Solid Performance in European and North American Wholesale
Clarus Corporation reported solid performances in both European and North American wholesale at Outdoor, reflecting an increase in net sales to $55.2 million, slightly up from the same period last year.
Successful Sale of PIEPS Snow Safety Brand
The company completed the sale of its PIEPS snow safety brand for $9.1 million, aligning with Clarus' simplification strategy and strengthening its balance sheet.
Improved Inventory Composition
Clarus enhanced its inventory composition with less exposure to discounted merchandise and a higher concentration in profitable A styles, positioning Black Diamond for growth in its full-price business.
Increase in Global Wholesale and Direct-to-Consumer Businesses
The Adventure segment saw an approximate 8% increase in global wholesale and direct-to-consumer businesses, partially driven by bike rack sales.
Positive Adjusted EBITDA for Black Diamond
Adjusted EBITDA for Black Diamond in Q2 was $303,000, showing improvement compared to a small loss in the same period last year.