SGB Update Outdoor
Zumiez Sees Q4 Results at Low End of Guidance After Tough Holiday
Zumiez forecasted fiscal 2023 fourth-quarter sales to be near the low end of its guidance range of $275 million to $281 million and fourth-quarter earnings per share to also be near the low end of its range of 24 cents to 34 cents.
Coleman, Marmot Parent Sees Further Cuts in New Organizational Realignment
The majority of the plan’s costs are in the area of cash severance payments and other termination benefits. The company plans to reduce its office roles by approximately 7 percent, with most expected to be complete by the end of 2024.
Compass Diversified Promotes Three on Investment Team
The owner of Velocity Outdoor, BOA, Primaloft, 5.11, and other active lifestyle brands, promoted investment team members Raj Dalal, Lucas Scholhamer and Phoebe Madsen.
UK Retail Foot Traffic Declines Sharply in December
Overall retail UK foot traffic decreased by 5.0 percent year-over-year in December, down from a 0.7 percent decline in November, according to BRC-Sensormatic IQ data.
NRF: Import Cargo Enters Winter Lull as Red Sea Disruptions Continue
Inbound cargo volume at the nation’s major container ports should gradually decline during the first quarter of 2024 before increasing in the spring, according to the latest NRF report.
Outdoor Foundation Appoints New Executive Director
Lesford Duncan joins Outdoor Foundation as ED with over a decade of experience in public management in government and nonprofit sectors. Most recently, he was the CEO of the Greening Youth Foundation.
Helen of Troy Home & Outdoor Segment Posts Fiscal Q3 Growth
The segment, which includes OXO, Hydro Flask and Osprey, increased 3.1 percent to $235.9 million for the three-month period ended November 30, compared to $228.9 million in the prior-year corresponding period.
Solo Brands Names Chris Metz as CEO; Company Cuts Full-Year Guidance
Revenue is now expected to be between $490 million and $500 million. This compares to our previous guidance of $520 million to $540 million. New CEO Chris Metz was, most recently, CEO of Vista Outdoor.
Lululemon Athletica Ups Guidance on Solid Holiday Performance
Fiscal Q4 net revenue is now expected to be in the range of $3.17 billion to $3.19 billion, representing a 14 percent to 15 percent increase compared to Q4 2022. The previous guidance range was $3.14 billion to $3.17 billion.
Wolverine World Wide Expects 2023 Results In Line with Estimates
The company expects to deliver financial results in line with previous guidance and achieving better-than-anticipated year-end debt and inventory levels.
United Sports Brands Names CEO
Phil Gyori was appointed CEO. Most recently, he was the CEO of Pelican Products. His hire follows the company’s recent acquisition by Norwest Equity Partners.
Outdoor Recreation Roundtable Names SVP of Communications & Operations
Whitney Potter Schwartz will reportedly oversee branding and communications, strategy, and events for ORR and support the development and operations goals through new partnerships to “elevate” the organization’s policy objectives for the outdoor economy at the national level.
Bell Slope Bike Helmets Recalled
About 11,000 Bell Slope adult bike helmets are being recalled. The strap anchor could dislodge from the helmet when sufficient force is applied, violating CPSC federal safety guidelines.
Costco’s Global Sales Climb 10 Percent In December
Costco Wholesale Corporation reported net sales of $26.15 billion for the retail month of December, an increase of 9.9 percent from $23.80 billion last year. U.S. sales were up 7.3 percent.
Report: U.S. Holiday Online Sales Grow 4.9 Percent
Online spending in the U.S. during the 2023 holiday season climbed 4.9 percent to $222.1 billion in November and December, according to Adobe Analytics. Growth was reportedly driven by sizeable discounts across electronics, toys and apparel, as well as increased usage of the flexible ‘Buy Now Pay Later’ payment option.
