SGB Update Sportsmans
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.
Velocity Outdoor Appoints National Account Manager
Velocity Outdoor, formerly Crosman Corp., announced that Mike Lindahl has joined the company as national account manager. Lindahl is a seasoned sales and marketing professional with experience in servicing customers and driving organizational revenue growth.
RECALL: Ruger American Pistols
Sturm, Ruger & Company, Inc. has issued a product Safety Bulletin for certain Ruger American Pistols chambered in 9mm.
Cabela’s Credit Card Staffers Face Lay Offs
Capital One Financial, which bought the credit card operation of the former Cabela’s, said 153 employees in Lincoln, NE, will be laid off. In June, about 450 people had been working in Lincoln, NE, servicing the customers of the Cabela’s CLUB card, according to the Omaha-World Herald.
Wells Fargo Gives Sturm, Ruger A New Line Of Credit
Sturm, Ruger & Co. said in a regulatory filing that the company has secured a $40 million revolving line of credit with Wells Fargo & Co.
Firearms Background Checks Drop In September
The September 2018 NSSF-adjusted National Instant Criminal Background Check System (NICS) figure of 919,979 represented a decrease of 9.7 percent compared to the September 2017 NSSF-adjusted NICS figure of 1.02 million.
Gamo/Daisy Adds Industry Veteran VP of Sales
Gamo USA and Daisy Outdoor Products has announced the appointment of Wisconsin native Joe Syring as the new VP of sales for both companies. He will oversee and manage the entire sales system for both of these well-known airgun companies.
Sportfishing Industry Association Elevates Staff To Senior Leadership Positions
The American Sportfishing Association (ASA) on Monday announced the appointment of three staff members to senior leadership positions within the association.
5.11 Opens Store In West Palm Beach, FL
Tactical apparel and gear company 5.11 has opened a brick-and-mortar retail store in West Palm Beach, FL, providing another building block to the company’s 2018 retail expansion goal of 50 company-owned retail stores.
Bass Pro Sues Startups From Ex-Cabela’s Employees
Bass Pro is suing two startup retailers in Sidney, NE, started by former Cabela’s managers, charging they stole proprietary information and violated non-compete agreements in starting their businesses.
Shareholders Win Vote Urging Smith & Wesson Maker To Review Safety Efforts
Investors in American Outdoor Brands Corp., the parent of Smith & Wesson, on Tuesday won a shareholder vote urging the firearms maker to do more to address gun violence. The proposal asks the company to track shootings involving their products and consider investing more in technology to prevent their unauthorized use. Nearly 70 percent of investors in Sturm, Ruger & Co. backed a similar shareholder proposal at that company in May.
