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Stocks update: Outdoor industry continues to climb out of deep hole

More outdoor companies saw their shares grow rather than decline in October, but the industry still lags behind other sectors as supply chain concerns intensify.


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Many of the outdoor industry’s publicly traded companies saw their collective shares improve in October, but a handful of stocks that tanked kept the overall average flat—and well below that of other indices.

Corporations with one or more outdoor assets in their portfolios saw shares decline an average of 0.7, narrowing its 6.1 percent decline in the third quarter but still shy of high marks set earlier in the year, according to the latest OBJ Outdoor Index.

The other three indices that OBJ tracks as a comparison all improved last month. The Nasdaq was up 7.3 percent, the S&P 500 grew 6.9 percent, and the Dow Jones Industrial Average increased 5.8 percent in October.

OBJ Outdoor Index compared to other indices: October 2021

Index October chg%
OBJ Outdoor Index -0.7%
Dow Jones +5.8%
S&P 500 +6.9%
Nasdaq +7.3%

Of the 27 public companies that OBJ tracks, 19 saw their share prices grow in October and eight saw declines—some of them steep. Here are the month’s top stock performers:

  1. YETI Holdings Inc. (NYSE: YETI): +14.8%
  2. Thule Group AB (OTC: THUPY): +12%
  3. On Holding AG (NYSE: ONON): +12.5%

And here are the companies that saw the biggest declines in the month:

  1. Anta Sports Products Ltd. (OTC: ANPDY): -17.1%
  2. Fenix Outdoor International AG (STO: FOI-B): -12%
  3. GoPro Inc. (Nasdaq: GPRO): -8%

One month into the fourth quarter and well into the holiday shopping season, the ongoing supply chain quagmire remains a challenge for all businesses. OBJ will continue to track the ways that brands and retailers are navigating the crisis as Black Friday draws near. And be sure to look for our next OBJ Outdoor Index in early December.

Tracking the monthly OBJ Outdoor Index

Below is the OBJ Outdoor Index for October. The Index shows how 27 public corporations—mostly parent companies of outdoor brands, with a couple of retailers, a ski resort giant, and a trade show operator included as well—performed in the calendar month.

The chart includes the companies’ share prices on the last business day of the previous month (Sept. 30), their share price on the last business day of the just-completed quarter (Oct. 29), the percent change in that period, and current market cap (equal to share price times the total number of shares outstanding).

The OBJ Outdoor Index, unlike other indices such as the Dow Jones Industrial, doesn’t use a market cap weighting system.

Foreign companies’ shares are presented here in U.S. dollars and designated as OTC (over-the-counter) securities since they aren’t listed on U.S. stock exchanges. Two exceptions are Dometic Group AB and Fenix Outdoor International Group, whose share prices can be found only on Nasdaq Stockholm and are represented as U.S. currency converted from the Swedish krona.

Underneath the stock chart is a capsule on each of the 27 companies of the OBJ Outdoor Index, including headquarters location, connections to the outdoor industry (if not immediately obvious), key executives, and recent editorial coverage in OBJ, where applicable.

This Index is a living document. We’ll update the chart as needed (monthly and/or quarterly), we’ll edit capsules based on organizational changes made, and we’ll add or remove companies based on mergers and acquisitions, newly available trading information, IPOs, and other relevant developments. 

For example, we just added On Holding AG (NYSE: ONON), which went public in mid-September (and also notched a nice first month of trading). And next month we’ll add Solo Brands Inc. (NYSE: DTC), whose IPO kicked off last Thursday.

For more coverage of these companies—including breakouts of brand performance, where available—check out our quarterly financial recaps, which provide relevant details about outdoor public companies’ most recent earnings reports, including revenue and net income. OBJ just posted part one of the Q3 2021 earnings recap. The second will be out later this month.

