March 09, 2018
Since 2016, we have undergone a well-documented upheaval in the sporting goods retail sector, the result of private equity companies buying retailers with the intention of flipping them in a few years for a profit. That strategy entailed maximizing EBITDA which is another way of minimizing investment in stores, systems and e-commerce platforms.
At least 300 Cabela’s employees that were offered a bonus to leave the company by Mar. 1 will be exiting the company.
Net income slipped by two-thirds to €10,501,000 ($11.8 mm) from €32,292,000 in 2017 on 2% higher revenues at €1,068,473,000 ($1,204.6 mm) vs. €1,048,152,000 despite a decline in North America.
The bankrupt toy retailer is preparing to liquidate its remaining stores after failing to find a buyer, according to a report in Bloomberg, citing inside sources.
The wool-based performance apparel company, which had been liquidating remaining inventory through Q4, has been acquired by New York-based investor Flour Fund, according to multiple reports.