Forrester Sees U.S. Online Retail Spending Reaching $1.6 Trillion By 2027
In 2021, U.S. total retail sales, excluding auto and gas, reached a record high of $4.3 trillion, driven by U.S. consumers’ accumulated savings in 2020 and the stimulus checks that they received from the government. By 2027, Forrester expects total U.S. retail sales to reach $5.5 trillion and U.S. online retail sales to reach $1.6 trillion.
MidwayUSA Announces Merchandising Manager, Optics
MidwayUSA’s Matt Frevert was promoted to merchandising manager, Optics.
MidwayUSA Adds Merchandising Manager, Clothing And Footwear
MidwayUSA’s Matt Quintero received a promotion to merchandising manager, clothing and footwear.
Lids Announces Retail Partnership With Topps
Lids announced a new retail distribution partnership with the card company. Lids will now sell Topps’ various trading card products in select Lids retail stores throughout the U.S.
Vista Outdoor Closes On Fox Racing Acquisition
Vista Outdoor, Inc. announced it closed on the acquisition of Irvine, CA-based Fox Racing for the purchase price of $540 million, with the potential for an additional $50 million earnout based on Fox Racing’s financial performance.
OIA Executive Director To Resign
Lise Aangeenbrug, executive director Outdoor Industry Association (OIA), will resign effective August 19 to join the National Park Foundation.
NBA And Fanatics Open League’s First Store In Australia
The NBA announced an expanded multi-year collaboration to open the first brick-and-mortar NBA store in Australia beginning this year. Lids will operate the store.
Rawlings Promotes Buechter To CFO
Rawlings Sporting Goods Company, Inc. promoted Andria Buechner, former director of financial planning and analysis, to chief financial officer, filling the vacancy left when Ron Ostrowski was named president of Rawlings last month.
RYU Apparel Adds Board Member
RYU Apparel, Inc. announced that Daphna Edwards Ziman has joined the RYU Board of Directors.
Ben Hogan Golf Equipment Company Closed
Perry Ellis International, Inc. (PEI), the owner of the Ben Hogan brand, acknowledged the closure of the Ben Hogan Golf Equipment Company, which licensed the Ben Hogan brand for golf clubs and accessories. Due to economic challenges and the impact of the pandemic, the licensee did not have the resources to support equipment production.
MidwayUSA Appoints Merchandising Manager, Hunting, Archery & Black Powder
MidwayUSA’s Jerod Smothers recently accepted the position of merchandising manager, Hunting, Archery and Black Powder.
Mastercard Sees July Retail Sales Expand 11 Percent
According to Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, U.S. retail spending, excluding automotive, increased 11.2 percent year-over-year in July, while retail sales, excluding automotive and gas, rose 9.0 percent.
Escalade’s Q2 Revenues Decline 5 Percent
Escalade reported sales declined 5.4 percent in the second quarter due to lower demand within the fitness and outdoor categories, including archery and water sports.
Johnson Outdoors’ Q3 Sales Slide 5 Percent
Johnson Outdoors Inc. reported net profits fell 49 percent in the third fiscal quarter ending July 1. Sales declined 5 percent due to a 12 percent drop in fishing segment sales. Sales grew 32 percent in camping, 10 percent in watercraft recreation and 7 percent in diving.
GoPro Sees Flat Revenue Growth In Second Quarter
GoPro, Inc. announced sales that were essentially flat year-over-year in the second quarter ended June 30 but saw strong subscriber growth and said earnings topped expectations.
