SGB Executive Outdoor
EXEC: VF CEO Not Ready to Predict When Growth Returns
With July 17 marking his one-year anniversary, Bracken Darrell, VF Corp’s president and CEO, cited a number of accomplishments under his tenure, including significantly reducing debt, inventories and costs on the company’s first-quarter analyst call. The sales decline in the latest quarter also moderated versus the prior quarter, but Darrell declined to predict when growth would turn positive.
EXEC: Vista Outdoor Sees Revelyst Turnaround Plan on Track
Eric Nyman, co-CEO of Vista and CEO of the Revelyst outdoor products business, insists Revelyst is on the road to recovery, forecasting sales trends will steadily improve and reaffirmed Vista’s target to double Revelyst’s standalone adjusted EBITDA in FY25.
EXEC: Johnson Outdoors to Double-Down on Cost-Cutting Amid Sales Struggles
Helen Johnson-Leipold, chairman and CEO, told analysts that “continued tough marketplace conditions significantly impacted Johnson Outdoor’s results through the quarter, with consumer demand for outdoor recreation products remaining depressed across all of the company’s categories through the peak season.”
EXEC: Marucci is “Standout Performer” in Fox Factory’s Q2; Bike Biz Stabilizing
Marucci, acquired in November 2023, was a “standout performer” for Fox Factory Holding Corp. in the second quarter, Mike Dennison, Fox Factory’s CEO, said on an analyst call. Fox Factory’s bike business was down, but the category’s prolonged destocking phase has shown signs of nearing an end.
EXEC: Black Diamond Making Progress with Repositioning Despite Top-Line Weakness
Black Diamond’s sales again fell sharply in the second quarter but management of its parent, Clarus Corp., told analysts the brand is making progress rationalizing its product lines under a “fewer, bigger, better” emphasis and reducing promotional pressures amid the continued slow stabilization of the North American wholesale channel. Neil Fiske, president, Black Diamond Equipment, still cautioned that the overall outdoor marketplace won’t fully recover until 2025.
EXEC: Smith Parent Sees Shift in Brand Success and Challenges in Q2
Smith’s Q2 wholesale revenues of helmets were said to be hampered by lower re-orders of winter products due to a late start to the ski season and a bike business still partially overstocked at the point of sale.
EXEC: BOA and PrimaLoft Deliver Healthy Double-Digit Growth in Q2 for CODI
Citing the benefits of inventories rebalancing in the marketplace, Compass Diversified (CODI) reported BOA’s sales surged 42.1 percent in the second quarter while PrimaLoft returned to growth with a 14 percent gain. Said Elias Sabo, CODI’s CEO, on a call with analysts. “We believe both businesses are positioned for a strong back half of the year.”
EXEC: Rocky Brands’ Q2 Boosted by Strength at Durango and Xtratuf
Rocky Brands reported sales grew 6.1 percent in the second quarter adjusted for the divestiture of the Servus brand as double-digit gains at the Durango western boot brand and Xtratuf fishing boot brand offset weakness in its work and hunt categories as well as at Muck.
EXEC: Adidas CEO Sets N.A. Growth Focus on Being More American in America
Adidas Group reported underlying sales in North America increased 2 percent on a currency-neutral basis in Q2r and the region is expected to grow in the second half as well. CEO Bjørn Gulden said the focus has to be on being “more American in America” to further accelerate gains in the region.
Vista Outdoor Cancels CSG Deal Vote Again; Will Look at Other Options
Adjourned its shareholder vote on the sale of the Kinetic Group, its ammunition business, to the Czechoslovak Group (CSG) to pursue a more extensive review of “strategic alternatives,” including a sale of its Revelyst outdoor products business and selling the company outright to MNC Capital.
EXEC: Shimano Sees Continued Headwinds Drive H1 Sales and Profits Lower
The company said that demand for bicycles and fishing tackle continued to be weak and reported net sales decreased 17.6 percent year-over-year in the first half. Second quarter sales were down 15.2 percent.
EXEC: Investor Pressure Builds on Vista Outdoor Ahead of Ammo Sale Vote
Investor groups from the two sides of the vote scheduled for July 27 have been making their preferences known, and analysts and advisors have weighed in with their views. After rescheduling a vote three times, tomorrow is V-Day.
EXEC: Newell Outdoor & Rec Segment to See H2 Upside Under New CEO
The company’s Outdoor & Recreation segment remains the firm’s “weakest” division from a profitability and sales perspective and “most in need of a turnaround” and new leadership in the segment are now in place in Atlanta.
EXEC: Columbia Sportswear Sees Return to Wholesale Growth in Spring 2025
The home of the Columbia, Sorel, Mountain Hardwear and Prana brands reported that early indications from the spring ’25 Wholesale order book suggests a return to growth in the Wholesale business in the first half of ’25.
EXEC: Hoka DTC Drives Fiscal Q1 Growth; Dick’s and JD Sports Boost U.S. Wholesale
The brand saw accelerated DTC growth and continued strong wholesale gains helped drive a 29.7 percent jump in Hoka sales in fiscal Q1 ended June 30. Hoka’s parent company also called out the sales of the Sanuk business in July.
