Marmot Cuts Six Positions, Including Two Vps

WEEK 1621 MAY 20, 2016

The Bicycle, Outdoor, and Snow-Sports Trade Newsletter

MARMOT CUTS SIX POSITIONS, INCLUDING TWO VPS

Marmot Mountain LLC confirmed it eliminated six positions, in- Welling joined Marmot as director of sales in 2006 before Newell Brands has said it will leave Jarden’s operating struc- cluding two vice presidents, last week as part of a restructuring being named VP of sales in 2010. Before that he was corporate ture largely unchanged for the balance of 2016, during which following the April 15 acquisition of its former parent company sales manager at Patagnoia and held sales positions at The North Jarden and Newell Rubbermaid commercial operations will Jarden Corp. by Newell Brands Inc. Face and Kelty. Fritz had worked with the company 18 years. continue to run independently of each other. However, the Marmot Vice President of Sales Andy Welling and Vice A spokesman for Marmot declined to confirm the identities of new company also named a new executive leadership team President of Marketing Tom Fritz were among those let go, a any of the other affected employees. April 15, including Chief Transformation Officer Russell Tor- company spokesperson confirmed. “We appreciate and respect the years of dedication those indi- res, that is charged with delivering $500 million in cost savings “On May 10, we restructured many areas of the Marmot busi- viduals put into the Marmot brand, and we wish them the very over the next four years. ness,” the company said in a statement released to The B.O.S.S. best during the transition,” the company said. Jarden’s Outdoor Solutions segment includes Coleman, Report. “This restructure was made to address and reflect the The cuts represent the latest changes at Marmot since New- K2 Sports, Rawlings and a dozen fishing brands that needs of today’s dynamic marketplace and will enable us to: ell-Rubbermaid Inc. announced its plans to acquire Jarden for together generated $2.74 billion in sales in 2015, or roughly • Create a deeper connection with the ever evolving outdoor $13.2 billion in stock and cash in December 2015. In January, Jar- 17 percent of Newell Brands’ projected 2016 revenue. consumer den hired industry veteran Joe Flannery as Marmot’s first general While Jarden did not break out sales for its more than • Be more nimble in the rapidly changing global retail land- manager to take over day-to-day operations from Mark Martin, 50 sporting goods brands and businesses, its executives scape who remains CEO of Jarden’s Technical Apparel division, which said two years ago that Marmot was working toward more • Leverage our new technology platform to better service and also includes ExOfficio and Zoot. Martin had served as president than doubling its annual sales to at least $400 million as early support our retail and distributor partners.” of Marmot for 12 years. as 2017.

SIA DROPS PLAN FOR EARLIER SHOW DATES

Group Publisher & Creative Director Teresa Hartford [email protected] 303.997.7302 SnowSports Industries America (SIA) announced May 19 that it would drop plans to move its annual trade show up nearly two months Editorial Director Associate Editor | Sports & Fitness Editor David Clucas Jahla Seppanen to early December, deciding to keep the show at its previous late- [email protected] [email protected] 303.578.7007 303.578.7008 January time frame.

Senior Business Editor Media Sales “After engaging in comprehensive meetings with stakeholders and Tom Ryan Buz Keenan listening to members of the SIA community, SIA President Nick Sar- [email protected] [email protected] 917.375.4699 201.887.5112 gent and the Board of Directors came to a unanimous decision that it

