American Outdoor Brands Corporation Reports Fourth Quarter and Full Year Fiscal 2018 Financial Results

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American Outdoor Brands Corporation Reports Fourth Quarter and Full Year Fiscal 2018 Financial Results

PR Newswire

SPRINGFIELD, Mass., June 20, 2018 /PRNewswire/ — American Outdoor Brands Corporation (NASDAQ Global Select: AOBC), one of the world’s leading providers of firearms and quality products for the shooting, hunting, and rugged outdoor enthusiast, today announced financial results for the fourth quarter and full year fiscal 2018, ended April 30, 2018.

American Outdoor Brands Corporation logo unveiled December 13, 2016.

Please note: As of the time of this press release, the SEC EDGAR system is currently unavailable. We will post our Form 10-K on our company website at www.aob.com, under the Investor Relations tab.


Fourth Quarter Fiscal 2018 Financial Highlights

  • Quarterly net sales were $172.0 million compared with $229.2 million for the fourth quarter last year, a decrease of 24.9%.
  • Gross margin for the quarter was 33.4% compared with 39.6% for the fourth quarter last year. 
  • Quarterly GAAP net income was $7.7 million, or $0.14 per diluted share, compared with $27.7 million, or $0.50 per diluted share, for the comparable quarter last year.
  • Quarterly non-GAAP net income was $13.3 million, or $0.24 per diluted share, compared with $31.8 million, or $0.57 per diluted share, for the comparable quarter last year. GAAP to non-GAAP adjustments to net income exclude a number of acquisition-related costs, certain product recall related costs, and other costs. For a detailed reconciliation, see the schedules that follow in this release.
  • Quarterly non-GAAP Adjusted EBITDAS was $33.4 million, or 19.4% of net sales, compared with $60.5 million, or 26.4% of net sales, for the comparable quarter last year.


Full Year Fiscal 2018 Financial Highlights

  • Full year net sales were $606.9 million compared with $903.2 million a year ago, a decrease of 32.8%.
  • Full year gross margin was 32.3% compared with 41.5% last year. 
  • Full year GAAP net income was $20.1 million, or $0.37 per diluted share, compared with $127.9 million, or $2.25 per diluted share, last year.
  • Full year non-GAAP net income was $25.1 million, or $0.46 per diluted share, compared with $146.5 million, or $2.58 per diluted share last year.
  • Full year non-GAAP Adjusted EBITDAS was $89.5 million, or 14.7% of net sales, compared with $266.3 million, or 29.5% of net sales, last year.

James Debney, American Outdoor Brands Corporation President and Chief Executive Officer, commented, “Fiscal 2018 was a year characterized by lower consumer demand for firearms, heightened levels of inventory in the consumer channel, and a host of aggressive, industry-wide promotions. Despite those challenges, we achieved a number of accomplishments in the year that marked important progress toward our long-term strategy of being the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast.”

“In our Firearms segment, we added several exciting products to our next generation M&P 2.0 polymer pistol platform, which we launched in the prior fiscal year.  In fact, new products – which we define as products launched within the last twelve months — accounted for 29% of our firearms revenue in fiscal 2018, and strong adoption rates across our growing M&P family helped us retain our leadership position in the consumer market for handguns.  During the year we also made significant progress on market penetration with our T/C Compass bolt action hunting rifle. Finally, we  expanded our firearms segment inorganically with the acquisition of Gemtech, a provider of high quality suppressors and accessories for the consumer, law enforcement, and military markets, providing us access to new technology for use in our future new product development processes.” 

“Our Outdoor Products & Accessories segment generated 26% of our total revenue in fiscal 2018 compared to just 14% in fiscal 2017. Our Outdoor Products and Accessories Division launched nearly 150 new products across categories including: shooting, cutlery, tools, and survival products.  Our Electro-Optics Division, Crimson Trace, also launched several new products in fiscal 2018, and entered the large and diverse flashlight category.  We were very pleased with the organic growth we achieved in the Outdoor Products & Accessories segment, given that it was a challenging year for the outdoor retail industry overall.  In addition, our new product launches – namely handheld flashlights in our Outdoor Products and Accessories Division and firearm-mounted lights from our Electro-Optics Division — demonstrate that we have the ability to enter new markets organically with multiple brands.  In fiscal 2018, we supplemented organic growth with revenue from acquisitions, including the acquisition of the popular Bubba Blade fishing tool brand.  Both of our acquisitions in fiscal 2018 helped us expand into new markets that resonate with our core firearms consumers, many of whom also have a passion for the rugged outdoors,” Debney concluded.

