SGB Executive

Sweden’s Dometic Group AB, a maker of accessories for motorhomes, caravans and boats, said on Friday it had agreed to buy U.S. cooler giant Igloo Products Corp. for $677 million. Juan Vargues, Dometic’s CEO, said, “North America is the largest market for cooling boxes and outdoor products, and with Igloo’s strong brand recognition, consumer knowledge and local manufacturing capabilities, we are getting the necessary tools to further drive our sales and margin expansion.”

On Wednesday, On blew open the doors in its initial public offering (IPO) debut, with its shares vaulting 46 percent on the day. The funding is expected to support its next stage of growth. Here, co-CEO Marc Maurer discusses the benefits expected from the initial public offering, the brand’s commitment to run and its growth prospects.

The Big Gear Show, held August 3-5 in Deer Valley, UT, debuted this year as the industry’s first invitation-only, all-outside, multi-category trade event for the paddlesports, cycling, climbing, and camping markets. SGB Executive caught up with Haroutunian to see how the show went, how they managed COVID protocols, what’s up for the future and more.

The outdoor tradeshow industry is in the midst of one of its more memorable years as organizers implement pandemic protocols while staging their shows.

Speaking at CL King’s 19th Annual Best Ideas Conference, Vista Outdoor’s management expounded on the rationale behind the acquisition of golf simulator Foresight Sports and provided a bullish outlook on the growth potential in ammunition despite current inventory challenges.

With the pandemic leading to growth in participation in paddlesports, no category has seen more uptick than SUP sales, especially inflatables. But those in the business are also having to deal with production, distribution and pandemic-related supply and shipping delays at a cross-current with unprecedented demand.

In an interview with SGB Executive, Steve Lawrence, EVP and chief merchandising officer, Academy Sports + Outdoors, discussed the chain’s second-quarter performance marked by a comparable sales gain of 11.4 percent on top of a year-ago gain of 27.0 percent as well as management’s bullish outlook for the second half.

BTIG lowered its rating on Nike Inc. to “Neutral” from “Buy” on its belief that supply chain disruptions from the pandemic-driven factory shutdowns in Vietnam have worsened since the company last reported earnings on June 24.

Speaking at Goldman Sachs Global Retailing Conference, Lauren Hobart, president and CEO at Dick’s Sporting Goods, said the retailer has been able to grab market share over the past couple of years partly because of investments supporting omnichannel execution but also because key brand partners have been narrowing distribution and bringing more differentiated product to the retailer’s selling floors.

Zumiez Inc. was able to counter declines in skateboard sales and supply chain hurdles to deliver a revenue gain in the second quarter of 7.3 percent year-over-year and 17.6 percent compared with the second quarter of 2019. Rick Brooks, CEO, told analysts, “It’s been really good to see how the business responded. We’re maintaining our wallet share of our customers’ business.”

American Outdoor Brands celebrated another strong set of results for the fiscal first quarter ended July 31 as 16 of the company’s 20 brands delivered growth over the comparable quarter last year and 19 of its 20 brands delivered growth over the comp period two years ago in a pre-COVID world.

Academy Sports + Outdoors sharply raised its outlook for the year as it reported record sales and earnings in the second quarter and continues to see a healthy uptick in demand for active lifestyle pursuits that began with the pandemic’s emergence. Academy officials also indicated that the chain has been able to get back in stock in most categories, including fitness and bikes, despite extensive supply chain constraints.

Lululemon shares surged overnight after the vertical active lifestyle retailer posted another strong quarter and announced the company will surpass its 2023 revenue target by the end of 2021, two years ahead of schedule. The company said second-quarter results reflected broad-based strength across its channels, regions and product categories.

The Sports & Fitness Industry Association (SFIA) released its 2021 State of the Industry Report showing that despite COVID-restrictions, sporting goods sales overall were able to recover to post a small, but positive, growth rate in 2020.

Apres and skiing and riding go hand-in-hand. A growing number of craft ski and distillery brands are taking advantage of that connection by partnering on everything from products to educational programs to increase brand awareness among consumers.