Wolverine Worldwide Raises FY Outlook on Early Payback from Turnaround Efforts
Wolverine Worldwide reported earnings fell 21 percent in the second quarter as sales on an ongoing basis sunk 18 percent due to steep declines at Merrell and Saucony, but the company still raised its sales and earnings guidance for the year as its turnaround program is driving better-than-expected results.
EXEC: VF CEO Not Ready to Predict When Growth Returns
With July 17 marking his one-year anniversary, Bracken Darrell, VF Corp’s president and CEO, cited a number of accomplishments under his tenure, including significantly reducing debt, inventories and costs on the company’s first-quarter analyst call. The sales decline in the latest quarter also moderated versus the prior quarter, but Darrell declined to predict when growth would turn positive.
Solo Brands Lowers FY Guidance on Softening Demand
Solo Brands, Inc. reported results in the first half exceeded expectations, but the parent of Solo Stove reduced its full-year outlook due to deteriorating trends so far in the third quarter.
Stio to Open New Storefront in Steamboat Springs, Adds Key Leadership Roles
The storefront will open in late September, its eleventh retail location and second in Colorado. Stio recently hired Senior Director of Retail Kris Nelson and Natalie Oshin joined the company as merchandising director.
Traeger Narrows Q2 Net Loss as Margin Bump Partially Offsets Sales Declines
The net loss was $2.6 million, or 2 cents per diluted share, in the second quarter, compared to a net loss of $30.2 million, or 25 cents per diluted share in the second quarter of last year. GM rose 600 basis point year-over-year.
GoPro’s Q2 Sales Drop Double-Digits
GoPro, Inc. reported sales declined 23 percent in the second quarter ended June 30, to $186 million, although results exceeded guidance and subscribers saw growth.
EXEC: Vista Outdoor Sees Revelyst Turnaround Plan on Track
Eric Nyman, co-CEO of Vista and CEO of the Revelyst outdoor products business, insists Revelyst is on the road to recovery, forecasting sales trends will steadily improve and reaffirmed Vista’s target to double Revelyst’s standalone adjusted EBITDA in FY25.
Bogs Drags Down Parent’s Q2 as Outdoor Retailers Exhibit Caution
Bogs posted a 33 percent decline in wholesale sales in the second quarter tumbled, but the parent Weyco Group is forecasting sales for the outdoor footwear brand would stabilize in coming quarters.
The Running Event Leaving Austin in 2025 but Stays Close to Longtime Home
The Running Event (TRE) is moving to San Antonio, TX, for TRE 2025 in November 2025, and the change looks to be permanent.
Bogner’s CEO To Exit at Year’s Close, Bogner Family to Sell Shares
Bogner reported that CEO Gerrit Schneider had decided to leave the company at the end of 2024 in order to accept a position at another company. The Munich-based lifestyle and luxury sports fashion company also said Daniel Hiendlmeier has been appointed to the management board and the Bogner family has decided to sell shares in the firm to a strategic partner.
Vista Outdoor’s Fiscal Q1 EPS Dips as Outdoor Segment Sales Sink Mid Teens
Revelyst outdoor segment sales declined 13.6 percent year-over-year to $274 million in the fiscal first quarter, while the Ammo segment saw sales decrease 1.6 percent to $370 million for the fiscal first quarter ended June 30.
Rapha Appoints New CEO
Fran Millar will replace Francois Concervey, who has been with the company since 2015 as chief brand and marketing officer. Her background in the cycling industry includes roles with Team Sky and Team Ineos where she played a critical role in securing seven Tour de France victories.
EXEC: Johnson Outdoors to Double-Down on Cost-Cutting Amid Sales Struggles
Helen Johnson-Leipold, chairman and CEO, told analysts that “continued tough marketplace conditions significantly impacted Johnson Outdoor’s results through the quarter, with consumer demand for outdoor recreation products remaining depressed across all of the company’s categories through the peak season.”
Adidas’ Head of Global Operations to Exit
Martin Shankland plans to step down as head of global operations and leave the company after 27 years with the brand. Shankland is also an Executive Board member and will officially step down on August 10.
Dick’s SG to Close Remaining Moosejaw Stores
Moosejaw, acquired by Dick’s Sporting Goods in March 2023, will close its remaining three stores. Moosejaw’s company website was integrated into the Public Lands website, the outdoor arm of DKS.
