LaCrosse Closes END Acquisition
June 3, 2009
 |
(Follow up to earlier article: here)
PORTLAND, Oregon — LaCrosse Footwear, Inc. (Nasdaq/NMS:BOOT), a leading provider of branded work and outdoor footwear and apparel, announced yesterday the completion of its acquisition of certain assets of Environmentally Neutral Design Outdoor, Inc., or END, a performance footwear company focused on product innovation and sustainability. Through the agreement LFI acquires substantially all the assets comprising END’s footwear business, including inventory, intellectual property, and other assets.
END began shipping product in late 2008 to provide everyday athletes with high performance footwear that follows responsible design, and is innovative and technical. END footwear has already received the honors of “Best Trail Running Shoe Debut” from Runner’s World magazine in their April 2009 issue and “Best Road Running Shoe Debut” in their June 2009 issue. The company will debut its Spring 2010 line at upcoming shows including the Outdoor Retailer Summer Show.
About LaCrosse Footwear, Inc.
LaCrosse Footwear, Inc. is a leading developer and marketer of branded, premium and innovative footwear for expert work and outdoor users. The Company’s trusted Danner® and LaCrosse® brands are sold to a network of specialty retailers and distributors in the United States, Canada, Europe and Asia. Work customers include people in law enforcement, agriculture, mining, construction, military services and other occupations that need high-performance and protective footwear as a critical tool for the job. Outdoor customers include people active in hunting, outdoor cross training, hiking and other outdoor recreational activities. For more information about LaCrosse Footwear products, please visit our Internet websites atwww.lacrossefootwear.com and www.danner.com. For additional investor information, see our corporate website at www.lacrossefootwearinc.com.
David Carlson, LaCrosse Footwear (503) 262-0110 ext. 1331
More financial uncertainty in the outdoor industry.
June 3, 2009
In today’s (June 3) Outdoor Wire feature article, Jim Sheperd posted some more bad news for the outdoor industry. Below is a the beginning part of it and the link to read the rest of it……
Late Monday afternoon, Jacobs’ Genmar Holdings, Inc. shocked the boating and outdoor world with a filing for protection from creditors via a Chapter 11 bankruptcy petition.
According to the filing, the continued recession and higher gasoline prices have hammered Genmar and a product line that extends from 12-foot fishing boats to luxury yachts. Sales had dipped in 2008, but had plummeted since then.
As the man once known as “Irwin the Liquidator” for his astute purchases of bankrupt businesses said, “Even up until the last few weeks, this is something I never even dreamt was a remote possibility.”
The Chapter 11 petition, filed in St. Paul, Minnesota, lists assets of $237.5 million and liabilities of $216.4 million. Omitted from the filing are more than $400 million in “intangible assets”. The only secured creditors, Wells Fargo and Fifth Third Bank, are owed $75 million.
In fact, the filing credits Wells Fargo with forcing Genmar into court through its continued reduction in Genmar’s credit lines. “Despite restructuring steps and infusion of significant equity, the bank reduced [credit] availability,” the bankruptcy filing states. “The bank rejected all … proposals for making adequate capital available and continued to reduce the borrowing base.”
Despite the filing, Jacobs told me yesterday that Genmar is still viable. In fact, he said, “It’s a difficult thing, but I expect Genmar to come out of this situation even stronger than before.”
Gear For The Gals – Rocky Introduces Women’s Apparel Line
May 31, 2009
NELSONVILLE, OH – More and more, women are taking to the woods for hunting season, and Rocky recognizes they need to be dressed for it.
“Just because women have moved into what has traditionally been a men’s sport doesn’t mean they have to dress in men’s clothes,” says Rocky apparel Vice President John Maser.
Indeed, Rocky’s new women’s line is designed to fit a woman’s body. The line has classic women’s clothing features like a slim, tailored fit, smaller collar lines, and shorter hems and inseams in the sleeves, legs, and shirt bottoms.
