SGB Update Sportsmans
Maurice Sporting Goods Fetches $39 Million Stalking Horse Bid In Bankruptcy Proceedings
Middleton Partners has agreed to pay $39 million to acquire Maurice Sporting Goods in bankruptcy proceedings. Middleton Partners will service as a stalking horse bidder to support an auction in bankruptcy court in Wilmington, DE.
Lauren Hobart Makes Appearance In Dick’s Holiday Campaign
Lauren Hobart, who was promoted to president of Dick’s Sporting Goods in May, makes an appearance in several executions of Dick’s Sporting Goods’ holiday television commercials.
Moody’s Reduces Remington Outdoor’s Debt Grade
Moody’s Investors Service downgraded Remington Outdoor Company, Inc.’s Corporate Family Rating to Caa1 from B2 due to its weak operating performance and credit metrics, including high leverage. The downgrade also reflects Moody’s expectation that Remington’s operating performance will not meaningfully improve in the next year or two.
Rocky Brands Announces Sale Of Creative Recreation Brand
Rocky Brands Inc. announced the sale of its Creative Recreation brand to a private investment group.
Black Friday Background Checks Soar To Record High
The FBI said it fielded 203,086 background check requests for gun purchases on the day after Thanksgiving — the highest daily total ever.
Cabela’s To Open On Thanksgiving
Cabela’s, which was acquired by Bass Pro on September 25, will be open on Thanksgiving for what appears to be the first time in its history.
Maurice Sporting Goods Files For Bankruptcy, Pursues Sale
Maurice Sporting Goods Inc., one of North America’s largest distributors of outdoor sporting goods, announced that it has reached a definitive agreement to sell its assets to Middleton Partners. To facilitate the transaction, Maurice and its subsidiaries today filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
Bipartisan Deal Introduced To Tighten Background Checks For Gun Purchases
A bipartisan group of senators on Thursday introduced new legislation that enhances state compliance and accuracy of existing background check systems in place for firearm purchases.
Sportsman’s Warehouse Lowers Guidance On Margin Concerns
John Schaefer, chief executive officer, stated, “While the difficult firearm comparisons that we anniversaried through the first three quarters of fiscal year 2017 will be behind us, we expect a heightened promotional environment which we are reflecting in our sales and margin outlook.”
RECALL: Precision Shooting Archery Crossbows
Precision Shooting Equipment (PSE) has recalled about 17,000 crossbows because they can fire or discharge unexpectedly, posing an injury hazard to the user and to bystanders.
Remington Outdoor Posts Steep Q3 Loss
Remington Outdoor reported a loss of $16 million in the third quarter October 1 against net earnings of $9.5 million a year ago. Sales fell 30.5 percent to $154.1 million.
October Retail Sales Up 4.3 Percent Over Last Year
Retail sales in October increased 0.1 percent over September on a seasonally adjusted basis and were up 4.3 percent year-over-year unadjusted.
Yeti Partners On Whataburger Tumbler
Whataburger partnered with Yeti on a line of Flying W-branded Yeti tumblers.
ISPO Expands Its International Network
Following the new brand mission—to boost sports worldwide, bolster people’s enthusiasm and offer customers added value -ISPO is expanding its international network in the context of ISPO Academy with the addition of Brazil and India.
More Than 164 Million Consumers Plan To Shop Over Thanksgiving Weekend And Cyber Monday
The annual National Retail Federation survey finds that of those considering shopping the long holiday weekend, the survey found that 20 percent plan to shop on Thanksgiving Day (32 million) but Black Friday will remain the busiest day with 70 percent planning to shop then (115 million).
