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.
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.
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.
Under Armour’s Chief Consumer Officer to Exit
According to an SEC filing on Tuesday, August 6, Under Armour’s Chief Consumer Officer, Jim Dausch, will leave the company at the end of August “to pursue other opportunities.”
Under Armour Acquires Unless; Taps Eric Liedtke as Brand Strategy Chief
The appointment of Adidas brand veteran Eric Liedtke as EVP of brand strategy follows the completion of UA’s acquisition of Unless Collective, Inc, a zero-plastic regenerative fashion brand. The transaction is expected to be completed later this week.
NSSF: Adjusted NICS Background Checks Increase 4.0 Percent in July
The 4.0 percent increase in July figure was the first year-over-year monthly increase since December 2023 and marked 60 straight months, or five years, of one million-plus monthly NICS checks.
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.
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.”
U.S. Manufacturing Sector Contracted in July for Fourth Consecutive Month
The ISM is reporting that economic activity in the manufacturing sector contracted in July for the fourth consecutive month and the 20th time in the last 21 months.
Johnson Outdoors Sees Fiscal Q3 EPS Fall Nearly 90 Percent Year-over-Year
The company reported that challenging marketplace conditions, primarily due to lower consumer demand for outdoor recreation products and heavy promotional activity, impacted performance.
KGM Technologies Appoints Founder as New President
Founder Kyle Grob was appointed president. Grob has served as chief technology officer for the past six years. Jeff Andrews, company chairman, was promoted to executive vice president, assisting in the day-to-day operations of the growing company.
EXEC: Jobs Report Sends Markets Lower on Concerns Over U.S. Economy
The U.S. economy only added 114,000 non-farm payroll jobs in July, fewer than the 175,000 expected by economists. The unemployment rate rose to 4.3 percent — its highest level since October 2021.
Colt CZ Appoints Board Member
Musil is the CEO of Sellier & Bellot, a.s., a firearms ammunition manufacturer based in Vlašim, Czech Republic, and a subsidiary of Colt CZ. Musil has worked for the company since 1999. Previously, he worked for the Czech company Ton.
EXEC: Black Diamond Making Progress with Repositioning Despite Top-Line Weakness
Black Diamond’s sales again fell sharply in the second quarter but management of its parent, Clarus Corp., told analysts the brand is making progress rationalizing its product lines under a “fewer, bigger, better” emphasis and reducing promotional pressures amid the continued slow stabilization of the North American wholesale channel. Neil Fiske, president, Black Diamond Equipment, still cautioned that the overall outdoor marketplace won’t fully recover until 2025.
Sportsman’s Warehouse Secures $45 Million Term Loan
With the addition of the $45 million term loan, the company’s total borrowing capacity, which includes its revolving credit facility, is now $395 million.
