Business
American Outdoor Brands Expands Lease Agreement, Schedules Quarterly Financial Release and Conference Call
COLUMBIA, Mo., Feb. 1, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) ("AOB" or the "Company"), an industry leading provider
About this update from Smith & Wesson Brands, Inc.
[{"type":"text","content":"COLUMBIA, Mo., Feb. 1, 2023 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT) (\"AOB\" or the \"Company\"), an industry leading provider of products and accessories for rugged outdoor enthusiasts, today announced it will expand the lease at its Columbia, Missouri headquarters and distribution center, effective as of January 1, 2024. The Company also announced that it plans to release its third quarter fiscal 2023 financial results on Thursday, March 9, 2023, after the close of the market. The full text of the press release will be available on the Company's website at www.aob.com under the Investor Relations section.\n\n \n \n \n \n \n \n\n \nAOB currently leases approximately 361,000 square feet, or 57% of the Columbia, Missouri headquarters and distribution facility. The agreement, which commences as of January 1, 2024, and ends November 26, 2038, will make AOB the sole tenant, providing the Company full occupancy and use of the building's approximate 632,000 square feet of warehouse and office space and allowing for potential future building expansion. The Company believes that the incremental annual lease expense, net of tax and other incentives, will be approximately $1.3 million, which will be entirely offset by savings from recent facility consolidations and efficiencies gained in its distribution processes.\nBrian Murphy, President and CEO of American Outdoor Brands, said, \"Our ability to expand the existing lease and gain access to the entire Columbia facility provides us with a potential opportunity to enhance our operational efficiencies in the near-term by fine-tuning our floorplan and work processes to optimize the consolidations of acquisitions from Oregon, Texas, and Michigan that we have completed over the past six months. At the same time, it should position us well for the future by providing us with capacity to grow, a benefit that aligns well with our long-term plans, which include organic growth and strategic acquisitions.\"\nConference Call and WebcastThe Company will host a conference call and webcast on Thursday, March 9, 2023, to discuss its third quarter fiscal 2023 financial and operational results. Speakers on the conference call will include Brian Murphy, President and Chief Executive Officer, and Andy Fulmer, Chief Financial Officer. The conference call may include forward-...