All Outdoor Industry Compass articles in Vol. 16, Issue 2 – Page 9
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News briefsBoost secures six-figure investment
Source: Lavita Boost by LaVita Boost, a British brand specializing in e-bike conversion kits, has announced the completion of a funding round with a six-figure investment raise. Founded by Cambridge design engineer Nick Bailey, Boost is an aftermarket conversion kit brand that works directly with retailers. The ...
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News briefsTrove expands leadership team with appointment of CTO and CFO
Trove, the U.S.-based service provider whose technology powers the resale services of several sporting goods companies, including Canada Goose, Lululemon, Patagonia, REI, Arc’teryx, Allbirds and others, announced that Natalya Davick has been named chief financial officer and Julia Cai has been named chief technology officer. Cai will lead a team ...
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News briefsCanyon appoints general manager for Asia
Source: Canyon Hideki Mochizuki German DTC bicycle supplier Canyon Bicycles GmbH has announced that Hideki “Mochi-san” Mochizuki, a veteran of the bicycle industry, has joined the company as general manager for the Asia Pacific region. He will join Canyon’s executive leadership team and will be responsible for ...
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News briefsEurobike 2024 will take place in early July
Even before the start of the upcoming Eurobike 2023 on June 21, the organizers of Fairnamic GmbH have set the date for the 2024 edition of the leading trade show in Frankfurt am Main. The 32nd edition of the show will take place from Wednesday, July 3, to Sunday, July ...
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SponsoredThe future of textiles is biodegradable
Although recycling is the most popular solution to ecological issues, it may not be the most sustainable option in many cases. There are still many grey zones and questions: Who does the recycling and how much energy does this involve? There are also unanswered questions about the additional emissions that ...
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ArticleAfter an 18% decline in Q4, Rocky Brands expects sales to drop 7-9% in 2023
Rocky Brands expects sales to decline by about 7 to 9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022, as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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Short stops
Short Stops Week 9, 2023
PRODUCT & MARKETING +++ Merrell, reports Diffusion Sport, has released version 7 of its Trail Glove zero-drop, vegan-friendly trail-running shoe, with barefoot feel, FloatPro foam and bidirectional Flexconnect grooves in the midsole +++ Mountain Hardwear has expanded its athlete’s team with the addition of four new ambassadors: alpinist Benjamin Lieber, ...
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ArticleFox Factory posts record sales and profits in challenging fiscal 2022
On Feb. 23, suspension specialist Fox Factory Holding Corp. announced financial results for the fourth quarter and full fiscal year 2022. Thanks to continued strong sales in the second half of the year, marked by a general reluctance to buy due to inflation, the U.S. company once again posted record ...
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News briefsAndrés Iniesta backs the new Guava bike brand
Never Say Never Ventures (NSN), the business incubator co-founded by former FC Barcelona player Andrés Iniesta, is backing the launch of Guava, a new high-end bicycle brand focused on gravel. Guava was founded in Barcelona by David Álvarez and Nacho Suárez, two friends with more than 25 years of experience ...
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News briefsShimano establishes joint venture for Southeast Europe
Shimano Europe has announced a joint venture with Greece-based Nikos Maniatopoulos to handle bicycle components and fishing tackle sales and service in most of Southeast Europe. The joint venture will operate as Shimano South-East Europe. Integration is planned to start on April 1. The joint venture builds on a long-standing ...
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News briefsAngling Direct posts revenue growth, driven by in-store sales
Angling Direct, the British omnichannel fishing tackle and equipment retailer, posted sales of £74.1 million (€84m) for the financial year ended Jan. 31, 2023, representing a 2.2 percent increase from the prior year. Sales were boosted by the opening of new stores in Washington (July), Coventry (August) and Stockton-on-Tees (September). ...
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ArticleGarmin's operating income drops in Q4, targets $5 billion for FY23
Positive currency effects of more than $44.5 million helped Garmin report a 2.5 percent increase in Q4 net income to $293.3 million from $286.1 million. Operating income decreased 15 percent to $267.2 million for the period ended Dec. 31, but gross margin improved to 57.0 percent from 55.5 percent. Total ...
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ArticleWolverine Worldwide forecasts significant increase in profits in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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News briefsVF issues Eurobonds worth €1bn
VF Corp. intends to use proceeds from the proposed offering of two €500 million tranches of notes, which are due in 2026 and 2029 with respective coupon rates of 4.125 percent and 4.25 percent for debt repayment, general corporate purposes and to fund certain sustainable development projects. J.P. Morgan, Morgan ...
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News briefsSecond European Adidas Terrex store opened in Salzburg
Adidas Terrex has opened its second concept store in Europe in Salzburg’s historic pedestrian zone, following the premiere of the specialist retail project in Munich in 2021. The new store is less than half the size of its Munich counterpart (176 sqm vs. 370 sqm) but carries the complete collections ...
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News briefsReebok and Danielle Guizio launch new hiking boot
Source: Guizio x Reebok Guizio x Reebok Club C Cleated Reebok and Danielle Guizio, a New York-based designer who founded her eponymous womenswear label in 2014, have unveiled the two brands’ latest capsule collection: the Guizio x Reebok Club C Cleated. This follows the Club C 85 ...
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News briefsCake launches all-in subscription model
Cake, the Swedish maker of premium lightweight electric motorcycles, has launched Cake Subscribe, an all-inclusive subscription model that caters to professional business needs. The new program aims to ease the burden of upfront costs associated with buying a vehicle or a fleet of vehicles by requiring no down payment. Service ...
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News briefsCascade hires David Fee as VP of sales and marketing NAPR
Cascade Designs has hired the former U.S. general manager of Castelli Cycling, David Fee, as its new vice president of sales and marketing for North America and the Pacific region. Fee will drive overall sales and marketing strategy for the region across all Cascade Designs product categories and distribution channels ...
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News briefsHow to start business climate action: STICA offers new webinar series
The Swedish Textile Initiative for Climate Action (STICA) and its partners will host four webinars starting March 7, 2023, to help apparel and outdoor companies speed up on what is required to accelerate their climate protection duties. The online seminar series is primarily aimed at medium and smaller size apparel ...
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ArticleDirect, international drive Yeti in Q4
Yeti’s results were negatively impacted by voluntary recalls of certain soft coolers and dry gear bags for the period ended Dec. 31. Fourth quarter sales rose by 1 percent to $448.0 million from $443.1 million but were up 10 percent year-over-year to $486.4 million excluding impacts from the recalls. Direct-to-consumer ...