Jeff Buchanan, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer, commented, “The strength of our balance sheet in fiscal 2018 supported a number of initiatives throughout the year, including two acquisitions designed to facilitate our strategic growth, and the refinancing of our Senior Notes at their existing interest rate with an extended maturity. During the year, we had a peak balance of $125 million outstanding on our revolving line of credit, which we have since repaid in full, leaving available to us the entire capacity, which is expandable up to $500 million.   We had strong free cash flow in our fourth quarter of $61.2 million, and ended the year with net debt of $138.8 million. In fiscal 2019, we expect to continue employing the strength of our balance sheet to fuel additional growth opportunities, both organic and inorganic.”


Financial Outlook


AMERICAN OUTDOOR BRANDS CORPORATION


NET SALES AND EARNINGS PER SHARE GUIDANCE, INCLUDING GAAP TO NON-GAAP RECONCILIATION
(Unaudited)


Range for the Three Months Ending July 31, 2018


Range for the Year Ending April 30, 2019

Net sales (in thousands)

$ 130,000

$ 140,000

$ 570,000

$ 600,000

GAAP income per share – diluted

$        0.03

$        0.07

$        0.12

$        0.22

Amortization of acquired intangible assets

0.10

0.10

0.39

0.39

Inventory step-up expense

0.01

0.01

Tax effect of non-GAAP adjustments

(0.03)

(0.03)

(0.12)

(0.12)

Non-GAAP income per share – diluted

$        0.10

$        0.14

$        0.40

$        0.50

Conference Call and Webcast
The company will host a conference call and webcast today, June 20, 2018, to discuss its fourth quarter and full year fiscal 2018 financial and operational results. Speakers on the conference call will include James Debney, President and Chief Executive Officer, and Jeffrey D. Buchanan, Executive Vice President, Chief Financial Officer, and Chief Administrative Officer. The conference call may include forward-looking statements. The conference call and webcast will begin at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). Those interested in listening to the conference call via telephone may call directly at (844) 309-6568 and reference conference identification number 5995055.  No RSVP is necessary.  The conference call audio webcast can also be accessed live and for replay on the company’s website at www.aob.com, under the Investor Relations section. The company will maintain an audio replay of this conference call on its website for a period of time after the call. No other audio replay will be available.

Reconciliation of U.S. GAAP to Non-GAAP Financial Measures
In this press release, certain non-GAAP financial measures, including “non-GAAP net income,” “Adjusted EBITDAS,” and “free cash flow” are presented. From time-to-time, the company considers and uses these supplemental measures of operating performance in order to provide the reader with an improved understanding of underlying performance trends.  The company believes it is useful for itself and the reader to review, as applicable, both (1) GAAP measures that include (i) amortization of acquired intangible assets, (ii) transition costs, (iii) acquisition-related costs, (iv) fair value inventory step-up and backlog expense, (v) corporate rebranding expenses, (vi) debt extinguishment costs, (vii) recall related expenses, (vii) the tax effect of non-GAAP adjustments, (ix) net cash provided by operating activities, (x) net cash used in investing activities, (xi) acquisition of businesses, net of cash acquired, (xii) receipts from note receivable, (xiii) interest expense (xiv) income tax expense, (xv) depreciation and amortization, (xvi) stock-based compensation expenses, (xvii) discontinued operations, (xviii) changes in contingent consideration, and (xix) Tax Reform; and (2) the non-GAAP measures that exclude such information. The company presents these non-GAAP measures because it considers them an important supplemental measure of its performance. The company’s definition of these adjusted financial measures may differ from similarly named measures used by others. The company believes these measures facilitate operating performance comparisons from period to period by eliminating potential differences caused by the existence and timing of certain expense items that would not otherwise be apparent on a GAAP basis.  These non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or as a substitute for the company’s GAAP measures.  The principal limitations of these measures are that they do not reflect the company’s actual expenses and may thus have the effect of inflating its financial measures on a GAAP basis.

