All articles by Bob McGee – Page 3
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News briefsJohnson Outdoors reports soft Q1 on low demand
High retail inventory levels and soft consumer demand contributed to poor Q1 results at Johnson Outdoors. Operating profit slid 99 percent to $46,000 from $5.5 million, and net income was down by 33 percent to nearly $4.0 million from $5.9 million. The group was able to improve overall gross margin ...
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ArticleStrong Asia-Pacific sales bolster Canada Goose in Q3
Increased demand for luxury goods in China contributed to a reported 62 percent increase in Asia-Pacific sales at Canada Goose to C$270.7 million (€186.3m) for the third quarter ended Dec. 31. All other geographies posted double-digit declines in sales, including a 26 percent decline in the EMEA to C$86.8 million ...
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ArticleColumbia sees ‘challenging’ year, sets profit and growth plan
With a warm winter and a difficult US marketplace to contend with in its seasonally strong final quarter of the year, Columbia Sportswear reported a 27 percent drop in operating income to $113.1 million from $155.4 million and a 9 percent decline in total revenues to $1.06 billion from $1.17 ...
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ArticleDometic posts improved profitability, lower Q4 sales
In a seasonally weak quarter where most retail customers worked to get their inventory levels in line, Dometic reported an 89 percent increase in net income to 51 Swedish kroner (€4.5m) despite a 13.7 percent drop in revenues to SEK 5,327 million (€471.7m). The Q4 operating profit dipped 1.5 percent ...
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News briefsRVRC’s Q2 sales, net increase double-digits
Swedish DTC outdoor company Revolution Race (RVRC), bolstered by double-digit sales increases in both the DACH and the Rest of the World regions, achieved double-digit sales, Ebit and net income increase for its Q2 ended Dec. 31. RVRC realized a 36 percent year-over-year gain in operating profit (Ebit) to 143 ...
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News briefsGoPro acquires Australian motorcycle helmet company
GoPro has an agreement in place to acquire Forcite Helmet Systems, a New South Wales, Australia-based maker of tech-enabled motorcycle helmets that was co-founded by Julian Chow and CEO Alfred Boyadgis. Financial terms of the pending transaction were not disclosed. More details about the pending transaction, expected to close before ...
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ArticleOsprey sales strong for Helen of Troy
Osprey sales grew in Great Britain, Germany, and France during Q3, driven by strong travel demand and a “robust product line-up.” Helen of Troy executives said the outdoor brand, which introduced a redesigned Sojourn travel series last fall, continues to exceed its expectations. Meanwhile, the parent continued to see consumer ...
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ArticleJohnson Outdoors sees return to pre-pandemic order seasonality
Johnson Outdoors reported a Q4 operating loss of $22.6 million against a profit of $13.3 million for the three months ended Sep. 29, as three of the group’s operating segments generated lower year-over-year sales. The Q4 net loss was $16.0 million against a profit of $9.7 million as total sales ...
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News briefsRapala implementing new three-year strategic plan
Finnish fishing tackle supplier Rapala VMC reported that it will be implementing a new strategy over the next three years. The effort will be undertaken by the global fishing tackle company’s new global management team, focusing on improving the group’s profitability and working capital management. The changes on Rapala’s ...
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Data & AnalysisGlobal outdoor footwear market grows 17.8%
2022 outdoor footwear sales are up. 5 companies represented just over 50% of all sales. Find all the sales, growth and market share numbers here.
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ArticleWolverine lowers outlook as transformation plan picks up pace
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income slid ...
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News briefsRevolution Race’s Q1 net rises 36% on strong sales growth
Fueled by 44 percent growth in its Rest of World region, the Swedish DTC outdoor company Revolution Race (RVRC) generated 24 percent revenue growth to 342 Swedish kroner (€29.2m) for its first quarter ended Sep. 30. Adjusted Ebit, excluding SEK 12 million in costs related to an incentive program, improved ...
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News briefsCoDi’s large premium for Marucci will benefit the business
Compass Diversified’s decision to divest its Marucci Sports business to Fox Factory for $572 million after purchasing the brand for $200 million in 2020 will help the company reduce its cost of capital and give it “greater ability to increase shareholder returns,” it said in a statement. In Q3 ...
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ArticleGarmin posts strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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ArticleVista Outdoor will prioritize debt reduction ahead of vote on Sporting Products divestiture
Vista Outdoor, which agreed in mid-October to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion, says it will continue to prioritize debt reduction ahead of a vote by shareholders to approve the sale. The company finished Q2 on Sept. 24 with ...
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ArticleFenix Outdoor vows to spend more on marketing
Faced with still too much inventory but also high supply chain and product standards, Fenix Outdoor intends to dedicate more dollars to marketing, particularly in Germany and the US, to “explain to the [outdoor] consumers what we stand for,” commented Chairman Martin Nordin in a statement. In the ...
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ArticleVF abandons FY guidance, commences turnaround strategy
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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ArticleDeckers raises full-year guidance again on continued strength of Hoka, plans to divest Sanuk
Bolstered by sales contribution from its Ugg brand and continued momentum in its Hoka business, Deckers Brands generated a 76 percent increase in Q2 operating income to $224.6 million on nearly 25 percent total net sales growth to $1.09 billion for the three months ended Sept. 30. Net income was ...
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ArticleThule gets Q3 boost from bike-related sales in Europe
Sales increased by 8.0 percent to 2,311 million Swedish kroner (€196.0m) for the three months ended Sep. 30 but were up only 0.8 percent on a constant-currency basis. Operating income rose by 86 percent year-over-year to SEK 359 million (€30.4m) as the company’s new CEO and President Mattias Ankarberg took ...
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ArticleColumbia lowers FY23 outlook, braces for challenging Spring ’24
Columbia Sportswear, despite making strides in its ongoing inventory reduction program and improving its quarterly gross margin by 70 basis points to 48.7 percent, reported a 7 percent decline in Q3 net income to $103.5 million from $111.8 million for the period ended Sep. 30. Period operating income was also ...