“We wanted to make sure we got it right,” said Maser of Rocky’s foray into women’s apparel. “Our fit experts performed hundreds of measurements and fittings on women of all sizes, from fit models to our employees and their family members!”
The women’s line is available in Rocky’s new SilentHunter, which is an updated version of its extremely popular line with Scent IQ (SIQ) technology. The ultra comfortable SilentHunter boasts a multitude of sport-ready features that are already hunter favorites.
Rocky’s soft, micro suede Silent Hunter material not only provides superior comfort, but also provides extreme stealth for stalking game. SIQ Atomic helps control human odor on a microbial level, providing scent-invisibility to the wearer while the moisture-wicking lining provides dryness and perspiration control. Features like scores of conveniently located silent-zip pockets for holding the necessities, double knee and seat patches for kneeling and sitting, and adjustable leg openings for blocking cold and debris will only add to the Rocky woman’s hunting experience.
Women’s SilentHunter is available in sizes small to extra large, and features Mossy Oak Break-Up camouflage. Styles include a half-zip, long-sleeve shirt and cargo pants, ranging in price from $44.99 to $69.99.
Founded in 1932, Rocky manufactures and markets rugged outdoor, duty, work and western footwear, apparel and accessories. The company’s products are available in nearly 3,000 retail and catalog outlets. It is a division of Rocky Brands, a publicly traded company on NASDAQ® under the symbol: RCKY. More information can be found at www.rockyboots.com.
LaCrosse Will Acquire END Footwear
May 31, 2009
PORTLAND, Oregon –LaCrosse Footwear, Inc. (NASDAQ:BOOT), a leading provider of branded work and outdoor footwear and apparel, announces a newly-formed subsidiary has entered into a definitive agreement to purchase certain assets of Environmentally Neutral Design Outdoor, Inc., or END, a performance footwear company focused on product innovation and sustainability. Subject to customary closing conditions, through the agreement LFI will acquire substantially all the assets comprising END’s footwear business, including inventory, intellectual property, and other assets. The purchase price is expected to be approximately $500,000 and the transaction is expected to be completed by the end of May.
END began shipping product in late 2008 to provide everyday athletes with high performance footwear that follows responsible design, and is innovative and technical. END footwear has already received the honors of “Best Trail Running Shoe Debut” from Runner’s World magazine in their April 2009 issue and “Best Road Running Shoe Debut” in their June 2009 issue.
Once the acquisition is completed, the new LFI subsidiary will continue to sell footwear under the END brand name and will continue operations from END’s Portland, Oregon location. Andrew Estey, current CEO of END, and key employees will move to the new subsidiary. “END is encouraged to have the opportunity to continue our efforts to pursue our mission to develop environmentally neutral designed footwear. We believe that leveraging the back end operations and resources of LaCrosse will assist us in having a swifter and more significant impact on the footwear industry,” said Estey.
Economy Motivates National Retailer To Provide Free Family Summer Activities
May 29, 2009
I read this on the Outdoor Wire:
Springfield, Missouri-(May 21, 2009) With families struggling through the economic downturn, one retailer has decided to do something to help families enjoy activities together as a family at a very affordable price – absolutely free!
Beginning Saturday, May 30th and continuing through Sunday, July 5th, Family Summer Camp events will be held at Bass Pro Shops destination retail stores across America and Canada (the event will not be at Miami, FL, Branson, MO, or the Worldwide Sportsmen in Islamorada, FL).
Every Saturday and Sunday stores will be offering free craft activities for the kids including decorating a fishing bobber, making key chains, designing their own birdhouse, creating plaster animal tracks and painting a souvenir wooden lure for Dad.
The whole family will enjoy free outdoor workshops about hiking, camping and fishing basics. Other workshops include bird watching, archery, animal identification, plants & insects, and even how to make campfire S’mores. Kids will earn a collectable pin for every workshop completed.
Store activities will vary but could include a laser shooting gallery, casting pond, soft strike foam bow range and BB gun range. You can even have a souvenir photo made or test drive a kayak in the kayak pool. Again, absolutely free!
