SGB Update Sportsmans
Axil Brands Inks Distribution Agreement with Kinsey’s Inc.
Axil Brands, Inc. inked a distribution agreement with Kinsey’s, Inc. to distribute Axil hearing protection and enhancement products in the shooting sports and outdoor recreation/hunting market.
CNBC/NRF Retail Monitor Shows Growth in April Retail Sales
The Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
Yeti Inc. Lifts Fiscal Year EPS Guidance After Q1 Sales and Earnings Beat
Yeti, Inc. raised its earnings guidance for the year after reporting first-quarter earnings easily topped analysts’ expectations. Earnings on an adjusted basis surged 89 percent while sales grew 13 percent, boosted by a re-acceleration in domestic growth with balanced growth across drinkware and cooler segments.
Vista Outdoor’s Quarterly Sales Slide as Ammunition Declines Offsets Outdoor Gains
Vista Outdoor reported adjusted EBITDA decreased 7.5 percent in the fiscal fourth quarter ended March 31 as sales declined 6.4 percent. The Revelyst outdoor segment returned to organic growth for the first time in nine quarters but the Kinetic ammunition business saw a double-digit drop.
NRF Monthly Import Cargo To Reach 2 Million TEU Through Early Fall
“We haven’t seen numbers this high for this many months in almost two years.” —NRF Vice President Jonathan Gold
MasterCraft Boat Cuts Outlook as Sales Fall 43 Percent, Retail Sees Turmoil to Start the Year
Consolidated net sales are now expected to be between $360 million and $365 million, with Adjusted EBITDA between $28 million and $30 million. Mastercraft had previously narrowed its guidance range, calling for net sales between $400 million and $412 million and Adjusted EBITDA between $42 million and $47 million.
Report: U.S. Sports Participation Increased Across Most Categories in 2023
Pickleball continues to grow in popularity, with the highest percentage increase year-over-year for the fourth consecutive year. Pickleball was up 54 percent in 2023 vs 2022.
Wolverine Worldwide Business Continues to Shrink in Q1 While Turnaround Progresses
Revenue for the ongoing business fell nearly 25 percent in Q1, The parent of the Merrell, Saucony, Wolverine and Sweaty Betty brands said it is beginning to see proof points emerge as early validation of its strategy and execution on its turnaround and transformation plan.
ZeroTech International Hires Digital Marketing Manager
Chris Woodrow joined ZeroTech, the parent of ZeroTech Optics and the manufacturer of Lightforce, Nightforce, APRS, and Force Ordnance, as digital marketing manager.
Wolverine Worldwide Names New CFO
Taryn Miller was appointed as the company’s chief financial officer. She will succeed Michael D. Stornant, who is retiring after nearly 30 years with the company.
Sturm, Ruger Cuts Jobs to Right-Size Business as Profits and Sales Decline
Accrued severances of $1.5 million related to a reduction in force that involved about 80 employees.are expected to be settled in cash and consist of one-time termination charges arising from severance obligations and other customary employee benefit payments.
GoPro Q1 Loss Expands as DTC Web Sales Tank and Retail Surges 33 Percent
Revenue from the retail channel was up 33 percent year-over-year, while GoPro.com revenue, including subscription and service revenue, was down 48 percent year-over-year.
Rapala VMC Mourns Passing of Long-Time CEO and Former Chair Jorma Kasslin
Jorma Kasslin reportedly died suddenly after a brief illness on April 14. Kasslin was 70 years old and had been a member of Rapala VMC’s Board since 1998, serving as chairman from 2016 to 2018 and as president and CEO from 1998 to 2016.
Report: First Quarter Results Show Economy is Slowing but “Remains Resilient”
Economic growth slowed during the first three months of the year, but consumers are still spending more than last year, according to recent comments from National Retail Federation (NRF) Chief Economist Jack Kleinhenz.
Nordstrom, Inc. to Open New Rack Location in Minnesota
The new 30,000-square-foot Nordstrom Rack store will be in Apple Valley, MN, and it is scheduled to open in spring 2025 in the Fischer Marketplace.
