September 20, 2019 Q2 Imports Relatively Steady Despite Trade War Threat
With the threat of increased tariffs still somewhat speculative as importers placed their Q2 orders, sporting goods imports overall were up just 3.0% to $5,694.5 million from $5,528.2 million with sneaker imports slightly down 0.8% to $1,664.9 million against $1,658.8 million, sports apparel imports up 5.3% to $970.3 million against $921.8 million and equipment imports up 4.5% to $3,079.4 million against $2,947.6 million. Colt Halts AR-15 Production for Civilians
The gunmaker has suspended manufacturing of civilian versions of its AR format rifles citing the glut of those rifles on the market, and will shift that capacity to making ARs to fulfill its military and law enforcement contracts. JD Sports’ Footasylum Acquisition Draws Scrutiny
The U.K.’s Competition and Markets Authority, which must approve mergers there, much as the Federal Trade Commission does in the U.S., is questioning whether JD’s acquisition of the 70 store chain will result in higher prices for consumers. U.S. Gives Temporary Exclusions to Over 400 Chinese Imports
The US Trade Representatives office gave exclusions from new tariffs to around 400 of the 1,100 applications but relief for sporting goods companies was minimal. Vista Outdoor Downgraded by Standard & Poor’s
Following VSTO’s revised guidance revealed at its investor day last week, the ratings agency has lowered its issuer credit rating B from B+ because its expect profits to remain weak this year and leverage to remain above 5x. Shoe Carnival Elevates Cliff Sifford, Others
SCVL added the vice chairman title to CEO Sifford, who relinquished the title of president to Mark Worden, who was previously the retailer’s EVP and chief strategy and marketing officer. Camfour Hires Christopher DiCenso as President
The firearms, ammunition and accessories wholesaler appointed DiCenso, founder and managing partner of shooting sports industry focused management consulting firm Growth Strategy Partners. HanesBrands Sends Undies to Bahamas
HanesBrands is donating over 225,000 pairs of underwear, about $1 million worth, to Hurricane Dorian victims in the Bahamas and coastal North Carolina. Etcetera: Stio, CSSI, Patagonia
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