SGB Update

Outdoor Participation Grows To Record Levels

According to Outdoor Foundation’s 2022 Outdoor Participation Trends Report more than half (54 percent) of Americans ages six and over participated in at least one outdoor activity in 2021, and the outdoor recreation participant base grew 2.2 percent during 2021 to 164.2 million participants. However, this growing number of outdoor enthusiasts did not fundamentally alter long-term declines in high frequency or “core” outdoor participation.

KMD Brands Sees 6.2 Percent Growth In Fiscal Year

KMD Brands, Ltd. reported sales grew 6.2 percent in the year ended July 31. The gains were driven by continued growth in Rip Curl sales, Kathmandu’s highest sales in Q4 and record order demand for Oboz product.

Gap To Undergo Layoffs

Gap, Inc. will eliminate about 500 corporate jobs, sources told the Wall Street Journal. The Gap has been looking to reduce costs during declining sales and profits.

Winchester Parent Lowers Third-Quarter Guidance

Olin Corporation, Winchester’s parent company, said it now expects third-quarter 2022 adjusted EBITDA to be in the range of $530 million to $550 million, down from an estimated $620 million due to the weakening global economy.

Nordstrom Adopts ‘Poison Pill’ After Mexican Retailer Buys Stake

Nordstrom, Inc. adopted a shareholder rights plan, more commonly known as a “poison pill,” to prevent outsiders from boosting their stake in the business after a Mexican company acquired a 9.9 percent stake in the upscale U.S. retailer’s business.

Brunt Workwear Hires Industry Veterans

Brunt Workwear hired industry veterans from Patagonia, Harley Davidson, Mizzen+Main, Under Armour, and The RealReal to support its management team.

Fanatics Partners With International Cricket Council

Fanatics and the International Cricket Council entered into a partnership whereby Fanatics operates the official ICC Global online store for all events and becomes manager of event retail.

Oxford Industries Acquires Johnny Was

Oxford Industries, Inc. announced its acquisition of Johnny Was, a California-based lifestyle apparel brand, was finalized for the purchase price of $270 million.

Namuk Appoints Vice President, North America

Namuk, the Swiss-based sustainable outdoor kid’s brand founded in 2016, hired Beth Steele as vice president of North America, responsible for driving its U.S. and Canadian business and building the organization in both DTC and B2B markets.