SGB Update Outdoor
Yeti Posts Fourth-Quarter Loss On Massive Recall Charges
Yeti reported a loss in the fourth quarter as it absorbed $128.9 million in write-offs related to the recall of several magnet-lined products. Sales were up 1 percent in the fourth quarter but would have risen 10 percent, excluding the recalled products. Yeti also warned that 2023 profitability and sales would be impacted by the recall, with growth planned at 3-to-5 percent.
BikeExchange Partners With Blaupunkt E-Bikes For DTC Sales
Electronics brand Blaupunkt signed an exclusive agreement with BikeExchange naming them the DTC sales outlet for its foldable e-bikes in North America.
Wiley X Hires New CEO, CFO And SVP Sales
Protective eyewear brand Wiley X announced changes to its senior leadership structure. Co-Owners and brothers Myles, Jr. and Dan Freeman will retain senior leadership positions, with Dan Freeman stepping into the role of company CEO.
Dick’s SG To Acquire Moosejaw From Walmart
Dick’s Sporting Goods agreed to acquire outdoor retailer Moosejaw from Walmart.
Janji And Oiselle Brands To Merge
Janji, a Boston-based running apparel brand, and Oiselle, a Seattle-based women’s athletic apparel company, have entered into a collaborative partnership through a merger facilitated by Digsbury Ventures.
Garmin Q4 Revenues Decline 6 Percent On Sharp Decrease In Fitness, Aviation
Garmin Ltd. posted consolidated revenue of $1.31 billion in the fourth quarter ended December 31, a 6 percent decrease compared to the prior-year quarter.
Wolverine Worldwide Forecasts Low-Single-Digit Growth For 2023
Wolverine Worldwide’s fourth-quarter sales grew 8.4 percent as strong double-digit growth at Merrell and Saucony offset a steep decline at Sperry. Overall results were in line with recently-updated guidance. Guidance for the current year calls for margin pressures to continue in the first half of the year to further reduce inventories and low-single-digit growth on a currency-neutral basis for the overall year.
Sympatex Names Chief Sales And Marketing Officer
Sympatex Technologies, a manufacturer of membranes, laminates and textiles used in outdoor apparel and footwear, promoted Kim Scholze to chief sales and marketing officer and its board.
Fox Factory Acquires Custom Wheel House
Fox Factory Holding Corp. agreed to acquire Custom Wheel House, LLC (CWH) from Thompson Street Capital Partners and other sellers for $131.6 million.
Camping World Sees Q4 Revenue Fall On Softening Demand, Tighter Margins
Camping World Holdings, Inc. saw revenue decrease 7.1 percent to $1.3 billion in the fourth quarter ended December 31, with used vehicle revenue declining 4.8 percent to $392.6 million and new vehicle revenue falling 13.1 percent.
Akers Digital Adds Two New Hires To Team
Akers Digital agency hired Bethany Donovan and Luke Paulson to expand its digital advertising, email marketing and Shopify services and better serve its clients in the cycling, snowsports, active apparel, and outdoor industries.
REI Updates Product Standards For Vendors
REI Co-op released its updated Product Impact Standards report to advance more sustainable and inclusive business practices. The latest version builds on three key areas: fighting climate change, advancing inclusion in the outdoors and managing chemicals.
Tractor Supply Improves Ranking On Forbes Best Employers List
Tractor Supply Company has been named to the Forbes list of America’s Best Large Employers. The company’s ranking improved to the 177 spot in the 2023 report from the 329 spot in 2022.
GSI Outdoors Makes Two Key Hires
GSI Outdoors hired Justin Walford as EVP to GSI Outdoors and Pelican International and Tyler Botts as brand marketing manager to GSI.
Walmart U.S. Posts 8.3 Percent Q4 Comp Store Sales Growth
Walmart U.S. comp sales grew 8.3 percent for Q4 and 13.9 percent on a two-year stack. E-commerce growth was 17 percent and 18 percent on a two-year stack.