Senior Business Editor Circulation & Photo courtesy Lenzing AG and Markus Renner, Electric Arts is in the best interest of the industry to maintain the late January show Charlie Lunan Subscriptions [email protected] [email protected] dates henceforward,” SIA officials said in a statement. 704.996.4463 303.997.7302 Lenzing, a leading supplier of wood-based fibers used in “The focus of my first four months in the role of president has been athletic and outdoor apparel, expects profits to improve sub- to listen to the feedback and opinions of our members and stakehold- Art Director Chris Loving-Campos stantially this year, despite low prices for competing cotton and ers. The countless conversations I’ve had made it clear that a reevalu- [email protected] petroleum-based synthetic fibers. ation of the schedule was necessary,” Sargent said. “SIA’s priority is to The Austrian company said that while high cotton invento- do what is best for the future of the snow sports industry and a shift SGB Media Print Magazine: SGB Magazine ries and low oil prices continue to put downward pressure on cot- back to the January timeframe was an appropriate decision.” Digital Magazine: SGB Weekly ton and polyester selling prices, “a balance between supply and According to Bob Gundram, chair of SIA’s Board of Directors, and Executive Newsletters: Sports Executive Weekly, The B.O.S.S. Report, SGB Executive demand should prevail in the market segment of wood-based cel- CEO of C3, “it is our goal to make the show accessible, accommodat- Email Updates: SGB Today lulose fibers.” In particular, Lenzing expects a strong increase ing, and financially feasible to everyone involved in the snow sports Daily Emails: SGB Update, SGB Apparel, SGB Footwear, SGB Outdoor, SGB Sportsmans, SGB Sports & Fitness in demand for its specialty fibers, which are marketed under community. Concerns about the initial date shift, in tandem with an inconsistent snow season, made it necessary for SIA to provide a new SSIData Tencel and Modal and other brand names. SSIData.com Assuming unchanged conditions on the fiber market and solution.”

Career Services currency exchange rates, Lenzing remains confident it will report sub- In his first quarter as president, Sargent has openly prioritized SIA’s SGBJobs.com stantial improvement in earnings for the entire financial year 2016 mission to further establish itself as a year-round resource for the in- compared to 2015. dustry, engaging as an active listener and shaping decisions from con- Lenzing reported its earnings before income taxes, depre- versations it has had over the past few months, officials said. ciation and amortization surged 54.7 percent to €92.2 million The B.O.S.S. Report is published 50 weeks per year and delivered via in the first quarter, due mainly to strong demand for its cellu- Dates for the upcoming seasons’ SIA shows are scheduled as follows: e-mail the first day of each business week. Articles and subscription info can also be accessed daily at SportsOneSource.com losic, or wood-based fibers. Revenue increased 8.1 percent to

The B.O.S.S. Report is protected under all applicable copyright laws and €512.8 million compared with the first quarter of 2015. • 2017 Snow Show: January 26-29, 2017 at the Colorado Conven- is intended for the sole use and benefit of the subscriber. Any attempts In the third quarter, Lenzing expects to announce projects to in- tion Center in Denver, CO to copy, alter, distribute or otherwise transfer content of this copyrighted material, in whole or in part, is strictly forbidden. crease its fiber production across its three new operating groups, • 2017 On-Snow Demo: January 30-31, 2017 at Copper Mountain which include: Lenzing Europe & Americas; North Asia (China, • 2018 Snow show: January 25-28, 2018 at the Colorado Conven- Powered by Japan, Korea, Taiwan and Vietnam); and AMEA (Asia excl. North tion Center in Denver, CO Asia; Middle East and Africa). • 2018 On-Snow Demo: January 29-30, 2018 at Copper Mountain 1075 E. South Boulder Road • Third Floor • Louisville • CO • 80027 SportsOneSource.com | 303.997.7302

