SGB Update Sportsmans
American Outdoor Brands Sales Grow Mid-Singles in Fiscal Q2
Second quarter earnings per share was down by two-thirds despite a 6.2 percent increase in sales. The shooting sports category saw a slight decline in net sales by that decline was offset by growth in the outdoor lifestyle category.
Ski-Doo Parent Company Reports Q3 Lift from N.A. Snowmobile Sales
BRP Inc.’s North American Powersports Products retail sales were flat year-over-year for the third quarter, reportedly driven by the strong retail sales of Snowmobiles offsetting declines elsewhere. North American retail sales for Marine Products decreased 30 percent.
Sam’s Club to Open Two New Midwest Distribution Centers
The Walmart Inc.’s warehouse club division plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis.
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.
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.
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.
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 Settles Firearms Sales Lawsuit
Academy Sports + Outdoors and the families of the victims murdered by Todd Kohlhepp reached a settlement. Academy will reward $2.5 million to the three victims’ estates, leaving each with over $830,000, minus attorney fees.
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.
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.
