SGB Executive

With 107 retail outlets and an outdoor product mix as diverse as its store locations, publicly-traded Sportsman’s Warehouse has weathered COVID-19 better than perhaps any other major outdoor retailer (its second-quarter report heralded a five-fold growth in earnings and sales up 79.9 percent). SGB Executive caught up with CEO Jon Barker to shed light on its success during the pandemic.

At the International Health, Racquet & Sportsclub Association’s (IHRSA) Innovation Summit held virtually last week, the theme was “Reimagine. Reinvigorate. Rebuild.” The loudest call, however, was the elevated messaging around both the safety and the health benefits of fitness clubs and letting members know that it’s safe to return to their favorite gym.

Snowsports Industries America (SIA) recently released the results of a first-of-its-kind survey on the impact COVID-19 has had on skier and riders’ spending, shopping, planning, and shredding habits for the upcoming winter season.

The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of September 14, 2020 covered in the SGB Updates — delivered to your inbox every business day.

Underscoring its commitment to expanding athleisure assortments, DSW has partnered with Reebok to sell apparel for the first time. A collection was introduced Thursday on its website DSW.com.

“One of the silver linings of this coronavirus is people do really want to get outside and recreate,” Vista Outdoor’s CEO Christopher Metz said at C.L. King’s 18th Annual Best Ideas Conference.

John Donahoe, Nike’s CEO, recently talked with PayPal’s CEO, Dan Schulman, about leadership and purpose-driven business in PayPal’s “Never Stand Still” online leadership discussion series. The two also discussed navigating each company through  COVID-19 and against racism within each CEO’s respective business.

Earlier this summer, California-based watch and accessory brand Nixon promoted Nancy Dynan to president replacing outgoing CEO Scott Kerslake. SGB Executive caught up with her in Nixon’s Encinitas, CA, headquarters to talk all things timepieces.

Mountain Equipment Co-op (MEC), Canada’s largest outdoor chain, will end its 49 years as a co-operative with a sale to Kingswood Capital Management, a Los Angeles-based private investment firm. The sale is designed to help stabilize the struggling business.

Town Sports International LLC, the parent of New York Sports Clubs, Boston Sports Clubs, and numerous other gyms, on Monday, became the latest fitness chain to land in bankruptcy court due to the pandemic.Wrote Phillip Juhan, CFO of Town Sports, in an affidavit filed in Delaware’s bankruptcy court, “COVID-19 has hit the health club industry particularly hard.”

Zumiez, Inc. saw a 9.6 percent increase in fiscal second quarter year-over-year revenues despite a shift in government orders that restricted the number of stores that could be open during the period. Net income for the second quarter was $25.4 million or $1.01 per share, compared to net income of $9 million or 36 cents per share for Q2 2019.

Peloton Interactive marked its first quarterly profit as sales vaulted 172 percent in the fiscal fourth quarter ended June 30. The company also forecasted first-quarter and fiscal 2021 sales that far exceeded analysts’ expectations. John Foley, Pelton’s CEO, said on a conference call, “American consumers have said that they want fitness at home. It just hasn’t worked until now.”

Academy Sports’ IPO prospectus details the numerous steps Ken Hicks has put in place since taking over as CEO in May 2018 to drive steady improvement over the last few years and has now positioned the Texas-based chain for accelerated growth amid the pandemic. Hicks in a letter to shareholders in the prospectus, “We are at the beginning of an incredible journey and still have much to accomplish.”

Consumer events all over the country were canceled this year, but perhaps none created as big a blow among outdoor participants as the GoPro Mountain Games, held annually in Vail, CO.

At Goldman Sachs’ Annual Retailing Conference Wednesday morning, Ed Stack, chairman and CEO, said “some pull forward” helped drive the retailer’s whopping 20.7 percent comp gain in the second quarter. However, strong demand for many categories that have benefited from lifestyle changes amid the COVID-19 pandemic are expected to continue into 2021. Stack said, “We’re fortunate we’re in a great lane for what’s going on right now.”