Ruger Announces New SR-556 Rifle
May 29, 2009
 |
The patent pending two-stage piston driven operating system in the Ruger SR-556 provides a smooth power delivery stroke to the action and vents combustion residue out of the bottom of the gas block. The four-position adjustable gas regulator allows the operator to tune the rifle to specific ammunition and rifle conditions, minimizing recoil and maximizing reliability and long-term endurance. Reliability is further enhanced by a one-piece bolt carrier with an integral transfer key.
Firearms industry excited about high tax revenues
May 23, 2009
by Jeff Leonard
Saturday, May 16, 2009
While the country deals with a period of economic uncertainty, large-scale corporate bailouts and the recent “Tea Party” tax protests, it seems unlikely that anyone would be excited about the federal government collecting an unusually high amount of taxes.
But that’s exactly the case in the firearms industry. According to a recent report released from the Department of Treasury, firearms and ammunition manufacturers paid more than $98 million in excise taxes in the fourth quarter of 2008. This is a 31.3 percent increase over the same time period in 2007.
The National Shooting Sports Foundation (NSSF), the leading trade association of the firearms industry, touts the numbers proudly.
“Demand for firearms and ammunition is clear,” said NSSF President Steve Sanetti. “Since the November elections we’ve seen an increase in firearm ownership coupled with an unprecedented level of attendance at firearm safety courses nationwide.”
“Americans are buying firearms, and they’re taking the proper precautions to ensure they exercise their individual Second Amendment rights safely and responsibly,” Sanetti continued.
Just where do these taxes originate? They are the result of the Firearms and Ammunition Excise Tax, which is collected by the Alcohol and Tobacco Tax and Trade Bureau, or TTB, a division of the U.S. Treasury Department.
The taxes, according to the TTB, are obtained through the sales of firearms and ammunition. For every handgun sold, 10 percent of the sales price goes to pay the excise tax. For ammunition and long gun purchases, 11 percent percent of the sales price is to cover the tax.
These collected taxes revenues are distributed to the U.S. Fish and Wild Service, which divides the funds among state government agencies to be used on wildlife habitat restoration, hunter education, wildlife management, wildlife research and shooting ranges, according to TTB.
The Treasury Department report, which covers the time period of Oct. 1, 2008, through Dec. 31, 2008, shows $27.6 million was collected for pistols and revolvers, $35.0 million for long guns and $35.5 million for ammunition.
Compared to the same quarter in 2007, collections were up 70.1 percent for handguns, 11.4 percent for long guns and 31.1 percent for ammunition according, to the NSSF. These figures close out the 2008 calendar year with a total of $345.2 million collected in excise taxes, an increase of around $42 million over what was collected in 2007.
The NSSF indicates excise taxes on firearms and ammunition traditionally raise more than $163 million annually for wildlife programs. Since 1937, these taxes alone have raised over 4 billion to help in conservation efforts.
“These numbers speak to a much greater story,” said Lawrence G. Keane, NSSF Senior Vice President and General Counsel. “America’s gun owners have serious concerns about the country’s current political make-up. Lawmakers should recognize this and understand that these gun owners are not merely consumers buying a product, but voters reacting to a very real threat.”
Outdoors correspondent Jeff Leonard can be reached at outdoors@npgco.com
Firearms Sales Figures for April
May 23, 2009
NEWTOWN, Conn. — The upward trend in firearms sales continued in April, marking the sixth consecutive month of significant increases.
 |
Data released by the FBI’s National Instant Criminal Background Check System (NICS) reported 1,225,980 checks in April 2009. This figure is a 30.3 percent increase from the 940,961 reported in April 2008.
FBI background checks are required under federal law for all individuals purchasing either new or used firearms from federally licensed retailers. The checks serve as a gauge of actual sales but do not reflect the actual number of firearms sold, since, following a background check, a customer may decide not to purchase a firearm or may purchase more than one firearm.