About American Outdoor Brands Corporation
American Outdoor Brands Corporation (NASDAQ Global Select: AOBC) is a provider of quality products for shooting, hunting, and rugged outdoor enthusiasts in the global consumer and professional markets. The Company reports two segments: Firearms and Outdoor Products & Accessories. Firearms manufactures handgun long gun, and suppressor products sold under the Smith & Wesson®, M&P®, Thompson/Center Arms™, and Gemtech® brands as well as provides forging, machining, and precision plastic injection molding services. Outdoor Products & Accessories provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, and gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, tactical lighting products, and survival and camping equipment. Brands in Outdoor Products & Accessories include Smith & Wesson®, M&P®, Thompson/Center Arms™, Crimson Trace®, Caldwell® Shooting Supplies, Wheeler® Engineering, Tipton® Gun Cleaning Supplies, Frankford Arsenal® Reloading Tools, Lockdown® Vault Accessories, Hooyman® Premium Tree Saws, BOG POD®, Golden Rod® Moisture Control, Schrade®, Old Timer®, Uncle Henry®, Imperial®, Bubba Blade®, and UST®.  For more information on American Outdoor Brands Corporation, call (844) 363-5386 or log on to www.aob.com.

Safe Harbor Statement
Certain statements contained in this press release may be deemed to be forward-looking statements under federal securities laws, and we intend that such forward-looking statements be subject to the safe-harbor created thereby.  Such forward-looking statements include, among others, our long-term strategy of being the leading provider of quality products for the shooting, hunting, and rugged outdoor enthusiast market; our belief that the launch of new additions to our M&P branded polymer pistol family helped us retain our leadership position in the consumetr market for handguns; our belief that the acquisition of Gemtech provided us access to new technology for use in future new product development processes; our belief that our strong balance sheet will provide us the opportunity in fiscal 2019 for additional growth opportunities, both organic and inorganic; and our expectations for net sales, GAAP income per diluted share, acquisition-related costs, amortization of acquired intangible assets, fair value inventory step-up and backlog expense, tax effect of non-GAAP adjustments, and non-GAAP income per diluted share for the first quarter of fiscal 2019 and for fiscal 2019.  We caution that these statements are qualified by important risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements.  Such factors include, among others, economic, social, political, legislative, and regulatory factors; the potential for increased regulation of firearms and firearm-related products; actions of social activists that could have an adverse effect on our business; the impact of lawsuits; the demand for our products; the state of the U.S. economy in general and the firearm industry in particular; general economic conditions and consumer spending patterns; our competitive environment; the supply, availability and costs of raw materials and components; speculation surrounding fears of terrorism and crime; our anticipated growth and growth opportunities; our ability to increase demand for our products in various markets, including consumer, law enforcement, and military channels, domestically and internationally; our penetration rates in new and existing markets; our strategies; our ability to maintain and enhance brand recognition and reputation; risks associated with the establishment of our new 630,000 square foot national distribution center; our ability to introduce new products; the success of new products; our ability to expand our markets; our ability to integrate acquired businesses in a successful manner; the general growth of our outdoor products and accessories business; the potential for cancellation of orders from our backlog; and other risks detailed from time to time in our reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 30, 2018.

Contact:Liz Sharp, VP Investor Relations
American Outdoor Brands Corporation
(413) 747-6284
lsharp@aob.com   

 


AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


CONSOLIDATED BALANCE SHEETS


As of:


April 30, 2018


April 30, 2017

(In thousands, except par value and share data)


 ASSETS

 Current assets:

Cash and cash equivalents

$     48,860

$     61,549

Accounts receivable, net of allowance for doubtful accounts of $1,824 on April 30, 2018 and $598 on April 30, 2017

56,676

108,444

Inventories

153,353

131,682

Prepaid expenses and other current assets

6,893

6,123

Income tax receivable 

4,582

10,643

Total current assets

270,364

318,441

 Property, plant, and equipment, net

159,125

149,685

 Intangibles, net

112,760

141,317

 Goodwill

191,287

169,017

 Other assets

11,524

9,576

$   745,060

$   788,036


 LIABILITIES AND STOCKHOLDERS’ EQUITY

 Current liabilities:

