In The News: Under Armour, Snowsports Industries America, Oboz, 52 Hike Challenge
Under Armour realized 101 percent growth in Q2 North American sales to $905 million as the company continues to earn back shelf space with better sell-through rates, higher average selling prices (ASPs) and better gross margins. For FY21, UA’s North America business is projected to grow approximately 20 percent from FY20 and be about even with FY19. The forecast considers less off-price sales, lower discounts and promotions, tighter supply constraints and the exit of “undifferentiated” retail accounts starting in Q3. Under Armour wants to reduce its current 12,000-13,000 wholesale door count to approximately 10,000.
This week, Snowsports Industries America (SIA) announced its support of the Energy Innovation and Carbon Dividend Act, a carbon pricing bill in Congress.
The bill puts a fee on carbon emissions from coal, oil and gas which, over time, will drive down carbon pollution as energy companies, industries and American consumers will move toward cleaner, cheaper options. The funds collected from the carbon fee are allocated in equal shares to the American people to spend with no restrictions. To protect U.S. manufacturing, imported goods from countries without equal fees will pay a border carbon adjustment, and goods exported from the United States will receive a refund under this policy.
Oboz, Osprey and Outdoor Research launched the “Over 50 Outside” initiative in partnership with 52 Hike Challenge and In Solidarity. This supportive “Over 50 Outside” community will bring together women over the age of 50 who are passionate about the outdoors. To kick off the initiative, sponsorship will be offered to 150 women. The sponsorship includes monthly inspirational check-ins, gear advice, and fun perks from brand sponsors. The 52 Hike Challenge (52hikechallenge.com) is a global movement empowering individuals to take a personal journey to discover the physical, mental, spiritual and emotional benefits gained through hiking once a week for a year.