SGB Update Outdoor

Wolverine Worldwide Appoints President, CEO-Designee

Wolverine World Wide Inc. announced the appointment of Brendan Hoffman as its next president and his appointment as a member of its Board of Directors, effective September 8. He is expected to transition over a period of time to become the future CEO of the company.

Canada Goose’s Q1 Sales Plunge

Canada Goose Inc. reported sales collapsed 63.3 percent in its seasonally-slow first quarter ended June 28 due to the impact of store closings due to COVID-19 and slow reopening phases. The loss widened in the period. The company now expects a decline in wholesale segment sales in its fiscal year.

Dorel Sports’ Q2 Sales Jump 18.5 Percent

Dorel Industries Inc. reported operating profits nearly tripled at its Q2 segment in the second quarter as sales rose 18.5 percent.  The segment includes Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse. Sales were limited by a lack of supply of certain models despite Asian suppliers re-opening in February.

Clarus’ Q2 Sales Slide 36 Percent

Clarus Corp., the parent of Black Diamond  and Sierra Bullets, reported a modest net loss in the second quarter ended June 30 as sales fell 36.2 percent due to store closures. Sales trends in both brands have continued to improve since the close of the quarter as stores have reopened.

TruFood Manufacturing Acquires Simply Natural Foods

TruFood Manufacturing, the maker of branded and private-label nutrition bars, protein bars, chocolate molded products, and baked goods, has acquired Simply Natural Foods, co-manufacturer of nutrition and better-for-you chocolate and bar brands for CPG companies as well as private label customers.

FortNine Secures Equity Investment

Novacap, one of Canada’s leading private equity firms, announced that it has acquired an interest in FortNine, a leading e-commerce platform for motorcycle, dirt bike, ATV, snowmobile and other powersports gear, accessories and parts in Canada.

Big Agnes Restructures Canadian Sales Force

Big Agnes Inc. has hired Matt McCormick, Jean-Pierre Ouellet and their newly formed agency Authentik Sales to represent the brand in Eastern Canada. They have also hired longtime reps Rob Cairns, Joni Collett and their agency Carpe Diem Marketing Concepts Ltd (CDMC Sales) in Western Canada.

Ski Industry Urges Support Of Restart Act

A letter signed by over 100 winter outdoor industry companies, including REI, Burton, Spyder, Aspen Skiing Co. and K2, sent to the leaders of U.S. Congress urges the federal government step in and provide additional long-term support for the ski industry’s small and medium-sized businesses in the next round of stimulus funding.

WFSGI July Survey Finds Some Optimism Amid Pandemic

The July Edition of the COVID-19 Impact Survey from the World Federation of the Sporting Goods Industry (WFSGI) finds that COVID-19 is forecast to impact 86 percent of survey respondent’s business, slightly more compared to last month. But the survey indicated some optimism going forward.