REI Again Closing for Two Days for Thanksgiving Holiday
The co-op said it will be paying its 16,000 employees to spend the day outside the day after Thanksgiving, while calling on the broader community to join and help others to do the same.
Johnson Outdoors to Discontinue its Eureka! Business
Johnson Outdoors, Inc. announced that it is exiting its Eureka product lines. The products will remain available for sale as it winds down operations, with plans to fulfill all customer requirements through the end of 2024.
Vista Outdoor Announces CFO for Outdoor Products Business
Vista Outdoor, Inc. announced that Andy Keegan, vice president and interim chief financial officer of Vista Outdoor, was promoted to CFO of Revelyst following Vista Outdoor’s planned separation of its Outdoor Products segment into a standalone public company.
Costco’s Longtime CEO to Step Down at End of Year
Costco Wholesale Corp. said Craig Jelinek, CEO since 2012, plans to step down, effective January 1, 2024. Ron Vachris, president and COO since February 2022, will succeed Jelinek as president and CEO.
Heiq Appoints New GM for Heiq China
UK-based textile and materials manufacturer Heiq hired Robert Liu as general manager of Heiq China, leading its business operations.
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.
