Newell Brands reported declining sales at Pure Fishing in the last quarter of 2017. However, the performance of other companies within its Play division – notably Coleman, Contigo, Marmot and Team Sports – helped the sector deliver net sales of $563m compared to $529m, an increase of 6.6%.
Overall Newell Brands reported group net sales of $3.7 billion, a 9.5% decline on the previous comparable quarter in 2016. This was put down to a negative impact of the sale of companies deemed non-core to the business. “The fourth quarter results were in line with those announced earlier,” said Michael Polk, Newell Brands CEO. “The entire Board and management team recognise what needs to be done and we have taken decisive action to deliver the results and value our shareholders expect.”
In January the group announced a series of strategic initiatives to accelerate its ‘transformation plan’, including the option of selling off smaller businesses and focusing on nine core consumer divisions with approximately $11b in net sales.
For the full year, net sales increased by 11.1% to $14.7b from $13.3b. For the 2018, Newell is predicting net sales to be in the region of between $14.4b to $14.8b.
(Angling International – by Anthony)
Rapala VMC Corporation reported a 3% decrease in sales last year.
Rapala VMC Corporation branded 2017 as an ‘exceptional and challenging year’ as it reported a 3% decrease in sales for the period.
In its report to investors this morning, the group said its performance during the year was hindered by operational challenges at its Indonesian manufacturing facility, retail turmoil in North America, which saw two of its key customers enter Chapter 11 bankruptcy, and declining market conditions in Russia and France.
Jussi Ristimäki, President and CEO, added: “The ongoing structural changes in the US retail market had a negative impact on our sales and profitability as consumers are increasingly going online. We are responding to this by making more investments in our digital presence and by increased focus on customers operating online.”
The positive highlights for the group were good sales development in its carp business, sales of its Marttiini knives, alongside successful turnarounds in the Canadian and Southeast Asia markets.
Ristimäki added: “Execution of our strategy of improving profitability, lightening the balance sheet and improving operational performance is proceeding well. In July we made some changes to our management structure to speed up the process.
“One of the key priorities for 2018 is to generate a significant profitability improvement at our Indonesian lure factory. We will elaborate more on strategy and its execution in a capital markets day organised in May.”
The group reported net sales of €253.3m compared to €260.6m in 2016 and a comparable operating profit of 11.4m (2016: €18.8m).
(Angling International – posted by Anthony)
Raymarine broke new ground air last week at the Miami Boat Show by unveiling drone compatibility on Axiom MFDs. Right now, the party trick works with DJI Spark and Mavic drones—two of the most affordable and popular portable drones on the market.
The strike: At first glance, the move might solicit eye rolls…until you think about the potential applications of a 4K video drone like the Mavic Pro scouting shoals and flats for you. Plug in a few battery chargers to your boat, and you’ve got a James Bond-like spy machine capable of sniping fish out from miles away. The integration also ups the game for fishing videographers, who suddenly have an even more impressive answer to the windscreen-mounted GoPro.
According to an internal memo obtained by the Omaha World-Herald, many Cabela’s employees have until March 1 to accept a buyout offer from Bass Pro Shops. Who gets the offer? Sidney, Nebraska-based employees who are over 50 years old, with a minimum of one decade of service, are being offering two weeks of severance pay for each year of service, in addition to a $40,000 bonus to accept.
Younger employees with less than a decade of service are being offered the same severance pay, plus a $20,000 bonus for departure.
Meanwhile, At least 19 management level employees at Cabela’s have been laid off in recent weeks. Bass Pro Shops isn’t releasing official figures, but does confirm that they are “adjusting staffing” at Cabela’s stores across the country.
“Many of the outfitters impacted received promotions to other management roles, while some were eliminated,” Bass Pro Shops Communications Manager Katie Mitchell told FTR. “Ultimately, this adjustment will increase the overall headcount of team members.”
The strike: At one time, Cabela’s employed about 2,000 people in the 6,800-person town of Sidney. That number is already under 1,000 and will be falling in the wake of this week’s buyout offers.
(as reported in Tackle Trade Retailer)
I love hearing of anglers catches from around the world. Micha Kubassek who has been spending a lot of time in California sent us these images of rainbows he has been catching right in the Sacramento River.
California has an amazing stocking program both for salmon, steelhead and rainbow trout. In fact, many of their reservoirs are stocked annually with rainbows that provides anglers hours of excellent fishing. Most fishermen either cast small artificial lures like Vibrax spinners and ultralight crankbaits for them, or fish a sliding-sinker rig on the bottom with a corn kernel, small cheese ball or prepared trout bait.