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Outside Business Journal

OBJ Outdoor Index, Q2: Industry Stocks Continues to Crush It

The OBJ Outdoor Index for the second quarter shows that outdoor businesses continue to outperform other industries by a wide margin

Origami dollar seedling being watered with coins
Eric Smith

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Despite supply chain challenges and an economy still transitioning into post-pandemic mode, publicly traded outdoor businesses crushed it on Wall Street in the spring, proving once again that the industry is one of the surest bets an investor can make.

In the calendar second quarter (March 31 to June 30), public companies with one or more outdoor brands in their portfolios saw stock prices rise an average of 14.9 percent, according to Outside Business Journal’s quarterly feature, the OBJ Outdoor Index.

That mark outpaced the Dow Jones Industrial Average (4.6 percent), the S&P 500 (8.2 percent), and the Nasdaq (9.5 percent) during the same period.

OBJ Outdoor Index Compared to Other Indices: Q2 2021

Index 3-mo. chg%
OBJ Outdoor Index +14.9%
Dow Jones +4.6%
S&P 500 +8.2%
Nasdaq +9.5%

Of the 25 public companies that OBJ tracks, only five saw their shares decline in the quarter. Declines ranged from the low-single digits to double digits.

Yet 12 companies posted gains in the double digits during Q2. The big winner was Clarus Corp., which rode the momentum of a market-shifting roof rack brand acquisition near the end of the quarter and saw its share price spike 50.7 percent in the period. Another big winner was Vista Outdoor Inc., which also was acquisitive in the period.

Here are Q2’s top performers.

  1. Clarus Corp. (Nasdaq: CLAR): +50.7%
  2. Vista Outdoor Inc. (NYSE: VSTO): +44.3%
  3. Anta Sports Products Ltd. (OTC: ANPDY): +42.6%
  4. Dick’s Sporting Goods Inc. (NYSE: DKS): +31.6%
  5. Yeti Holdings Inc. (NYSE: YETI): +27.2%

Tracking the Quarterly OBJ Outdoor Index

Below is the OBJ Outdoor Index for Q2. The Index shows how 25 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 second quarter. 

The chart includes the companies’ share prices on the last business day of the previous quarter (March 31), their share price on the last business day of the just-completed quarter (June 30), the percent change in that period, and market cap (equal to share price times the total number of shares outstanding).

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.

Underneath the stock chart is a capsule on each of the 25 companies of the OBJ Outdoor Index, including headquarters location, connections to the outdoor industry (if not immediately obvious), and key executives.

Something new to check out in the capsules: We added OBJ’s recent editorial coverage, where applicable, so you can see what’s happening with these companies and their brands beyond share values.

This Index is a living document. We’ll update the chart as needed (monthly and at the end of each quarter), 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.

OBJ Outdoor Index: Q2 2021

Company Ticker Stock Value 3/31/21 Stock value

Market Cap


Adidas AG (OTC: ADDYY) $157.01 $186.78 +19% $73.1B
Anta Sports Products Ltd. (OTC: ANPDY) $412.83 $588.75 +42.6% $63.7B
Callaway Golf Co. (NYSE: ELY) $26.75 $33.73 +26.1% $6.2B
Camping World Holdings Inc. (NYSE: CWH) $36.38 $40.99 +12.7% $3.6B
Canada Goose Holdings Inc. (NYSE: GOOS) $39.25 $43.74 +11.4% $4.8B
Canadian Tire Corp. (OTC: CDNAF) $142.36 $158.25 +11.2% $9.9B
Clarus Corp. (Nasdaq: CLAR) $17.05 $25.70 +50.7% $804.8M
Columbia Sportswear Co. (Nasdaq: COLM) $105.63 $98.36 -6.9% $6.5B
Compass Diversified (NYSE: CODI) $23.15 $25.50 +10.2% $1.7B
Deckers Outdoor Corp. (NYSE: DECK) $330.42 $384.07 +16.2% $10.7B
Dick’s Sporting Goods Inc. (NYSE: DKS) $76.15 $100.19 +31.6% $8.9B
Emerald Holding Inc. (NYSE: EEX) $5.52 $5.39 -2.4% $388.6M
Fenix Outdoor International AG  (OTC: FNXTF) $141.99 $141.35 -0.5% $1.9B
Garmin Ltd. (Nasdaq: GRMN) $131.85 $144.64 +9.7% $27.8B
GoPro Inc. (Nasdaq: GPRO) $11.64 $11.65 +0.1% $1.8B
Helen of Troy Ltd. (Nasdaq: HELE) $210.66 $228.12 +8.3% $5.5B
Johnson Outdoors Inc. (Nasdaq: JOUT) $142.75 $121.00 -15.2% $1.2B
Newell Brands Inc. (Nasdaq: NWL) $26.78 $27.47 +2.6% $11.7B
Samsonite International SA (OTC: SMSEY) $9.72 $10.08 +3.7% $2.9B
Thule Group AB (OTC: THUPY) $21.81 $22.34 +2.4% $4.7B
Vail Resorts Inc. (NYSE: MTN) $291.66 $316.52 +8.5% $12.8B
VF Corp. (NYSE: VFC) $79.92 $82.04 +2.7% $32.2B
Vista Outdoor Inc. (NYSE: VSTO) $32.07 $46.28 +44.3% $2.7B
Wolverine World Wide Inc. (NYSE: WWW) $38.32 $33.64 -12.2% $2.8B
Yeti Holdings Inc. (NYSE: YETI) $72.21 $91.82 +27.2% $8B

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 (like Acushnet above) 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 Wolfksin; Diana Seung, GM, Jack Wolfskin North America
  • Recent OBJ coverage: After a crazy year, Diana Seung gets Jack Wolfskin back on track

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)
  • Recent OBJ coverage: Helly Hansen in need of new CEO after Paul Stoneham’s departure

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
  • Recent OBJ coverage: Behind the Deal: Clarus racks up another ‘superfan’ brand

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
  • Recent OBJ coverage: REI names HOKA ONE ONE top vendor partner of 2020

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

Emerald Holding Inc. (NYSE: EEX)

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

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
  • Recent OBJ coverage: As Marmot approaches 50, the brand is getting a makeover

Samsonite International SA (OTC: SMSEY)

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
  • Recent OBJ coverage: Thule’s new Americas president sees “growth for years to come”

Vail Resorts Inc. (NYSE: MTN)

VF Corp. (NYSE: VFC)

  • Headquarters: Denver, Colorado
  • Outdoor connection: One of the biggest, most influential corporations in the outdoor industry, VF Corporation owns and operates an “outdoor” portfolio of The North Face, Altra, Icebreaker, Smartwool, Timberland, and an “active” portfolio of Eagle Creek (soon to be dearly departed), Eastpak, JanSport, and Vans.
  • Key executives: Steve Rendle, CEO

Vista Outdoor Inc. (NYSE: VSTO)

  • Headquarters: Anoka, Minnesota
  • Outdoor connection: Vista did some rightsizing of its portfolio in recent years, shedding its firearms assets, and 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) 

  • Headquarters: Austin, Texas
  • Key executives: Matthew Reintjes, president and CEO