SGB Update Outdoor

VF’s Debt Ratings Downgraded By S&P

S&P Global Ratings lowered its debt ratings on VF Corp. as the company’s credit metrics are expected to remain pressured with leverage above 3x in fiscal 2023 due to elevated debt levels.  The downgrade follows a similar move by Moody’s in mid-October.

Vittoria Group Hires Managing Director For North America

Vittoria Group, the Italian bicycle tire manufacturer, hired Karim Pine as managing director for North America. Pine succeeds Glenn Lee, who now heads up its newly formed global accessories business unit, North America.

REI Names VP, Financial Planning And Analysis

REI Co-op hired Patrick Fell as vice president, financial planning and analysis, effective November 7. Most recently, he was vice president of finance at StockX.

ESPN Sells Majority Interest In X Games

ESPN sold its majority stake in the X and Winter X Games to MSP Sports Capital, a sports-focused private equity firm that has stakes in McLaren Racing and some European soccer teams. 

Outdoor Edge Cutlery Grows Sales Team

Outdoor Edge Cutlery hired Marty Owens as vice president of sales, East. The manufacturer of knives, blades and hand tools also hired manufacturer’s rep groups—Odle Sales Agency (Midwest), Wild West Marketing (West), Murski Breeding Sales (Southeast), and JKS Unlimited (Northeast).

Newell Brands’ Outdoor Segment’s Q3 Sales Slump 26 Percent

Newell Brands reported sales in its Outdoor & Recreation segment fell 26.1 percent in the third quarter ended September 30. The decrease reflects a core sales decline of 18.4 percent, as well as the impact of exits from certain low-margin categories and unfavorable foreign exchange.

Thule’s Q3 Sales Drop 23 Percent

Thule reported a sharp decline in earnings on a 23 percent revenue decline in the third quarter due to weakness in the bike channel.

Vail Resorts’ Debt Ratings Upgraded

Moody’s Investors Service upgraded Vail Resorts, Inc.’s debt ratings to reflect its expectation for solid operating performance over the next year following strength in its 2021/22 ski season, demonstrating consumer demand and good operating execution.

Camber Outdoors Names Chief Of Staff

Camber Outdoors hired Mindy Silva as chief of staff, effective immediately. In this newly created position, Silva will act as a strategic thought partner and advisor to Camber’s CEO, Tiffany Smith.

Deckers Brands’ Q2 Again Driven By Hoka’s Outperformance

Deckers Brands reported earnings and sales both exceeded analyst targets in the second quarter ended September 30 and maintained its outlook for sales and EPS for the fiscal year despite margin pressures. Sales of Hoka surged 58.3 percent year over year in the quarter while sales of Ugg gained 6.3 percent.

Free Fly Apparel Hires Sales Director

Free Fly Apparel, the manufacturer of performance apparel made from bamboo, hired Justin Julian as sales director overseeing the company’s national wholesale business, managing its independent reps and growing the brand in the Western region working with key accounts.

Columbia Sportswear Q3 EPS Tops Wall Street’s Targets

Columbia Sportswear reported earnings surpassed Wall Street’s consensus target in the third quarter ending September 30 as sales grew 22 percent on a constant-currency basis. The company slightly lowered its operating earnings outlook for the year due to margin pressures but maintained its sales guidance.

Vertical Brands Names COO

Vertical Brands, the parent of CB Sports Apparel and Neve Designs, has hired Christopher Pete as COO.