EXEC: Kamik CEO Talks 125 Years of Fighting Bad Weather
The Montreal-based boot maker is celebrating its 125th anniversary of protecting feet from wet, chilly, slushy, and icy conditions. CEO Gillian Meek talked with SGB Executive about the company’s roots, the benefits of Canadian manufacturing, the brand’s strength in kid’s boots, and more.
EXEC: YTD Footwear Shipments Fall Nearly 25 Percent at Yue Yuen
Year-to-date revenue attributable to footwear manufacturing activity, including athletic/outdoor shoes, casual shoes and sports sandals, decreased by 20.4 percent to US$3.50 billion as average selling prices rose in mid single digits.
Michigan Consumer Sentiment Falls to Six-Month Low
Consumer sentiment fell for the fourth month, according to a preliminary report published for the Michigan Consumer Sentiment Index. The Index came in at 60.4, down 3.4 points, or 5.3 percent, from the October final.
Garmont Names New CEO
Italian outdoor footwear brand Garmont International hired Andrea Nalesso as CEO. Nalesso takes over from Pierangelo Bressan, who remains chairman of the board and a Garmont shareholder.
Traeger’s Q3 Sales Climb 26 Percent
Traeger, Inc. slightly raised its guidance for 2023 as sales grew 26 percent in the third quarter ended September 30, led by a 45 percent jump in grills. The company attributed the improvement to more normalized replenishment rates following its inventory destocking efforts.
EXEC: Inside Wolverine’s Plan for the Future—and the New Realities of 2023
New CEO Chris Hufnagel said WWW continues to reshape its portfolio, reduce inventory and redesign the company to become consumer-obsessed brand builders, focused squarely on building compelling products and telling amazing stories.
GunBroker.com Parent Sees Fiscal Q2 Sales Slide 29 Percent
Ammo, Inc., the owner of GunBroker.com and the ammunition and components producer, reported a net loss in the fiscal second quarter as sales dropped 28.8 percent.
InfiRay Outdoor Opens New U.S. Headquarters
iRayUSA, the U.S. distributor of InfiRay Outdoor thermal optics, opened the company’s new headquarters in Lewisville, TX.
Zanders Sporting Goods Hires Sales Manager
Zanders Sporting Goods, a national distributor in the hunt and fish channel located in Sparta, IL, hired Jeff Krieg as sales manager following the promotions of Danny Siegler to president and COO and Lucas Poston to director of procurement.
CTC Sees Helly Hansen Sales Up Big in Q3; SportChek Q3 Comps Down
Parent company Canadian Tire reported SportChek’s Q3 comparable sales were down 7.4 percent as strong growth in team sports was offset by weakness in more discretionary categories. Helly Hansen revenue was up 28.2 percent in Q3.
Wolverine World Wide Accelerates Transformation Plan as Q3 Plummets
The acceleration of the initiatives comes as the company reported dismal third quarter results that reflected an ongoing business that was down in strong double digits across most of the enterprise.
Yeti Lifts EPS Outlook on Strong Margins and Drinkware Strength
Yeti Holdings, Inc. raised its EPS guidance for the year after seeing margins in the second quarter top expectations, expanding over 600 Basis Points. Q2 Sales were flat as a 6 percent gain in drinkware sales offset a recall-related decline in cooler sales.
EXEC: Under Armour Can’t Dodge North American Turbulence
Under Armour reported sales and earnings in the fiscal second quarter ended September 30 topped analyst targets, but annual sales guidance was reduced due to further deterioration in the North American wholesale business. CEO Stephanie Linnartz told analysts, “Several forces are at play here, including inflation and consumer confidence, normalizing inventory levels amid still broad promotions, and overall softness in our future wholesale order book.”
Outdoor Market Alliance To Host Third Fall Denver Market Week
A collective of 25 independent sales and marketing agencies representing over 175 outdoor and active lifestyle brands, OMA will host its third fall market week series from November 13-17 and November 27 through December 2.
NRF Economist: Holiday Sales Will Have a ‘Whole New Set of Dynamics’
NRF Chief Economist Jack Kleinhenz said job gains have “slowed but not tumbled,” with payrolls climbing by 150,000 positions in October and the three-month moving average at 204,000 despite downward revisions for August and September.
