Sporting Goods Industry News for April 30, 2024
Reporting first quarter results that were in line with its pre-announcement earlier this month, The Big a’s bottom line swung to a profit of €170 million ($185 mm) from a loss of €39 million, as revenues improved 3% to €5,458 million ($5,933 mm) from €5,274 million.
The outdoor co-op continued to struggle last year, seeing the red ink deepen to a $311,128,000 loss from a $164,712,000 loss the year before, as revenues slipped 2% to $3,758,226,000 from $3,850,174,000.
The bottom line swung back to $2,500,000 in profit for the first quarter after last year’s loss of $398,000 as sales ticked up 2% to $112,906,000 over $110,445,000 on a reported basis.
The CA-based retailer continued to underperform in the first quarter, carrying Q4’s big loss forward with $8,286,000 of red ink against a $193,000 profit a year ago.
Retail destocking moving through the seventh inning stretch and higher-price-point consumer resilience are some of the industry trends AOUT noted as it drives towards a $400 million top line, as it shared its five-year plan progress at the SHARE conference.
The high-end putter startup, which went public last year, says it expects revenues to double sequentially in Q2.
Gregg Ritz, former president and CEO the company, inked a definitive agreement to acquire the Thompson/Center Arms business from Smith & Wesson.
AS is divesting the cycling brand to UT-based private investment firm PV3, which is lead by entrepreneur and cycling enthusiast Mark Hancock, for undisclosed terms.
The rifle and accessories maker appointed Jeff Stawiarski as CEO, where he’ll be responsible for the company’s strategic direction and growth.
The Eager Beavertons have settled all trademark infringement claims with the Japanese streetwear brand, and asked the case be dismissed with prejudice, according to a filing in So. NY federal court.
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