Accounts payable

$     33,617

$     53,447

Accrued expenses

41,632

51,686

Accrued payroll and incentives

10,514

21,174

Accrued income taxes

513

726

Accrued profit sharing

1,283

13,004

Accrued warranty

6,823

4,908

Current portion of notes and loans payable

6,300

6,300

Total current liabilities

100,682

151,245

 Deferred income taxes 

12,895

25,620

 Notes and loans payable, net of current portion

180,304

210,657

 Other non-current liabilities

29,031

7,352

Total liabilities

322,912

394,874

 Commitments and contingencies 

 Stockholders’ equity:

Preferred stock, $.001 par value, 20,000,000 shares authorized, no shares issued or outstanding

Common stock, $.001 par value, 100,000,000 shares authorized, 72,433,705 shares issued and 54,266,843 shares outstanding on April 30, 2018 and 72,017,288 shares issued and 53,850,426 shares outstanding on April 30, 2017

72

72

Additional paid-in capital 

253,616

245,865

Retained earnings

389,146

369,164

Accumulated other comprehensive income

1,689

436

Treasury stock, at cost (18,166,862 shares on April 30, 2018 and April 30, 2017)

(222,375)

(222,375)

Total stockholders’ equity

422,148

393,162

$   745,060

$   788,036

 


AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


 CONSOLIDATED STATEMENTS OF INCOME


For the Three Months Ended


For the Years Ended


April 30, 2018 (Unaudited)


April 30, 2017 (Unaudited)


April 30, 2018


April 30, 2017

(In thousands, except per share data)

Net sales

$   172,026

$   229,186

$   606,850

$   903,188

Cost of sales

114,622

138,400

411,098

527,916

Gross profit

57,404

90,786

195,752

375,272

Operating expenses:

Research and development

2,682

2,623

11,361

10,238

Selling and marketing

12,595

12,565

55,805

49,338

General and administrative

25,712

30,545

101,538

115,757

Total operating expenses

40,989

45,733

168,704

175,333

Operating income

16,415

45,053

27,048

199,939

Other (expense)/income, net:

Other (expense)/income, net 

355

(14)

1,737

(52)

Interest expense, net

(2,815)

(2,455)

(11,168)

(8,581)

Total other (expense)/income, net

(2,460)

(2,469)

(9,431)

(8,633)

Income from operations before income taxes

13,955

42,584

17,617

191,306

Income tax (benefit)/expense

6,291

14,890

(2,511)

63,452

Net income

7,664

27,694

20,128

127,854

Net income per share:

Basic

$          0.14

$          0.50

$          0.37

$          2.29

Diluted

$          0.14

$          0.50

$          0.37

$          2.25

Weighted average number of common shares outstanding:

Basic

54,174

55,070

54,061

55,930

Diluted

54,658

55,851

54,834

56,891

 


AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF CASH FLOWS


For the Years Ended


April 30, 2018


April 30, 2017

(In thousands)

Cash flows from operating activities:

Net income

$        20,128

$      127,854

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 

52,075

50,213

Loss on sale/disposition of assets

44

99

Provision for losses on accounts receivable

991

1,546

Impairment of long-lived tangible assets

282

Deferred income taxes

(8,775)

(7,840)

Change in fair value of contingent consideration

(1,640)

Stock-based compensation expense

7,815

8,590

Changes in operating assets and liabilities (net effect of acquisitions):

Accounts receivable

51,380

(40,709)

Inventories

(16,971)

(22,171)

Prepaid expenses and other current assets

514

(1,619)

Income taxes

5,848

(13,745)

Accounts payable

(20,998)

1,233

Accrued payroll and incentives

(10,754)

988

Accrued profit sharing

(11,721)

1,545

Accrued expenses

(8,424)

21,238

Accrued warranty

1,915

(1,415)

Other assets

(417)

1,029

Other non-current liabilities

351

(3,260)

Net cash provided by operating activities

61,643

123,576

Cash flows from investing activities:

Acquisition of businesses, net of cash acquired

(23,120)

(211,069)

Refunds on machinery and equipment

2,776

Receipts from note receivable

65

Payments to acquire patents and software

(560)

(638)

Proceeds from sale of property and equipment

6

Payments to acquire property and equipment

(18,490)

(34,876)

Net cash used in investing activities

(42,164)

(243,742)

Cash flows from financing activities:

Proceeds from loans and notes payable

150,000

100,000

Cash paid for debt issuance costs

(158)

(525)

Payments on capital lease obligation

(646)

(558)

Payments on notes and loans payable

(181,300)

(56,300)

