All Outdoor Industry Compass articles in OIC Vol. 17, Issue 3 – Page 11
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News briefsSolo Brands hurt by lower DTC traffic in Q1
Solo Brands reported an operating loss of $6.4 million against a profit of $3.2 million for the period ended March 31. Adjusted Ebitda tumbled 72 percent to $4.3 million as gross margin sunk by 250 basis points to 59.2 percent on a shift in channel mix to the lower gross ...
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News briefsHelly Hansen sales fall in Q1
Reported Q1 sales at Canadian Tire-owned Helly Hansen declined by 7.8 percent to 192.2 million Canadian dollars (€130.3m) from C$208.4 million for the three months ended March 30. Brand sales outside of Canada accounted for nearly 93 percent of the total, or C$178.2 million (€120.8m). The Norwegian company’s constant currency ...
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ArticleEU’s new directive for the right to repair
On April 23, after about two years of negotiation, the EU adopted a directive establishing common rules for the right to repair. Member states must be compliant with the directive within 24 months of its entry into force. The rules relate to the New Consumer Agenda and the Circular Economy ...
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ArticleYeti bumps up FY income outlook after solid Q1
The outdoor product group maintained its full-year adjusted sales outlook of 7 to 9 percent growth. However, after reporting strong Q1 results, Yeti moved its adjusted operating income percentage target up slightly to 16.0 to 16.5 percent. Operating income rose by 71 percent to $25.8 million from $15.1 million ...
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ArticlePatagonia forging ahead with recyclable wetsuits
In 2014 Patagonia changed the material in its wetsuits from neoprene, a synthetic derived from petroleum, to a natural rubber produced by Yulex – at least for about 85 percent of each wetsuit. Six years later, it built what it calls the Wetsuit Forge, which combined its design and repair ...
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News briefsTopgolf Callaway Brands lowers guidance on soft Wolfskin trends, currency
Topgolf Callaway Brands has dropped its annual revenue guidance range to $4.44–$4.48 billion, citing both significant currency volatility and weaker trends in its Jack Wolfskin business. In Q1 ended March 31, the group’s Active Lifestyle segment suffered a 15.2 percent revenue decline to $271.5 million due to lower wholesale sales ...
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ArticleEmerging ‘proof points’ are positive news for Wolverine
In a self-proclaimed “transition year,” Wolverine Worldwide is beginning to witness ”proof points” that it hopes will signal an ongoing turnaround for the Saucony, Merrell and Sweaty Betty parent. These developments in Q1, where the company exceeded Wall Street’s revenue guidance, included higher gross margins, less promotion in the direct-to-consumer ...
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News briefsRose Bikes expands service network to over 130 partner workshops in DACH
Rose Bikes is strategically expanding its stationary network of partner workshops. The German company is entering into a cooperation with Verbund Service und Fahrrad (VSF), one of the largest stationary networks in Germany’s industry, and is successively adding VSF-allride certified workshops to its service portfolio. In addition to its nine ...
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News briefsNew CFO for Wolverine Worldwide
Source: Business Wire Taryn Miller, Chief Financial Officer of Wolverine Worldwide Wolverine Worldwide has named Taryn Miller its new Chief Financial Officer, effective May 9. Miller will report directly to Chris Hufnagel, the company’s President and CEO. Miller brings a wealth of financial expertise to Wolverine Worldwide, ...
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ArticleGoPro says turnaround will take more time as Q1 loss widens
GoPro’s Q1 revenues exceeded its guidance, but the operating loss increased for the period ended March 31. Founder and CEO Nicholas Woodman said the company is making progress on its multi-year strategy. Still, he urged investors to be patient as GoPro continues investing in a broader product line and retail ...
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News briefsMontane becomes a Bluesign System Partner
Montane, the outdoor clothing and equipment brand based in Northumberland, UK, has obtained Bluesign System Partner status. The brand explains on its website that many of the fabrics and trims it uses have been Bluesign-approved for years. In January, Montane published its first-ever Impact Report as part of its commitment ...
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News briefsOrbea’s revenue down for the first time in 8 years
Orbea closed out full-year 2023 with its first drop in revenues in eight years, according to Palco23. Although the Basque cycling brand does not disclose them in full, sales appear to have come in at around €374.4 million, down by 6.4 percent from the previous year’s €400 million or so. ...
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News briefsLowa’s 2023 financial results stable despite weaker demand
Lowa’s production volume has been stable in the past financial year despite weaker market demand and delays due to introducing new IT systems in production. In its 100th year, the German hiking and mountaineering boot specialist, part of the Italian Tecnica Group, sold around 3.06 million pairs of shoes, roughly ...
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ArticleDespite difficult times, Bike24 looks to a brighter future
Although 2024 got off to a challenging start in a persistently uncertain economic environment, Bike24 Holding AG, the German e-commerce retailer for cycling, running and swimming sports, expects a return to growth with improved profitability. “In the current macroeconomic environment, we have made a satisfactory start to 2024,” said Bike24 ...
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ArticleWolfbike effects a shift to distribution
Business has been brutal as of late for Wolfbike, according to CMDsport. The manufacturer of bicycles has been operating in Valencia, Spain, for 14 years and has in that time put together a catalogue of 180 models. Because of the cycling industry’s boom and bust since the lockdowns, however, the ...
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ArticleRVRC sets new three-year targets as Q3 results come in strong
Swedish DTC outdoor company Revolution Race (RVRC) disclosed new three-year financial targets ahead of reporting strong Q3 results. The group intends to achieve annual sales growth of 20 percent and an adjusted EBIT margin of 20 percent through FY26/27. In late January, RVCR said its FY23/24 revenue objective was at ...
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ArticleAcquisition of Marucci cushions decline in Fox Factory's SSG bike product sales
Suspension specialist Fox Factory Holding Corp. announced that the company met expectations with a 16.6 percent decline in sales in the first quarter (compared to Q1 2023) to $333.47 million (€309.91m): all three of Fox Factory’s divisions suffered sales declines. The total Q1 sales can be divided into: Powered ...
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Short stops
Short Stops Week 19, 2024
TRADE SHOWS & EVENTS +++ The third edition of Texstile, the event dedicated to the sports textile industry and the promotion of Made in Italy, organized by Expotime, will take place in Riva del Garda on May 27-28 +++ The second edition of the Boston Outdoor Expo will take place ...
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Article2023: Vaude reduces global CO2 emissions by 30%
According to its 2023 CO2 emissions chart, Vaude has reduced its global greenhouse gas emissions by almost one-third compared to the reference year of 2019, while the company’s turnover increased significantly in the same period. Vaude thus shows that it is possible to decouple resource consumption from corporate growth and ...
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News briefsThe mountain bike market is projected to post 5.4% CAGR by 2027
According to a new report by tech research firm Technavio, the global mountain bike market is estimated to expand at a compound annual growth rate (CAGR) of over 5.4 percent from 2023 to 2027, with a growing emphasis on innovation and customer awareness. Electric mountain bikes (eMTBs) are gaining popularity. ...
