November 3, 2021

US Fishing Equipment Market Reels in Nearly $4 Billion

In the 12 months ending September 2021, U.S. fishing-equipment in-store and online sales revenues across mass merchants and sporting goods retailers, as well as e-commerce sites grew 4 percent, year over year, reaching $3.9 billion. The fishing equipment market has experienced three consecutive years of growth, according to The NPD...

October 29, 2021

REI Co-op to Invest $30M in Founders of Color to Accelerate Their Outdoor Industry Businesses

REI Co-op has created an initiative aimed at helping founders of color with their outdoor-focused businesses. The retail giant has revealed Path Ahead Ventures, an effort it said will help founders of color who are starting and scaling their businesses. For this initiative, REI said it will partner with Black, Indigenous, Latinx...

October 29, 2021

Outdoor industry sales numbers grew moderately in Q3, despite headwinds

Many outdoor-focused, publicly traded companies fell short of Wall Street’s projections for revenue and income growth in the third quarter, but they still posted decent numbers—especially considering that supply chain congestion worsened in the period. Find out how they fared on Outside Business Journal

October 28, 2021

Emerald Holding Shrinks Q3 Loss

During the third quarter, Emerald traded 32 in-person trade shows, conferences and other events, serving “more than 92,000 attendees and 5,200 exhibiting companies. Net loss of $9.0 million for the third quarter 2021, compared to a net loss of $15.3 million for the third quarter 2020. Adjusted EBITDA, a non-GAAP measure, of...

October 28, 2021

Patagonia CEO Slams Facebook, Calls on Other Businesses to Boycott Advertisements To Stop Misinformation

Patagonia CEO Ryan Gellert took the the company’s Twitter account to encourage businesses to join the outdoor retailer in removing advertisements from Facebook as well as its subsidiary Instagram. The viral thread, which has over 57,000 likes collectively, explains Patagonia’s decision to stop all paid advertising on Facebook platforms in June...

October 27, 2021

Why is Patagonia now selling wine?

Patagonia provides much of the apparel and gear needed to explore the backcountry, and now the company is giving adventurers—the adult ones, anyway—another beverage option for their après festivities. The company’s food division, Patagonia Provisions, unveiled a collection of wines, ciders, and sake. The launch comes as the brand works to...

October 27, 2021

Garmin revenue rises 7% in third quarter

Garmin Ltd. revenue increased 7% year-over-year, aided by a slight jump in fitness sales driven by cycling and wearable products. However, it's the first earnings report since Q2 last year in which Garmin didn't record double-digit revenue growth. Total revenue for the quarter ending Sept. 25 was $1.19 billion, rising from...

October 21, 2021

Market research company NPD Group sold to PE firm

This week, NPD Group, the Port Washington, N.Y.-based global firm that specializes in market analysis (including the outdoor industry), announced it had agreed to be acquired by the private equity firm Hellman & Friedman for an undisclosed amount. Under the terms of the deal, NPD’s executive chairman, Tod Johnson, and...

October 19, 2021

VF Corporation to impose Covid vaccine mandate

Colorado-based VF Corporation announced in an internal email yesterday that, beginning January 1 of next year, the company will require all office-based U.S. employees to be vaccinated against Covid-19. Affected employees who do not secure an approved exemption by January 31 will be terminated without severance, according to a company...

October 19, 2021

$11M Invested in Camping App The Dyrt to Nearly Double Team Size

PORTLAND, Ore., Oct. 19, 2021 - The Dyrt, the No. 1 camping app with the most active camping community in the world, recently closed an over-subscribed Series B round of funding led by Realization Capital Partners. The investment, combined with strong revenue from The Dyrt PRO, has the company adding 30...