SGB Executive

Garmin Ltd. reported sales and earnings were down in the second quarter ended June 27 but both came in well ahead of Wall Street’s targets due to a stellar performance from the Fitness segment as well as solid performances from Garmin’s Outdoor and Marine segments.

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.”

Rocky Brands Inc.’s sales were slightly down and adjusted earnings flat year-over-year in the second quarter despite COVID-19’s impact, handily topping Wall Street’s targets. On a conference call with analysts, Jason Brooks, president and CEO, said, “Despite being up against the most difficult operating conditions we have ever experienced, our business exhibited increasing strength as the quarter progressed.”

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.

In court papers, Ken D’Arcy, Remington Outdoors’ CEO, said the firearm’s giant’s second bankruptcy in two years was partly due to elevated inventory levels and a wide range of brands that extended the company beyond its “core focus” coming out of its first bankruptcy. He added, “Most importantly, the unfavorable business trends continued after exit from the prior cases.”

It’s a return to paddlesports for Jackson Adventures’ new VP of sales Brad Taylor, who brings 25 years of experience in the paddling world to the brand. SGB Executive caught up with Taylor for his take on Jackson, the paddlesports market and all things COVID-19 and kayak.

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.

By Eugene Buchanan With COVID-19 fanning people’s desire to get outdoors close to home, sales are anything but cooling off in the portable cooler category. The segment is, well, on fire, and expected to snowball over the next four years (some analysts predict growth in the billions). To catch up on the craze, SGB Executive […]

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.

The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of July 13, 2020 covered in the SGB Updates — delivered to your inbox every business day.

Skechers Inc. reported a significant loss in the second quarter as store closures due to COVID-19 fed a sharp sales decline. However, both the loss and sales levels were better than analysts expected. Skechers officials also noted that China has returned to growth, and domestic comps were only down single digits in June.

On day two of Outdoor Retailer’s (OR) Online trade show, climate change took center stage at the virtual OIA Industry Lunch: Thriving Planet Emission Reductions or Policy Revisions: Which Is The Outdoor Industry’s Best Opportunity For Climate Impact?

The passage of the Great American Outdoors Act was praised by a wide array of outdoor advocates across the hunt, camp, hike, and fish spaces. The bill, expected to be quickly signed into law by President Donald Trump, promises to address scores of long-neglected maintenance projects at Yellowstone, the Grand Canyon and hundreds of other national parks across the country.

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.

Bucking the “grass is always greener” assessments from retail doomsayers, those are the take-homes from an SGB Executive’s call with the Grassroots Outdoor Alliance, a national trade association recently reporting its largest one-month growth in membership in its history.