Unable to find a PE firm or rival willing to According to court documents, the closing may be assumed by secured lenders who won’t by expensive leases, a decision to exit the tackle another attempt to resuscitate the chain, sales for the remaining stores will commence on be cashed out by the inventory liquidation. hunting and fishing markets in all new and Sports Authority appears headed for a full-scale or about May 25 and will terminate on or about Those lenders, owed $277 million, include remodeled stores, and reduced demand in the liquidation and the shuttering of all its doors. August 31, subject to Sports Authority’s rights Blackstone Group’s GSO Capital Partners, golf category. On May 16, a group of liquidators won the to seek extension. Wellington Management and Columbia The chain’s many mergers and acquisitions right to conduct going-out-of-business sales Rival sporting goods chains were also expect- Management Investment Advisers. also resulted in “inconsistent store formats at the bankruptcy auction for the assets of ed to be competitive in the bidding but their The Denver Broncos team is contesting the across the chain,” according to court docu- Sports Authority. The winning trio was made of actual bids were minimal. Prior to the auction, transfer or sale of those stadium-naming rights ments. The current Sports Authority is a result Tiger Capital Group, Hilco Global and Gordon Dick’s Sporting Goods reportedly submitted a and sponsorship without its consent. of the 2004 merger of Gart Sports, which was Brothers. bid for less than 20 stores, while Modell’s was Other assets for sale could be its various based in Denver, and Sports Authority Inc., Tiger Capital and Gordon Brothers were seeking just a handful of locations, according private labels: Tommy Armour (golf), RAM based in Fort Lauderdale. Gart Sports expand- already retained earlier in the case to handle to the Wall Street Journal. On Tuesday, Dick’s Golf (golf), Alpine Design (outdoor), Aspire ed rapidly through acquisition, including Osh- ongoing liquidation sales at 140 stores Sports Sporting Goods increased the number of stores (yoga), Bloom (yoga), Classic Sport (athletic), man’s in 2001 and Sportsmart in 1998. Sports Authority had initially decided to close. It owns on which it would bid to about 30 locations, Oxide (surf & swim), Slalom (snow sports) Authority also bought Copeland’s Sports after a total of 463 stores. sources told the Journal. and Trayl (bike). the California chain in 2006 filed for bankrupt- The winning bid amounted to 101 percent Academy Sports & Outdoors, which also was Sports Authority has also accumulated shop- cy. Gart Bros. started out in Denver, CO in 1928. of the cost of Sports Authority’s inventory, plus touted as a potential major bidder, apparently per data from its customer loyalty program, The bankruptcy process has been hurt by a $1.8 million augment guarantee. The funds didn’t make a formal bid. which was launched in 2012 and currently tensions among vendors, landlords and cred- raised are only expected to be able to repay The Journal reported that in total, about boasts 28.8 million members. Approximate- itors. Soon after filing for bankruptcy in early Sports Authority’s two top lenders. These cov- 80 store leases received bids, with other retail- ly 20 percent of Sports Authority’s customers March, Sports Authority filed lawsuits against er an asset-backed loan worth $345 million ers such as Bob’s Discount Furniture LLC and drive 62 percent of its sales, the company noted some 160 of its suppliers over consignment when Sports Authority filed bankruptcy in Orchard Brands Corp. also seeking small sets of in court documents. sales totaling $85 million worth of merchan- early March as well as a separate $95 million locations. An auction for the retailer’s remain- When it initially filed for bankruptcy, Sports dise. Vendors have argued that they should be secured loan. ing store leases will be held on June 29. Bids are Authority’s lenders gave the company until the paid when items are sold under consignment In the initial Chapter 11 filing, Sports due by June 23. end of April to reorganize or find a buyer for arrangements rather than lenders getting first Authority listed $1.1 billion in debt, including A week before the auction, Modell’s walked some or all of its assets to avoid liquidation. priority over such funds. Vendors had been more than $717 million in bank loans, and away from a deal that would have kept some of The deadline was subsequently extended to accused of withholding shipments to the chain about $179 million in trade debt, or debt owed Sports Authority’s stores open as the two sides mid-May. and undermining reorganization efforts. to suppliers. The top-three holders of unsecured couldn’t agree on a price. Term-loan lenders The struggling sports retailer, backed by pri- Sports Authority’s imminent shut down trade claims were Nike Inc., owed $47.9 million; had pushed the company to liquidate its stores vate-equity firm Leonard Green Partners & Co., would represent the largest disruption in the Asics America Corp., $23.3 million; and Under since they felt their recovery potential would be has been weighed down by more than $1 billion sporting goods space since Herman’s Sporting Armour Inc., $23.2 million. better than with Modell’s offer. in debt. Leonard Green acquired the company Goods exit in the mid-nineties. Dick’s Sporting According to documents filed in Delaware’s Sports Authority Inc.’s name, and its naming in a $1.3 billion leveraged buyout in 2006. Goods and Academy Sports are expected to bankruptcy court, the second-highest bid rights for the Denver Broncos stadium went Other causes of the bankruptcy included benefit but the industry overall is facing more came from a joint venture of another group unsold at the auction Monday and will also be heightened competition from traditional and pressures from non-traditional sellers such as of liquidators: SB Capital Group, The Great available at the second auction for remaining internet retailers, an underdeveloped online Amazon and other online retailers as well as American Group, 360 Merchant Solutions, and assets. Bloomberg said the Sports Authority platform, outdated information systems, un- more department stores and other mainstream Yellen Partners. name and all of its other intellectual property derperforming retail locations encumbered stores stocking more active products.

