SGB Update Outdoor
EXEC: Jobs Report Sends Markets Lower on Concerns Over U.S. Economy
The U.S. economy only added 114,000 non-farm payroll jobs in July, fewer than the 175,000 expected by economists. The unemployment rate rose to 4.3 percent — its highest level since October 2021.
Onebeat Expands Executive Leadership Team, Appoints Chief Revenue Officer
Sevonne Eliyahu brings nearly two decades of growth strategy and executive experience at tech giants, including SimilarWeb and LivePerson.
Sportsman’s Warehouse Secures $45 Million Term Loan
With the addition of the $45 million term loan, the company’s total borrowing capacity, which includes its revolving credit facility, is now $395 million.
Fox Factory Specialty Gets Marucci Lift to Offset Q2 Decline in Bikes
The increase in Specialty Sports Group sales was primarily related to the inclusion of $41.6 million in net sales from Marucci, which the company acquired in 2023, partially offset by a $22.9 million reduction in bike sales.
Black Diamond’s Q2 Weakness Weighs on Parent; Pieps Up For Sale
Clarus Corp. logged a Q2 loss as sales sunk 2.4 percent. A 13.6 percent sales gain in its Adventure segment was offset by a 9.7 percent slide at Black Diamond that was blamed on weakness in North American DTC operations and softness in Europe. Clarus lowered its full-year earnings guidance to reflect weakness as well as investments in its Adventure segment while indicating it’s exploring a sale of its Pieps snow safety brand.
NSGA Names Hayley Fansler Business Development Director
The National Sporting Goods Association (NSGA) promoted Hayley Fansler to business development director. Fansler joined NSGA in March 2018 as business development manager.
Moody’s Sees Vista Outdoor’s Continued Strategic Reviews as ‘Credit Negative’
The prolonged strategic uncertainty at Vista Outdoor since the original spin-off plan was announced in May 2022 and continued delays in choosing between potential sales offers or a spin-off are credit negative for Moody’s because it diverts management focus and company resources away from core business operations.
Crocs, Inc. Posts Q2 Growth Despite Flat Wholesale and HeyDude Fall
Crocs Brand revenues increased 9.7 percent (+11.2 percent CC) to $914 million while HeyDude Brand revenues continued to contract, decreasing 17.5 percent to $198 million.
Yue Yuen Forecasts Robust Earnings Gains In First Half
Yue Yuen reported that net income will surge in the range of 115 percent to 120 percent in the first half, to $83.6 million, attributable to a pickup in footwear manufacturing.
Canada Goose Relies on DTC in Fiscal Q1 as Wholesale Falls 41 Percent
Total revenue increased 4 percent year-over-year to CN$88.1 million in the fiscal first quarter, and posted 3 percent growth on a constant currency (CC) basis.
Camping World Sees New Vehicle Unit Sales Picking Up as Used Units Fall
Year-over-year same-store new vehicle unit growth accelerated into the mid-teens in June and into the low-twenties in July, as new vehicle unit sales jumped 16.9 percent for the quarter. Used vehicle unit sales fell 11.7 percent year-over-year.
BOA, Primaloft and Lugano Lead Gains in CODI’s Branded Consumer Group
Compass Diversified (CODI) saw Q2 sales grow 11 percent on a pro-forma basis to $373.5 million in its Consumer Brands segment, led by gains by BOA, Primaloft and Lugano. The segment also includes 5.11 and Velocity Outdoor.
EXEC: Sportscape Executes Debt Refinancing
Houlihan Lokey served as the exclusive financing advisor to arrange, structure, and negotiate the debt raise for Sportscape, which closed on 23 July 2024.
Garmin Beats Q2 Plan with Boost from Fitness and Marine Segments
Garmin sales grew 14 percent in the quarter to $1.51 billion from $1.32 billion a year ago, supported by gains of 28 percent in its Fitness segment and 26 percent at its Marine segment.
Report: U.S. Consumer Confidence Shows Slight Uptick in July
Data released July 30, showed that The Conference Board’s gauge for July increased to 100.3 from a downwardly revised 97.8 in June. Based on consumers’ assessment of today’s business and labor market conditions, The Conference Board’s Present Situation Index declined to 133.6 from 135.3 last month.
