Industry Updates

October 12, 2023

Survey Finds 92 Percent of Consumers Cut Spending This Year; Apparel Tops Cuts  
A recent CNBC-Morning Consult survey found that 92 percent of U.S. adults reduced their spending over the past six months, and the majority expect to remain frugal through the 2023 holiday shopping season. The CNBC survey of 4,403 U.S. adults fielded between Tuesday and Thursday of this week found the most common categories for spending reductions over the past six months were apparel (63 percent), restaurants and bars (62 percent) and entertainment outside the home (56 percent), a similar pattern CNBC saw in its June survey. The following most significant categories for cuts were groceries (54 percent), recreational travel and vacations (53 percent) and electronics (50 percent). | More Information 

Retail Crime Accounted for Over $112 Billion in Industry Losses in 2022, According to  NRF Report
As incidents of retail crime continue to escalate throughout the country, retailers have seen a dramatic jump in financial losses associated with theft. When taken as a percentage of total retail sales in 2022, shrink accounted for $112.1 billion in losses, up from $93.9 billion* in 2021, according to the 2023 National Retail Security Survey released by the National Retail Federation. | More Information

SHOT Show Climbs to No. 8 on List of Largest Trade Shows
NSSF’s SHOT Show® is now the eighth largest trade show in America, according to Trade Show Executive’s just-released Gold 100 rankings. The rankings were based on trade shows held throughout the United States in 2022 and measured by net square feet. Owned and operated by NSSF® — The Firearm Industry Trade Association — the SHOT Show is the annual trade show of the shooting, hunting, outdoor and law enforcement industries. After having to cancel its 2021 show due to the COVID-19 pandemic, the 2022 SHOT Show featured the event’s largest floorplan ever with 804,000 net square feet of exhibit space—up from 676,000 net square feet in 2020. | More Information

Industry News

September 29, 2023
August Retail Sales Growth Moderates; Sporting Goods Trends Down
The U.S. Census Bureau reported that overall U.S. retail sales in August were up 0.6 percent month-over-month from July and up 2.5 percent year-over-year versus the comparable month in 2022. The August year-over-year trend moderated from the 2.6 percent posted in the July year-over-year trend. The month-over-month trend accelerated compared to July, which had increased 0.5 percent month-over-month.The National Retail Federation (NRF) commented that the sales increase developed as parents shopped for school supplies and other goods even as inflation continued and interest rates remained high. | More Information 

NRF Now Sees 2023 Retail Sales at Low End of Earlier Forecast 
The economy continues to grow but not as fast as earlier in the year, according to National Retail Federation (NRF) Chief Economist Jack Kleinhenz. “The U.S. economy continues to expand, but recent data is signaling a slowdown in its momentum. The economy is slowing but not halting. “Progress has been made on combating inflation, but higher prices remain,” Kleinhenz continued. “While consumers are still spending, the composition of their spending continues to favor services over retail goods, and, even then, there was less momentum going into the third quarter.”

ATF Form 4473 Update - August 2023 Version
The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) has issued the following notice regarding recent changes to the ATF Form 4473. All federal firearms licensees (FFLs) are encouraged to begin using the Revised Form immediately. As you well know, due to statutory requirements set forth in both the NICS Denial Notification Act and the Bipartisan Safer Community Act (BSCA), the ATF Form 4473 was revised in December of 2022. Incorporating industry member suggestions made during the recent 60 and 30-day Notice and Comment periods, ATF has further revised the form and now that newest version (August 2023) has been approved by the Office of Management and Budget for implementation. | More Information 

Industry Updates

August 17, 2023
7 Ways Industry Members Can Get Involved in National Shooting Sports Month 
As Industry Leaders, join us this August for a nationwide celebration of the shooting sports – which showcases and reminds the public that shooting is a safe, fun activity enjoyed by millions of Americans. Help support the growth of the industry and your business at the same time! | More Information 

Vista Outdoor’s Sporting Products
Business To Be Rebranded as The Kinetic Group

Vista Outdoor, Inc. announced its new name and identity that will be effective following the planned spinoff of Vista Outdoor’s Outdoor Products business. Post-spin, Vista Outdoor will be rebranded as The Kinetic Group, a name “that surfaced among employees during the naming process and represents the energy behind the company and its leading ammunition brands,” Vista said in a statement. The Kinetic Group will trade on the New York Stock Exchange under the stock ticker “HUNT.” The brand will feature the original logo artwork of a North American ram. | More Information 

Industry Updates

July 27, 2023
Retail Sales Grew Again in June Despite Slower Job Gains
Retail sales continued to rise in June even as employment grew more slowly, the National Retail Federation said. “June retail sales confirm that while the economy may be cooling, consumers remain on solid footing and are spending on household priorities,” NRF President and CEO Matthew Shay said. “Back-to-class spending is one of the most important shopping occasions of the year, and NRF’s consumer research shows that back-to-school and college spending is expected to set new records. Consumers are looking for the best value and deals, and retailers are well stocked with essential items for families and students.” | More Information

Vista Outdoor Appoints CEO of Outdoor Products Segment
Vista Outdoor, Inc. hired Eric Nyman as CEO of the company’s Outdoor Products segment and appointed him as a board member, effective August 21. Most recently, Nyman was president and chief operating officer of Hasbro, Inc. Nyman’s hire comes as Vista plans to spin off its Outdoor Sports segment later this year, which includes Bell, Bushnell, Bushnell Golf, CamelBak, Camp Chef, Foresight Sports, Fox Racing, Giro, QuietKat, Simms Fishing, and Stone Glacier. | More Information 

Industry Updates

July 5, 2023
NRF Says Retail Sales Increased Again in May
Retail sales rose again in May as consumers continued to spend despite economic challenges, the National Retail Federation said. “Consumers continued to spend on household priorities in May, supported by gains in the job market and wages,” NRF President and CEO Matthew Shay said. “Retailers recognize the ongoing pressure on cost-sensitive consumers and are offering competitive pricing, a wide product mix and convenient shopping options to help stretch family budgets.” | More Information 

Spring U.S. Outdoor Sales Pressured By Footwear and Equipment Weakness
U.S. outdoor industry sales slid 1 percent in dollars (-4 percent in units) in the 12 months through April to total $28 billion, Julia Clark Day, Circana’s executive director of business development, Sports, said in a presentation she gave at the Outdoor Retailer Summer 2023 show. A modest gain in outdoor apparel did not offset declines in footwear and equipment. Among categories, footwear sales were down 5 percent in dollars in the 12 months through April to about $5 billion, while equipment was off 9 percent to about $5 billion in sales. Apparel, the largest category, was up 2 percent in dollars to $16 billion. Accessories, the smallest category, delivered the strongest gain, up 4 percent in dollars, to $1.4 billion. Apparel represented 58 percent of the U.S. outdoor industry’s sales during the 12 months through April; equipment, 19 percent; footwear, 18 percent; and accessories, 5 percent of sales. | More Information 

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