3 B.O.S.S REPORT | MAY 20, 2016 © SportsOneSource, LLC portsOneSource has announced the The 40 recipients were selected by SportsOneSource, parent company of for 2016, and it is our pleasure to honor Saward honorees for the ninth annu- a panel of SportsOneSource analysts, SGB Media. the next generation of leaders.” al SGB 40 Under 40 Awards. editors and industry executives from “The extraordinary and diverse talent This year’s group will be feted at a This year’s class contains individuals more than 400 nominations received. nominated again this year made it diffi- private event in during the Outdoor from all corners of the sporting goods “These awards are a way to recog- cult to narrow the list to just 40 people. Retailer Summer Market in August. The and active-lifestyle industry, who are nize the great work done by younger We drew very strong support from past honorees will also be featured in the 40 recognized as leaders making a differ- leaders in our industry,” said James honorees and other industry leaders to Under 40 Spring issue of SGB Magazine, ence in their businesses and the market. Hartford, president and CEO of select a prestigious group of individuals publishing in June. 2016 AWARD HONOREES

• Kurt Ainsworth, CEO & Co-Founder, Marucci Sports • Kim Lewis, VP Omni-Channel, Golfsmith International • Brian Beckstead, Founder & VP Sales, Altra • Aaron Liebert, CEO, Rally House • Ellyn Biedscheid, CFO, Hydro Flask • Jason Lippenberger, Vice President, D.A. Davidson & CO. • Courtney Blacker, Director, Brand Marketing, The North Face • Josh Luber, Founder, Stock X • Robert Bowers, VP Strategy, Total Hockey, Inc. • Katie Meizer, Director, R.W. Baird • Colin Butts, Marketing Director, Chaco • Megan Morrissey, VP Marketing, Thule • Ken Chandley, Senior Category Manager, Nations Best Sports • Brian Murphy, VP Corporate Development, Vista Outdoor • Nikolai Christensen, VP Product, Keen Footwear • Spencer Orr, VP Design & Merchandising, Canada Goose • Scott Contway, Buyer, Dunhams Sporting Goods • Kelly Olmstead, Senior Director of Marketing Communications, Adidas • Adam Craig, Director, National Sales, Columbia Sportswear Company • John Peters, Senior Director, Sales & Member Services, SFIA • Kathy Dalby, Owner & CEO, Pacers Running • Joe Prebich, Director of Marketing, Fjallraven North America • Katie Darling, Senior Director, Merchandising, Puma North America • John Sears, VP Product Development & Design, Gregory • Jennifer Farmer, Director, Merchandising & E-commerce, Crocs, Inc. • Jennifer Shea, National Sales Manager, Honey Stinger • Willie Ford, Managing Director, POC North America • Peter Shean, VP Sales, Hi-Tec, Magnum USA • Golden Harper, Founder & Product Development, Altra • Tsedo Sherpa, COO, Sherpa Adventure Gear • Wendy Hofstetter, Senior Director E-Commerce, The Finish Line, Inc. (JackRabbit) • Davis Smith, Founder & CEO, Cotopaxi • Jeremy Howlett, Co-Founder & Marketing Social Media, Altra • Lindsey Sweeney, DMM, Athletic Footwear, Academy Sports & Outdoors • Grant Knudson, Global Head Footwear, Puma Golf • Sarah Townes, VP Marketing, Gander Mountain • Russell Laeding, DMM, Stream, Academy Sports & Outdoors • George Ward, CFO, OluKai • Brandy Lamb, Senior Brand Manager, Mountain House, OFD Foods • Claire Wood, Product Line Manager, New Balance

4 B.O.S.S REPORT | MAY 20, 2016 © SportsOneSource, LLC GIANT REPORTS U.S. IBD GLUT NEW OVERTIME RULES CONTRIBUTED TO LOWER WILL RESTRUCTURE PAY FOR MANY INDUSTRY EMPLOYEES FIRST QUARTER SALES

