Benefitting as people spend time outdoors during the pandemic, Yeti Inc. reported earnings and sales in the second quarter that handily topped Wall Street targets. Said Matt Reintjes, president and CEO, "Yeti’s product performance, durability and versatility are key as customers rely on, and invest in, brands that help them enjoy outdoor activities.” (Read More)
Adidas said it expects revenue to recover in the third quarter as stores continue to reopen and digital sales thrive after the coronavirus lockdowns pushed the company into a net loss in the second quarter. (Read More)
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, saw second-quarter revenues collapse as it was forced to cancel 60 events and postpone 14 others due to COVID-19. But company officials said it’s making “significant progress” with an ongoing organizational restructure and its virtual events are seeing a strong response. (Read More)
Newell Brands said sales at its Outdoor & Recreation segment, which includes Coleman and Marmot, fell 20.3 percent in the second quarter but Coleman’s sales are reviving since June as interest in camping has taken off. Two industry executives, Jim Pisani and Bill Kirchner, are helping guide the segment’s turnaround. (Read More)
VF Corp. reported results for the first quarter ended June 30 that were significantly sidetracked by COVID-19 but still ahead of internal expectations due to strength in international and digital. The highlight of the challenging quarter was the widespread digital momentum that drove both sales and consumer engagement. (Read More)
Compass Diversified Holdings said it's 5.11, Velocity Outdoor and Liberty Safe businesses all exceeded expectations to lead better-than-expected performance in the second quarter. Momentum in those business units helped offset softness at newly-acquired Marucci Sports as well as its non-sports businesses. (Read More)
Shares of Big 5 Sporting Goods were trading up about one-third after the sporting goods chain reported that the strong recovery in sales seen in the latter part of the second quarter only accelerated in the third quarter with same-store sales soaring 31.9 percent in July. Steve Miller, CEO, told analysts, “One of our biggest challenges in recent months has been keeping up with robust consumer demand." (Read More)
While scores of fitness enthusiasts have embraced connected fitness over the last 12-to-18 months, connectivity has become an expectation for home and club workouts as COVID-19 has accelerated adoption, contends Mark Watterson, iFit’s president. (Read More)
Recent retail surveys and studies included Deloitte finding Millennials and Gen Zs remaining resilient in the face of COVID-19. Other surveys explored the rise in consumer boycotts, concerns over store safety protocols, as well as outlooks for small businesses, consumer spending, and online growth. (Read More)
Many observers have been saying people are heading to the outdoors to safely recreate amid the pandemic and it’s finally been showing up in recent months in sales figures, officials at NPD Group said at a session at Outdoor Retailer Online. The outdoor community was encouraged not to miss the chance to convert outdoor newcomers into life-long fans. (Read More)
Nike Inc. announced a number of leadership changes as well as job reductions as part of the recent launch of its Consumer Direct Acceleration strategy largely designed to further drive digital engagement and growth. Termination costs in the range of $200 million to $250 million will be taken for the unspecified job cuts. (Read More)
On an online webinar hosted Thursday by Brooks Running, panelists discussed how the recent surge in running activity seen across the U.S. is being driven by runners seeking stress relief after finding their lives jolted by COVID-19. Fortunately, this new group of “soul runners” is expected to be more dedicated and make running a continuous part of their lives. (Read More)
Japanese researchers have found COVID-19 infection indoors is almost 19 times higher than outdoors. The findings add to a number of recent studies touting the health and safety benefits of getting outdoors as well as challenges staying active amid lockdowns. (Read More)
Only 53 percent of parents expect their child to resume sports activity at the same or higher amount when current COVID-19 restrictions are removed, according to a new national survey from the Aspen Institute’s Project Play initiative and Utah State University. That’s down from 70 percent in early May from a similar survey by North Carolina State University in partnership with Project Play. (Read More)
Waco Shoe Company’s Co-Owners, Jeff Antonioli and Brad Granger, talked to SGB Executive about the formation of Waco Shoe Company, the strong growth being seen across Spenco’s footwear range and untapped growth potential for Revitalign, Iron Man, Iron Sport, and soon-to-arrive Waco Shoe brand.Antonioli (Read More)
A new report from the Capgemini Research Institute, “Consumer Products and Retail: How sustainability is fundamentally changing consumer preferences,” finds that sustainability has risen with consumers with 79 percent changing their purchase preferences based on social responsibility, inclusiveness or environmental impact. (Read More)
Retail surveys and studies that arrived last week included Ernst & Young identifying five new consumer segments emerging from the coronavirus pandemic. Others explored back-to-school spending, in-store shopping comfort, holiday spending online, and returning merchandise. (Read More)
According to a release from the U.S. Consumer Product Safety Commission, Britax's modified thru-bolt axles for use with BOB Jogging Strollers are being recalled. (Read More)
The ICR Conference in Orlando, FL, gave brands across the consumer and retail industries a chance to present their current financial profile and plans for 2019 and beyond. Some companies, like Lululemon (whose presentation wasn't public), have seen values surge post-conference. (Read More)
Late Friday afternoon and early Monday morning saw a host of preliminary sales and updated guidance releases from companies presenting at the ICR Conference, being held in Orlando, FL. Here's a roundup of what retail and consumer brands announced over the last couple of days. (Read More)