All Article articles – Page 13
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ArticleYeti bumps up FY income outlook after solid Q1
The outdoor product group maintained its full-year adjusted sales outlook of 7 to 9 percent growth. However, after reporting strong Q1 results, Yeti moved its adjusted operating income percentage target up slightly to 16.0 to 16.5 percent. Operating income rose by 71 percent to $25.8 million from $15.1 million ...
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ArticlePatagonia forging ahead with recyclable wetsuits
In 2014 Patagonia changed the material in its wetsuits from neoprene, a synthetic derived from petroleum, to a natural rubber produced by Yulex – at least for about 85 percent of each wetsuit. Six years later, it built what it calls the Wetsuit Forge, which combined its design and repair ...
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ArticleEmerging ‘proof points’ are positive news for Wolverine
In a self-proclaimed “transition year,” Wolverine Worldwide is beginning to witness ”proof points” that it hopes will signal an ongoing turnaround for the Saucony, Merrell and Sweaty Betty parent. These developments in Q1, where the company exceeded Wall Street’s revenue guidance, included higher gross margins, less promotion in the direct-to-consumer ...
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ArticleGoPro says turnaround will take more time as Q1 loss widens
GoPro’s Q1 revenues exceeded its guidance, but the operating loss increased for the period ended March 31. Founder and CEO Nicholas Woodman said the company is making progress on its multi-year strategy. Still, he urged investors to be patient as GoPro continues investing in a broader product line and retail ...
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ArticleDespite difficult times, Bike24 looks to a brighter future
Although 2024 got off to a challenging start in a persistently uncertain economic environment, Bike24 Holding AG, the German e-commerce retailer for cycling, running and swimming sports, expects a return to growth with improved profitability. “In the current macroeconomic environment, we have made a satisfactory start to 2024,” said Bike24 ...
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ArticleWolfbike effects a shift to distribution
Business has been brutal as of late for Wolfbike, according to CMDsport. The manufacturer of bicycles has been operating in Valencia, Spain, for 14 years and has in that time put together a catalogue of 180 models. Because of the cycling industry’s boom and bust since the lockdowns, however, the ...
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ArticleRVRC sets new three-year targets as Q3 results come in strong
Swedish DTC outdoor company Revolution Race (RVRC) disclosed new three-year financial targets ahead of reporting strong Q3 results. The group intends to achieve annual sales growth of 20 percent and an adjusted EBIT margin of 20 percent through FY26/27. In late January, RVCR said its FY23/24 revenue objective was at ...
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ArticleAcquisition of Marucci cushions decline in Fox Factory's SSG bike product sales
Suspension specialist Fox Factory Holding Corp. announced that the company met expectations with a 16.6 percent decline in sales in the first quarter (compared to Q1 2023) to $333.47 million (€309.91m): all three of Fox Factory’s divisions suffered sales declines. The total Q1 sales can be divided into: Powered ...
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Article2023: Vaude reduces global CO2 emissions by 30%
According to its 2023 CO2 emissions chart, Vaude has reduced its global greenhouse gas emissions by almost one-third compared to the reference year of 2019, while the company’s turnover increased significantly in the same period. Vaude thus shows that it is possible to decouple resource consumption from corporate growth and ...
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ArticleQuarterly loss widens at Clarus
Despite the wider operating loss and slightly lower overall sales, Clarus, the parent of Black Diamond, Pieps, Rhino-Rack, Maxtrax and Tred Outdoors, saw sales momentum in its Adventure segment and operational improvement within the Outdoor segment. The period ending March 31 marked the first phase of the group’s three-year strategic ...
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ArticleJohnson Outdoors suffers Q2 operating loss
Each of Johnson Outdoors’s four segments reported a double-digit sales decline for the period ended March 29, and two, Watercraft Recreation and Diving, had a quarterly operating loss. The group’s aggregate Q2 operating loss was $253,000 against a profit of nearly $11.4 million in the year-ago period. Ebit slipped by ...
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ArticleIGOT awards funding to youth projects in eight countries
Grassroots projects from eight different countries have been awarded funding that will help get young people active in the outdoors. The It’s Great Out There Coalition (IGOT) has revealed details of the recipients of the latest #itsgreatoutthere grants, providing €32,000 of support to initiatives in Montenegro, France, Slovenia, the United ...
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ArticleRevelyst sells ammunition brand
Revelyst, a Vista Outdoor Inc. company, has announced the sale of RCBS, the company’s reloading brand based in Oroville, California, to Hodgdon Powder Co. Inc, a Shawnee, Kansas-based supplier of smokeless propellants and black powder substitutes. RCBS is a leading manufacturer of ammunition reloading devices for hunters, competitive shooters and ...
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ArticleREI posts $3.76 billion in revenue in 2023, but loses $311 million net
US specialty outdoor retailer REI Co-op released its impact report and financial results for 2023 on April 30. The year closed with $3.76 billion in net sales and nearly $270 million invested back into the co-op community. Net sales were down 2.4 percent from 2022, and the co-op reported a ...
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ArticleHyosung develops certified sugar cane-based spandex with biotech partner
South Korea’s Hyosung TNC, the world’s largest manufacturer of spandex, has partnered with San Diego-based biotechnology company Geno to to begin construction of facilities to produce Bio BDO at its plant in Vietnam. The plant is expected to be operational in the second quarter of 2026. The project is a ...
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ArticleNew Patagonia documentary explores the era of cheap clothes trash
Patagonia recently released its new film, “The Shitthropocene.” The 45-minute documentary is a humorous, thought-provoking anthropological observation of people’s consumer habits. The film takes a satirical yet brutally honest look at how everything in the clothing industry has turned to “shit” over time and why the urge to buy more ...
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ArticleLa Sportiva opens first US retail store in Colorado
Italian mountain sports brand La Sportiva celebrated its first retail store in the US with a Grand Opening event in Boulder, Colorado, on April 18-19. The new location at 2100 Broadway has been open to the public since Jan. 2, 2024. The Grand Opening helped underscore the brand’s commitment to ...
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ArticleOICompass supports POW initiative: Promoting a sustainable future in EU elections
Discover how POW Europe is mobilizing the outdoor industry to promote sustainable policies in the upcoming EU elections.
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ArticleGarmin gains on positive results from fitness and automotive segments
Swiss navigation and fitness device manufacturer Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin ...
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ArticleCoDi's aggregate Q1 sales nearly unchanged despite net loss
The net loss from continuing operations in Compass Diversified’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, PrimaLoft, and Velocity Outdoor) was $10.5 million against a profit of $1.79 million for the three months ended March 31. Aggregate sales for the four businesses were essentially ...