OBJ Outdoor Index: October 2021

Company Ticker Stock value
9/30/21
Stock value
10/29/21
Chg%
Oct. ’21
Market Cap

10/29/21

Adidas AG (OTC: ADDYY) $158.12 $163.71 +3.5% $63.869B
ANTA Sports Products Ltd. (OTC: ANPDY) $472.03 $387.61 -17.9% $42.028B
Callaway Golf Co. (NYSE: ELY) $27.63 $27.05 -2.1% $5.03B
Camping World Holdings Inc. (NYSE: CWH) $38.87 $37.25 -4.2% $1.697B
Canada Goose Holdings Inc. (NYSE: GOOS) $35.67 $37.10 +4% $3.981B
Canadian Tire Corp. (OTC: CDNAF) $140.71 $141.68 +0.7% $8.847B
Clarus Corp. (Nasdaq: CLAR) $25.63 $27.58 +7.6% $932.207M
Columbia Sportswear Co. (Nasdaq: COLM) $95.84 $103.84 +8.3% $6.85B
Compass Diversified (NYSE: CODI) $28.17 $29.85 +6% $1.937B
Deckers Outdoor Corp. (NYSE: DECK) $360.20 $395.31 +9.7% $10.935B
Dick’s Sporting Goods Inc. (NYSE: DKS) $119.77 $124.21 +3.7% $11.004B
Dometic Group AB (STO:DOM.ST)  $15.21** $14.52 -4.5% $39.89B
Emerald Holding Inc. (NYSE: EEX) $4.34 $4.05 -6.7% $288.514M
Fenix Outdoor International AG  (STO: FOI-B) $167.04** $146.96 -12% $16.862B
Garmin Ltd. (Nasdaq: GRMN) $155.46 $143.60 -7.6% $27.617B
GoPro Inc. (Nasdaq: GPRO) $9.36 $8.61 -8% $1.327B
Helen of Troy Ltd. (Nasdaq: HELE) $224.68 $224.95 +0.1% $5.428B
Johnson Outdoors Inc. (Nasdaq: JOUT) $105.80 $106.18 +0.4% $1.075B
Newell Brands Inc. (Nasdaq: NWL) $22.14 $22.89 +3.4% $9.737B
On Holding AG* (NYSE: ONON) $30.36 $34.16 +12.5% $11.428B
Samsonite International SA (OTC: SMSEY) $10.65 $10.66 +0.1% $3.072B
Thule Group AB (OTC: THUPY) $26.16 $29.57 +13% $6.184B
Vail Resorts Inc. (NYSE: MTN) $334.05 $344.71 +3.2% $13.955B
VF Corp. (NYSE: VFC) $66.99 $72.88 +8.8% $28.616B
Vista Outdoor Inc. (NYSE: VSTO) $40.31 $41.84 +3.8% $2.401B
Wolverine World Wide Inc. (NYSE: WWW) $29.84 $33.17 +11.2% $2.727B
Yeti Holdings Inc. (NYSE: YETI) $85.69 $98.33 +14.8% $8.601B
OBJ Outdoor Index avg. $2,830.72 $2,812.27 -0.7%

* New to the OBJ Outdoor Index
** Currency converted from Swedish krona

OBJ Outdoor Index: Company guide

Adidas AG (OTC: ADDYY)

  • Headquarters: Herzogenaurach, Germany (U.S. operation is based in Portland, Oregon)
  • Outdoor connection: While Adidas might be known for its athletic apparel, the company also possesses some core outdoor DNA through its Portland, Oregon-based Adidas Terrex and Five Ten brands.  
  • Key executives: Kasper Rorsted, CEO; Carla Murphy, GM, Adidas Outdoor

ANTA Sports Products Ltd. (OTC: ANPDY)

  • Headquarters: Xiamen, China (subsidiary Amer Sports is based in Helsinki, Finland, and its U.S. operation is based in Ogden, Utah)
  • Outdoor connection: ANTA is the owner of Amer Sports and its portfolio of outdoor and snow sports brands — Suunto, Salomon, Arc’teryx, Armada Skis, and Atomic.
  • Key executives: Jie Zheng, CEO, Amer Sports

Callaway Golf Co. (NYSE: ELY)

  • Headquarters: Carlsbad, California
  • Outdoor connection: Though primarily a golf manufacturer and now the owner of Topgolf, the company made a big play in the outdoor space in late 2018 with the acquisition of European outdoor brand Jack Wolfskin.
  • Key executives: Chip Brewer, President and CEO, Callaway; Richard Collier, CEO, Jack Wolfskin; Diana Seung, GM, Jack Wolfskin North America

Camping World Holdings Inc. (NYSE: CWH)

  • Headquarters: Lincolnshire, Illinois
  • Outdoor connection: Camping World tried its hand at outdoor retail but abandoned that play in 2019.
  • Key executives: Marcus Lemonis, CEO

Canada Goose Holdings Inc. (NYSE: GOOS)

  • Headquarters: Toronto, Ontario
  • Outdoor connection: In addition to its eponymous apparel brand, Canada Goose owns and operates footwear brand Baffin.
  • Key executives: Dani Reiss, CEO

Canadian Tire Corp. (OTC: CDNAF)

  • Headquarters: Toronto, Ontario
  • Outdoor connection: CTC boasts an iconic outdoor brand, Helly Hansen, in its portfolio. (It also operates a chain of sporting goods retail stores throughout Canada.)
  • Key executives: Paul Stoneham, CEO, Helly Hansen (departing)

Clarus Corp. (Nasdaq: CLAR)

  • Headquarters: Salt Lake City, Utah
  • Outdoor connection: Clarus is a holding company whose flagship outdoor brand is Black Diamond Equipment. Clarus also owns Rhino-Rack, Pieps, SKINourishment plus two bullet manufacturers.
  • Key executives: John Walbrecht, President

Columbia Sportswear Co. (Nasdaq: COLM)

  • Headquarters: Portland, Oregon
  • Outdoor connection: In addition to the Columbia brand, the Portland-based apparel and footwear giant includes Mountain Hardwear, prAna, and SOREL in its portfolio.
  • Key executives: Timothy Boyle, CEO

Compass Diversified (NYSE: CODI)

  • Headquarters: Westport, Connecticut
  • Outdoor connection: Long known for its hook-and-bullet assets, CODI added a big outdoor name in the fall of 2020 with the acquisition of BOA Technology Inc.
  • Key executives: Shawn Neville, CEO, BOA Technology