Proceeds from Economic Development Incentive Program

101

Payments to acquire treasury stock

(50,052)

Proceeds from exercise of options to acquire common stock, including employee stock purchase plan

2,213

2,442

Payment of employee withholding tax related to restricted stock units

(2,277)

(4,672)

Net cash used in financing activities

(32,168)

(9,564)

Net decrease in cash and cash equivalents

(12,689)

(129,730)

Cash and cash equivalents, beginning of period

61,549

191,279

Cash and cash equivalents, end of period

$        48,860

$        61,549

Supplemental disclosure of cash flow information

Cash paid for:

Interest

$        10,624

$          7,650

Income taxes

1,387

85,216

 


RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES
(Dollars in thousands, except per share data)
(Unaudited)


For the Three Months Ended 


For the Years Ended


April 30, 2018


April 30, 2017


April 30, 2018


April 30, 2017


$


% of Sales


$


% of Sales


$


% of Sales


$


% of Sales

GAAP gross profit

$ 57,404

33.4%

$ 90,786

39.6%

$ 195,752

32.3%

$ 375,272

41.5%

Diode recall

1,666

1.0%

1,666

0.3%

Fair value inventory step-up and backlog expense

272

0.2%

100

0.0%

500

0.1%

4,701

0.5%

Non-GAAP gross profit

$ 59,342

34.5%

$ 90,886

39.7%

$ 197,918

32.6%

$ 379,973

42.1%

GAAP operating expenses

$ 40,989

23.8%

$ 45,733

20.0%

$ 168,704

27.8%

$ 175,333

19.4%

Amortization of acquired intangible assets

(5,548)

-3.2%

(5,704)

-2.5%

(20,812)

-3.4%

(18,434)

-2.0%

Transition costs

2

0.0%

(318)

-0.1%

(439)

-0.1%

(381)

0.0%

Discontinued operations

(18)

0.0%

(86)

0.0%

Corporate rebranding expenses

(13)

0.0%

(538)

-0.1%

Acquisition-related costs

(14)

0.0%

(59)

0.0%

(769)

-0.1%

(3,844)

-0.4%

Non-GAAP operating expenses

$ 35,429

20.6%

$ 39,621

17.3%

$ 146,684

24.2%

$ 152,050

16.8%

GAAP operating income

$ 16,415

9.5%

$ 45,053

19.7%

$   27,048

4.5%

$ 199,939

22.1%

Fair value inventory step-up and backlog expense

272

0.2%

100

0.0%

500

0.1%

4,701

0.5%

Diode recall

1,666

1.0%

1,666

Amortization of acquired intangible assets

5,548

3.2%

5,704

2.5%

20,812

3.4%

18,434

2.0%

Transition costs

(2)

0.0%

318

0.1%

439

0.1%

381

0.0%

Discontinued operations

18

0.0%

86

0.0%

Corporate rebranding expenses

13

0.0%

538

0.1%

Acquisition-related costs

14

0.0%

59

0.0%

769

0.1%

3,844

0.4%

Non-GAAP operating income

$ 23,913

13.9%

$ 51,265

22.4%

$   51,234

8.4%

$ 227,923

25.2%

GAAP net income

$   7,664

4.5%

$ 27,694

12.1%

$   20,128

3.3%

$ 127,854

14.2%

Fair value inventory step-up and backlog expense

272

0.2%

100

0.0%

500

0.1%

4,701

0.5%

Amortization of acquired intangible assets

5,548

3.2%

5,704

2.5%

20,812

3.4%

18,434

2.0%

Debt extinguishment costs

226

0.1%

226

Diode recall

1,666

1.0%

1,666

0.3%

Transition costs

(2)

0.0%

318

0.1%

439

0.1%

381

0.0%

Discontinued operations

18

0.0%

86

0.0%

Corporate rebranding expenses

13

0.0%

538

0.1%

Acquisition-related costs

14

0.0%

59

0.0%

769

0.1%

3,844

0.4%

Change in contingent consideration

(340)

-0.2%

(1,640)

-0.3%

Tax Reform

663

0.4%

(8,746)

-1.4%

Tax effect of non-GAAP adjustments

(2,459)

-1.4%

(2,062)

-0.9%

(9,057)

-1.5%

(9,291)

