SGB Update Outdoor
Canadian Tire Appoints New CEO
Canadian Tire Corporation Ltd., the parent of SportChek and Helly Hansen, appointed Greg Hicks as president and chief executive officer of Canadian Tire Corporation.
Clarus To Acquire Protective Case Maker S.K.B. Corp.
Clarus Corp., the parent of Black Diamond, announced it has entered into a definitive agreement to acquire privately-held S.K.B. Corporation (SKB), a leading manufacturer of protective cases, for $85 million in cash and 1.15 million shares of Clarus common stock.
2020 Bicycle Leadership Conference Rescheduled To September
The 2020 Bicycle Leadership Conference (BLC), originally slated for April 14 to 16, has been rescheduled for September 29 to October 1 in Monterey, CA. The BLC is a PeopleForBikes event that has been produced in partnership with the Sea Otter Classic (SOC) for the last 11 years.
Safoli Group’s 2019 Growth Boosted By Smith Optics
Safoli Group S.P.A., the parent of the Smith Optics brand, reported sales in 2019 grew 3.1 percent on a reported basis and gained 0.9 percent at constant exchange rates.
Bogs Sales Dip In Fourth Quarter
Weyco Group Inc. reported wholesale sales of the Bogs brand in North America were down 5 percent for the fourth quarter due to lower sales in Canada as a result of the mild start to the winter. For the year, Bogs sales were up 17 percent.
Vail Resorts Withdrew 2020 Guidance On Coronavirus Concerns
Vail Resorts Inc. reported flat earnings in the second quarter ended January 31 and said it was withdrawing its guidance for fiscal 2020 due to the uncertain impact of coronavirus for the rest of the year.
REI’s CEO Informs Members About Coronavirus Precautions
On Sunday, Eric Artz, REI’s president and CEO, wrote a blog entry addressed to Co-Op members detailing steps the retailer is taking in response to the coronavirus outbreak.
MEC Suspends Gear Rental Program Over Coronavirus Concerns
Mountain Equipment Co-op (MEC) has temporarily paused its company’s rental program as a precautionary measure as confirmed cases of coronavirus continue to increase in Canada.
Sea Otter Classic Postpones April Event
The Sea Otter Classic, the outdoor cycling festival held in Monterey County, CA, has postponed its April event.
Reports: Modell’s Preparing For Bankruptcy Filing
Modell’s Sporting Goods is preparing to file for Chapter 11 bankruptcy, according to reports. Mitchell Modell, CEO, told Bloomberg that Modell’s plans to file with a stalking-horse bidder in place in order to support a sale of the company in a bankruptcy auction.
SMC Acquires Tooling To Produce Omega Carabiner Line
Seattle Manufacturing Corporation (SMC) purchased the tooling and machinery to produce Omega Pacific’s top-selling carabiners – specifically the ISO forged D’s, Ovals, and select HMS models.
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.
Fox Factory’s Q4 Sales Climb 18.5 Percent
Fox Factory Holding Corp. reported earnings on an adjusted basis rose 12.9 percent on an 18.5 percent revenue gain.
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.
