Cash was tight in 2022鈥斺€攁nd my budget for buying new outdoor gear was nonexistent. Thus, I relied heavily on trusty reliables, some freebies, and stuff I bought used or at a steep discount. I spent way too much time scrolling through listings on Facebook Marketplace and Craigslist this year. I lowballed. I bargained. I circled back again and again. But the听 work paid off, as some of the items I used the most were acquired through shameless haggling.

And that is the thru-line that connects my ten favorite products from the year. This is the stuff that got me through skiing, cycling, and hiking seasons, and helped me enjoy precious outdoor time with my three-year-old daughter. It鈥檚 also stuff that I can scrutinize with my inner accountant and feel good about having either purchased or held onto. Because in 2022, I got my money鈥檚 worth.

Prana Red Slate Vest ($185)

As you may know, those lucky few of us who work in outdoor media benefit from a freebie piece of gear or apparel from time to time. This past spring I arrived at our headquarters in Boulder, Colorado, to find that an editor from a different title had dropped footwear and apparel from a recent gear test on the 鈥渇ree鈥� table in the cafeteria. I grabbed the stylish , and since then it has become part of my regular repertoire (yep, those stains in the photo are authentic). I鈥檓 a vest guy, and I love this one for its versatility. It has vintage Marty McFly puff matched with a contemporary color scheme that make it appropriate outerwear for a night on the town. Plus, its insulation and PFAS-free water repellent coating make the vest great for cold and camp conditions, and there鈥檚 plenty of pocket space with six total pockets (two of which are zippered). Yes, I scored this vest for free, but after using it heavily听I would buy it retail.

Thule Yepp Maxi Rack Mounted Child Seat ($249)

Earlier this year I got a Radwagon 4 electric cargo bike for carting my daughter around town, and I started researching which seats to buy. I had been stockpiling gift cards from REI, and in the fall I plunked down the $279 for a new version of the child seat with a rack mount (note: don鈥檛 buy the frame mount version if you own a cargo bike). I was bummed when I was unable to get the Maxi Nexxt鈥檚 mounting jaws to work with the metal cargo cage on my Radwagon 4鈥攖hey wouldn鈥檛 fit into the square-shaped hole in the bike鈥檚 built-in ack. (A Thule rep told me that the seat and its clamping system does work with the Radwagon 4, but I couldn鈥檛 figure it out). Luckily, REI has a friendly return policy, and I was able to get a refund. But we still needed a seat.听I found someone on Craigslist selling a 2020 edition of the original seat (not the Maxi Nexxt), and haggled the price down to $150. The mounting system for this seat is a rectangular-shaped box that simply drops into the Radwagon 4 rack and then tightens. It鈥檚 been ideal for our trips to and from my daughter鈥檚 preschool, and it gives me the presence of mind that my most precious cargo is safe and secure.

Shotgun Child Seat + Handlebars ($135)

My wife bought me the by Kids Ride Shotgun last Christmas鈥攖hanks honey!鈥攁nd it has transformed my life as a parent who craves outdoor adventures with my child. As many parents know, getting your kid to enjoy an outdoor activity is a lesson in patience and frustration. We鈥檝e done hikes with my three-year-old daughter where our turnaround point was well within sight of the car. The Shotgun enabled us to go on long rides that span hours, and take us far away from the parking lot and trailhead. My daughter loves riding in the front of the bicycle due to the vantage point it gives her. The plush seat is cushy enough for small to moderate bumps, and the kid handlebars give her something to grip onto for the twists and turns. Note: It only works with a mountain bike. As with most outdoor kids gear, your results may vary, but my experiences with the Shotgun Child Seat + Handlebars thus far have been extremely positive. Just remember that the seat and handlebars don鈥檛 include the most important component of any outdoor adventure with your kids: snacks.

Trek X-Caliber 9 ($1,929)

I’ve bought and sold used bikes online for decades, and am keenly aware of the frustrations that are present on both sides of the exchange. Everyone wants the best price, and few sellers are willing to budge. This year I was looking to purchase a hardtail mountain bike for my daughter’s Shotgun seat. I was shocked by the high asking prices on Facebook Marketplace. After a few whiffs, tried a new buying strategy: I would message a seller, praise their item, and immediately admit that I could not meet the asking price. Instead, I鈥檇 tell them the ceiling of my budget, acknowledge that it was below asking, and then simply say that my offer would stand if no buyer met their price. Then, I鈥檇 wait. It took a few weeks for this strategy to bear fruit, but I was patient. Eventually it worked, and I purchased this (with a dropper post) for under $1,000. The 100 millimeter fork and tubeless tires offer more than enough cush to enjoy the buffed out trails I ride in Summit County, Colorado. The frame geometry works well with the Shotgun seat, and I’ve taken my daughter on multiple long trail rides deep into the backcountry. Sure, I鈥檝e found myself wanting the forgiving squish of a dual-suspension bike from time to time, but this hardtail works for me鈥攁nd my pocketbook鈥攔ight now.

