Deloitte Sees 2023 Holiday Spending Returning to Pre-Pandemic Levels
Deloitte is forecasting that holiday spending this year will surpass pre-pandemic levels for the first time. Consumers surveyed for the report plan to spend an average of $1,652 during the shopping season—a 14 percent year-over-year increase, though a modest four-year CAGR of 2.5 percent reflecting a normalization of trends.
EXEC: Vista Outdoor’s Guidance Cut Surprises Wall Street
Analysts said Vista Outdoor’s agreement to sell its Sporting Products segment business to Czechoslovak Group (CSG) for $1.91 billion appeared largely in line with the businesses’ valuation. Vista’s 24 percent stock drop on Monday was attributed to Vista’s sharp guidance cut tied to the deteriorating Outdoor Products business.
Kane Footwear x Honey Stinger Collaborate on Recovery Slip-On
Kane Footwear and Honey Stinger collaborate on limited-edition shoe to promote recovery.
Sea to Summit Appoints Board Chair
The global adventure equipment brand headquartered in Perth, Western Australia appointed former Nestlé SVP Wayne England as the new chair of the company’s board of directors.
Cocona Labs Joins The Conservation Alliance
Cocona Labs reported it joined The Conservation Alliance, with its member dues “directly supporting grassroots conservation efforts and advocating for protected areas.”
Rumpl Names Yeti Strategy Vet as New VP, Global Brand Marketing
Rumpl hired brand and marketing professional Josh Weichhand as VP of global brand marketing, leading marketing, strategy, e-commerce, creative, and international efforts.
Play It Again Sports Parent Posts Q3 Earnings Growth
Winmark Corp., the parent of Play It Again Sports, reported earnings improved 7.5 percent in the third quarter ended September 30, to $11.1 million, or $3.05 a share, from $10.4 million, or $2.93, a year ago.
Wild Rye Taps Method Outdoor Collective to Lead Sales
Outdoor lifestyle apparel brand Wild Rye hired Method Outdoor Collective, a sales agency based in Burlington, VT. Its Founder, Sasha Dietschi-Cooper, will reportedly serve as a fractional VP of sales for the brand.
Mountain Hardwear Adds New Midwest Independent Sales Group
Parallel 45 Sales reportedly specializes in connecting brands and people to “build the communities of those who enjoy spending time in the outdoors, aligning with Mountain Hardwear’s commitment to make better outdoor gear and get more people outside using it.”
Retail Sales Grew 3.8 Percent in September; Sporting Goods Trailing Market
The U.S. Census Bureau said overall retail sales in September were up 0.7 percent from August and up 3.8 percent year-over-year. The National Retail Federation (NRF) said the gains have moderated as consumers face continued pressures from the slowed economy.
Winnebago Sales Decline Accelerates in Summer Quarter; Profits Nearly Halved
Revenues fell 34.6 percent to $771.0 million for the Fiscal 2023 fourth quarter ended August 26. Fiscal 2023 fourth quarter net income was $43.8 million, a decrease of 47.0 percent. Full year revenues were down $1.5 billion to $3.5 billion, a decline of 29.6 percent.
Outerknown to Open Four Stores
Outerknown, the sustainable clothing brand, co-founded by pro surfer Kelly Slater, reported plans to open four brick-and-mortar retail stores, bringing the total operating store count to nine, with one store slated to open in Spring 2024.
Hest Introduces Down Comforter to Elevate Camping Comfort
Hest, a designer of outdoor sleep products, introduced a Down Comforter that pairs with the brands mattresses or works on its own. The company also launched in bedding products.
VF Corp.’s Shares Jump on Activist Investor’s Move
Shares of VF Corp. jumped 14 percent on Tuesday after activist investor Engaged Capital reported that it had built a stake in the owner of Vans and The North Face and planned to push for changes, including steep cost cuts, divestitures of non-core assets and a board overhaul.
EXEC: Inside the Six-Year Growth Plan for Osprey, Hydro Flask Parent
At its Investor Day on Tuesday, Helen of Troy, the parent of Hydro Flask and Osprey, outlined an “Elevate for Growth” platform designed to annually expand sales between 3 percent and 4 percent and EPS by 10 percent or greater over the next six years.
