SGB Update Outdoor
L.L. Bean Reopens Bike, Boat, Hunting And Fishing Stores In Freeport
L.L. Bean has re-opened its Bike, Boat & Ski Store and its Hunting & Fishing Store in its home town of Freeport, ME. The openings are in line with guidelines provided by Maine officials that deemed bike shops, fishing supply stores, and federally licensed firearms dealers as essential retailers.
J&B Importers Purchases Pure Cycles
Florida-based distributor JBI, a national bicycle distribution company, has announced the acquisition of Pure Cycles, an omnichannel bike brand.
Mavic Placed Into Receivership
Mavic, the French cycling components and accessories brand that has been under the management of a turnaround firm since February, been placed into receivership at the French commercial court.
PeopleForBikes Adds 60 New Member Companies
PeopleForBikes reported that 60 bike businesses have joined the industry coalition as new members since the organization merged with the Bicycle Product Suppliers Association (BPSA) in 2019.
Patagonia Sees Stores Opening In June At The Earliest
Patagonia does not anticipate opening any locations for in-store shopping until June, at the earliest, and it’s prepared to wait until the fall, or even early winter, according to a report in the New York Times.
Yeti Launches Secondary Offering Of Shares
Yeti Holdings Inc. announced the commencement of an underwritten public offering of 15 million shares of Yeti’s common stock by certain of its stockholders.
Dorel Sports Swings To Loss On Covid-19
Dorel Sports showed an operating loss of $611,000 due to the impact of COVID-19. The business showed its fourth consecutive quarter of revenue growth as April bicycle sales surged with stay-at-home families seeking exercise and alternatives to vacations.
NPD: Sporting Goods, Home Fitness And Cycling Sales Surge In The U.S.
As U.S. consumers tackle ways to keep themselves and their families busy, active, and fit during this time of social distancing, sports and home fitness equipment as well as children’s and adult leisure bicycles have seen double- and triple-digit sales increases, according to retail sales data from The NPD Group.
Clif Bar Appoints New CEO
Clif Bar & Company announced that Sally Grimes, most recently at Tyson Foods, has been named the company’s new chief executive officer, effective June 1, 2020. With the appointment, Clif Bar founder, owners and current co-CEOs Gary Erickson and Kit Crawford will remain on the company’s Board of Directors.
Osprey Launches “Buy Online, Fit In-Store Program” To Support Independent Specialty Retailers
Osprey announced a new program aimed to support independent specialty retailers as they begin to open following the COVID-19 pandemic. The new “Buy Online, Fit In-Store Program” is designed to drive customers to Osprey specialty retail partners.
YNIQ Announces North American Distribution
YNIQ Sweden (Spoxury TR Group AB) announced the formation of its North American distribution, YNIQ North America, under the umbrella ownership of Wedge Brands, LLC, formerly ZG Holdings.
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.
