SGB Update Outdoor
BEA Report Confirms Strong Recovery For Outdoor Recreation Industry
Inflation-adjusted GDP for the outdoor recreation economy increased 18.9 percent in 2021, compared with a 5.9 percent increase for the overall U.S. economy, reflecting a rebound in outdoor recreation after the decrease of 21.6 percent in 2020, according to new analysis released by the U.S. Bureau of Economic Analysis (BEA).
Buck Knives Hires VP Of Sales
Buck Knives, Inc. said Mark Reasoner had joined the company as vice president of sales. Most recently, he was VP of sales at American Outdoor Brands.
Peak Ski Names Senior Director, Product Development And Innovation
Peak Ski Company announced that venerated big mountain skier Michelle Parker has joined the company’s leadership team as senior director of product development & innovation.
Yeti’s Sales Climb 20 Percent In Third Quarter
Yeti Holdings, Inc. reported earnings on an adjusted basis were down slightly in the third quarter ended October 1 but topped analyst targets. Sales growth of 20 percent, led by wholesale, also topped estimates and the company maintained and narrowed its outlook for the year.
Solo Brands’ Q3 Revenues Vault 47 Percent
Solo Brands Inc. shrunk its loss in the third quarter ended September 30 as sales jumped 47 percent. The parent of Solo Stove lowered its sales guidance for the year but kept its outlook for gross margin and EBITDA margin.
Pentland Brands Adds Chief Human Resources Officer
Pentland Brands hired Belinda Deery as chief human resources officer. Deery has held HR leadership roles within FTSE-listed, private equity and family-owned global companies, including Clarks, New Look, House of Fraser, and Debenhams.
Cocona Labs Hires Chief Operations Officer
Cocona Labs welcomed back Christopher Leyes as chief operations officer. Leyes returns to the company having worked as the director of operations at Pangea Organics.
Yakima’s Global Organization Structure To Accelerate Growth, Increase Collaboration
Yakima announced, effective immediately, that Ryan Martin, CEO of the Americas Region, had increased responsibilities to drive strategic direction and growth in Australasia (Australia, New Zealand, Pacific Islands) and EMEA (Europe, Middle East, Africa).
Leatt Corp. Sales Expand 5 Percent In Third Quarter
Protective gear brand Leatt Corp. reported earnings dipped 5 percent in the third quarter on September 30 although sales grew 5 percent.
Wolverine Cuts Outlook On Supply Chain Disruption, Heightened Promotions
Wolverine World Wide, Inc. saw strong double-digit gains at Merrell in the third quarter but overall sales and profitability came in below plan due to supply chain and promotional pressures. The company reduced its guidance for the year.
Recall: Thule Camber 2 Bike, Thule Camber 4 Bike, Thule Range 4 Bike
Thule recalled its Camber 2 bike (model #905800), Camber 4 bike, (model #905600) and Range 4 bike, (model #905700), in partnership with the National Highway Traffic Safety Administration (NHTSA) and Health Canada in an affected manufacturing date code range.
Imports Slow As Holiday Season Ramps Up
Imports at U.S. container ports continue to slow from the records set earlier in 2022, according to the monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates.
Correct Craft Acquires Indmar Marine Engines
Correct Craft acquired Indmar Marine Engines, the manufacturer of inboard marine engines.
Houdini Sportswear Opens Store In Kungsgatan, Sweden
Houdini Sportswear opened a store in Kungsgatan, Sweden. Electrolux, a long-time partner, installed a laundry service in the space to showcase its garment care. The space also has a kitchen for consumers to connect.
Kohl’s CEO Steps Down To Take President Role At Levi Strauss
Michelle Gass, CEO of Kohl’s, is stepping down early next month to become the president of Levi Strauss & Co. Levi’s said Gass would start work and join its Board on January 2. The Board began a succession plan for her to succeed Chip Bergh as president and CEO in the next 18 months.
