SGB Update Outdoor
Johnson Outdoors Sees Slight Decline In Q3 Profits
Johnson Outdoors Inc. reported earnings slipped 7.1 percent in the third quarter ended June 28 due to higher operating expenses and lower margins tied to tariffs. Revenues grew 3 percent.
Columbia’s Tim Boyle Speaks Out Against Tariffs
In a statement, Tim Boyle, president and CEO of Columbia Sportswear Co., decried President Trump’s plans for a new 10 percent tariff on $300 billion of Chinese imports. He said in part, “We’ve been fortunate to have a strong economy for the past decade. Let’s not tank the economy with the misguided conception that trade wars are fun.”
Ventum Announces Series A Funding
Ventum, maker of performance racing bicycles and the Official Global Bike Partner of Ironman, announced that it has raised a round of funding and that it is moving to Heber City, UT.
Trump Says U.S. Will Impose 10 Percent Tariffs On Another $300 Billion Of Chinese Goods
Industry and retail trade organizations reacted quickly to criticize President Trump’s plans for a new 10 percent tariff on $300 billion of Chinese imports, taking effect on Sept. 1, 2019. These tariffs will target “List 4” products – products including footwear and apparel that have not previously been subject to tariff increases.
Birkenstock Opens Second Company-Owned Retail Store In The U.S.
Birkenstock Americas announced that it has opened its second company-owned retail store in the United States. The location is in Venice Beach, CA.
Yeti Q2 Earnings Improve On DTC Momentum
Yeti Inc. reported earnings on an adjusted basis increased 23 percent in the second quarter ended June 29 on a 12 percent revenue gain. Direct-to-consumer (DTC) sales jumped 43 percent while wholesale revenues were flat. The company slightly raised its EPS guidance for the year.
Recall: Trek Kickster Bikes
About 11,560 (also including 1,800 sold in Canada) Trek Kickster kids bikes are being recalled.
Lowa Acquires Italy’s Riko Sport
Lowa Sportschuhe GmbH has acquired the Italian shoe specialist Riko Sport S.r.l., a core supplier of Lowa’s footwear.
Zumiez Appoints Board Member
Zumiez Inc. appointed Liliana Gil Valletta to the company’s Board of Directors. She co-founded Cien+ and Culturintel, collectively provide business consulting, big-data analytics, and marketing solutions for companies to help successfully turn cultural trends into opportunities for business success.
Adventure Sports Network Group Promotes Courtney Gresik To Vice President And General Manager Of Dew Tour
Adventure Sports Network Group announced that Courtney Gresik has been named vice president and general manager of the Dew Tour.
The Sheckler Foundation Welcomes Chris Joslin As SkateBOARD Member
The Sheckler Foundation welcome Chris Joslin as the newest skateBOARD member. Joslin will be joining Ryan Sheckler, Christian Hosoi, Fabrizio Santos, Manny Santiago, Oscar Loreto Jr., David Reyes and the Sheckler Foundation on its mission to “Be the Change.”
Former K2 Sports CEO Becomes Interim CEO Of CannTrust Holdings
CannTrust Holdings Inc., a licensed producer of medical and recreational cannabis in Canada, has appointed Robert Marcovitch to the role of interim CEO. Marcovitch was most recently the president and CEO of K2 Sports.
Deckers Brands Q1 Powered By Big Gains At Hoka One One
Deckers Brands raised its outlook for the year after reporting a slightly lower year-over-year loss in the first quarter ended June 30 on a 10.5 percent revenue gain. Hoka led the way, with a 67 percent sales hike. Ugg’s sales grew 1.5 percent.
U.S. Trade Groups Urge Congress To Approve USMCA
The American Apparel & Footwear Association, Outdoor Industry Association and National Retail Federation joined with more than 600 other trade organizations in a letter to Congress supporting approval of the U.S. Mexico Canada Agreement (USMCA).
RECALL: Cannondale CAADX Cyclocross Bicycles
About 9,700 Cannondale CAADX Cyclocross Bicycles sold in the U.S. are being recalled, according to a press release from the U.S. Consumer Product Safety Commission.