Banjo Brothers Small Handlebar Bag ($20)

Have you ever accidentally left a metal multitool in your jersey pocket and then sent it through the 鈥淗eavy Duty鈥� cycle in your tumble dryer? I have, a few times, and it makes your laundry room sound like a gravel quarry. I promised my wife I would stop damaging our home appliances with bike parts. So, earlier this year I purchased the (at $20, the cheapest handlebar bag I could find), as a way to permanently remove the gear from my pockets. I chose this bag because it has a rigid liner that provides the bag its cylindrical shape. I’ve used soft-sided handlebar bags in the past, and on both occasions the rattling of the bag鈥檚 metal contents actually chipped paint from the head tube. I鈥檝e had zero problems with rubbing or paint chips with this. More importantly: I have yet to dent the washer or dryer with my bike stuff.

Dynafit Mercury 2 Pants ($199)

For several years, outdoor brands Dynafit and Salewa liquidated their samples and excess inventory at an outdoor garage sale here in Boulder, Colorado. These events were like Christmas for me, and over the years I picked up an entire gear closet鈥檚 worth of backpacks, shoes, jackets, and other stuff. In 2015 I purchased a pair of Dynafit skimo pants, and wore them for a wide-range of outdoor activities, from high-altitude hikes, to warm-weather ski sessions. In January, these pants finally blew鈥攐ne of the welded seams tore apart. I鈥檓 part of a Facebook group called SKIMO GEAR SWAP AND FORUM, and sure enough, I found someone selling a lightly used pair of for less than $100. These pants immediately replaced the old ones as a versatile garment that can be comfortable for a wide range of activities. They are my go-to for my sunrise skimo sessions. When I wear an insulated base layer, these pants are more than up for a day of resort skiing as well, so long as temperatures don鈥檛 dip below 10 degrees Fahrenheit. After one ski session, I even wore these pants out for an evening in Boulder鈥攁nd I wasn鈥檛 the only one wearing them.

Black Diamond Element Hoody ($230)

Like听 many of the other items on my list, I purchased this one on Facebook Marketplace. The tags were still attached, and the buyer said he’d simply bought the wrong size for his torso. My is threadbare and covered in “forever” stains鈥攁 testament to how often I have worn it over the last two seasons. Had I kept track of my outfits, this would be my most-worn garment, by a wide margin. It kept me warm and dry during my pre-dawn patrol skimo sessions in the winter, and comfy in those variable shoulder-season conditions in the spring and fall. I even wore it during a 95-degree day in rural Kansas, as the fibers vented my body heat while protecting my neck and arms from the beating sun. And here in Boulder, Colorado, where performance outerwear counts as appropriate evening attire, this hoody has been my outfit of choice for social events as well.

Goodr Mint Julep Electroshocks ($35)

I learned long ago that fancy and expensive sunglasses are not my jam. I lose them, crush them, or scratch the lenses. In recent years, I’ve bought cheap ones from gas stations, or purchased name-brand glasses used. That was before I discovered Goodr, the consumer-direct eyewear brand that makes just-good-enough shades with contemporary styles for bargain prices. The size fit my large noggin perfectly. Are these glasses going to allow me to spot a smallmouth bass in low light from the bank of a river? Probably not. Will they block every ray of ultraviolet light from entering my eyeballs? Who knows? Will I feel bad when I eventually sit on them or back them over with my car? Nope. I鈥檓 already on my second pair of them鈥攖he first disappeared when I dove into a foam pit during a toddler birthday party. But the glasses are just $35 and they look great. I can tolerate buying another pair.

Shimano XC7 MTB shoes ($230)

I鈥檓 infamously finicky when it comes to cycling footwear. My long (size 13) and narrow foot is a tough ask for most brands, so when I find a shoe that fits, I tend to wear it until the sole literally comes off. This is what happened in June to my previous cycling shoes, a pair of size 45 Shimano XC5 lace-up kicks from 2016. These shoes were so blown out that I had cut new eyelets in the upper to accommodate the laces (the original lace holes tore). I was bummed to learn that Shimano discontinued the lace-up version of is XC5, and I also experienced some sticker shock when I saw the price tag for the new lineup. But I found a seller in the midwest liquidating his set of Shimano mountain bike shoes from 2020 on Ebay, and I purchased a pair new for well below MSRP. I like the for its stiff sole, with great power transfer to the pedals. Plus, the bottoms have a Goodyear rubber coating, which gives you plenty of grip on slippery rocks. I have broken plenty of Boa closure systems in my day, but after one year of use, the one on my pair of XC7 shoes is still going strong.

