Malibu Boats Posts Sequential Improvements in Revenues and Margins in Tough Q1
The financial performance this quarter reportedly reflects sequential improvements across revenues and margins as the company scaled back promotional activity and continued showcasing operating efficiencies
DPS and Phantom Glide Hires Head of Strategic Product Development
Since its invention over seven years ago, World Cup Nordic Combined champion Billy Demong has been an active Phantom Glide tester. He joins recently hired Ted Ligety as part of the design, development and business strategy team.
Nike, Inc. Shifts Senior Team Roles in Sports Marketing, Legal and Supply Chain
The company and new CEO Elliott Hill continue to make changes in its Senior Leadership Team (SLT), as it moves to position the company for renewed growth and brand energy.
BOA and Primaloft Lead Compass Diversified’s Q3 Active Brands Gains
Compass Diversified Inc. (CODI) reported sales grew 22.3 percent at BOA and 25.2 percent at PrimaLoft to lead the gains among its active lifestyle brands.
EXEC: Columbia Sportswear CEO Lays Out Brand’s “Accelerate” Growth Program
The company said the decline in net sales reflects lower Fall ’24 wholesale orders, as well as weak consumer demand in the U.S. partially attributable to warm weather and outdoor category headwinds. Mountain Hardwear was the only brand in positive territory.
EXEC: Sebago, K-Way Parent BasicNet Relies on Europe for Growth in YTD Period
Europe (+7.3 percent) accounts for ~76.5 percent of aggregate sales while declines were seen in Americas (-30.9 percent), Asia and Oceania (-24.7 percent), and Middle East and Africa (-5.4 percent).
Rocky Brands’ Q3 Profits Slide on 8.8 Percent Sales Decline
The sales decline reflects a 15.7 drop in wholesale revenues due to softness in work, outdoor and commercial military categories. Jason Brooks, CEO, said, “While cautious consumer spending outside of peak shopping periods and warm, dry weather acted as headwinds this quarter, the underlying strength of our business remains intact.”
Consumer Confidence Bounces Back In October
The Conference Board reported that its Consumer Confidence Index jumped to 108.7 in October from 99.2 in September—the biggest monthly gain since March 2021. Analysts had forecast a more modest reading of 99.3.
EXEC: VF Corp. Sets Medium-Term Targets at Investor Day
At VF’s Investor Day, “Reinvent to Grow,” company President Bracken Darrell highlighted six areas that the company is focused on at the enterprise level to build a competitive advantage and revive profitability and growth.
Newell Brands Announces Upsized Debt Offering
Newell Brands announced the launch and pricing of an upsized public offering of $750 million aggregate principal amount of 6.375 percent notes due 2030 and $500 million aggregate principal amount of 6.625 percent notes due 2032.
Enduro Bearings Hires Sales & Marketing Director for the Americas
Alex Wassmann is an industry veteran in the cycling space, having held key roles in product development, technical support, marketing, and strategic global partnership development at Giant Group and Sram.
Hilco Global and TPG Angelo Gordon Partner with Bluestar Alliance on JV
Hilco Global and TPG Angelo Gordon announced the formation of a new joint venture that will identify, acquire and finance consumer brands and IPs in partnership with Bluestar Alliance, LLC, the parent of Hurley, Justice, Scotch & Soda, and other consumer brands.
Garmin Ltd. Ups Guidance on Strong Double-Digit Q3 Growth in Fitness, Outdoor and Marine
Garmin adjusted its full year guidance and now anticipates revenue of approximately $6.12 billion and pro forma EPS of $6.85 based on gross margin of 58.5 percent, operating margin of 24.0 percent and a full year effective tax rate of 16.5 percent.
Outdoor Retailer Parent Trims Full-Year Guidance
Emerald Holding, Inc. slightly reduced its outlook from steps taken to discontinue some of its smaller events. The operator of Outdoor Retailer, Surf Expo, Sports Licensing & Tailgate Show, and other venues also reported improved underlying earnings in the third quarter on flat sales.
Pyrenex Appoints Alan Daniel as Commercial Director
Daniel comes to the luxury outerwear manufacturer with over 20 years of outdoor industry experience having worked for Rossignol, Rip Curl and Salomon.
