August 24, 2020
In the last two weeks, firearm makers have seen Remington file for Chapter 11 protection for the second time in two years, Smith & Wesson spin-off its diversification acquisitions to insulate them from its gun-making business and Vista Outdoor get its debt ratings upgraded after it cleaned up its balance sheet and focused its gun business on the ammunition side.
Sales at Super Retail Group’s sporting goods banner increased 2% to A$1,038.6 million ($692.4 mm) from A$1,016.4 million for the fiscal year ended June 27, including same store sales growth of 2.7%.
Net income attributable to owners of the company was just HK$757,000 ($0.1 million) for the first half, down from a profit of HK$34,578,000 last year, as sales declined 17% to HK$430,952,000 ($55.6 mm) from HK$521,181,000.
The former Sports Direct is acquiring 43 gyms and 31 sporting goods stores in the U.K. in an asset purchase for £37 million in cash, and plans to rebrand them under the group’s existing Everlast brand.
PE firm Asgard Partners has sold the technical outdoor and tactical apparel and gear company to National Safety Apparel, which will add Wild Things to its portfolio of brands.
USB is diversifying its portfolio of protective and sporting goods brands with the acquisition of energy supplement brand Glukos Energy.