Sports News and Press Releases about Outdoor Industry Business
Want to stay up to date on the latest press releases and business news in the outdoor sports and camping industries? Scroll below to view all outdoor industry business news.
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November 21, 2023
Outdoor recreation contributed over $1 trillion to the US economy in 2022
According to the US Department of Commerce, the outdoors recreation industry contributed $1.1 trillion to the US economy in 2022. The Department of Commerce’s latest assessment reveals that last year, outdoors recreation put more back into the US economy than oil and gas extraction and mining combined, while being responsible for...
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November 21, 2023
Beyond Unbound: Gravel Kansas launches a statewide gravel cycling network of routes, free of startlines and entry fees
LeLan Dains ,former co-owner of the famed Unbound Gravel event, has long been on a mission to showcase the best riding Kansas has to offer. This inspired Gravel Kansas, a statewide route creation initiative that empowers riders to explore the 98,000 miles of unpaved Kansas roads and the communities surrounding them. This...
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November 21, 2023
Dick’s Sporting Goods reports record Q3 net sales of $3.04 billion
Dick's Sporting Goods' third-quarter net sales increased 2.8% year-over-year to a record $3.04 billion. Net income for the quarter was $201 million, down 11.8% from $228 million year-over-year. Earnings per share decreased 16.3%, from $2.94 to $2.46. BRAIN
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November 21, 2023
No Climbing Allowed: Federal Proposal May Restrict Access Nationwide, Advocacy Groups Warn
Last week, the U.S. National Park Service and the U.S. Forest Service unveiled a policy that would designate climbing bolts and anchors as “permanent installations,” which are banned under the 1964 Wilderness Act. That caused immediate concern among climbing groups, who said the change could threaten climbing routes across the country, from...
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November 20, 2023
Workers file unfair labor practice charges against REI
REI Co-op workers with the Retail, Wholesale and Department Store Union filed 80 nationwide unfair labor practice complaints against the outdoor retailer for bad-faith bargaining practices. The union said the federal complaints showed "a pattern of egregious anti-union behavior, emotional manipulation, and retaliatory actions against workers." According to the union,...
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November 15, 2023
‘Campground & RV Park E-News’ Magazine Put Up for Sale
Noting that by the end of this year the company will have published 744 issues over its 15 years of existence, Industry E News announced recently that it is currently soliciting buyers for its weekly “Campground & RV Park E-News” digital magazine. RV Business
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November 15, 2023
Out&Back Outdoor Acquires The Locals Sale
Out&Back Outdoor, a marketplace to buy or sell new and used outdoor gear, acquired gear exchange company The Locals Sale. Out&Back said in a release that the acquisition positions it to continue expanding its offerings that support sustainability and affordable pricing while challenging the way consumers typically shop and sell...
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November 14, 2023
Samsonite Sees Gregory’s Q3 Sales Climb 23 Percent
Samsonite International S.A. reported sales from its Gregory backpack brand grew 23 percent in the third quarter while an overall recovery in travel led to similar gains for the overall company. Consolidated net sales were $957.7 million for the three months ended September 30, an increase of 21.1 percent on...
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November 9, 2023
Yeti Lifts EPS Outlook on Strong Margins and Drinkware Strength
Yeti Holdings, Inc. raised its EPS guidance for the year after seeing margins in the second quarter top expectations, expanding over 600 basis points. Q2 Sales were flat as a 6 percent gain in drinkware sales offset a recall-related decline in cooler sales. Adjusted EPS was 60 cents a share,...
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November 9, 2023
Wolverine Sees New Round of Layoffs as It Looks to Further ‘Streamline’
Wolverine Worldwide is accelerating its transformation plan as it looks to “streamline” the organization. As part of this plan, the Rockford, Mich.-based footwear company on Thursday revealed a new global workforce reduction and organizational redesign. While Wolverine has not disclosed the number of employees affected by this move, the company...
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November 7, 2023
LCI Industries Reports Q3 Financials
LCI Industries, through its wholly owned subsidiary Lippert, reported financial results for 2023’s third quarter. Consolidated net sales for the third quarter were $1 billion, a decrease of 15% from 2022 third quarter net sales of $1.1 billion. Net income in the third quarter of 2023 was $25.9 million, or...
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November 6, 2023
EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
Brand aggregator Compass Diversified (CODI) saw third-quarter sales decline 25 percent at BOA and 16 percent at Primaloft as both businesses continued to be impacted by elevated inventories in the marketplace. Among CODI’s other active lifestyle brands, revenues grew 13 percent at Marucci Sports and 7 percent at 5.11 while...
