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.
-
November 9, 2021
Report: Outdoor Rec Industry Worth $688B in Economic Output in 2020
The U.S. Bureau of Economic Analysis on Tuesday released its annual report on the outdoor recreation’s impact on the U.S. economy today. Despite a very tumultuous year in 2020 caused by COVID-19, outdoor recreation still generated $688 billion in economic output and employed 4.3 million people, or 3 percent of...
-
November 9, 2021
New report shows first decrease in outdoor industry’s economic power since 2012
The report, “Outdoor Recreation Satellite Account, U.S. and States, 2020,” measures the value of the outdoor economy at state and national levels. The report highlights a 19 percent decrease in outdoor-related GDP-add from 2019 to 2020, despite significant gains in a few key recreational activities including RVing and boating. Overall, the...
-
November 8, 2021
Cotopaxi CEO ‘Desperate’ to Stop Facebook Scam Ads
Cotopaxi cautions consumers about a recent uptick in fraudulent ‘Cotopaxi Outlet’ ads appearing on social media platforms. This isn’t the first time faux sellers have emulated a major brand claiming to sell quality products at unreal discounts, and it won’t be the last. However, improved targeted ads on social media...
-
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...
