Yeti Recalls 1.9 Million Coolers and Cases for Magnet Hazard Yeti has recalled 1.9 million soft coolers and gear cases because of magnets that could detach and be ingested. The magnet-lined closures on Yeti’s Hopper M20, Hopper M30 1.0 and 2.0, and SideKick Dry products could fail and the magnets could dislodge, according to the U.S. Consumer Product Safety Commission (CPSC). Yeti issued a Stop Sale notice on these items in early February. See SGB Executive coverage on the recall HERE and the resulting economic impact of the massive recall HERE. | More Information
Report: U.S. Retail Sales Climb 6.9 Percent in February According to Mastercard SpendingPulse*, U.S. retail sales excluding automotive were up 6.9 percent year-over-year (YOY) in February. “Following a dynamic holiday season, consumer spending returned to a familiar and healthy balance in February,” said Steve Sadove, Mastercard senior advisor and former CEO of Saks, Inc. “Consumers have remained resilient, prioritizing discounts where possible to counteract inflationary pressures.” | More Information
ASA Report: Economic Contributions of Recreational Fishing The American Sportfishing Association (ASA) released its 2023 Economic Contributions of Recreational Fishing: U.S. Congressional Districts Report, an update to the data collected by the ASA in partnership with Southwick Associates, which noted angler participation and the economic impacts across all 50 states and the country’s 435 congressional districts. America’s 52.4 million anglers contribute $148 billion to the economy and support 945,500 jobs in the U.S. while contributing $1.8 billion towards conservation. While jobs supported include the manufacturing and selling of fishing equipment and gear, recreational fishing also supports jobs in other industries, including hotel lodging, restaurants, charter boat trips, and more. | More Information
'Pause' on Credit Card Tracking Code Welcomed but Firearm Industry Keeping Watchful Eye VISA, Mastercard and Discover – all announced they were “pausing” efforts to implement a newly-created Merchant Category Code (MCC) to track gun store purchases. NSSF worked diligently with lawmakers in several states and the federal government last year when the International Organization for Standardization (ISO) adopted a credit card tracking scheme proposed by antigun activists at Amalgamated Bank and The New York Times. The result is several states are on the verge of passing legislation that would block the use of firearm retailer-specific code and protect the privacy of customers of firearm retailers, including West Virginia, Florida and Mississippi. Congress is also looking at the issue. | More Information
Easter Spending Expected to Reach Record $24 Billion Consumers plan to spend a collective $24 billion on Easter this year, up from $20.8 billion in 2022 and the previous record high of $21.7 billion in 2020, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. Eighty-one percent of Americans will celebrate the holiday and spend an average of $192.01, the highest figure on record. | More Information
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