SGB Update Outdoor
Academy Sports Trims Guidance on Q3 Shortfall
The retailer narrowed its full-year guidance to the lower end of prior expectations as third-quarter sales and earnings arrived below expectations. The retailer blamed generally soft consumer spending and warm weather’s impact on fall selling.
Duluth Trading Posts Wider Fiscal Q3 Loss as Sales Decline
The retailer posted a net loss of $10.5 million, or a loss of 32 cents per diluted share, in the quarter, compared to a loss of $6.2 million, or a loss of 19 cents per diluted share, in the year-ago quarter. Net sales decreased 6.1 percent to $138.2 million.
Vail Resorts to Acquire Swiss Ski Resort
Vail Resorts, Inc. has agreed to acquire Crans-Montana Mountain Resort in Switzerland from CPI Property Group (CPIPG).
Vista Outdoor Rejects Buyout Proposal from Colt CZ
Vista Outdoor, Inc. said late Wednesday that following consultation with its financial and legal advisors, its board of directors had rejected the unsolicited proposal received from Colt CZ Group SE to acquire the company.
Costco’s Comps Improved 3.5 Percent in November
Costco Wholesale Corp. reported same-store sales rose 3.5 percent in November. By region, comps increased 1.8 percent in the U.S., 4.4 percent in Canada and 11.7 percent in its Other International segment.
Bass Pro’s Debt Ratings Outlook Lowered On Sales Weakness
S&P Global Ratings lowered the debt ratings outlook of Great Outdoors Group, LLC, the corporate parent of Bass Pro and Cabela’s, due to the recent report of a negative sales performance for the third quarter and nine months ended September 30.
Craft Sportswear NA Sees CEO Transition as HQ Moves West
Craft Sportswear North America plans to move its U.S. headquarters from Beverly, MA, to Seattle, WA, in 2024 to “bolster the brand’s expansion in outdoor and specialty retail, all while streamlining operational efficiencies.” Cutter & Buck exec Jake Rawson has been named the new CEO for Craft North America.
NBDA Elects Two New Board Members
The National Bicycle Dealers Association (NBDA) elected Clark Butcher from Victory Bicycle Studio in Memphis, TN, and Greg McDonald from Ridleys in Calgary, BC to its Board of Directors.
NRF: Thanksgiving Holiday Weekend Sees Record Number of Shoppers
A record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day through Cyber Monday, surpassing last year’s record of 196.7 million, according to the annual survey released by the National Retail Federation. The figures surpassed NRF’s initial expectations of 182 million shoppers by more than 18 million.
Report: Online Apparel Sales Nearly Triple on Cyber Monday
Consumers spent a total of $12.4 billion on Cyber Monday, November 27, according to final Adobe Analytics data, up 9.6 percent from $11.3 billion on Cyber Monday 2022, which was the previous single biggest online spending day of all time.
Academy Sports Opens Seven New Stores in November
Academy Sports + Outdoors opened seven new stores in five states in November 2023 to complete its fiscal 2023 new store planned openings. The retailer opened 14 new stores in fiscal 2023 and plans to expand to reach its goal of opening 120 to 140 new stores by the end of 2027.
Schoeller Textil Appoints Western Regional Sales Manager
Schoeller Textil AG announced that Brett Jacobson had joined its North American team as western regional sales manager.
Roark Names Active Lifestyle Industry Vet as CEO
New CEO Jason Steris joined action sports brand Volcom in its early years and spent 23 years at the brand, holding various positions from national sales manager to COO, president and CEO. More recently, he was CEO at the motocross and mountain bike gear brand Troy Lee Designs.
Canada Goose Acquires First European Manufacturing Facility
Canada Goose announced that it acquired the operating assets of Romania’s Paola Confectii Manufacturing, the brand’s first European facility.
Mountain Warehouse Reports Sales Uptick In First Half, Steeped-Up Openings
Mountain Warehouse, the London-based outdoor specialty store with 370 shops across Europe, the U.S., Canada, and New Zealand, reported sales “rebounded strongly” to reach “record” levels of £171 million ($216 mm) in the six months ended August 31.
