Johnson Outdoors Posts Fiscal Q1 Sales Decreases Across the Board
Camping revenue declined 49 percent, with approximately half due to the sale of its Military and Commercial tents business in 2023 and Watercraft Recreation revenue declined 50 percent, reflecting continued significant reductions in overall market demand.
NRF Economist: Labor Market and Interest Rates Will Play Major Roles in 2024
After a better-than-expected performance in 2023, what happens with the economy in 2024 could depend on the labor market and what the Federal Reserve does with interest rates, according to NRF Chief Economist Jack Kleinhenz.
Vista Outdoor Cutting Roles, Closing Offices in Revelyst Transformation Process
The company will close offices in Petaluma, CA; Overland Park, KS; Eagle, CO; and Madison, MS. Revelyst is consolidating teams across core locations. The staff cuts and office closures will have an estimated $100 million of realized annual cost savings by fiscal year 2027.
EXEC: Columbia Cutting 3 to 5 Percent of U.S. HQ Staff on Lowered 2024 Outlook
Bright spots for 2023 included a 27 percent reduction in inventory that helped the company generate over $600 million in operating cash flows for the year, but a sick U.S. market for the Columbia brand and weaker Sorel and Prana performances continue to drag on the business.
Deckers Brands Again Firing on All Cylinders; Ugg Posts Billion Dollar Q3
Net sales increased 16.0 percent to $1.56 billion compared to $1.35 billion in the prior-year period. On a constant-currency basis, net sales increased 15.1 percent. Net sales are expected to be approximately $4.15 billion for 2024.
Columbia Sportswear Q4 Profit Falls 26 Percent; Guides Lower for 2024
Chairman and CEO Tim Boyle expects 2024 to be a challenging year as retailers place orders cautiously, and economic and geopolitical uncertainty remains high.
Decker Brands Names New CEO Designate as Powers Plans Retirement
Dave Powers has decided to retire as president and CEO, effective August 1, 2024. Stefano Caroti, the company’s chief commercial officer, will be appointed president and CEO, effective upon Powers’ retirement.
EXEC: Vista Outdoor Reaffirms Guidance; Work Toward Split Continues
CFO Andy Keegan said the company expects the separation of its business to jump-start the “compelling vision” for Revelyst, the former Outdoor Products segment, by capitalizing its balance sheet with cash to accelerate its capital allocation strategy.
Watchtower Firearms Appoints Chief Growth Officer
Jordan Davis as chief growth officer to help manage and drive the company’s growth initiatives. He has previously serve in senior leadership roles at Volcom, Inc., O. Mustard, and Remington Outdoor.
Star Rods Celebrates 65th Anniversary
Global outdoor brand teams up with Cape Fear Distillery and Steve Goione to launch an inaugural pairing of USA-made inshore fishing rods and American-crafted spirits.
Boot Barn Holdings Sees Comps Down and Profits Up in Fiscal Q3 Period
The 9.7 percent decrease in consolidated same-store sales is said to be comprised of a decrease in retail store same-store sales of 9.4 percent and a decrease in e-commerce same-store sales of 11.5 percent.
Outtech Sales Services Adds Regional Manager
Cameron Barto joins the company as a regional manager for the company’s independent channel, working with retailers in West Virginia, Maryland, Delaware, New Jersey, and Northern VA.
Walmart U.S. Now Sees 150 New Stores Over Next Five Years
The retailer is also finalizing construction plans on 12 new projects it intends to start this year, along with converting one of its smaller locations to a Walmart Supercenter.
Yeti Holdings to Acquire Mystery Ranch
Mystery Ranch and its employees will continue to operate out of Bozeman, MT and work with Yeti over the next several months to integrate the teams and functions.
McKinsey and WFSGI See Upbeat Execs in Sporting Goods 2024 Report
After a mixed 2023, sporting goods companies continue to face macroeconomic headwinds, winner-takes-all competition, and rising levels of physical inactivity around the world. Still, many executives say they are more optimistic than at any time over the past few years.
