Tuesday, May 01, 2007

This Week in The B.O.S.S. Report



o Jarden to acquire K2 Inc. for $1.2 billion.
o K2 sees balanced Q1 sales drive earnings.
o Coleman Q1 profits climb on lower sales volume.
o Deckers ups 2007 guidance on strong Q1.
o Gander Mountain goes green.
o Cabela's cashes in WV development bonds.
o Columbia Q1 profits jump on strong sportswear sales.
o OR and FFR find a new director.
o Johnson Outdoors first quarter profits slip.
o Amer Sports Q1 hit by winter sports slow-down.
o Exel restructures North American operations.
o Volcom's new product lines fuel double-digit Q1 gains.
o Timberland acquires eco-friendly skate brand.
o VF Corp. leverages outdoor strength in Q1.
o Other Stories include Mountain Hardwear, Cervelo,
Omega Pacific, Coalision, Quiksilver, Smartwool,
and many more...


To say it was a big week this week would be an understatement.

The newsletter was over 8,000 words with nine major public companies reporting, and quite possibly, the biggest acquisition the outdoor industry has seen in the past decade.

Some excerpts:

“The opportunity here is on two levels. At the retail level, it's in the specialty space and in the international channels. On the specialty side, I mean, there are some specific opportunities where we really do bring things to the table for K2, and there are some specific opportunities where they bring opportunities to us.”
-Jarden CEO, Martin Franklin


Salomon sales were down 10% during the first quarter and down 8% in local currencies. Salomon made the strategic decision to exit the in-line skate business last year, and sales would have been flat this year excluding those numbers from last year’s results. In spite of the decline in sales, the division’s EBIT loss was basically flat...


Mountain Hardwear sales grew 9.9% to $17.7 million during the first quarter. Mike Wallenfels, MTH president, told BOSS that Q1 2007 was the first quarter in which sportswear shipments surpassed outerwear shipments...


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