All Outdoor Industry Compass articles in Volume 15, Issue 8+9 – Page 3
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News briefsSamsonite continues to see improving sales trends, Gregory back to pre-pandemic levels
First half revenues 59 percent to $1,270.2 million from $799.5 million for the six months ended June 30 as the Gregory Mountain Products parent continued to experience improving sales trends that began in the second half of 2021. Excluding China, where renewed pandemic-related lockdowns impacted performance, consolidated second-quarter sales were ...
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News briefsBerghaus refreshes and expands free repair services at headquarters
British brand Berghaus has revived its in-house “Repairhaus” repair center, placed at the company headquarters and originally established 56 years ago. The repair shop’s trained staff will give any damaged Berghaus clothing, shoes, backpacks or accessories (no matter how old or weathered they are) a second life, if possible. Pieces ...
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News briefsNite Ize announces six outdoor brands to integrate Tru Zip into their products
Source: Nite Ize Tru Zip Nite Ize announced that six outdoor brands are to integrate its Tru Zip product technology, a fully water and dust-proof, toothless sliding zipper made in the U.S. and patented in 2019, into their styles: Simms Fishing, Hydro Flask, Fishpond, CamelBak, Booe and ...
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News briefsThe Mycel Project closes $10 million funding round for new production facility
The South Korean biomaterials start-up company Mycel Project, a spin-off of the Hyundai Motor Group, has just closed a new pre-Series A funding round, raising a total of $10 million. Six main investors (a Hyundai Motor fund among them) are now involved in the company funding, most of them based ...
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News briefsSolo Brands generates 53 percent increase in Q2 sales
Solo Brands, a direct-to-consumer-focused company that currently owns four lifestyle brands, reported a 53 percent increase in second-quarter earnings to $136.0 million from $88.7 million for the period ended June 30. The revenue gain was driven by acquired businesses and higher DTC and wholesale channel revenues. DTC sales rose 63 ...
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News briefsTrek acquires two more U.S. retail chains
Trek Bicycle Company is acquiring two chains in the U.S., American Cycle & Fitness and East Coasters Bike Shops. The deals will raise its store total to 35. These will be the company’s fourth and fifth acquisitions this year, after the 21 stores of David’s World Cycle (April), the two ...
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News briefs
Ranra wins Zalando's Sustainability Award
Zalando has announced Ranra as the winner of its fourth Zalando Sustainability Award in partnership with Copenhagen Fashion Week, the largest fashion week in the Nordic region held biannually in January/February and August. The award, which was introduced in February 2021, recognizes strategies that contribute to a more sustainable industry ...
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News briefsGlobal study by Recurate shows demand for brand-owned re-commerce offerings
The U.S.-based resale platform provider Recurate, founded in 2020, has conducted a new re-commerce study in eleven markets worldwide, together with social impact agency BBMG. To understand consumers’ pre-owned product shopping habits, the company has surveyed a mix of non-active and active e-commerce shoppers. First and foremost, the study finds ...
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ArticleThredUp loses $28 million in Q2, may lay off 15% of workforce
California-based ThredUp Inc, a company operating in the apparel resale market that also provides a platform for third-party brands, announced its financial results for the second quarter ended June 30, 2022. Revenue increased 27 percent to $76.4 million, while active buyers increased 29 percent to 1.7 million. The gross margin ...
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News briefsCotopaxi becomes a member of 1% for the Planet
U.S. outdoor brand and certified B Corp Cotopaxi announced its membership in 1% for the Planet, reaffirming its commitment to donate 1 percent of sales to certified nonprofit organizations working to improve human living conditions. Since its inception, Cotopaxi has already donated 1 percent of its sales to nonprofit partners ...
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ArticleRevolutionRace growth slows as CEO steps down
RevolutionRace said sales growth decelerated further in July, continuing the trend seen in the fourth quarter ended June 30, when the top line grew by 16 percent to 318.2 million Swedish kronor (€30.2m), down from the 50 percent sales gain seen in the previous quarter. “Looking ahead, we are very ...
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Short stops
Short Stops Week 33, 2022
EXECUTIVE CHANGES +++ Wisconsin-based Trek Bicycle has announced that Roger Gierhart, a Trek executive since 2004, will take over as vice president of Ascend, the retail management system the company markets to independent bicycle retailers +++ Cascade Designs, parent of MSR, Therm-a-Rest, Platypus, SealLine and PackTowl, has hired Jaime Buyagawan ...
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News briefsExtension of fundraising period for Giant officially approved
On Aug. 15, the extension of the fundraising period for Giant Manufacturing Co. Ltd.’s (Giant Group, Taiwan’s largest bicycle manufacturer) 2022 cash capital increase was officially approved by the domestic Financial Supervisory Commission. On May 26, Giant Group had already received approval from the commission for a cash capital increase ...
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News briefs1% for the Planet releases annual report 2021, growth in members and donations
In its 2021 annual report, 1% for the Planet looks back at the environmental projects carried out worldwide and provides insight into its financial situation. In 2021, the network saw growth in members, certified donations and supported nonprofits. Specifically, the organization reported a 25 percent increase in corporate members, resulting ...
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News briefsNyrensten steps down as CEO of RevolutionRace
Source: RVRC Holding Pernilla Nyrensten, former CEO of RevolutionRace RVRC Holding (RevolutionRace) has announced changes to its leadership team. Pernilla Nyrensten is stepping down as CEO at her own request. She will continue as an active member of the board of directors, focusing in particular on brand ...
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ArticleCanadian Tire’s SportChek, Helly Hansen make key gains in Q2
Canadian Tire’s SportChek and Helly Hansen business units made strides in a period where the national retailer generated a 9.9 percent overall retail sales growth to 5,363.8 million Canadian dollars (€3.95b) and an Ebit decline of 41 percent to C$123.8 million (€10.2m) from C$208.6 million. At SportChek, which ended the ...
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ArticleCanada Goose sales up 24% in seasonally sluggish quarter
Canada Goose, confirming it has not seen any signs of slowing demand for its products, reported 24.2 percent revenue growth to 69.9 million Canadian dollars (€51.4m) from C$56.3 million in its first quarter. The Q1 operating loss widened by nearly 31 percent to C$80.7 million (€59.4m) from C$61.8 million, but ...
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ArticleLeatt reports yet another quarter of global revenue growth
U.S. over-the-counter (OTC) traded South African protective equipment maker Leatt Corp reported a 25.4 percent increase in sales (compared to Q2 2021) to $17.94 million for the second quarter of the current fiscal year 2022. Operating income increased 18.5 percent to $3.73 million, while net income increased 13 percent to ...
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News briefsHoka launches UTMB augmented reality experience
Ahead of the 2022 Ultra Trail du Mont-Blanc (UTMB) in Chamonix (Aug. 26), Hoka has launched an interactive AR experience to immerse supporters in the magic race moments of Mont Blanc. Designed by AR specialist agency Green Room, the series of on-site 360° interviews and location captures ...
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News briefsVaude CEO von Dewitz appointed as member of governmental SME advisory board
Source: Vaude Antje von Dewitz The German minister for economic affairs and climate, Robert Habeck, has appointed the advisory council for issues relating to small and medium-sized businesses (SMEs) and the liberal professions for the current legislative period. Vaude’s managing director Antje von Dewitz (who has already ...
