In March, Topo Designs received a significant equity investment from Gart Capital Partners to mark the first time that the Denver-based outdoor brand had taken on outside funding since being founded in 2008. SGB Executive talked with Jedd Rose, Topo Designs’ president, about the brand’s The New Outdoor platform and how the fresh funding will help capitalize on Topo Designs’ recent momentum.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699

EXEC: Yeti Manages Q1 Growth Despite Recall And Marketplace Pressures
Yeti Holdings, Inc. managed to deliver 3.1 percent growth in first quarter that beat expectations despite the period being negatively impacted by a massive voluntary recall and the expected slow pace of orders in the North American wholesale channels.

EXEC: Wolverine To Explore Sale Of Sperry; Saucony’s President Departs
Wolverine World Wide, Inc. reported first-quarter earnings that slightly exceeded expectations on strength at Merrell and Saucony while announcing that it was exploring the sale of its struggling Sperry business and revealing that Anne Cavassa, president of Saucony, had left the company.

EXEC: Under Armour’s New CEO Delivers Playbook To Revive Growth
In her first address to the investment community, Stephanie Linnartz, Under Armour’s new CEO, declared, “Growth is without a question our highest priority.” She cited footwear, women, sport style and full-price stores as untapped opportunities but particularly stressed an urgency for Under Armour to establish a more-premium positioning and amplify brand heat.

EXEC: Solo Brands Tops Q1 Expectations On Wholesale Momentum And Solid Fill-ins
Solo Brands, Inc.’s sales expanded 7.3 percent in the first quarter, topping expectations, as fill-ins address early sell-through. The replenishment orders helped the company boost Q1 wholesale revenues to offset declines in its e-commerce business.

EXEC: Johnson Outdoor Sees Strength In Fishing And Dive Offset Outdoor Weakness
Johnson Outdoor’s sales increased by 7 percent in the fiscal second quarter ended March 31. On an analyst call, Helen Johnson-Leipold, chairman and CEO, said improved product availability in Fishing and continued momentum in Diving offset a “post-pandemic slowdown” affecting its Camping and Watercraft sales.

EXEC: Inside Topo Athletic’s Sale To DBI With Topo CEO Tony Post
Last December, Topo Athletic, largely known for its running footwear, was acquired by Designer Brands, Inc., the parent of the DSW family footwear chain. Here, Tony Post, who founded the brand in 2012 and remains CEO, discusses the reasons behind the sale, how the merger impacts Topo’s core specialty business and what categories have been driving growth.

EXEC: Vista Outdoor’s Shares Pop On Brighter Outlook
Shares of Vista Outdoor jumped 16.4 percent on Thursday after Gary McArthur, interim CEO, on the company’s fourth-quarter conference call provided an upbeat outlook for the business, including predicting a return to growth for the Outdoor Products segment in the back of the current fiscal year and a more normalized purchasing cycle going forward for the Sporting Products segment.

EXEC: Acushnet’s Q1 Boosted By Titleist Momentum
Acushnet Holdings Corp. reported first-quarter earnings that handily topped Wall Street’s guidance, led by robust double-digit gains for Titleist golf balls and clubs tied to successful launches. David Maher, Acushnet’s president and CEO, told analysts, “The Acushnet team is excelling on the product development, manufacturing and supply chain management fronts.”

CODI: Retail Inventory Woes Drive Q1 Declines At BOA And Primaloft; Marucci And 5.11 Post Gains
Compass Diversified (CODI) saw sales decline 33 percent at BOA, 34 percent at Velocity Outdoor and 5 percent at Primaloft with all impacted to varying degrees by elevated inventories in the marketplace. Marucci Sports and 5.11 both delivered healthy double-digit sales growth.

EXEC: Champion’s Steep Q1 Revenue Drop Blamed On Promotional Environment
On its first-quarter analyst call, Steve Bratspies, CEO of Hanesbrands Inc., attributed the Champion’s 22 percent tumble in the U.S. in the period on promotional pressures in an over-inventoried marketplace. He said, “When you get an inventory backup of the scale that we have, people try to move it and try to move it aggressively.”

KOA: Camping Participation Declines Off Record Highs
Kampgrounds of America, Inc’s (KOA) 2023 North American Camping and Outdoor Hospitality Report found camping, and glamping to a lesser degree, accounted for 32 percent of all leisure trips in 2022, down from a record high of 40 percent in 2021. However, participation among active campers held steady.

EXEC: Big 5 Hit By Weather And Macro Headwinds
Big 5 Sporting Goods Corp. reported same-store sales declined 7.1 percent in the first quarter ended April 1 with cold and rainy weather stalling the start of baseball, softball and other spring sports seasons. On an analyst call, Steve Miller, president and CEO, said comps are down 11 percent for the second quarter to date and expected to decline in the high single-digit range due to macro pressures.

EXEC: Black Diamond’s Growth Slowed By NA Wholesale Inventory Overhang
Clarus Corp. reported modest growth in its Black Diamond segment as gains in its direct-to-consumer and international channels helped offset fewer shipments to its North American wholesale channel due to elevated inventory levels and reduced open-to-buy dollars. Clarus also indicated BD’s inventories would not be rebalanced until the fall.

EXEC: Inside The Marathon Sports Deal And The 400-Door Plan With Fleet Feet’s CEO
Fleet Feet has been busy, acquiring Boston’s Marathon Sports last year on top of its 2021 acquisition of the JackRabbit chain. Here, Joey Pointer, CEO, discusses the reasons behind the Marathon Sports’ acquisition and its ongoing expansion appetite, its recent performance, key initiatives and more.