SGB Update Outdoor
NSSF Donates $25,000 In Support of Newtown And Region’s Virus Responders
The National Shooting Sports Foundation, the trade association for the firearm industry based in Newtown, CT, has made donations totaling $25,000 to three groups supporting the health and welfare of Newtown residents in response to the COVID-19 pandemic.
Bass Pro’s Debt Ratings Outlook Lowered To Negative
Moody’s changed its debt rating of Bass Pro Group, L.L.C. to negative from stable. The change in outlook to negative from stable reflects the risk that Bass Pro’s credit metrics may weaken on a sustained basis as a result of recessionary conditions and declines in discretionary consumer spending.
USA Cycling Sees 30 Percent Revenue Decline In 2020
USA Cycling said it made the difficult but necessary decision to reduce its staff size by 15 percent and place an additional 25 percent on furlough for two to four months in anticipation of a 30 percent revenue reduction due to the COVID-19 coronavirus pandemic.
Bass Pro’s Flagship In Springfield Closes Temporarily
Bass Pro Shops’ flagship store in Springfield, MO is temporarily closing amid the Coronavirus pandemic due to new stay-at-home orders in the state. The retailer already noted that it had reduced hours and limited access to 25 customers at a time.
Kathmandu Shutters Locations, Rolls Out Cost-Containment Efforts
Kathmandu Holdings Ltd said its New Zealand retail stores and distribution centers were closed on March 24 and is in the process of closing its Australian stores as a result of the coronavirus. The company also introduced a number of steps to conserve liquidity and streamline the business in the current environment.
Montane Appoints Andy Towne As Chair Of Board
Montane, European specialist brand of outdoor apparel and equipment, announced the appointment of Andy Towne as Chair of its Board of Directors on March 20, 2020.
City Of Fresno Declares Sporting Goods Essential Retail
Sporting goods stores in Fresno, CA have been allowed to reopen as essential businesses, city leaders announced. Officials said many of the stores sell essential items including food, water, emergency supplies, ice, food storage, propane, and cooking supplies.
Acquisitions, Firearms, E-Commerce Fuel Sportsman’s Warehouse In Q4
Sportsman’s Warehouse Holdings Inc. reported net sales for the fiscal fourth quarter of $258.2 million, up 6.4 percent from $242.7 million in the prior-year quarter. The net sales increase was primarily due to a strong performance from eight acquired stores, momentum in the firearm and ammunition categories in January and growth in its e-commerce business.
Target Provides Business Update To COVID-19
Target Corp. said that as the COVID-19 crisis has evolved, the company has been experiencing unusually strong traffic and sales. As a result, the company has adjusted the expected timing of some of its strategic initiatives.
Camping World’s Debt Ratings Lowered
Moody’s Investors Service downgraded the debt ratings of Camping World due to the potential for ongoing softness in the RV market as the coronavirus likely impacts purchases of big-ticket items.
Winnebago Industries Sees 45 Percent Q2 Gain
Winnebago Industries Inc. reported revenues for the fiscal 2020 second quarter ended February 29, increased 44.9 percent to $626.8 million compared to $432.7 million for the fiscal 2019 period. Revenues for Newmar, which was acquired in the first quarter of fiscal 2020, were $138.4 million.
Dick’s Sporting Goods Cuts Salaries And Expenses, Suspends Stock Buybacks
Dick’s Sporting Goods, in a regulatory filing, announced the temporary reduction in the base salaries of certain executive officers in response to the current business environment as impacted by COVID-19. The retailer also said it’s embarking on a “significant reduction” in expenses and planned inventory receipts, reducing planned capital expenditures, temporarily suspending its share buybacks, and evaluating its dividend program.
Deckers Re-Opens Distribution Center
Deckers Brands said that after incorporating enhanced safety protocols, the company has resumed modified operations with limited capacity at its distribution center located in Moreno Valley, CA.
Anta Sports Sees First-Half Sales Drop Due To Coronavirus
Anta Sports said it expects a low-double-digit decrease in revenues for the first half of 2020 due to the fallout from the coronavirus, but sales are expected do recover in the second half and growth is still expected for the year.
VF Corp. Withdraws Guidance, Draws Down $1 Billion From Credit Facility
VF Corp. said it has drawn down $1 billion from its revolving credit facility “in an abundance of caution and as a proactive, precautionary measure” in response to the coronavirus. The company also withdrew its guidance for 2020.
