SGB Update Outdoor
Compass Diversified Holdings Announces Common Share Offering
Compass Diversified Holdings commenced a public offering of 5 million common shares, with a 30-day option for the underwriters to purchase up to an additional 750,000 common shares.
Clarus Terminates SKB Acquisition
Clarus Corp. said it canceled its planned acquisition of protective Case Maker S.K.B. Corp. due to uncertainties created by the COVID-19.
L.L.Bean Secures Tax Break For Expansion
L.L.Bean will receive a nearly $10 million tax break from the city of Freeport, ME to support the $110 million expansion of its headquarters, according to the Portland Press Herald.
Newell Brands’ Home & Outdoor Living Segment Posts Steep Loss On Charges
Newell Brands’ Home & Outdoor Living segment, which includes Coleman and Marmot, posted a $1.1 billion operating loss after impairment charges. Net sales in the segment were $547 million in the first quarter compared with $627 million in the prior-year period, reflecting a core sales decline of 11.3 percent.
Unifi Posts Loss On Impairment Charge Tied To Sale
Unifi Inc. reported that it completed sale of its 34 percent interest in Parkdale America, LLC (PAL) to the existing majority partner, Parkdale, Inc., in an all-cash transaction for $60.0 million. The fibers manufacturer also posted a loss in the third quarter ended March 2 after a charge related to the sale.
Tecnica Group Canada Announces Rollerblade National Sales Manager
Tecnica Group Canada announced the appointment of Martin Lafleur to the position of national sales manager for the Rollerblade brand, a logical addition following his recent nomination as national sales manager for Nordica.
Columbia Sportswear Posts Q1 Operating Loss, Sales Slide 13 Percent
Columbia Sportswear Company reported an operating loss of $2 million in the first quarter as sales fell 13 percent. Chairman, President and Chief Executive Officer Tim Boyle said, “It is important to note that we entered into this crisis in a position of strength, with a fortress balance sheet and top quartile operating margin performance in our industry in 2019. As consumers look to make every dollar they spend count within this challenging economic environment, we believe the Columbia brand’s differentiated innovation and exceptional value are as important as ever.”
Stio Hires Senior Sourcing And Production Manager
Stio, the Jackson Hole-based outdoor apparel brand, hired Gena Calegari as its senior sourcing and production manager. Calegari was most recently the global production of maternity and plus at Old Navy.
Wolverine World Wide’s Debt Ratings Lowered
S&P Global Ratings lowered the debt ratings of Wolverine World Wide Inc. because it expects the footwear company’s revenue and profitability will be significantly impaired by lower consumer demand in the U.S. and retail store closures related to measures taken to contain the spread of the COVID-19 pandemic.
Shimano’s Revenues Slump 12 Percent In Q1
Shimano Inc. reported operating income decreased 22.3 percent in the first quarter as sales fell 12.3 percent.
Rocky Mountain Bicycles Appoints Chief Commercial Officer
Rocky Mountain Bicycles has announced the hiring of David Cathcart as its new chief commercial officer. Since 1998, Cathcart has pursued a career in sports and cycling at both the Saris Cycling Group and Garneau, as a member of their executive teams.
Helen of Troy’s Houseware Sales Climb 15 Percent In Q4
Helen of Troy Ltd. reported sales at its Housewares segment, which includes Hydro Flask and OXO, increased 15.0 percent in the fourth quarter ended February 29.
Thule’s Revenues Decline In Q1
Thule Group reported sales declined 7.5 percent on a currency-neutral basis in the first quarter. Sales were down 13 percent in the Americas region and 5.7 percent in the Europe & ROW region.
Vista Outdoor Sees Q4 Earnings Exceeding Guidance, Appoints CFO
Vista Outdoor expects fourth-quarter earnings to exceed expectations after seeing “strong demand” within its commercial ammunition, cycling and outdoor cooking categories, and also said it believes it has the financial flexibility required to navigate COVID-19’s impact. Vista Outdoor also appointed Sudhanshu Priyadarshi as CFO.
Patagonia Selling Online Again
Patagonia, which closed both its stores and e-commerce operations on March 13 in an early response to the spread of COVID-19, has resumed online selling.
