August Stock Update: Emerald Wins Big, Yeti Loses Bigger
Despite some gains, the picture wasn't great in August
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After July’s modest gains, outdoor stocks resumed their downward trend last month. The OBJ Index slid -3.04 percent in August after a 4.08 percent uptick in July.
Yeti Holdings took the biggest hit, followed by Clarus Corp., Dometic Group, and Solo Brands. Dick’s Sporting Goods continues to buck the downward trend with impressive gains. Overall, stocks on the OBJ Index significantly underperformed compared to other indices, indicating more uncertainty ahead for outdoor investors.
Here’s a look at the August numbers.
OBJ Outdoor Index vs. Other Indices: August 2022
|OBJ Outdoor Index||-3.04%|
Of the 28 public companies that OBJ tracks, six saw share price increases in August, up from only two in July. Here are the month’s top stock performers:
- Emerald Holdings Inc. (NYSE: EEX): +21.59%
- Samsonite International SA (OTC: SMSEY): +18.03%
- Dicks’s Sporting Goods Inc. (NYSE: DKS): +13.66%
And here are the companies that saw the biggest declines last month:
- Yeti Holdings Inc. (NYSE: YETI): -27.34%
- Clarus Corp. (Nasdaq: CLAR): -26.43%
- Dometic Group AB (STO:DOM:ST): -16.03%
Tracking the monthly OBJ Outdoor Index
Below is the OBJ Outdoor Index for August 2022. The Index shows how 28 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 at the close of the last business day of the previous month (July 29), their share price at the close of the last business day of the tracked month (August 31), and the percent change during that period.
The OBJ Outdoor Index, unlike other indices such as the Dow, 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 are capsules on each of the 28 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.
OBJ Outdoor Index: August 2022
|Adidas AG||(OTC: ADDYY)||$86.14||$74.18||-13.88%|
|ANTA Sports Products Ltd.||(OTC: ANPDY)||$275.24||$303.71||10.34%|
|Callaway Golf Co.||(NYSE: ELY)||$22.95||$22.13||-3.57%|
|Camping World Holdings Inc.||(NYSE: CWH)||$27.04||$30.12||11.39%|
|Canada Goose Holdings Inc.||(NYSE: GOOS)||$19.58||$18.01||-8.02%|
|Canadian Tire Corp.||(OTC: CDNAF)||$128.36||$118||-8.07%|
|Clarus Corp.||(Nasdaq: CLAR)||$20.62||$15.17||-26.43%|
|Columbia Sportswear Co.||(Nasdaq: COLM)||$74.01||$71.24||-3.74%|
|Compass Diversified||(NYSE: CODI)||$24.13||$20.86||-13.55%|
|Deckers Outdoor Corp.||(NYSE: DECK)||$313.21||$321.57||2.67%|
|Dick’s Sporting Goods Inc.||(NYSE: DKS)||$93.59||$106.37||13.66%|
|Dometic Group AB*||(STO:DOM.ST)||$6.80||$5.71||-16.03%|
|Emerald Holding Inc.||(NYSE: EEX)||$3.15||$3.83||21.59%|
|Fenix Outdoor International AG*||(STO: FOI-B)||$90.45||$79.85||-11.72%|
|Garmin Ltd.||(Nasdaq: GRMN)||$97.62||$88.49||-9.35%|
|GoPro Inc.||(Nasdaq: GPRO)||$6.36||$6.09||-4.25%|
|Helen of Troy Ltd.||(Nasdaq: HELE)||$133.79||$123.63||-7.59%|
|Johnson Outdoors Inc.||(Nasdaq: JOUT)||$67.31||$61.14||-9.17%|
|Newell Brands Inc.||(Nasdaq: NWL)||$20.21||$17.85||-11.68%|
|On Holding AG||(NYSE: ONON)||$21.77||$19.99||-8.18%|
|Samsonite International SA||(OTC: SMSEY)||$10.37||$12.24||18.03%|
|Solo Brands, Inc.||(NYSE: DTC)||$4.99||$4.15||-16.83%|
|Thule Group AB||(OTC: THUPY)||$13.76||$12.41||-9.81%|
|Vail Resorts Inc.||(NYSE: MTN)||$237.13||$224.68||-5.25%|
|VF Corp.||(NYSE: VFC)||$44.68||$41.45||-7.23%|
|Vista Outdoor Inc.||(NYSE: VSTO)||$30.10||$28.12||-6.58%|
|Wolverine World Wide Inc.||(NYSE: WWW)||$22.47||$19.54||-13.04%|
|Yeti Holdings Inc.||(NYSE: YETI)||$50.77||$36.89||-27.34%|
|OBJ Outdoor Index Total||$1,946.60||$1,887.42||-3.04%|
*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 — 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: Oliver 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
- 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, 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, and Osprey.
- 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
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
Solo Brands, Inc. (NYSE: DTC)
- Headquarters: Southlake, TX
- Outdoor Connection: The growing specialty company owns Solo Stove, Oru Kayak, Chubbies and water sports company Isle.
- Key Executives: John Merris, CEO; Samuel Simmons, CFO
Thule Group AB (OTC: THUPY)
- Headquarters: Malmö, 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: Kirsten Lynch, CEO
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 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 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, Stone Glacier, 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