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Currency headwinds weigh on Helly Hansen’s results
Helly Hansen’s revenues for the second quarter fell by 21.0 percent to 68.9 million Canadian dollars (€44.1m-$52.1m), weighed down by store closures and foreign-currency-headwinds. In constant currencies, they fell by 12.6 percent.
Omni-channel retail specialist to become new president of Wolverine Worldwide
Brendan Hoffman will take office on September 8 as the new president of Wolverine Worldwide, the company announced earlier this week. Hoffman will then also join the company’s board of directors.
Organic cotton production sees 31% jump
The production of organic cotton showed a 31 percent increase in the 2018/19 harvest year over the previous year, according to the Textile Exchange’s 2020 Organic Cotton Market Report. The 2018/19 harvest year saw the second biggest harvest of organic cotton ever recorded, surpassed only marginally in 2009/10. The report ...
Canada Goose to cut production as Covid-19 hits Q1 sales
Canada Goose is cutting production and opening fewer stores as the coronavirus pandemic hit its sales, causing first-quarter net losses to almost double to 50.1 million Canadian dollars (€32.0m-$37.7m) from Can$ 29.4 million a year earlier. On adjusted basis, excluding restructuring charges, the net loss amounted to Can$ 38.4 million ...
Sluggish sales for Black Diamond
A weak performance from Black Diamond, Clarus Corp’s biggest brand, pushed the group’s sales for the second quarter down by 36 percent to $30.0 million. The parent company of BD, Pieps and Sierra Bullets saw its net loss widen to $2.7 million, from $0.7 million for the same three months ...
GoPro widens losses
Sales for the U.S. action camera brand tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net ...
Moody’s and S&P forecast 15% sales decline at Amer Sports
In a new report, rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda was a loss of €26 million for the first half, against a ...
Direct sales lifts Yeti’s results
Yeti, the American brand of coolers and drinkware and other outdoor equipment, recorded a 7 percent gain in revenues to $246.9 million, driven by strong growth in direct-to-consumer (DTC) sales, which increased by 61 percent to $133.0 million. This was driven by both Coolers & Equipment and Drinkware, due to ...
Vista Outdoor benefits from resurgence in outdoor recreation activities
The Outdoor Products division of Vista Outdoor, which includes brands such as Bell, Giro, Camelbak, Camp Chef and Bushnell Golf, recorded a 4 percent drop in sales to $145.0 million in the first fiscal quarter ended on June 28, largely due to restrictions related to the Covid-19 outbreak. These restrictions ...
Callaway’s profit plunge due to Jack Wolfskin writedown
Callaway Golf Co. ended the second quarter in the red due to a $174 million impairment charge related to the Jack Wolfskin goodwill and trade name. It posted a net loss of $167. 7 million, versus net income of $28.9 million for the year-ago quarter. The management said the charge ...
Mammut struggles amid restructuring
Revenues for the Mammut Sports Group declined by 31.4 percent to 80.9 million swiss francs (€74.9m-$88.6m) in the first half of 2020, including a drop of 29.1 percent in comparable sales. The operating loss widened to CHF 23.3 million (€21.5m-$25.5m), down from an operating loss of CHF 5.3 million for ...
Millet and Lafuma expand environmental and social strategy
The French outdoor brands Millet and Lafuma, brands of the Millet Mountain Group, which belongs to the Calida Group, have further developed their environmental and social strategy in line with current developments under the motto “Rising Change.” According to its own statements, the Millet Mountain Group has already been paying ...
Amazon’s Swedish website has leaked
After the entire website has leaked thanks to a Finnish software developer, one thing is for sure: After years of speculation, Amazon is finally being launched in Sweden. Until now, Swedish consumers and companies have only had access to the other European Amazon websites. According to the Swedish trade magazine ...
ITK and Bosch Research set up competence center for intelligent textiles
ITK Engineering, a German technology company operating internationally with customers mainly in the automotive and aerospace industries and a 100-percent subsidiary of the Robert Bosch GmbH since 2017, joined forces with Bosch Research to set up the Smart Textile Competence Center in the German town of in Rülzheim to investigate ...
Wolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
Lenzing's H1 sales collapse due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
Rossignol to sell Raidlight except for Outdoor Experiences division
The Rossignol Group has announced the sale of Raidlight Vertical, a French company specializing in footwear, apparel and equipment for trail running and ski touring, with an annual turnover of around €8 million. It will only keep and expand its Outdoor Experiences division, which organizes trail running, Nordic walking, mountain ...
FESI welcomes free trade agreement between EU and Vietnam
The Federation of the European Sporting Goods Industry (FESI) is welcoming the long-awaited formal entry into the Free Trade Agreement between the European Union and Vietnam (EVFTA) on Aug. 1. After more than eight years of negotiations, the EU and Vietnam will finally benefit from a free trade agreement that ...
Newell sales drop by 20%
Currency headwinds and the effects of the Covid-19 pandemic caused Newell Brands’ revenues for the second quarter to drop by 14.9 percent to $2.1 billion. The gross margin contracted by 3.4 percentage points to 31.5 percent due to measures to reduce debt, currency fluctuations and unfavorable mix.
Johnson Outdoors tries to keep up with post-lockdown demand
Strong Fishing, Watercraft Recreation and Camping sales after the lockdowns were eased in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ...
Despite very difficult Q1, VF expects improvement
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
Hoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
Columbia ends Q2 with loss
After a difficult first quarter to 2020 because of the Covid-19 pandemic, Columbia Sportswear Company is not having more luck in the second one. It has posted a net loss of $50.7 million, compared with net income of $23.0 million for the year-ago quarter, while sales dropped by 40 percent ...
Columbia Sportswear releases 2019 Corporate Responsibility Report
Columbia Sportswear Company (CSC) released its 2019 Corporate Responsibility Report, which includes highlights from the progress made throughout 2019 in the three main areas of focus in its corporate responsibility strategy – empowering people, sustaining places and responsible practices. The 56-page report assesses work accomplished in 2019 by its four ...
Russian outdoor goods industry resumes operation
Russian outdoor industry companies hit by the Covid-19 pandemic are gradually getting back to business.
Peak Performance releases 2019 Sustainability Report
With its Sustainability Performance Report 2019, Peak Performance provides information about its sustainability work and the progress the brand made last year. In 2018, the Swedish outdoor brand published its first sustainability report and has since continued to push the agenda. The brand says it has made significant progress in ...
Lafuma Group hit by Covid-19 amid restructuring
Groupe Lafuma said the company was “shaken” by the Covid-19 pandemic in mid-March during a period of structuring its brand portfolio and activities.
Patagonia starts campaign for regenerative organic farming
Believing that it is one of the most effective ways to combat climate change and feed a growing population while maintaining a healthy planet, Patagonia will be drawing attention to regenerative organic farming this fall. Switching from industrial agriculture to regenerative organic farming creates healthy soils that bind significantly more ...
U.S. Congress passes Great American Outdoors Act
On July 22, the U.S. House of Representatives voted in favor of the Great American Outdoors Act. The bill, which passed by a bipartisan vote of 310-107, is now headed to President Donald Trump in order to become law. In a public statement, the Outdoor Industry Association (OIA) celebrated the ...
Garmin hit by cyber attack
Garmin confirmed that the company was the victim of a cyber attack on July 23 in which some of Garmin’s systems were encrypted by outsiders, resulting in a significant failure of the company’s popular fitness tracking services. The German news site Spiegel Online reported indications that the company was attacked ...