My Local Bike Shop (Priceless)

In December, 2021, my community was devastated by an urban wildfire, which burned more than 1,000 structures and left even more families either homeless or stranded. My local bike shop, , became a hub for the recovery. The shop asked customers to donate used bicycles in any and all conditions, and the mechanics fixed up the rigs and gave them free to anyone who lost a bike in the blaze. I鈥檝e been a regular at the shop for a few years, and throughout the winter and spring I marveled at how the shop became a social hub for cyclists who suffered from the fires. People just hung out at all hours of the day to chat with the sales staff and mechanics. It felt like a clubhouse. This community effort is just one of the many reasons why I love Louisville Cyclery, which has operated since 1980. Greg Jones, the owner, remembers every customer鈥檚 name. Doug Nishimura, the service manager, gives clear and straightforward tech advice without any hint of bike-shop-dude attitude. The sales staff are friendly. In a year when I had to pinch pennies, every cent I gave to Louisville Cyclery was money well spent.

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Boulder, Colorado, has long been seen as a hub for outdoor business, and the latest surge of brands and retailers opening brick-and-mortar locations here is further proof that both the town鈥檚 outdoor cred and the industry鈥檚 allure never wavered during COVID-19. If anything, they鈥檝e grown stronger.

In the last few weeks, Black Diamond Equipment, Stio, and Backcountry have opened stores on Boulder鈥檚 famous Pearl Street in hopes of tapping into the city鈥檚 natural alignment with the outdoors.

Those brands joined such outdoor stalwarts as Patagonia, The North Face, Fjallraven, Montbell, Norrona, Volcom, and others in downtown Boulder, most of which also call Pearl Street home.

Plenty of other brands have doors elsewhere in town, and the city鈥攁long with other towns in Boulder County like Louisville and even nearby Broomfield鈥攊s home to the global or North America headquarters for several companies.

Why Boulder and why now? The city is an obvious draw for outdoor enthusiasts, and it鈥檚 become even more attractive during COVID as more people look for quick escapes nearby, whether that means scaling routes at the Flatirons, backpacking through Rocky Mountain National Park, or just strolling along Boulder Creek.

To document this recent retail trend, we spoke with brand leaders about why these companies chose Boulder, and what expectations they have for the new retail ventures.

Black Diamond Equipment

People are used to their favorite store closing and becoming a Starbucks, but the outdoor industry is on such a roll right now that one brand鈥�Black Diamond Equipment鈥攆ound a way to reverse that retail trend.

On July 10, Black Diamond opened the doors to its retail store at 1427 Pearl St., in the site of a former Starbucks. This locale marks Black Diamond鈥檚 sixth retail location following Big Sky, Montana; Salt Lake City, Millcreek, and Park City, Utah; and Castle Rock, Colorado.

Black Diamond鈥檚 leadership team鈥攊ncluding president John Walbrecht and Devin Gillette, director of retail鈥攕ays the brand expects to continue adding retail locations as part of its omni-channel approach, but that Boulder was the logical next opening based on its proximity to the mountains and its population of BD super fans and newcomers alike.

鈥淏lack Diamond鈥檚 retail strategy is to focus on opening in key mountain towns, like Boulder, so that we can engage with these rapidly growing mountain communities,鈥� Walbrecht told OBJ. 鈥淏oulder is a perfect fit with its rich climbing heritage, vibrant outdoor community, and its pulse on outdoor trends. Black Diamond is a key player in these outdoor markets, making Boulder an ideal match for the brand. It is exciting for us to integrate with Colorado鈥檚 expanding Front Range population and build on our roots with this passionate, engaged, and iconic outdoor community which BD already serves.鈥�

Stio

Stio, the Jackson Hole, Wyoming-based mountain lifestyle brand, recently opened its doors at 1505 Pearl St. The Boulder location is the brand鈥檚 fourth Mountain Studio retail store, after its Jackson and Teton Village stores in Wyoming and Park City store in Utah.

鈥淲e are super stoked to open our next Mountain Studio in one of America鈥檚 most vibrant outdoor communities,鈥� said Steve Sullivan, Stio鈥檚 founder and CEO. 鈥淭he combination of an engaged and active local population, energetic college community, and outstanding year-round recreational activities make it an ideal match for us. Having grown up in Colorado, and lived in Boulder for a short time, it has always had a warm place in my heart. I still have a lot of friends down there and know it to be a wonderful community. We are really looking forward to being part of it.鈥�

Backcountry

Though traditionally an e-tailer, Backcountry opened a brick-and-mortar store at 1537 Pearl St., its second store opening this year along with a new door in Park City, Utah. The retailer already had one store adjacent to its fulfillment center in Salt Lake City.

When Backcountry CEO Melanie Cox spoke with OBJ earlier this year for a deeper dive on the retailer鈥檚 brick-and-mortar plans, she said, 鈥淚 think that omni-channel more and more is the most viable approach to retail. You need to meet customers where they want to be met.鈥�

And when asked about the potential for backlash from the retail communities in Park City and Boulder, Cox said, 鈥淲e鈥檙e not just opening up a store. We want to contribute to the communities [we鈥檙e moving into]. We鈥檙e going to be supporting local nonprofits and establishing partnerships that will give back to the community. Our stores will work hard to reflect the DNA of the communities we鈥檝e selected.鈥�

Don鈥檛 forget Denver

Just 30 miles southeast of Boulder along U.S. 36 sits Denver. Not surprisingly, the Mile High City also has seen a rapid rise in outdoor brands moving into town. Last month, for example, Thule, the Swedish rack and accessories brand, opened a brand store in Denver in conjunction with longtime retail partner Rack Attack.

