SGB Executive Outdoor

EXEC: Adidas Ups Full-Year Guidance on Improved Preliminary Q3 Results

Adidas now expects full-year 2023 currency-neutral revenues to decline at a low-single-digit rate in 2023 compared to its previous forecast of a mid-single-digit decline. An operating loss of around €100 million is now forecast, compared to its previous estimates for a loss of €450 million for the year.

EXEC: Vista Outdoor to Sell Ammo Business to Czechoslovak Group

Vista Outdoor announced that it planned to sell its Sporting Products business to Czechoslovak Group. (CSG) for $1.91 billion, shifting from a planned spinoff of its Outdoor Products segment. Gary McArthur, interim CEO, said, “We believe this creates meaningful value for stockholders, and sets up both Sporting Products and Outdoor Products for long-term success.”

EXEC: Giant Group Sales Fall in Third Quarter

Consolidated revenue for the third quarter declined 24.5 percent year-over-year as sales in each month of the quarter declined more than 20 percent. Still, the decrease in September was a a sequential improvement versus sharper declines in July and August.

EXEC: Volumental’s Brent Hollowell Talks Fit for Feet

Volumental, the Swedish footwear fit tech company, recently hired industry veteran Brent Hollowell as general manager for its North American operations, responsible for accelerating growth in the region. Hollowell talked with SGB Executive about his role, Volumental’s push into North America, the barriers to fit tech, and the potential of generative AI in the fit process.

EXEC: Sports Direct Parent Expands Stake in Norwegian Retailer

Shares of XXL, the struggling Oslo-listed sports retailer, are reportedly surging after the company reported that Frasers Group, the UK-based parent of Sports Direct, purchased 117.4 million shares of the company, bringing its total holding to 162.1 million.

EXEC: Report Sees Crocs, Hoka, New Balance, and On Increasing Teen Appeal

Crocs, Hoka, New Balance, and On were among the brands in the active lifestyle space that increased their appeal with teens in Piper Sandler’s 46th Semi-Annual Taking Stock With Teens Survey. Nike dominated teen mindshare in footwear and apparel but lost brand appeal in the performance category, while Adidas, Converse, Under Armour, and Vans ost ground with teens. Lululemon had a mixed performance.

Rupert Campbell Leaving Adidas North America

The president of Adidas North America will step down to pursue other opportunities, effective October 27. Executive board member Arthur Hoeld, who leads global sales, will oversee the region until a successor is found.

EXEC: Hydro Flask and Osprey on Divergent Paths in Fiscal Q2

Osprey reportedly surpassed expectations for the third straight quarter with help from improving travel demand, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.