SGB Update Outdoor
RV Retailer’s Debt Ratings Outlook Revised To Negative
S&P Global Ratings lowered its debt ratings on RV Retailer Intermediate Holdings LLC due to a “steeper decline in retail unit sales, lower average selling prices, and compressed margins” than expected.
CNBC/NRF: Strong Retail Sales Gain for First Half of Holiday Season
According to CNBC/NRF Retail Monitor, the holiday shopping season began with a strong start in November as retail sales with total retail sales, excluding automobiles and gas, up 0.77 percent seasonally adjusted month over month and up 4.24 percent unadjusted year-over-year.
RVIA Expects RV Shipments to Post Double-Digit Growth in 2024
The new forecast projects 2024 RV shipments to range between 343,900 and 356,300 units with a median total of 350,100 units. This total would represent a 11.8 percent to 15.8 percent increase over the expected 2023 year-end range.
NRF: Imports Peaked in October, Volume Expected to Increase in 2024
Inbound cargo volume at the major container ports in the U.S. will continue to slow during the final weeks of 2023 after peaking later than expected in the fall, according to the Global Port Tracker* report released by the NRF and Hackett Associates.
NRF: Economy Delivers “Vigorous Growth” Despite Slowdown
According to the National Retail Federation’s Chief Economist Jack Kleinhenz, after a challenging year, the economy remains healthy despite slowing.
Johnson Outdoors Sees Q4 Revenues Halved as Fishing Sinks
Consolidated net sales in fiscal Q4 were $96.3 million, a $100.1 million decrease from the prior-year Q4 sales of $196.4 million. The net loss for the quarter was $16.0 million, or a loss of $1.56 a share, compared to net income of $9.7 million, or EPS of 95 cents a share in the fiscal 2022 fourth quarter.
Vail Resorts Posts Wider Fiscal Q1 Loss on Australian Weather Woes, N.A. Expenses
Mountain segment net revenue decreased 14.5 percent to $172.5 million for the first quarter, said to be primarily driven by the company’s Australian ski areas, which experienced weather-related challenges that impacted terrain in the current year, compared to record visitation and favorable snow conditions in the prior year.
Backpacker’s Pantry Names Vice President of Operations
Backpacker’s Pantry and Astronaut Foods promoted Kris Luikart to vice president of operations. Luikart brings ten years of experience in planning and operations in the food industry to the position.
Tanger Acquires First Open-Air Lifestyle Center
Tanger acquired Bridge Street Town Centre in Huntsville, AL for $193.5 million using cash on hand and available liquidity. Management expects the center to deliver a first-year return in the mid-eight percent range, with potential for additional growth over time.
Pura Vida’s Q3 Revenues Fall 18 Percent
Pura Vida’s revenues totaled $17.7 million in the third quarter, an 18.3 percent decrease year-over-year, according to the bracelet brand’s parent, Vera Bradley, Inc. Declines within wholesale and e-commerce channels were only partly offset by higher retail sales.
Pierer Mobility to Divest Felt Bicycles, R Raymond Brands
Pierer Mobility reported it will sell the Felt Bicycles and R Raymon bike brands as part of a divestment of its non e-bike business. to enable the Austrian-based company to focus on its core e-bike and motorcycle brands.
ICSC Board of Trustees Elects New 2024 Chair and Vice Chair
The ICSC Board of Trustees elected Jim Taylor, president & CEO, Brixmor Property Group, to serve as ICSC’s chairman and Angele Robinson-Gaylord, SVP, store development americas, Starbucks, to serve as vice chairman for the 2024 term.
Haro Bikes Adds Senior Engineer
Haro Bikes hired Ty Buckenberger as senior engineer to develop new bikes as the brand expands into new categories this season.
Lands’ End Posts Wider Q3 Loss on Double-Digit Sales Decline
Third quarter net revenue decreased 12.5 percent to $324.7 million and the net loss was $112.4 million, or $3.52 loss per diluted share, compared to net loss of $4.7 million, or 14 cents loss per diluted share, in the third quarter of fiscal 2022.
Clarus Sees Potential Recovery of $46 million from Shareholder Derivative Lawsuit
Clarus Corp. reported it sees the potential recovery of $46.2 million related to a lawsuit it filed against HAP Trading, LLC and Harsh A. Padia regarding the recovery of short-swing profits in violation of securities laws.