-1.0%

Non-GAAP net income

$ 13,252

7.7%

$ 31,844

13.9%

$   25,097

4.1%

$ 146,547

16.2%

GAAP net income per share – diluted

$      0.14

$      0.50

$        0.37

$        2.25

Fair value inventory step-up and backlog expense

0.01

0.08

Amortization of acquired intangible assets

0.10

0.10

0.38

0.32

Debt extinguishment costs

Diode recall

0.03

0.03

Transition costs

0.01

0.01

0.01

Discontinued operations

Corporate rebranding expenses

0.01

Acquisition-related costs

0.01

0.07

Change in contingent consideration

(0.01)

(0.03)

Tax Reform

0.01

(0.16)

Tax effect of non-GAAP adjustments

(0.04)

(0.04)

(0.17)

(0.16)

Non-GAAP net income per share – diluted

$      0.24

 (a) 

$      0.57

$        0.46

 (a) 

$        2.58

(a) Non-GAAP net income per share does not foot due to rounding. 

 


AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


RECONCILIATION OF NET OPERATING CASH FLOW TO FREE CASH FLOW
(In thousands)
(Unaudited)


For the Three Months Ended


For the  Years Ended


April 30, 2018


April 30, 2017


April 30, 2018


April 30, 2017

Net cash provided by operating activities

$     65,865

$     14,052

$     61,643

$   123,576

Net cash used in investing activities

(4,710)

(6,040)

(42,164)

(243,742)

Acquisition of businesses, net of cash acquired

23,120

211,069

Receipts from note receivable

(7)

(65)

Free cash flow

$     61,155

$        8,005

$     42,599

$     90,838

 


AMERICAN OUTDOOR BRANDS CORPORATION AND SUBSIDIARIES


RECONCILIATION OF GAAP NET INCOME TO NON-GAAP ADJUSTED EBITDAS


(in thousands)


(Unaudited)


For the Three Months Ended


For the Years Ended


April 30, 2018


April 30, 2017


April 30, 2018


April 30, 2017

GAAP net income

$             7,664

$          27,694

$       20,128

$       127,854

Interest expense

2,638

2,502

11,092

8,722

Income tax (benefit)/expense

6,291

14,890

(2,511)

63,452

Depreciation and amortization

12,922

12,680

50,970

48,142

Stock-based compensation expense

2,054

2,208

7,816

8,590

Diode Recall

1,666

1,666

Fair value inventory step-up and backlog expense

272

100

500

4,701

Debt extinguishment costs

226

226

Acquisition-related costs

14

59

769

3,844

Transition costs

(2)

318

439

381

Corporate rebranding expenses

13

538

Discontinued operations

18

86

Change in contingent consideration

(340)

(1,640)

Non-GAAP Adjusted EBITDAS

$          33,405

$          60,482

$       89,455

$       266,310

 

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/american-outdoor-brands-corporation-reports-fourth-quarter-and-full-year-fiscal-2018-financial-results-300669608.html

SOURCE American Outdoor Brands Corporation

$25,000 is Only a Moment Away as el Jimador Launches Nationwide Campaign for Soccer Fans

LOUISVILLE, Ky., June 20, 2018 (GLOBE NEWSWIRE) — El Jimador (www.eljimador.com) is thrilled to announce a partnership with Mexican National Team (MXNT) legend Luis Hernandez, known by his nickname “El Matador,” to introduce a fun and unique way to celebrate and share soccer moments during this summer.

Hernandez kicks off the campaign by telling the story of his favorite soccer moment via a compelling cel animation video created by el Jimador’s ad agency, Scoppechio (www.scoppechio.com), and animation production company, Giant Ant (www.giantant.ca). In the video, Hernandez claims that his brother was a better player than he was, which is a bold statement given Hernandez’s incredible MXNT career. Ultimately, Hernandez talks about the role soccer played in their lives growing up and how they even faced off in a league championship.

“Soccer is a global celebration,” said Hernandez. “It unites us. We all have good memories and I’m excited to share one of mine through this partnership with el Jimador. Hopefully this will encourage many others to celebrate with us and share great moments.”

As part of the campaign, el Jimador is encouraging fans to share their own moments for a chance to win unforgettable prizes, including $25,000, custom jerseys, and more. The jersey designs are being created in collaboration with illustrator Mike Perry, known for his vibrant work and unique style as seen on the TV program, “Broad City.”
  
