Bogs Q1 Sales Drop 22 Percent
Weyco Group Inc. reported sales of Bogs fell 22 percent on a wholesale basis in the first quarter. Overall sales for Weyco, which also owns the Florsheim, Stacy Adams and Nunn Bush footwear brands, were down 14 percent.
CODI Sets Senior Unsecured Notes Offering
Compass Diversified Holdings (CODI) announced that the company intends to commence a private add-on offering of $200 million aggregate principal amount of the company’s 8.0 percent senior notes due 2026.
Johnson Outdoors Q2 Revenues Slump 8 Percent
Johnson Outdoors Inc. reported earnings were down slightly in its fiscal second quarter ended March 27 on an 8 percent revenue decline. Year-to-date revenue and net income compared favorably to the prior year fiscal six-month period.
Duluth Holdings Starts To Re-Open Stores
Duluth Holdings Inc. said it re-opened 20 retail stores on Monday where COVID-19 restrictions have been lifted and is preparing to re-open the balance as other states lift their pandemic mandates. The apparel company also announced steps to shore up its liquidity.,
L.L. Bean Rolls Out Curbside Pick-Up
L.L. Bean said it is introducing curbside pickup although it’s currently only available at its flagship location in Freeport, ME.
Pelican Products Debt Outlook Changed To Negative
The debt rating for Pelican Products, a supplier of performance case solutions and advanced portable lighting systems based in Torrance, CA, was affirmed by Moody’s but the rating agency’s outlook was changed to negative.
