All articles by Bob McGee – Page 2
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ArticleSlimmed down Clarus focused on outdoor, adventure
Having completed the divestiture of its former Precision Sport business on Feb. 29, Clarus Corp., the parent of Black Diamond, Rhino-Rack, Maxtrax and Tred Outdoors, says it has taken important steps to realign its brands and inventory levels and position its business for “long-term profitable growth as a pure-play, ...
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ArticleSnow Peak’s lofty FY24 goals will be chased as private company
Snow Peak, the upscale Japanese camping business, which went public a decade ago, will reportedly go private through a management-led buyout with Bain Capital as a partner in a deal valued at approximately ¥50 billion (€310m). The pending transaction was first reported several weeks ago by multiple outlets, including Mergermarket ...
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ArticleRapala VMC eyes operating profit return in FY24
After a challenging FY23, where sales fell by double-digits in all its key geographic markets, Rapala VMC intends to return a full-year comparable operating profit this year, helped by retail inventory levels that are finally returning to normal levels. Other factors projected to bolster results for the Finnish outdoor group ...
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ArticleArc’teryx helps Amer Sports grow sales in first quarter as public company
Thirty-four days after raising $1.365 billion in an NYSE IPO, Amer Sports conducted its first earnings call as a public company yesterday. While the Arc’teryx, Salomon and Peak Performance parent delivered Q4 revenues some $20 million above expectations, the quarterly loss was wider than expected. Amre’s shares finished the trading ...
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ArticleCoDi believes inventory will become tailwind in 2024
After a difficult 2023, where inventory destocking negatively impacted results at its four outdoor-related businesses, Compass Diversified (CoDi) is banking on a “much higher level of growth” for many of its consumer businesses this year. Additionally, the group, which has eyes on more companies and brands in its portfolio, says ...
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ArticleWolverine progresses with turnaround, but faces further setbacks
Six months on the job, Wolverine Wordwide President and CEO Chris Hufnagel had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time to complete ...
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ArticleGarmin reports strong Q4 results, guides to 10 percent revenue growth in FY24
Fueled by double-digit gains in both net sales and operating income, Garmin reported strong Q4 results and offered guidance on FY24, where it sees total sales improving by 10 percent to $5.75 billion but overall gross margin contracting by 100 basis points to 56.5 percent. In Q4 ended Dec. ...
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ArticleKMD group sales slowed in H1, Kathmandu affected by weak winter down under
All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...
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News briefsNew Wave increases operating profit by 5% in FY23
Annual operating profit for Swedish New Wave Group, whose business operates in three segments, increased by 5 percent to 1,577.2 million Swedish kroner (€140.4m) for the 12 months ended Dec. 31 as total revenues inched up by 2 percent to SEK 3,874.6 million (€344.9m) from SEK 3,782.3 million. In Q4, ...
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ArticleYeti misses Q4 sales mark, but international soars
Yeti is forecasting sales growth of 20-25 percent in 2024 from all markets outside the U.S. after stellar results from the segment in FY23. The group’s international sales expanded by 28 percent last year to nearly $260.7 million, fueled by momentum in Europe, where the brand is now carried in ...
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News briefsHelly Hansen sales rose by 7.1 percent in 2023
Helly Hansen, the Norwegian brand owned by Canadian Tire, generated C$837.2 million (€576.2m) in 2023 sales versus C$781.9 million in 2022. In the final quarter, the business suffered a 9.3 percent sales decline to C$274.0 million (€188.6m) against C$301.8 million due to the timing of shipments as more fall/winter products ...
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News briefsPolygiene says recovery in sight after difficult year
Polygiene, which suspended its long-term financial guidance in December, reported a Q4 operating loss of 302.4 million Swedish kronor (€26.7m) for the three months ended Dec. 31. Total sales fell by 23 percent to SEK 30.9 million (€2.7m) from SEK 40.0 million but gross margin expanded by 570 basis points ...
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News briefsJack Wolfskin Ebitda about ‘breakeven’ in 2023
Topgolf Callaway Brands President and CEO Chip Brewer spoke briefly about Jack Wolfskin during the company’s Q4 conference call this week, commenting that the segment’s margins were “challenged” during the final period due to ongoing softness in Europe and high inventories at retail. However, the outdoor brand’s business in China ...
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ArticleFenix Outdoor facing ‘very challenging’ market in 2024
Fenix Outdoor says FY24 growth will need to come from re-orders and its own DTC channels, given that many of its retail partners are facing financial challenges. After an expected difficult wholesale business in Q1, the group thinks inventories will improve in Q2, which could result in possible product shortages ...
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ArticleShimano forecasts further sales erosion after difficult FY23
Citing soaring raw material prices, possible further disruptions to global supply chains, and persistent economic worries around the world, the Japanese Shimano group is forecasting a 36.6 percent drop in year-over-year operating income in FY24 to ¥53,000 million (€329.4m) on an 11.5 percent decline in consolidated sales to ¥420,000 million ...
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News briefsNewell Brands’ Outdoor & Rec segment needs a turnaround
Newell Brands Outdoor & Recreation segment that includes Coleman, CampingGaz, and Marmot is the company’s business unit “in most need of a turnaround,” President and CEO Chris Peterson told analysts as the Atlanta company reported Q4 and FY23 results. The Outdoor & Rec business, which has a new marketing ...
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ArticleGoPro counts on some wins despite Q4 and FY losses
GoPro is increasing its retail presence and product range while ramping up its brand exposure at global sporting events, despite reporting Q4 and FY23 operating losses and declines in revenues. Ten months since launching a multi-year growth strategy, the group says it can count on some wins despite the reported ...
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ArticleThe North Face, EMEA stronger in ‘challenging’ VF quarter
VF Corp., whose current portfolio includes The North Face (TNF), Vans, Timberland and Dickies, among others, initiated a strategic review of its brand assets after reporting disappointing Q3 results “across the board” that included double-digits declines in total sales, wholesale revenues and for three of its main brands. The group, ...
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ArticleVista Outdoor posts Q3 loss, but Revelyst inventory improves
Vista Outdoor´s operating loss was $180.0 million against a profit of $96.7 million for the period ended Dec. 24. The net loss was $148.2 million against a profit of $65.1 million as gross margin slid by 190 basis points to 29.7 percent from 31.6 percent. Total sales fell 9.6 percent ...
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ArticleDeckers reports strong results, raises guidance and names new CEO
Bolstered by strong Q3 gains in the DTC channel, Deckers Brands has reported 35 percent operating income growth, 16 percent revenue expansion on a reported basis, and a 570-basis-point increase in gross margin for the period ended Dec. 31. With the strong results, the Ugg and Hoka parent raised its ...