Giant Inc. said a glut of some high-end bicycles in the United States and weak demand in China resulted in lower first quarter In the active-lifestyle industry, where many work countless extra At the same time, the organizations acknowledged there’s sales and profits and are likely to result in flat sales in 2016. hours for the passion of the job and/or cause, new federal over- little they can do as current law allows the Labor Department “Considering soft global economy, fluctuations in foreign time rules are likely to have a big effect. to establish rules to enforce the Fair Labor Standards Act. exchange, high inventory levels and weak domestic demand in The U.S. Department of Labor announced May 18 that it will As a result, it is not a legislative issue, but federal administra- China, 2016 will be a challenging year,” the Taiwanese bicycle more than double the minimum annual salary that companies tive one. manufacturer said. will have to pay their employees to $47,476, in order for them to “We want our members to be prepared for this new rule Giant reported consolidated group revenue, which also reflects be exempt from time-and-a-half overtime pay. and have plans in place to adapt to these changes by the De- its OEMs sales, slipped 1.4 percent to NT$14.35 billion compared The law, under the Fair Labor Standards Act, goes into effect cember 1 implementation date,” NSGA President & CEO Matt to NT$14.58 billion in the first quarter of 2015. Net income before December 1, 2016. Carlson said. taxes was NT$1.08 billion, down 9.1 percent from NT$1.19 bil- The minimum annual salary previously stood at $23,660, to And that’s where the biggest burden will fall on companies, lion. Net income after taxes reached NT$855 million, a decrease which an increasing amount of complaints, some legal, began the organizations said. Having to figure out new compensation of 9.8 percent from 2015’s NT$947 million, EPS at NT$2.28. to arise that businesses were taking advantage of the low wage structures and likely increased tracking of overtime pay. Giant’s own brands achieved satisfactory sales growth in to deem their employees “managers,” work them more than Options for businesses who employ salaried workers making Europe, Canada and Australia. However, U.S. sales of its Giant 40 hours per week and avoid paying them overtime. less than $47,476 a year could include: and Liv bikes were flat compared to the same period of 2015 The new $47,476 annual pay (or $913 per week) minimum due to the current high inventory level within the overall bicycle was based off the 40th percentile of earnings of full-time sala- • Keeping the employee below the minimum, but limit their market. In China, sales came in below target due to a “weak ried workers in the lowest-wage U.S. Census Region, currently work to 40 hours per week. domestic market.” the South. That figure will adjust, based on inflation, every three • Keeping the employee below the minimum, but track their Giant projects total sales for the group in 2016 will remain flat years. overtime hours and pay time-and-a-half based off their annual as e-bike sales to Germany, France and The Netherlands offset Simply put, the change will require companies to pay their full- salary. lower sales in the United States and China. time workers overtime if they make less than $47,476 per year • Changing the employee to hourly wages, tracking all their While saying its U.S. inventory levels are more favorable than and work more than 40 hours per week. It will affect thousands, hours, and paying overtime for more than 40 hours per week. its competitors, Giant expects relatively high bicycle inventories if not millions, especially younger workers in the active-lifestyle • Raising the employee’s annual salary to more than $47,476 to hurt its U.S. sales performance in 2016. It also expects the mar- industry working shop floors and entry-level jobs. per year to avoid overtime pay. ket correction to continue in China. The National Retail Federation (NRF) strongly condemned Giant’s 2015 net profit after tax was NT$3.84billion, EPS the new rule, calling it a “career killer.” Even if the latter route is chosen, officials note there’s still a NT$10.25. The company’s shareholders will vote at their annual The National Sporting Goods Association (NSGA) said it ob- means test to the work that an employee does to be exempt from shareholder meeting June 22 on a proposed dividend payout of jected to the rule during the comment period earlier this year, overtime pay. NT$6.20 per share. adding it “will have a serious negative impact on employers.” More information on the final rule can be found here.

