SGB Update Outdoor
Wolverine World Wide, Inc. Cuts 2023 Outlook After Disappointing Q2 Results
Revenue for Q2 declined 17.3 percent in constant-currency terms to $589.1 million, compared to $713.6 million in the year-ago quarter. Revenue from the ongoing business was $578.2 million, declining 13.8 percent on a constant-currency basis.
Wolverine Worldwide Appoints New CEO as Brendan Hoffman Departs
The Board of Directors appointed Chris Hufnagel as president and CEO of the company and a member of the Board of Directors, effective immediately. He succeeds Brendan L. Hoffman, who is no longer with the company
ThredUp Inc. Narrows Q2 Loss on Revenue Increase, RaaS Ramp-Up
The company reported 1.7 million Active Buyers and Orders of 1.8 million in the second quarter, representing a decrease of 0.8 percent and an increase of 5 percent, respectively, year-over-year.
Cordura Brand Appoints European Business Development Manager
Invista’s Cordura brand hired Ruud Vermeij as European business development manager for the Cordura brand, responsible for developing and executing the commercial strategy for growing its consumer business in Europe.
Topgolf Callaway Gets Double-Digit Q2 Lift from Topgolf; Callaway Flat
The revenue increase was said to be driven by strong 16.6 percent growth at Topgolf, including approximately 1 percent same-venue sales growth.The result came despite an $8.0 million negative impact from FX rate variances.
Allbirds Posts Q2 Loss on 10 Percent Sales Drop
Allbirds, Inc. reported a loss on a 10 percent sales decline in the second quarter but said it had made progress in its turnaround program focused on reducing inventory levels, lowering operating cash use and controlling expenses.
Johnson Outdoors Hires Industry Vet to Run Fishing Business
The company hired Bill Kirchner as group vice president, Fishing segment, reporting to CEO Helen Johnson-Leipold and was appointed as a member of the company’s executive committee.
JD Sports Acquires Balance of Shares in Poland-Based Sports Retailer
JD exercised its rights under a call option to acquire the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) to become MIG’s 100 percent sole owner.
Report: Small Businesses Report Significant Hiring Decline in July
The CBIZ Small Business Employment Index (SBEI) reported a seasonally adjusted decrease of 2.1 percent in July. This month’s reading is a dramatic reversal from the strong hiring reported in June.
Report: Younger Pandemic Boat Buyers Upgrading Vessels
The demand for boats reportedly remained strong during the first half of 2023 as inventory levels continued to recover from the buying surge during the pandemic, according to the latest market report from Boats Group.
Under Armour Limits Fiscal Q1 Downside with Strong International Growth
Total net revenue was down 2.4 percent (-1.3 percent currency-neutral) year-over-year to $1.32 billion in the fiscal first quarter ended June 30. Wholesale revenues declined 6.3 percent while DTC increased 4.5 percent.
Lazydays RV Completes Acquisition of Century RV
The location was renamed “Lazydays RV of Denver at Longmont.” The company forecasted that it would generate approximately $50 million in annualized revenue.
NRF Sees Cargo Volume Hitting Yearly Peak in August
Import cargo volume at the nation’s major container ports is forecasted to hit its highest level in nearly a year in August as retailers stock up for the winter holidays, according to Global Port Tracker’s report released by the National Retail Federation.
KOA Reports Small Revenue Gain in First Half
Kampgrounds of America, Inc. reported continued growth, sharing that revenue had improved by 2 percent year-over-year. Following years of record-breaking same-store revenue, KOA forecasted more positive change, with advanced deposits up 9.5 percent over 2022.
Clarus Lowers Outlook as Q2 Sales Decline 27 Percent
Clarus Corp. trimmed its outlook for the year after reporting second-quarter results fell below analyst expectations due to promotional pressure and prolonged inventory de-stocking. Sales were down 27 percent, sliding 24 percent at Black Diamond, 27 percent at the Sierra/Barnes ammunition segment and 34 percent at its Adventure segment (Rhino-Rack, Maxtrax).