鈥淲e鈥檙e confident that the Denver store is going to be a great success,鈥� Thule鈥檚 new Americas president, Hilary Hartley, told OBJ in a recent Q&A.

Added Thule鈥檚 Chris Ritchie, 鈥淔or us, connecting the Thule brand to consumers that like to explore in the outdoors and live the active lifestyle with their families is important, so choosing a city like Denver was an easy decision for us. The community here in Denver and suburbs throughout the area is full of adventure seekers, athletes and people who love the outdoors, so we couldn鈥檛 be more excited to share our award-winning products with them.”

Meanwhile, Portland, Oregon-based boot maker Danner is expanding its footprint with the brand鈥檚 seventh retail store and first outside its home turf of the Pacific Northwest.

鈥淎s a brand, we thrive outside and craft high-quality footwear ready to tackle Colorado鈥檚 diverse terrain, making the Mile High City the perfect location for the newest Danner store,鈥� the company told OBJ in our recent report on the opening.

Both Thule and Danner set up shop at Denver鈥檚 Basecamp at Market Station, which has targeted outdoor brands as its chief tenants. It鈥檚 in Denver鈥檚 LoDo neighborhood between 16th and 17th streets.

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Right now, in a typical year, we鈥檇 be gearing up for another Outdoor Retailer trade show: whirlwind days spent reconnecting with industry pals and our favorite brands. There would be parties and press events, hugs and high fives. But the past 12 months have been a lot of things. Typical isn鈥檛 one of them.

This year, we鈥檝e all had to make changes. And amid the pivoting, we鈥檝e learned a few things鈥攁bout how we do business, and how we relate to one another.

Embrace New Tech, Fast

鈥淭he pandemic has taught us, if nothing else, how to adapt,鈥� said GearJunkie reporter Mary Murphy. 鈥淥ur industry is going to rely a lot more on the technologies that let us connect, look at products, talk to athletes, and interview people virtually.鈥�

That鈥檚 been the case for Thule, which chose to look at the need for new technologies as an opportunity, not a chore.

In March, when the summer trade show schedule started to look tenuous, the roof rack gurus were quick to adopt an interactive, 360-degree video platform. The self-directed, virtual walk-through lets retailers and journalists explore a staged warehouse full of elaborate product displays. The platform has seen 2,524 unique visitors from more than 160 companies to date. 鈥淎 big thing for me as a buyer is getting to really experience a product firsthand,鈥� said Nathan Grothe, category merchandise manager for REI. What Thule did by creating a rich virtual environment is the next best thing.

Chris Ritchie, Thule鈥檚 PR and communications manager, sees his company鈥檚 fast adoption of the new tech as a win-win: since virtual tours offer no real space constraints, they let Thule show off far more products than it could in a booth, and the viewers can learn at their leisure and return any time.

Lean on Your Network

Meghan Highland, buying coordinator of casual and outdoor apparel for Western retail chain Jax Mercantile Co., says the helpfulness and camaraderie that have characterized this year have taught her how to lean on her industry network. This season鈥攈er first in the apparel buyer role鈥攕he鈥檚 had to rely heavily on her reps for advice. That includes recommendations on product aesthetics, especially color-ways, and how to coordinate items on store display racks. 鈥淚鈥檓 really trusting my reps a lot and asking for their support, whereas in a normal buying season, I might not be in that same position,鈥� she said.

That 鈥渓ean on me鈥� mindset has also been helpful when muddling through new COVID-19 rules and regulations. Darby Communications was able to compare notes with fellow Southeast-based public relations firm Groundswell PR during the initial transition back to in-person office work. The two agencies also knocked around ways to plan effective virtual media events. 鈥淲e had an ally,鈥� said Angie Robinson, Darby鈥檚 vice president. 鈥淚t was nice to be able to bounce ideas off someone who鈥檚 in the same boat as you.鈥�

Appreciate Quality over Quantity

Many PR firms have hosted smaller press events to comply with social distancing best practices, and Murphy of GearJunkie says she鈥檚 appreciated the close-knit vibe.

The agencies have noticed the difference, too. This summer, Big Fish Collective invited three writers (a much smaller-than-usual group) to a socially distanced, on-water event for Mustang Survival. 鈥淚t was like we were having a one-on-one at a trade show, but we were also able to test the product and have some more intimate time,鈥� said Big Fish鈥檚 Brooke Fifield. 鈥淚n the future, we鈥檒l keep in mind that smaller events are something journalists are asking for.鈥�

Keen Footwear has also followed that 鈥渂igger isn鈥檛 necessarily better鈥� mantra and reined in its 2021 line. Erik Burbank, chief brand officer, notes that with fewer SKUs, they鈥檝e been able to zero in on their consumer.