5 B.O.S.S REPORT | MAY 20, 2016 © SportsOneSource, LLC TJX CEO AISLE TALK WANTS TO TONE DOWN PROMOTIONS AT SIERRA TRADING POST Abom, Inc., which obtained 10 patents related to its battery-powered, anti-fogging technology for goggles, TJX Companies Inc., which continues to outperform its full- 5 percent increase a year earlier. Gross profit rose 50 basis hired former Smith Optics President Ned Post as an advisor. price rivals, wants Sierra Trading Post to become less promo- points to 28.8 percent and SG&A grew 70 basis points to tional, President and CEO Ernie Herrman said May 17. 17.7 percent of sales. Net income reached $508 million, or Bolt Threads, an American-based biotechnology company “We’re pretty bullish on the Sierra Trading Post business 76 cents per diluted share, up 10 percent over the prior year that is working with Patagonia to commercialize synthetic longer term,” said Herrman, who succeeded TJX Chairman and well beyond the 71 cents consensus estimate of Wall Street. silk and other next-generation fabrics, has raised $50 million in Series C financing. Carol Meyrowitz as CEO January 31. “We just want to get it TJX expects comp store sales to slow to the 2 to 3 percent into more of our philosophy of business to be less promotion- range in the fiscal second quarter. Although its expects for- Cabela’s Inc. honored four of its suppliers with Vendor of al. We’re trying to get out of the wild promotional up-and- eign currency headwinds and rising wages to trim earnings the Year Awards, including Vortex Optics, Benelli USA, St. down swings because that is not the way we like to market per share (EPS) by 600 basis points during fiscal 2017, it Croix Rod Company and Sitka Gear. retail goods.” raised that guidance to reflect the strong first quarter. It now According to DestiMetrics, occupancy and revenue set The comments came in a call to discuss TJX’s impressive expects fiscal 2017 EPS of $3.35 to $3.42, which would repre- all time records at Western U.S. mountain resorts during the fiscal first-quarter results, which further distanced the com- sent an increase of 1 to 3 percent from fiscal 2016. TJX opened 2015/16 winter season, surpassing the previous record set in pany and its off-price model from the struggling department its 500th store in Europe during the fiscal first quarter. the 2007/08 winter season. store channel. TJX operated more than 2,800 off-price stores “The wage situation is a little ambiguous out there,” Fishpond Founder John Le Coq was recognized for his under the T.J. Maxx, Marshalls and HomeGoods banners by Herrman said, referencing plans to increase the hourly wage commitment and contributions to the environment as one the end of the quarter. to $15 in several U.S. cities. of four nominees for the Pegasus Foundation Wings award. TJX is further strengthening Sierra Trading Post’s merchan- Though department stores are devoting more space to dis- dising and planning team to spur profitable growth and pos- continued and clearance merchandise, Herrman said the scale Governor John Hickenlooper signed Colorado’s Public Lands Day bill establishing the third Saturday in May as a sibly make the clearance outlet for discontinued and surplus and expertise of the TJX buying team and the company’s sin- holiday to celebrate the state’s public land. outdoor apparel, footwear and gear into its fourth major retail gular focus on the off-price model present considerable barri- chain. ers to entry for any would-be competitors. Ibex Outdoor Clothing, Patagonia and Keen have been TJX has expanded Sierra Trading Post from two to eight “We have a world-class global buying organization with named winners of The Conservation Alliance’s Outstanding brick-and-mortar stores since acquiring it for $200 million in over 1,000 associates located in 11 countries across four con- Partnership Award for 2016. December 2012. It’s also invested millions doubling the size tinents,” Herrman said. Pacific Cyclerecalled about 129,000 infant bicycle helmets of the fulfillment center at the company’s headquarters in Herrman said going-out-of-business sales and auctions of sold at Target because components of their magnetic “no- Cheyenne, WY, and said it would expand to 10 retail locations leases by bankrupt retailers Sport Authority and Sport Chalet pinch” buckle can come lose and be swallowed. this fall. could benefit all of its banners in terms of both merchandise Salewa North America, which distributes Dynafit, Salewa, Hermann said that while Sierra Trading Post’s new stores and real estate. Wild Country and Pomoca brands, appointed Brian adhere to TJX’s less promotional cadence, sierratradingpost. “But that won’t be just for Sierra Trading Post,” Herrman Mecham as its new General Manager. com remains more promotional. said of the leases. “That will actually also be for potentially “We just need some more TJX-ing of the business which Marmaxx sites or HomeGoods sites, because you never know, SmartEtailing and Harvest Retail Marketing merged to offer a richer mix of service offerings and enhancements to the we’re continuing to do,” Herrman continued. “We are really based on some of those markets.” bicycle industry. getting more involved there with how we’re educating that TJX ended the quarter with inventory valued at $3.9 billion, team, and we’re making some moves to really take it to the up $500 million from a year earlier, and cash and cash equiv- Summit Sports unveiled a new Austin Canoe and Kayak next level. We would be very pleased if we could eventually alents of $1.94 billion, down 14 percent compared with store-within-a-store concept at its Brighton, MI location, roll this out as a fourth major U.S. chain. May 2, 2015. featuring an expanded selection of kayaks, SUPs and related accessories. TJX reported net sales grew 10 percent to $7.5 billion in “We see a marketplace loaded with quality branded the first quarter ended April 30 thanks to new store open- merchandise and have the liquidity to take advantage of the The Mountain Lab named Shannon Walton, who spent the ings and a 7 percent increase in same-store sales on top of a opportunities,” Herrman said. last decade directing PR and Marketing for Schoeller Textil USA, as its new Brand and Creative Manager.

