September 20, 2019
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.
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.
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.
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.
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.
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.
The firearms, ammunition and accessories wholesaler appointed DiCenso, founder and managing partner of shooting sports industry focused management consulting firm Growth Strategy Partners.
HanesBrands is donating over 225,000 pairs of underwear, about $1 million worth, to Hurricane Dorian victims in the Bahamas and coastal North Carolina.