鈥淲e asked, 鈥榃hat are our fans doing?鈥� 鈥榃hat problems are we trying to solve for them?鈥欌€� Burbank explained. 鈥淭his has been an opportunity to be more focused than we would have been.鈥�

Forget Old Rivalries

In a move uncommon among competitive PR firms, California-based 国产吃瓜黑料PR and Echos Brand Communications joined up in April to create a two-day virtual brand showcase, dubbed the Reveal Global Media Conference. The two firms managed to rally 46 brands, including some outside of their portfolios, which presented to the 212 journalists who attended the conference. Later in the summer, PR firms Momentum and Akimbo founded a similar partnership for their Virtual Showroom series.

The benefits of collaborative events extend beyond the media attendees: Jennifer Kriske, founder of women鈥檚 cycling brand Machines for Freedom, says Reveal helped level the playing field between major industry players and boutique brands like hers. 鈥淲ith my limited budget, I wouldn鈥檛 be able to get that kind of concentrated attention in a real-life trade show,鈥� she said. 鈥淭his is a really efficient way to get our brand in front of an audience.鈥�

Rethink the Budget

Uncertainty has been a mainstay of the pandemic, especially in terms of budgeting. Nemo Equipment reacted quickly back

in March, revising its operating model, slashing expenses, and making sure it was putting its money where its values were. 鈥淲e decided to base our sales target on what it would take to retain our people and not have to furlough or lay off,鈥� said CEO and founder Cam Brensinger. The one area they didn鈥檛 touch: research and development. 鈥淲e saw a big competitive advantage in being a brand that never took its foot off the gas on new product development.鈥�

Of course, brands with a line item for trade shows suddenly had some extra cash. Emergency kit manufacturer Uncharted Supply used it to beef up its marketing and advertising spending. After seeing search frequency for terms like 鈥渆mergency kit鈥� and 鈥渁ir mask鈥� skyrocket, the small brand invested in search engine optimization and online ads, something it might not have been able to do at the same scale in a trade show year. It was successful, too: 鈥淎t times, a dollar spent would return nearly $100 in sales,鈥� said owner Christian Schauf.

Grumble Less, Enjoy the Long Days More

There鈥檚 no escaping it: Trade shows are just as exhausting as they are exciting. 鈥淭he long, consecutive days would wear us down, and we鈥檇 think, 鈥極h, we have to go do this,鈥欌€� recalled Highland of Jax Mercantile Co. 鈥淏ut now that Outdoor Retailer is gone, I really miss those long days full of meetings and in-person interactions.鈥�

While we鈥檝e learned a lot about how to do business differently (and in some cases, better) over the past year, most of us are pining to get back together. Sure, much of the time is spent cooped up inside, pound- ing the aisles, squinting at spec sheets, but there are also happy hours, new connections, and meetings with old friends.

Murphy summed it up well: 鈥淚t will be the biggest family reunion.鈥�

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Amid Covid-related lockdowns and the limiting of guests inside stores, the past year has been difficult for outdoor retail. But one global brand is betting that brick-and-mortar remains a viable channel for moving goods and, perhaps more importantly, engaging consumers.

Thule Group AB, the Swedish maker of a range of car racks, rooftop tents, bags, and other outdoor gear, is opening a brand store in Denver, Colorado, this summer in conjunction with longtime retail partner Rack Attack.

It will be Thule鈥檚 first physical store in North America鈥攖he company has about a dozen around the world鈥攁nd the timing speaks not only to the brand鈥檚 sales success during the pandemic听but its confidence in consumers returning to shop in person.

Fred Clark, president of Thule鈥檚 Americas region, has overseen the store鈥檚 development鈥攈is last major project for the brand. He is retiring in late April, a move he鈥檚 been planning for the last two and a half years. (He will be听succeeded by Hilary Hartley.)

But before Clark closes his nearly 30-year career with Thule, we wanted to speak with him about the decision to set up shop in Downtown Denver, what the 1,600-square-foot store will offer, what鈥檚 next for the brand, and how Thule will measure success with this new retail play.

Why this retail concept, and why now amid the pandemic?

This store gives us a chance to better showcase our sport and cargo products鈥攖he traditional categories that most people know us by鈥攂ut also our active kids鈥� products, including child bike seats, trailers, joggers, and backpacks. All of these categories are doing well as consumers have been looking to get outside, especially with their families, during the pandemic. It’s been a good time for our product categories and our brand in general.

Did Covid alter or delay this plan at all?

As far as the store itself, it has been delayed because of Covid. Everything is taking a little bit longer, but we’re hoping to be in there by early summer. Looking more broadly, Covid was a huge unknown for the company. At one point, we thought there would be a huge decline in our business because every retailer was shut down. But we’ve gone from projecting declines of 20 to 25 percent to achieving 14 percent growth [companywide] and over 10 percent growth in North America. I think the long-term trends show consumers are going to be more active and do more things outside. That aligns with the product categories we’re in鈥攁nd with the opening of this store.