6 B.O.S.S REPORT | MAY 20, 2016 © SportsOneSource, LLC INTERSPORT INTERNATIONAL INC. NAMES AMER SPORTS EXECUTIVE AS NEXT CEO

Intersport International Inc. (IIC) named Amer 7 percent, of the company’s sales in 2015. The Sports’ top marketing and retailing executive company ended the year with 293 branded and West Point graduate Victor Duran as its retail locations equally distributed between Actionable Weekly Sales Trend first new CEO in 16 years. EMEA, the Americas and Asia Pacific, up Reporting for the Active Duran, 49, resigned as Amer Sports se- 43 from the end of 2014. Nearly six in 10, or nior vice president of marketing and busi- 57 percent, of those were operated by local, in- Lifestyle Market ness-to-consumer and from its executive board dependent partners. Amer Sports also added To schedule a personal demo or to learn more May 17 to prepare for the role. He will begin 11 online stores, bringing its total to 71. about the SSI Data Point-of-Sale trend-reporting working with current CEO Franz Julen at IIC’s The bulk of IIC stores are also operated by platform, contact SportsOneSource Client Solutions at 303.997.7302 or email [email protected] headquarters in Bern, Switzerland October 1 franchisees, although the company has no pres- or visit SSIData.com before taking the reins January 1, 2017. ence in the Western Hemisphere outside of As IIC’s CEO, Duran will oversee the world’s Canada, where 32 of its 44 Intersport branded largest sporting goods retailing organization. stores operate in Quebec. More than 5,320 Intersport’s branded stores “Victor Duran knows the sporting goods in 45 countries generated revenues exceeding market and our consumers very well,” said IIC €11 billion in 2015. That’s nearly four times the Chairman Jussi Mikkola. “We have been con- $2.8 billion in sales generated by Amer Sports, vinced by his track record at Amer Sports, in which owns the Salomon, Wilson, Atomic, particular in areas such as retail, digital, e-com- Arc’teryx, Precor, Suunto and Mavic brands. merce and marketing. Having lived and worked Born in Mexico, Duran moved to the United in several countries and speaking four languag- States at the age of 11. After graduating West es, he also has the human skills required and an Point, he served as an officer in the U.S. Army, understanding for different cultures.” where he was stationed in Germany for three Amer Sports announced May 17 that it had years. He earned an MBA in International Busi- appointed Michael White - chief sales officer ness and Marketing at the University of North and general manager, EMEA and Americas - Carolina before embarking on a business career as its chief commercial officer with the addi- that included working seven years for Procter & tional responsibility for the company’s global Gamble in Switzerland and the United States, five business-to-consumer and go-to-market mar- years as general manager of marketing EMEA for keting in addition to his current regional re- Caterpillar and two years working with consult- sponsibilities. ing firms Hothouse in Switzerland and Zyman “Over the past six years under Victor Duran’s Group in the United Kingdom. In addition to leadership we have transformed Amer Sports English, Duran speaks Spanish, French and Ger- into a leading omni-channel company with man. He grew up playing soccer and tennis and world-class e-commerce and digital consumer is an avid skier, cyclist and runner. engagement and capabilities,” said Amer Sports Under Duran’s leadership, Amer Sports in- President and CEO Heikki Takala. “Combining vested approximately €35 million last year ex- our go-to-market under one leadership will en- Powered By panding its direct-to-consumer business, which able us to accelerate with further scale and syn- generated nearly $200 million, or approximately ergies in our commercial operations. SportsOneSource.com | 303.997.7302