SGB Outdoor

EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown

Johnson Outdoors’ overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, “We’re seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years.”

Newell Brands Debt Ratings Downgraded

S&P Global Ratings lowered its debt ratings on Newell Brands, Inc. due to its expectations that the company’s debt leverage would remain higher for longer after a weak first half of 2023 and finish the year at well over 5.5x.

REI Co-op to Open Store in Beaverton, OR

REI Co-op reported it plans to open a store in Beaverton, OR in spring 2024. As the anchor tenant at Walker Center, the store’s footprint will be 39,512 square feet at 2780 SW Cedar Hills Boulevard.

Delta Apparel Logs Q3 Loss As Sales Decline Double-Digits

Delta Apparel Inc. posted a loss in the fiscal third quarter ended July 1 due to efforts to reduce production levels to rebalance inventories in the marketplace as well as from inflationary pressures on cotton. Delta said the inventory and inflationary pressures are receding.

EXEC: Adidas Sees North America Struggles Continue

Adidas’ second quarter results included several encouraging signs, including securing an incremental profit of €150 million ($164 mm) from the first drop of leftover Yeezy, significantly improved margins due to better sell-throughs and less discounting, and a return to double-digit growth in China. However, the laggard continues to be North America, where sales on a currency-neutral basis tumbled 16.4 percent in the period.