SGB Update Sportsmans
Newell Brands To Sell Pure Fishing To Sycamore Partners For $1.3 Billion
Newell Brands on Wednesday announced it has signed definitive agreements to sell Pure Fishing to the private equity firm Sycamore Partners for $1.3 billion.
Lew’s Holdings Acquires Southern Plastics
Lew’s Holdings Corporation, the supplier of fishing and hunting products through Lew’s, Strike King, and Hunters Specialties, announced that it has acquired Southern Plastics Company Inc., a manufacturer of soft plastic fishing lures.
Clarus Raises EBITDA Margin Outlook On Record Sales In Q3
Clarus Corp. on Monday raised its EBITDA margin outlook to 9.5 percent from 8.5 percent after the company reported sales for the third quarter ended September 30 jumped 22 percent to a record $55.7 million, which also beat Wall Street targets by $2.5 million.
NICS Checks Drop 11 Percent in October
FBI background checks, as adjusted by the NSSF, continued their trend of year-over-year declines, falling 11.2 percent to 1.0 million from 1.13 million in October 2017.
Vista Outdoor Lifts EPS Guidance On Cost-Reduction Initiatives
Vista Outdoor Inc. slightly raised its earnings guidance on an adjusted basis for the year as expectations for sales and earnings exceeded plans in the second quarter ended September 30. Shooting Sports segment generated sequential sales growth, while Outdoor Products segment sales remained flat adjusted for the sale of its eyewear brands.
Sturm, Ruger & Co. Misses Revenue, Earnings Targets
Sturm, Ruger & Co. Inc. on Wednesday reported net sales for the third quarter ended September 29 of $114.9 million and diluted earnings of 52 cents per share, falling short of Wall Street expectations by $14.9 million and 40 cents, respectively.
Compass Diversified Holdings Posts Revenue Bump, Income Slide
Compass Diversified Holdings reported revenue for the third quarter ended September 30 of $448.7 million, up 38.5 percent from $324 million a year ago and beating Wall Street estimates by $39.2 million. The company’s net income was $5.8 million, as compared to net income of $8.4 million for the quarter ended September 30, 2017.
Winchester Revenue Declines Amid Olin Q3 Beat
Olin Corp. reported net income for the third quarter ended September 30 of $195.1 million, or $1.16 per diluted share, which compares to third quarter 2017 net income of $52.7 million, or 31 cents per diluted share.
Yeti’s IPO Makes Lackluster Debut
Amid volatile stock market conditions, Yeti’s initial public offering were priced at $18, below the company’s projected range of $19 to $21. Yeti also sold 16 million shares in the offering, down from 20 million initially planned. On the company’s first day of trading on Thursday, shares fell $1.00, or 5.6 percent, to $17.
Rocky Brands Inc. Beats On Q3 Revenue & Income
Rocky Brands Inc. on Tuesday reported net sales for the third quarter ended increased 1.9 percent to $65.9 million compared to $64.7 million in the third quarter of 2017, beating Wall Street estimates by $0.4 million.
Moody’s Affirms Bass Pro’s Ratings On Cabela’s Progress
Moody’s affirmed the ratings of Bass Pro after due to improving margins as synergies from the company’s merger with Cabela’s have arrived ahead of plan. Bass Pro’s debt repayments have also been higher than expected since the acquisition closed.
American Sportfishing Association Appoints New Officers
The American Sportfishing Association (ASA) appointed a new executive committee as well as ex-officio members to the board of directors during the 2018 Sportfishing Summit, the recreational fishing industry’s annual business meeting held October 9-12, just outside Charleston, SC.
Yeti Valued At $1.7 Billion In IPO
Yeti Holdings Inc.’s initial public offering values the company at $1.7 billion, according to an updated filing with the Securities & Exchange Commission. The high-end cooler maker is selling 2.5 million shares and current shareholders are selling 17.5 million shares.
Bass Pro, Cabela’s To Hire 7,000 Seasonal Positions
Bass Pro Shops is looking to hire approximately 7,000 seasonal workers to prepare for the holiday shopping season and the return of its popular Santa’s Wonderland experience. Cabela’s locations will be participating in Santa’s Wonderland for the first time this year.
Scheels To Open Store In Colorado Springs
Scheels All Sports plans to open the company’s second store in Colorado in Colorado Springs in the spring of 2021. The 220,000-square-foot store will feature a 65-foot, 16-car working Ferris wheel, giant saltwater aquarium, “wildlife mountain” of taxidermy specimens and 75 specialty shops.
