April 14, 2023
Sales in the Holiday quarter grew by 5% to $60,048.9 million from $57,433.6 million at the 54 public companies we track, but rising costs and more promotions than last year sent aggregate net income down by nearly half to $2,539.7 million from $4,869.7 million.
Adjusted sales of sporting goods/hobby/book and music stores increased 3% last month to $9,387 million from $9,113 million, according to Commerce Dept. data, increasing slightly from Feb.’s total sales.
Omega Sports, a 45-year-old family running and sporting goods retailer, announced it will shutter its seven remaining locations and cease its e-commerce operation.
The owner of Huk and Nomad tapped industry veteran, Dean Rurak as CEO, succeeding Edwin Lewis, who will continue to serve as the company’s chairman.
Mammut North America, which said its business has doubled year-over-year, named four VPs to bolster sales, operations, marketing, and partnerships, with aims for 100% growth over the next three years.