Fjällräven, the Swedish heritage outdoor brand, announced the promotion of Nathan Dopp to global vice president of parent company Fenix Outdoor International AG. Fjällräven also welcomed consumer-products veteran Jean-Marie Shields as vice president of brand experience.
Author: SGB Media
Crocs’ Q1 Earnings Shows Significant Improvement
Crocs Inc. reported first-quarter earnings rose 52.6 percent on a better-than-expected 4.5 percent revenue gain and a sharp reduction in operating expenses.
REI Co-op Names Eric Artz President & CEO
REI Co-op’s board of directors Monday named Eric Artz as president and CEO, effective immediately. Artz replaces Jerry Stritzke, who resigned in February after a board-initiated investigation into his admitted “personal and consensual” relationship with “the leader of another organization in the outdoor industry.”
Broad-Based Growth Leads Clarus To Q1 Earnings & Revenue Beat
Clarus Corp. on Monday reported sales for the first quarter ended March 31 of $61.2 million, up 15 percent from the year-ago period and ahead of Wall Street’s estimates by $3.3 million. Adjusted net income before non-cash items increased 82 percent to a record $6.9 million, or 23 cents per diluted share, compared to $3.8 million or 13 cents per diluted share a year ago.
Coleman Distribution Loss Drives Down Newell’s Q1 Performance
Outdoor equipment brand Coleman lost distribution at a key U.S. retailer, for coolers in particular, which was a key driver in parent company Newell Brands’ poor first-quarter performance that saw a 6.4 percent revenue decline in its Home & Outdoor Living segment. However, the company is “about to lap that distribution loss” by the end of Q2.
Delta Apparel’s Q2 Profits Sinks On Margin Challenges
Delta Apparel Inc. reported a sharp decline in profits in the second quarter ended March 30. The shortfall was attributed to anticipated transition costs from changes in the private label product mix and higher-cost raw materials in the Delta Group segment, coupled with higher than expected digital print acquisition integration expenses and delayed spring sales in the Salt Life Group segment.
Clarus Corporation Finalizes New $100 Million Cash Flow Facility
Clarus Corp. terminated its asset-backed credit facility and entered into a new $100 million cash flow credit facility, which also includes an uncommitted accordion feature providing for an additional $50 million, for a total of up to $150 million with J.P. Morgan Chase Bank, N.A.
Nautilus Suffers Steep Q1 Sales Drop
Nautilus Inc. reported a net loss in the first quarter as sales tumbled 26.5 percent due to sluggish sales by the Bowflex Max Trainer in Direct channels.
Johnson Outdoors Q2 Boosted By Strength In Fishing And Diving
Johnson Outdoors Inc. said it faced challenges in its kayak and tent businesses in the second quarter March 29, but still managed to show a slight increase in profits in the period due to momentum in its larger Fishing and Diving segments.
April M&A Roundup: BSN Grows Again, Volcom Gets Liberated
BSN Sports has become a fixture in SGB Executive’s monthly roundup of M&A activity, and April saw the nation’s largest direct marketer and distributor of sporting goods to the school and league markets grow yet again with the addition of two more assets. In a busy month for deals in the active lifestyle market, surf, skate and snow brand Volcom found a new owner.
RILA Criticizes Potential Move To Raise Tariffs
In a statement, RILA’s VP of international trade Hun Quach said that raising “tariffs on everyday goods will be a loser for middle-class families.” The statement came in response to President’s Trump threat to increase tariffs on Chinese goods.
Campus Den Files For Chapter 11 Bankruptcy
Campus Den, with 15 locations across Michigan, has filed for bankruptcy in U.S. Bankruptcy Court for the Eastern District of Michigan.
NRF Responds To Administration’s Threat To Raise Tariffs
In a statement, NRF’s SVP of government relations, David French, said that a “sudden tariff increase with less than a week’s notice would severely disrupt U.S. businesses.” The statement was in response to President’s Trump threat to increase tariffs on Chinese goods.
Life Fitness To Be Acquired By KPS Capital Partners
Brunswick Corporation entered into a definitive agreement with KPS Capital Partners, LP (KPS) under which KPS will acquire Brunswick’s Fitness business and related brands, including Life Fitness, for $490 million in cash.
Trump Resumes Tariff Threats Against China
On Sunday, President Donald Trump threatened to impose higher tariffs on China in a tweet, dashing hopes that Washington and Beijing would reach a trade deal in the near term. The prospect of a wider trade war sent global financial markets tumbling on Monday.
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