The April increase follows a 29.2 percent gain in March and rises of 23 percent in February, 28 percent in January, 24 percent in December and 42 percent in November when a record 1,529,635 background checks were performed.
The increase in NICS checks coincides with a rise in excise taxes reported by firearms manufacturers, another indicator of firearm sales.
Thompson/Center Arms Announces New Sales Organization
April 30, 2009
 |
The new Thompson/Center Arms Sales organization, led by MacLellan, will be responsible for ongoing sales growth efforts and for establishing accessory merchandising initiatives. As the company continues to develop high quality products, the newly formed sales organization will provide Thompson/Center with increased visibility in the marketplace and increased support for distributors and retailers.
“Having served as a National Account Manager for Smith & Wesson and having amassed 20 years of experience in sales and sales leadership, John is well qualified for this new role,” said Leland Nichols, Smith & Wesson’s Senior Vice President, Sales & Marketing. “Prior to joining Smith & Wesson, John held sales positions at both Anderson Windows and Timbron International, where he was instrumental in developing new sales tools and expanding the retail network of both companies.”
Nichols continued, “We are also excited about the addition of Dunkin-Lewis, Sportco Marketing, J Harding Associates, and our continued relationship with the Graywood Sporting Group in Canada. These companies are among the pillars of our industry. Together, they provide us with more than 70 sales representatives with centuries of cumulative sales and promotion experience in the hunting market. As the Thompson/Center product line continues to evolve and expand, the talent and market savvy that these companies bring to the team will complement our growth objectives.”
The Thompson/Center Sales organization will actively promote the company’s traditional line of hunting firearms and interchangeable firearms platforms while expanding industry awareness of the four new models introduced earlier this year. At the 2009 SHOT Show, Thompson/Center introduced four new models that expand the company’s portfolio of high-quality hunting products at various price points. New models for this year include the T/C® Venture bolt-action rifle, Thompson/Center ICON® Precision Hunter, Triumph® Bone Collector muzzleloader and ICON® bolt-action rifles in long-action calibers with Weather Shield® finish.
About Thompson/Center and Smith & Wesson
Smith & Wesson Holding Corporation is parent company to Smith & Wesson Corp., one of the world’s largest manufacturers of quality firearms and firearm safety/ security products. Smith & Wesson Holding Corporation is also the parent company to Thompson/Center Arms Company, Inc., a premier designer and manufacturer of premium hunting rifles, black powder rifles, handguns, interchangeable firearms systems and accessories under the Thompson/Center Arms brand. Smith & Wesson also licenses shooter protection, knives, apparel, and other accessory lines. Smith & Wesson is based in Springfield, Massachusetts with manufacturing facilities in Springfield, Houlton, Maine, and Rochester, New Hampshire. The Smith & Wesson Academy is America’s longest running firearms training facility for law enforcement, military and security professionals. For more information on Smith & Wesson, call (800) 331-0852 or log on to wwww.smith-wesson.com. For more information on Thompson/Center Arms, log on to www.tcarms.com.
The Outdoor Wire – Wednesday’s Industry news briefs
April 29, 2009
Rocky Brands (Nasdaq:RCKY) reports first quarter of 2009 net sales decreased to $50.1 million versus net sales of $60.5 million in the first quarter of 2008, with a net loss of $1.1 million, or ($0.20) per diluted share versus net income of $0.3 million, or $0.05 per diluted share a year ago…
SIG SAUER announces a government contract to provide pistols to the U.S. Army’s Material Command. The first order is more than 55,000 units to become the standard sidearm of the Colombian National Police….
A celebration to kickoff Maryland’s 2009 boating season will be held on Saturday, May 30, at Sandy State Park….
Tim Zink, formerly of the Theodore Roosevelt Conservation Partnership (TRCP) accepts the director of communications and marketing position for the National Fish and Wildlife Foundation. Zink will assume his new duties beginning Monday, May 4, 2009.