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November 6, 2023
General RV Opening Fourth Florida Store
General RV Center will expand its Florida footprint in early December. The company will open a new store in Fort Pierce, Florida. The store is located about 20 miles north of Port St. Lucie. General RV operates 18 stores nationwide. RVNews
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November 2, 2023
Cummins Names Three Experienced Leaders to New Roles
COLUMBUS, Ind.-- Today, Cummins announced several changes to the Cummins Leadership Team. These appointments are effective Jan. 1, 2024. “Destination Zero is Cummins' strategy for decarbonization of our products and is a growth opportunity for us. With our broad portfolio of innovative products, strong partnership with and understanding of our...
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November 1, 2023
‘Access Problems for Everyone’: Federal Closure of Moab Trails Sparks Outrage
Off-roading groups and the State of Utah have filed legal challenges to keep Moab trails open to vehicles after federal officials announced large-scale closures in September. Gear Junkie
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November 1, 2023
Vista Outdoor Reports Second Quarter FY24 Financial Results
Vista Outdoor Inc. reported financial results for the second quarter of Fiscal Year 2024 (FY24), which ended on September 24, 2023. Sales decreased $105 million to $677 million, down 13 percent, driven by lower shipments across nearly all categories in the Sporting Products segment. Gross profit declined 21 percent to $209...
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November 1, 2023
Garmin Lifts Outlook On Q3 Beat
Garmin, Ltd. raised its guidance for the year as third-quarter results topped expectations. Among segments, fitness sales grew 26 and Outdoor advanced 7 percent while Marine declined 7 percent. Highlights for the third quarter 2023 include: Consolidated revenue of $1.28 billion, a 12 increase compared to the prior year quarter...
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October 30, 2023
How Wave Pools Are Deploying AI as a Revenue-Producing Tool
Wave parks seem to be the first to deploy artificial intelligence in a practical way connected to surfing. And it’s immediately being promoted as a revenue tool for them. Wavegarden announced this week that it’s using an AI-based video tracking program, which will allow park guests to track their sessions...
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October 30, 2023
Mountain Hardwear Down 9% in Q3 as Brand Works on Refresh
Outdoor apparel and gear brand Mountain Hardwear posted sales of $29.2 million for the third quarter ended Sept. 30, down 9% compared to the same period last year. The decline was driven by lower fall 2023 wholesale shipments, and was partially offset by DTC growth, said Tim Boyle, CEO of parent company...
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October 28, 2023
Thule’s Profits Bounce Back in Third Quarter
Thule Group reported a strong recovery in earnings in the third quarter as sales rose 8.0 percent. Sales in the North American region decreased 15 percent on a currency-neutral basis. The Sweden-based maker of outdoor and transportation products reported net sales for the quarter amounted to SEK 2,311 million ($205.8...
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October 27, 2023
Columbia Sportswear (COLM) Q3 Earnings Surpass Estimates
Columbia Sportswear (COLM) came out with quarterly earnings of $1.70 per share, beating the Zacks Consensus Estimate of $1.68 per share. This compares to earnings of $1.80 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.19%. A quarter...
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October 26, 2023
Hoka Continues to Drive Deckers Brands in Q2, Ugg Returns to Profit
Shares for Deckers Brands were up nearly 10 percent on Thursday evening after the bell, as the footwear company reported another positive quarter driven by its star Hoka and Ugg brands. The Goleta, Calif.-based footwear company reported net sales in the second quarter of 2024 increased 24.7 percent to $1.09...
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October 18, 2023
Mammut Aiming for $100 Million in North American Revenue
Mammut has almost quadrupled its revenue in the past four years in North America, according to North American General Manager Kris Kuster, and the company’s ambitions are to hit the $100-million mark in revenue in the region by 2028. Before Mammut was sold to private equity firm Telemos Capital in...
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October 17, 2023
VF Corp.’s Shares Jump on Activist Investor’s Move
Shares of VF Corp. jumped 14 percent on Tuesday after activist investor Engaged Capital reported that it had built a stake in the owner of Vans and The North Face and planned to push for changes, including steep cost cuts and a board overhaul. Shares were up $2.26 on Tuesday...
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October 17, 2023
Vail Resorts chief marketing officer to exit in latest executive shakeup
Vail Resorts, in a securities and exchange commission report filed Monday, announced that the company’s chief marketing officer, Ryan Bennett, will no longer be with the company as of Oct. 20. Bennett’s departure will be treated as an involuntary separation, and therefore “the company expects to enter into a severance...