SGB Update Outdoor

Louis Garneau Files For Bankruptcy Protection

Louis Garneau, the cycling apparel specialist, has filed for protection under the Bankruptcy and Insolvency Act in Canada. The company also announced the “temporary” layoffs of 66 employees at its corporate offices in  Quebec.

Boardriders’ Debt Ratings Downgraded

Moody’s Investors Service downgraded Boardriders Inc.’s ratings, including the corporate family rating to Caa1 from B3, probability of default rating to Caa1-PD from B3-PD, and secured term loan rating to Caa1 from B3. The outlook is stable.

Ross Stores Sees 4 Percent Comp Gain In Q4

Ross Stores Inc. reported earnings per share for the 13 weeks ended February 1, 2020 grew 7 percent to $1.28 on net income of $456 million. Sales for the fourth quarter of 2019 were $4.4 billion, with comparable-store sales up 4 percent on top of a 4 percent gain in the prior-year period.

REI Closes Corporate Campuses Over Coronavirus Precautions

REI, based in Seattle, is temporarily closing three corporate campuses in Washington state to conduct a deep cleaning process after learning that two headquarter employees may have been exposed to coronavirus. REI’s King County and Alderwood stores are also undergoing a deep cleaning.

Montane Acquired By Edinburgh-Based Inverleith

Montane, the U.K. outdoor clothing and accessories company, said Edinburgh-based specialist consumer brand investor Inverleith LLP has secured a majority stake in the company.

Shaun White Ends Olympic Skateboarding Bid

Shaun White, the three-time snowboarding champion,  said he won’t try to qualify for the U.S. skateboarding team in that sport’s Olympic debut later this year in Tokyo.

Coronavirus Threatens U.S. Mall Traffic

According to a survey from Coresight Research, nearly three-quarters of U.S. consumers would stay away from malls or shopping centers if the coronavirus outbreak worsens in the U.S.

Winmark’s President Of Franchising Resigns

Winmark Corp., the parent of Play It Again Sports, said Steven A. Murphy, current president, franchising has resigned. Renae M. Gaudette, the company’s vice president, franchising has been named president, franchising;

VF Corp. Closes Inaugural €500 Million Green Bond

VF Corp. announced the closing of its €500 million green bond offering, representing the first green bond issued in the apparel and footwear industry. The amount equivalent to the net proceeds from the offering will be used to advance programs within the company’s Made for Change Sustainability & Responsibility strategy.

Vista Outdoor Supports Legislation Removing Barriers For Veterans In The Outdoors

Vista Outdoor Inc. announced that the company, along with its brands, joined a diverse group of outdoor stakeholder groups and companies in a letter to the House Veterans Affairs Committee in support of the Accelerating Veterans Recovery Outdoors Act, a federal proposal to reduce barriers for veterans getting outdoors.

Play It Again Sports Parent Expands Earnings In 2019

Winmark Corp., the parent of Play It Again Sports, reported earnings rose 10.4 percent in the fourth quarter to $8.46 million, or $2.08 per share, from $7.66 million, or $1.83, for the same period last year.

Wolverine World Wide Sees Five Percent Growth In Q4

Wolverine World Wide Inc. reported sales rose 4.8 percent in the fourth quarter, boosted by mid-teens revenue growth from Merrell and Sperry and saw earnings top Wall Street’s guidance. For the current year,  however, the company provided a soft outlook, citing the negative impact of the coronavirus outbreak.