Deckers Outdoor Corp. (NYSE: DECK)

  • Headquarters: Goleta, California
  • Outdoor connection: Deckers is a major player in outdoor and active footwear with such brands as Hoka One One, Teva, Sanuk, and Ugg.
  • Key executives: Wendy Yang, President, performance lifestyle brands

Dick’s Sporting Goods Inc. (NYSE: DKS)

  • Headquarters: Pittsburgh, Pennsylvania
  • Outdoor connection: The sporting goods retail giant recently launched an outdoor store concept called Public Lands, led by industry veteran Todd Spaletto.
  • Key executives: Lauren Hobart, President and CEO; Todd Spaletto, President, Public Lands

Dometic Group AB (STO: DOM.ST)

  • Headquarters: Stockholm, Sweden
  • Outdoor connection: The Swedish-based company manufactures accessories for mobile-living end markets such as campers and RVs, and it recently acquired Igloo Products Corp.
  • Key executives: Juan Vargues, President and CEO

Emerald Holding Inc. (NYSE: EEX)

  • Headquarters: San Juan Capistrano, California
  • Outdoor connection: Emerald is the owner and operator of the twice-annual Outdoor Retailer and Surf Expo trade shows
  • Key executives: Hervé Sedky, CEO

Fenix Outdoor International AG (OTC: FNXTF) 

  • Headquarters: Zug, Switzerland (U.S. headquarters in Louisville, Colorado)
  • Outdoor connection: The Swiss company’s outdoor brands include Fjallraven, Royal Robbins, Brunton, and Primus.
  • Key executives: Martin Nordin, CEO; Nathan Dopp, CEO Americas

Garmin Ltd. (Nasdaq: GRMN)

  • Headquarters: Schaffhausen, Switzerland (U.S. headquarters in Olathe, Kansas)
  • Key executives: Clifton Pemble, President and CEO

GoPro (Nasdaq: GPRO)

  • Headquarters: San Mateo, California
  • Key executives: Nick Woodman, CEO

Helen of Troy Ltd. (Nasdaq: HELE)

  • Headquarters: El Paso, Texas
  • Outdoor connection: Among its many consumer brands is Hydro Flask, the maker of insulated and stainless steel drinkware.
  • Key executives: Julien Mininberg, CEO

Johnson Outdoors Inc. (Nasdaq: JOUT)

  • Headquarters: Racine, Wisconsin
  • Outdoor connection: The company owns two outdoor brands (Eureka and Jetboil) and two watercraft brands (Old Town and Ocean Kayak).
  • Key executives: Helen P. Johnson-Leipold, Chairman and CEO

On Holding AG (NYSE: ONON)

  • Headquarters: Zurich, Switzerland
  • Outdoor connection: The running shoe brand recently went public, pricing its IPO of 31.1 million shares at $24 a share—up from its initial expectations—for an initial raise of $746 million.
  • Key executives: Martin Hoffmann, Co-CEO and CFO, Marc Maurer, Co-CEO, and Olivier Bernhard, Co-Founder and Executive Director
  • Recent OBJ coverage: On Running goes public, raising $746 million in IPO

Newell Brands Inc. (Nasdaq: NWL)

  • Headquarters: Atlanta, Georgia
  • Outdoor connection: The company’s core outdoor brands are Marmot and Coleman (and there is some crossover into outdoor with its other consumer brands Contigo, Ex Officio, and Stearns)
  • Key executives: Ravi Saligram, CEO

Samsonite International SA (OTC: SMSEY)

  • Headquarters: Hong Kong
  • Outdoor connection: The luggage giant owns outdoor pack and bag brands Gregory Mountain Products and High Sierra
  • Key executives: John Sears, VP, Gregory

Thule Group AB (OTC: THUPY) 

  • Headquarters: Malmo, Sweden
  • Outdoor connection: The Swedish maker of Thule car racks, luggage, and baby strollers recently got into car-top campers with its purchase of Tepui.
  • Key executives: Magnus Welander, CEO; Hilary Hartley, President Americas

Vail Resorts Inc. (NYSE: MTN)

  • Headquarters: Broomfield, Colorado
  • Outdoor connection: In addition to being the largest ski resort operator in the world, Vail also operates massive lodging and retail operations.
  • Key executives: Rob Katz, CEO

VF Corp. (NYSE: VFC)

Vista Outdoor Inc. (NYSE: VSTO)

  • Headquarters: Anoka, Minnesota
  • Outdoor connection: Vista did some rightsizing of its portfolio in recent years by shedding its firearms assets and acquiring new brands in the outdoor and shooting sports spaces. Its outdoor portfolio now consists of CamelBak, Camp Chef, Bell, Giro, QuietKat, and Venor.
  • Key executives: Christopher Metz, CEO

Wolverine World Wide Inc. (NYSE: WWW)

  • Headquarters: Rockford, Michigan
  • Outdoor connection: Another of the big footwear players, Wolverine owns and operates such outdoor brands as Merrell and Chaco, while other brands include Wolverine, Saucony, and Cat Footwear.
  • Key executives: Blake Krueger, CEO

Yeti Holdings Inc. (NYSE: YETI)