Sporting Goods Industry News for April 22, 2024
VSTO’s deal to sell its ammunition business to Czechoslovak Group has still not received CFIUS approval, and the company has now engaged with investment firm MNC Capital as a back-up plan.
The march towards GIL’s May 28 annual meeting took another swerve Monday when GIL announced five new independent directors will take seats on the board effective May 1, including a changeup in the chairmanship, to support new CEO Vince Tyra and the proposed sale of the company.
The Hong Kong-listed Chinese sportswear brand saw sales inch up low-single digits, excluding its Li Ning Young sub-brand, with directly operated retail sales up mid single-digits, while e-commerce grew low-teens.
Following recent investments from Goldman Sachs and Comvest Partners, Kent Outdoors inked a $100 million asset-backed credit facility with Eclipse Business Capital aimed at supporting new product lines and bringing in new leadership.
Smith & Wesson, Sturm, Ruger and several other gun manufacturers filed a petition for a Writ of Certiorari asking the Supreme Court to reverse a First Circuit decision allowing a lawsuit by the Mexican government to move forward.
LULU, which recently opened a huge new facility near Los Angeles, is closing down its 150,000-sq.-ft. Sumner, WA, DC and will lay off 128 employees there, according to a WARN notice filed with the state.
DECK filed suit in IL district court accusing Australia-based Wolverine Group, which is not related to Wolverine Worldwide, of infringing on the Ugg name and related trademarks.
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