SGB Update Sportsmans
Sturm, Ruger to Absorb Restructuring Costs to Clear Inventories, Realign Organization
In an internal memo marking his 100th day as Sturm, Ruger & Co.’s CEO, Todd Seyfert said he expects the firearms maker to incur $15 million to $20 million in expenses over the remainder of the year to clear obsolete inventories, reset its leadership structure and cover severance as part of an organizational realignment.
U.S. Consumer Sentiment Jumps as Inflation Expectations Improve
Consumer sentiment increased in June for the first time in six months, the latest sign that Americans’ views of the economy have improved as inflation has stayed tame and tariff concerns lessen.
Survey: Retailers Passing Along 51 Percent of Tariff Costs
A survey of 500 U.S. e-commerce executives found that 76 percent had increased the price of goods to mitigate the cost of the new and expected tariffs. On average, retailers are passing along 51 percent of the cost of President Trump’s import taxes on to consumers.
CNBC/NRF Retail Monitor Notes Robust Sporting Goods Sector Continued into May
Growth in the Clothing, Footwear and Accessories store sector decelerated from the April trend. The category that includes Sporting Goods stores was up 8.2 percent y/y unadjusted in May after a robust 9.2 percent y/y gain in March.
Study Shows Strong but Conditional Public Support for Hunting and Sport Shooting
Americans understand the value of ethical hunting and shooting sports, but the results from the survey inform that intention matters and that maintaining public trust requires continuous outreach and education.
FishUSA Hires Kirk Guthrie to Lead New Wholesale Operation
Kirk Guthrie joins FishUSA after 30 years in the fishing tackle industry, where he has focused on driving growth, optimizing dealer programs and building sales teams. Most recently, he was the national accounts manager at Big Rock Sports.
Dick’s SG Joins Top 50 Most Patriotic Brands for First Time; New Balance Falls in Rankings
Nike, Wilson Sporting Goods, LL Bean, Gatorade, New Balance, Converse, and Dick’s Sporting Goods all earned spots on Brand Keys 24th Annual Most Patriotic Brands survey of the Top 50 U.S.-based brands that embody the value “patriotism.” The NFL, NBA and MLB also made the list. Dick’s made the list for the first time.
Target Increases Quarterly Dividend
Target Corp. declared a quarterly dividend of $1.14 per common share, a 1.8 percent increase from the prior quarterly dividend of $1.12.
Ruger Appoints VP, General Counsel and Corporate Secretary
Sarah Colbert was promoted to vice president, general counsel and corporate secretary. She succeeds Kevin B. Reid, Sr., who is retiring after serving as vice president and general counsel since 2008.
Carbitex Enters Tactical Boot Market
The collaboration introduces Carbitex’s MonoFlex M1 technology into Prabos’s professional footwear tactical boot line. both companies aim to meet the demanding requirements of military and law enforcement personnel.
NFIB: Small Business Optimism Rises For First Time This Year
A gauge of sentiment among small businesses, rose to 98.8 in May from 95.8 in April, bringing the Index back above its long-term average, represented by a reading of 98. The increase ends a four-month streak of weakening sentiment.
Duluth Holdings Undergoes Layoffs
As part of its expense savings initiatives to rightsize the business, the retailer reduced its workforce by 51 employees, or 3 percent of its total workforce, on June 4.
Orvis to Close Chicago Store
The storefront, located on the Magnificent Mile, will close on July 24, after two decades, “due to the changing retail landscape on the Magnificent Mile.”
Warbird Marine Holdings Names New CEO
The parent of Invincible Boats and Yellowfin Yachts appointed Thomas Wieners, COO, as CEO. John Dorton, current CEO who formed Warbird Marine Holdings in partnership with EagleTree Capital in 2019, transitioned to the role of executive chairman.
Academy Sports and Outdoors, Inc. Sees Profits Sink on Comp Sales Decline
Academy Sports and Outdoors, Inc. reported first-quarter earnings and sales that came in below analyst targets. The sporting goods chain widened its guidance for the year to account for potential additional pressure on earnings in the second half tied to inflation.