“We are very excited to celebrate and share our passion for soccer with consumers in an easy and engaging way,” mentioned Ed Carias, Senior Brand Manager of el Jimador in the US.

The brand is also partnering with a leading tech company called Thinfilm to allow consumers to interact with el Jimador’s POS via their smartphones. They’ll be able to engage with the campaign by simply “tapping” their phones on display materials and directly on the bottles. “This year, entering for a chance to win $25,000 is as easy as tapping your phone on our smart POS,” Carias explained.

The contest platform was soft-launched to the public on June 1, 2018, alongside the Hernandez animation. All videos will be available on el Jimador’s social platforms and at eljimador.com/soccer where consumers can learn more about this exciting campaign.1

_______________________________
1
No purchase necessary.  Must be at least 21 years of age.  Void where prohibited or restricted.  To enter and for official rules, go to eljimador.com/soccer.

About el Jimador
From Casa Herradura, established in 1870, el Jimador is a premium 100% blue agave tequila. The name el Jimador honors the men who harvest the locally grown agave with great pride and care. To learn more about el Jimador, visit www.eljimador.com.

el Jimador is a product of the Brown-Forman Corporation, a premier producer and marketer of fine quality beverage alcohol brands including Jack Daniel’s, Finlandia Vodka, Korbel California Champagne, Old Forester, Chambord, Tequila Herradura and Sonoma-Cutrer. For more information about Brown-Forman and our brands, visit our website at www.brown-forman.com.  Please enjoy our brands responsibly.

Enjoy 100% Responsibly.

Tequila el Jimador, 40% Alc. by Vol., Imported by Brown-Forman, Louisville, KY ©2018. 

A video accompanying this announcement is available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/040bf80f-88ba-413d-a508-004af6f10e2a

FOR INFORMATION CONTACT:
Mariana Esquinca
(502) 774-4354
mariana_esquinca@b-f.com

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Consumer Goods Technology Names Gulin-Merle “CMO of the Year”

NEWARK, N.J. (PRWEB) June 20, 2018

Consumer Goods Technology presented its fifth-annual "CMO of the Year" award to Marie Gulin-Merle, Chief Marketing Officer of Calvin Klein, during a special ceremony at the 2018 Consumer Goods Sales & Marketing Summit in New York City on June 19.

This one of-a-kind award is presented to a CMO who has made a demonstrable impact on his/her consumer goods organization through the implementation and successful use of new marketing strategies, technologies and/or processes.

"Marie's efforts helping L'Oréal become a digitally savvy, consumer-focused marketing organization provide a blueprint for the change that's needed in the consumer goods industry," said CGT editor-in-chief Peter Breen. "Apparently, Calvin Klein saw the same thing we did."

Gulin-Merle served as chief marketing officer for L’Oréal USA 2014 until earlier this spring. During her time at L'Oréal, she transformed the company’s marketing functions and reinforced its industry leadership, particularly in the areas of digital innovation, consumer and market intelligence, media investment and data-driven marketing. She ushered in a number of firsts for L'Oréal: first digital up-skilling curriculum for marketers, first data capabilities, first in-house content studio, and first-to-market partnerships with a number of major platforms and publishers.

Before taking on the CMO role, she worked in steadily rising positions within L'Oréal, including global head of integrated marketing communications at corporate headquarters in Paris from 2010 to 2014. There, she reinvented many brand programs across 60 countries and eight regions, and also launched the award-winning Makeup Genius app.

Initial nominations for "CMO of the Year" were fielded in early 2018 by CGT and submitted by various members of the consumer goods community. The magazine's editors narrowed the nominations down to five deserving individuals who were presented to our esteemed Editorial and Research Advisory Boards for voting. Also recognized as finalists were Lee Applbaum of Patron Spirits International, Antonio Lucio of HP Inc., Scott Parker of Atkins Nutritionals, and Justin Woolverton of Halo Top Creamery.

About Consumer Goods Technology

Consumer Goods Technology, an integrated media brand, is the leading resource for consumer goods executives using technology to enable business success. Delivering content through print, online and events, CGT reaches an audience of more than 76,000 executives ranging from managers and directors to VPs and C-suite leaders across all major segments of the consumer goods sector, including packaged goods, consumer electronics, home appliances, and fashion. For more information, visit http://www.consumergoods.com.

Read the full story at https://www.prweb.com/releases/2018/06/prweb15576456.htm