Why Denver and why the Basecamp location?

The Denver area is an important one for our business. It鈥檚 certainly an epicenter for where people are active and enjoy different activities from the 鈥渃ity to the summit鈥� [a play on the brand鈥檚 recent trade show theme]. We also have an office in Longmont with development and design teams for some of our product categories, so we have more resources locally that can help support and learn from the store. As for the new Basecamp location, there will be other outdoor brands in that one area, so it makes that space much more attractive.

Will the store sell only Thule products or other brands as well?

This is just going to be a Thule brand store, where customers can experience the breadth of our entire product portfolio. We have 30 different product categories that we’re in, and this is an opportunity to showcase them all together.

How will you measure success with this venture? Is it purely financial or is there a larger brand awareness campaign that鈥檚 critical here?

For us, success is a broader exposure for consumers to our entire portfolio of products in a high-quality experience. This space will be good for our brand even if they experience our products in the Denver store but wind up purchasing at another retail location. We’ll learn from this too鈥攚hat鈥檚 the right way to merchandise, for example. Normally, feedback gets muffled by the time it goes from the retailer to the rep to us. Getting that direct input will be extremely important and helpful.

Are there plans to open more stores?

Our ambition in all of North America is to open a store or two a year. We think that allows us to put the quality of experience and breadth of our products together for more consumers. It鈥檚 also an opportunity for us to start talking about our sustainability efforts and our focus on getting more people outdoors. We can also run events such as teaching parents how to be active with their kids, how they can get into jogging with a newborn, or hiking with a child. When the travel market opens up, we can teach people about packing a bike travel bag. This is an opportunity to help educate consumers.

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How good of an investment is the outdoor and recreation industry on Wall Street?

An 国产吃瓜黑料 Business Journal analysis shows the sector has outpaced broader market indices such as the S&P 500 and Dow Jones Industrial Average with healthy gains during the past five years, albeit still lagging behind the soaring tech industry.

OBJ compiled an index of 18 global outdoor recreation companies that trade on global exchanges (see chart), then averaged their performance over the past five years (from June 19, 2013 through June 19, 2018) to come up with our Outdoor Index. The results show a 82 percent gain for the sector, beating the S&P 500’s 65 percent gain and the DJIA’s 61 percent gain, during the same period.

In money terms, if you invested $1,000 in each of our 18 Outdoor Index stocks for a total of $18,000 five years ago, you could cash out those investments for $32,698 today鈥攁 gain of $14,698. This doesn’t include any dividends paid out by the stocks, which would increase those gains by varying degrees.

By the Numbers

Camping World Holdings (Camping World, Uncle Dan’s)

Camping World Holdings Inc. (NYSE: CWH) went public in October 2016 and acquired Uncle Dan’s, Erehwon Mountain, and Rock Creek to boost its outdoor specialty retail business. Still, retail has been a challenge and the stock is up only 2.9 percent since its inception.

Clarus Corp. (Black Diamond)

Clarus Corp. (NASDAQ: CLAR), parent to Black Diamond, has had a rough go of it in the past five years, falling 18.9 percent amid its acquisitions then disposal of Gregory Mountain and Poc Sports, and departure of its CEO and BD founder Peter Metcalf.

VF Corp. (TNF, Timberland, etc.)

VF Corp. (NYSE:VFC) grew its business to largely depend on outdoor sales with brands like The North Face, Timberland, Jansport, and Smartwool in its portfolio. Its stock is up 75.1 percent in the past five years.

Columbia Sportswear Co. (Columbia, Mountain Hardwear, prAna)

Columbia Sportswear Co. (NASDAQ: COLM) saw its stock soar 199.7 percent thanks to its prAna acquisition, boosting its lifestyle business, while simultaneously benefiting from Columbia’s advances in apparel innovation during the past five years. A few bumpy years at its Mountain Hardwear brand was the only thing holding it back from even larger gains.

Newell Brands Inc. (Marmot, Coleman, etc.)

Newell Brands Inc. (NYSE:NWL) merged with Jarden Corp., parent to Marmot and Coleman, to become a $13 billion diversified conglomerate, but so far, that hasn’t helped its stock price, which has lagged behind the rest of the market, falling 2.7 percent in the past five years.

Amer Sports (Salomon, Arc’Teryx, Atomic, Suunto, etc.)

Amer Sports (HEL:AMEAS) has seen steady gains after a few rough winters. Key to its success鈥攖he stock is up 94.8 percent in five years鈥攈as been lifestyle push at Arc’teryx and Salomon, balancing the core side of the business.

Canada Goose Holdings Inc.

Canada Goose Holdings Inc. (NYSE: GOOS) has been riding high on the fashion front. Its iconic look is in style with consumers and the stock is up 274.4 percent since going public in March 2017.

Under Armour Inc.

Under Armour Inc. (NYSE: UAA) has come off its recent highs after previous lofty outlooks on growth didn’t come through, including within the outdoor industry. That’s kept its stock price in check, lagging behind its biggest competitors Nike and Adidas.

Deckers Outdoor Corp. (Teva, Hoka One One, etc.)

Deckers Outdoor Corp. (NYSE: DECK), parent to Teva and Hoka One One, has benefited from the athleisure trend in footwear. Meanwhile, trade deals and technology advances have cut the cost of footwear manufacturing, boosting its bottom lines.

GoPro Inc.

GoPro Inc. (NASDAQ: GPRO) was a high-flying stock when it debuted in June 2014, but since then, more consumers are opting to capture video on their phones versus a separate camera. That’s hurt sales and the stock has plummeted 78.1 percent to date.

Vista Outdoor Inc. (CamelBak, Camp Chef, etc.)

Vista Outdoor Inc. (NYSE: VSTO) went public in February 2015 and then went on an outdoor acquisition spree to try diversify from its firearms business. It now owns CamelBak and Camp Chef, among others, but the diversification hasn’t made up for the drop in firearm sales post years of political gun-control debates. Its stock is down 55.3 percent over the past five years.

Garmin Ltd.

Garmin Ltd. (NASDAQ: GRMN) turned in perhaps the biggest surprise performance over the past five years. Despite the continuing declines of its auto GPS sales, the company saw a big boost from its fitness-and-outdoor tracking technologies, leading to a gain on Wall Street of 70.1 percent.

Fenix Outdoor International AG (Fjallraven, Brunton, Hanwag, etc.)

Fenix Outdoor International AG (STO: FOI-B) made the right choice expanding its brands, including Fjallraven, Brunton, and Hanwag, to the North American retail scene. They were a big hit and the stock is up 198.9 percent, despite more challenging markets in Europe.

Johnson Outdoors Inc. (Eureka, JetBoil, etc.)

Johnson Outdoors Inc. (NASDAQ: JOUT) has had a solid business plan for its JetBoil acquisition, while maintaining Eureka as a top brand in the mass channels. Plus, the rise of SUPs and other paddlecraft has helped its watersports channels, all propelling the stock up 221.5 percent in the past five years.

Wolverine World Wide, Inc. (Chaco, Merrell, etc.)

Wolverine World Wide, Inc. (NYSE:WWW), parent to Chaco, Merrell, and its namesake brand, hasn’t done much to excite Wall Street in the past five years, and while its stock is up 39.6 percent during the period, that gain has lagged the broader averages.

Thule Group AB

Thule Group AB (STO:THULE), has seen continued success from its vehicle rack business, while expanding into vehicle-top shelters and packs鈥攁 good fit for always-on-the-move millennials. Its stock price is up 174 percent since debuting on the public exchanges in November 2014.

Dicks Sporting Goods Inc.

Dicks Sporting Goods Inc. (NYSE: DKS), like many other big-box retailers, has struggled in the face of increased online sales at Amazon on one end and specialty-retail competition on the other. However, despite its 30.2 percent decline in stock value over the past five years, it remains a survivor after competitors such as Sports Authority and Sport Chalet went out of business.

Adidas AG

Adidas AG (ETR:ADS) regained its mojo after a few rough years and the brand is back in style, firmly behind sportswear leader Nike. Its outdoor business continues to thrive as well and its stock price is up 128.3 percent in the past five years.

Biggest Movers

Like any investment portfolio, there were winners and losers on the Outdoor Index.

Leading the pack on the U.S. markets with triple-digit percentage gains were:

• Canada Goose Holdings Inc. (NYSE: GOOS +274%)

• Johnson Outdoors Inc. (NASDAQ: JOUT +222%)

• Columbia Sportswear Co. (NASDAQ: COLM +200%)

• Deckers Outdoor Corp. (NYSE: DECK +127%)

Meanwhile, the following European companies听fared best on overseas exchanges:

• Adidas AG (ETR:ADS +128%)

• Fenix Outdoor International AG (STO: FOI-B +199%)

• Thule Group AB (STO: THULE +174%)

The top performers largely shared a common denominator by growing via acquisitions and market expansions. Johnson Outdoors (parent to Eureka Tents and a collection of paddlesports brands) acquired JetBoil; Columbia (parent to its namesake and Mountain Hardwear) bought prAna; and Deckers (parent to Teva and Ugg) added Sanuk and Hoka One One. In Europe, the key for Fenix (parent to Fjallraven, Hanwag, and Brunton) and Thule (which ventured into camping beyond its mainstay car racks) were expanded marketing and sales in United States.

Brands like Canada Goose, Columbia, adidas, Deckers, and Fenix also benefited in a big way from the popular athleisure fashion trends in the broader market during the past half decade, according to Nathan Pund, managing director at investment banking firm Houlihan Lokey.

“The outdoor customer has moved away from a hardcore brand to much more of an aspirational brand that they can wear in the city, too,” said Pund, who has focused on outdoor, active-lifestyle and tactical investments at various firms, including RBC Capital, Silver Steep Partners, D.A. Davidson and Lazard, since 2001. “Brands that provide apparel and footwear have fared better than those just focusing on equipment.”

But acquiring brands and pushing lifestyle gear hasn’t been a surefire bet for the industry.

Clarus Corp. (NASDAQ: CLAR -19%), parent to Black Diamond, had a rough go of it during the past five years, first acquiring a slew of outdoor brands, including Gregory and POC Sports, only to turn around and sell them and then see its iconic CEO Peter Metcalf leave the company.

Vista Outdoor Inc. (NYSE: VSTO -55%)听also struggled, and its acquisitions of outdoor brands CamelBak and Camp Chef could not offset declines in its mainstay firearms businesses, which saw a boom and bust of business following the political and societal debates over gun control.

Fashion is also a tougher nut to crack for many outdoor brands, Pund noted. All of a sudden, that means competing within a much larger market with faster-moving trends. “If you’re on-trend, it can lead to great results,” he said, “but if you’re off trend, it’s a big challenge.” And outdoor brands can’t rely completely on fashion, he added鈥攖hey have to maintain their roots. “The North Face [owned by (NYSE:VFC +75%)] is a good example,” he said. “They still put a lot effort into core outdoor product to maintain their authenticity.”

Evolving Retail

To no surprise, for any retailer not named Amazon, the past five years were challenging鈥擠icks Sporting Goods Inc. (NYSE: DKS -30%) and Camping World Holdings Inc. (NYSE: CWH +2.9%) both lagged.

“I think the breakdown of retail has been the biggest challenge,” Pund said, referring to recent bankruptcies and store closures across the retail spectrum from big-box to specialty retail, including Sports Authority, Sport Chalet, and Hudson Trail Outfitters, to name a few in the outdoor recreation space. “The historical way we shop has changed dramatically, and some brands have been better at adapting than others.”

He elaborated that the rise of Amazon and other online outlets such as Backcountry.com allowed consumers to bypass traditional brick-and-mortar retail to find the gear they wanted at more competitive prices. In addition, competition has come from direct-to-consumer channels, both online and through branded stores, where brands have benefited from higher margins and, perhaps more importantly, a deeper relationship with their customers via omni-channel strategies from targeted digital marketing to in-person, local events.

On the big-box front, retailers are looking for the same鈥攁 way to strengthen authentic relationships with shoppers, and that is likely the main driver behind Camping World’s acquisitions of specialty outdoor retailers Erehwon Mountain, Uncle Dan’s, and Rock Creek.

Tech Dominates

While our Outdoor Index kept pace with the broader S&P 500 and DJIA, its competition for investors on Wall Street is a familiar foe on the consumer front鈥攖he tech industry.

During the past five years, the tech-heavy NASDAQ Index听rose 122 percent, outpacing the gains of the Outdoor Index. Going back to our example of an $18,000 investment, had you invested the same funds to follow the Nasdaq instead, you would have seen the investment rise to $52,560鈥攁 gain of $34,560.

Of course, this is just five years. The markets ebb and flow. Had one invested in the two indexes during, for example, the early 2000s, when the tech market crashed, then it’s likely the Outdoor Index outperformed. Plus, sometimes you want to put your money where your heart is and investing in the outdoors has been a decent deal.

Still, these past five years on the market paint a picture of what’s happening in the real world. People are spending more money on outdoor recreation…just not as much as they are spending on tech.

“I think tech will continue to outperform,” Pund said. “The question for the industry is what parts of tech can be integrated with the outdoors.”

Brands such as Garmin, for example, have benefited from the fitness-tracking angle听(NASDAQ:aGRMN +70%), while GoPro (NASDAQ:GPRO -78%) has struggled to fully capture the video-capture market.

“Enjoying the outdoors has become much more about the experience and sharing that experience via tech and social media,” Pund said, “versus the idea of going outdoors to seek solitude.”

The Next Five Years

Looking ahead, Pund declined to pick any specific winners and losers on Wall Street鈥攂ut says the industry as a whole will continue to do well.

“Millennials are very excited for the outdoors, just in a different way than their parents were,” he said. “In the past, it was about mastering the one or two sports…today it’s about experiencing a wider scope of recreation.” The companies that will do best, from Pund’s perspective, are those that will remain engaged with the customer through social media and e-commerce, and through live experiential events.

He also sees continued merger and acquisition activity among the larger outdoor brands on Wall Street. “The market has become so competitive that it’s faster to acquire than build on your own.”

The Breakdown

*These companies went public less than five years ago, so their performance was calculated from their opening day on the market.

Outdoor Index – +81.6%

S&P 500 – +69.6%

DJIA – +61.3%

NASDAQ – +121.8%

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