It was another tough month for the outdoor industry. In February, the OBJ Outdoor Index saw stock values dip an average of 5.9 percent. This was the third month in a row of losses—in January, the index slid 8.9 percent; December saw a 3.7 percent loss.
Of course, these losses weren’t unique to the outdoor space. The Dow Jones, S&P 500, and Nasdaq were all battered in February as well. Still, investors betting on the outdoor industry are feeling the sting right now, despite months of stock trends in the right direction before this most recent cratering.
Not all companies OBJ Outdoor Index were losers in February. A couple on our list saw their share values increase, biggest being Emerald Holding Inc. (NYSE: EEX) with a bump of 9.82 percent and Samsonite International SA (OTC: SMSEY) with an increase of 4.72 percent.
On the flip side, though, February was another month in which the three companies with the largest declines saw double-digit slides. Thule Group AB (OTC: THUPY) recorded the biggest loss of all the companies on our index, closing out with a 16.8 percent dip.
OBJ Outdoor Index Compared to Other Indices: February 2022
| Index | Jan. chg% |
| OBJ Outdoor Index | -5.9% |
| Dow Jones | -3.5% |
| S&P 500 | -3.1% |
| Nasdaq | -3.4% |
Of the 28 public companies that OBJ tracks, only six saw their share prices grow in February, while 22 saw declines. Here are the month’s top stock performers:
- Emerald Holding Inc. (NYSE: EEX): 9.82%
- Samsonite International SA (OTC: SMSEY): 4.72%
- Callaway Golf Co. (NYSE: ELY): 3.69%
And here are the companies that saw the biggest declines in the month:
- Thule Group AB (OTC: THUPY): -16.8%
- Canada Goose Holdings Inc. (NYSE: GOOS): -15.0%
- Adidas AG (OTC: ADDYY): -13.7%
Tracking the Monthly OBJ Outdoor Index
Below is the OBJ Outdoor Index for February. The Index shows how 28 public corporations—mostly parent companies of outdoor brands, with a couple of retailers, a ski resort giant, and a trade show operator included as well—performed in the calendar month.
The chart includes the companies’ share prices on the last business day of the previous month (January 31), their share price on the last business day of this month (February 28), the percent change in that period, and current market cap (equal to share price times the total number of shares outstanding).
The OBJ Outdoor Index, unlike other indices such as the Dow Jones Industrial, doesn’t use a market cap weighting system.
Foreign companies’ shares are presented here in U.S. dollars and designated as OTC (over-the-counter) securities since they aren’t listed on U.S. stock exchanges. Two exceptions are Dometic Group AB and Fenix Outdoor International Group, whose share prices can be found only on Nasdaq Stockholm and are represented as U.S. currency converted from the Swedish krona.
Underneath the stock chart are capsules on each of the 28 companies of the OBJ Outdoor Index, including headquarters location, connections to the outdoor industry (if not immediately obvious), key executives, and recent editorial coverage in OBJ, where applicable.
OBJ Outdoor Index: February 2022
| Company | Ticker | Stock value 01/31/22 |
Stock Value
02/28/22 |
Chg% Feb. ’21 |
Market Cap
02/28/22 |
| Adidas AG | (OTC: ADDYY) | $136.53 | $117.84 | -13.7% | $45.3B |
| Anta Sports Products Ltd. | (OTC: ANPDY) | $384.71 | $383.69 | -0.27% | $41.5B |
| Callaway Golf Co. | (NYSE: ELY) | $23.86 | $24.74 | 3.69% | $4.60B |
| Camping World Holdings Inc. | (NYSE: CWH) | $33.20 | $30.71 | -7.5% | $1.36B |
| Canada Goose Holdings Inc. | (NYSE: GOOS) | $30.71 | $26.10 | -15.0% | $2.78B |
| Canadian Tire Corp. | (OTC: CDNAF) | $144.28 | $146.66 | 1.65% | $9.12B |
| Clarus Corp. | (Nasdaq: CLAR) | $22.53 | $22.77 | 1.06% | $842.2M |
| Columbia Sportswear Co. | (Nasdaq: COLM) | $92.87 | $92.72 | -0.16% | $5.98B |
| Compass Diversified | (NYSE: CODI) | $25.16 | $23.76 | -5.56% | $1.64B |
| Deckers Outdoor Corp. | (NYSE: DECK) | $320.23 | $288.64 | -9.86% | $7.86B |
| Dick’s Sporting Goods Inc. | (NYSE: DKS) | $115.40 | $105.00 | -9.01% | $9.09B |
| Dometic Group AB** | (հ:ٰ.) | $10.97 | $ċ9.72 | -11.4% | $3.37B |
| Emerald Holding Inc. | (NYSE: EEX) | $3.26 | $3.58 | 9.82% | $251.8M |
| Fenix Outdoor International AG* | (STO: FOI-B) | $126.78 | $114.07 | -10.0% | $1.75B |
| Garmin Ltd. | (NYSE: GRMN) | $124.42 | $110.44 | -11.2% | $21.29B |
| GoPro Inc. | (Nasdaq: GPRO) | $8.86 | $8.60 | -2.94% | $1.35B |
| Helen of Troy Ltd. | (Nasdaq: HELE) | $209.12 | $205.67 | -1.65% | $4.96B |
| Johnson Outdoors Inc. | (Nasdaq: JOUT) | $90.22 | $82.47 | -8.59% | $837.7M |
| Newell Brands Inc. | (Nasdaq: NWL) | $23.20 | $23.75 | 2.37% | $10.11B |
| On Holding AG | (NYSE: ONON) | $26.38 | $24.35 | -7.7% | $7.54B |
| Samsonite International SA | (OTC: SMSEY) | $10.60 | $11.10 | 4.72% | $3.19B |
| Solo Brands, Inc. | (NYSE: DTC) | $11.15 | $10.56 | -5.29% | $669.5M |
| Thule Group AB | (OTC: THUPY) | $24.60 | $20.46 | -16.8% | $4.28B |
| Vail Resorts Inc. | (NYSE: MTN) | $277.10 | $260.55 | -5.97% | $10.6B |
| VF Corp. | (NYSE: VFC) | $65.21 | $58.02 | -11.0% | $22.6B |
| Vista Outdoor Inc. | (NYSE: VSTO) | $38.58 | $36.45 | -5.52% | $2.05B |
| Wolverine World Wide Inc. | (NYSE: WWW) | $26.49 | $23.03 | -13.1% | $1.90B |
| Yeti Holdings Inc. | (NYSE: YETI) | $65.58 | $61.56 | -6.13% | $5.4B |
| OBJ Outdoor Index Total/Avg. | $2472.00 | $2327.01 | -5.9% |
*Currency converted from Swedish krona
OBJ Outdoor Index: Company Guide
AdidasAG(OTC: ADDYY)
- Headquarters:Herzogenaurach, Germany (U.S. operation is based in Portland, Oregon)
- Outdoor connection:WhileAdidasmight be known for its athletic apparel, the company also possesses some core outdoor DNA through its Portland, Oregon-basedAdidas TerrexandFive Tenbrands.
- Key executives: Kasper Rorsted, CEO; Carla Murphy, GM, Adidas Outdoor
Anta Sports Products Ltd.(OTC: ANPDY)
- Headquarters:Xiamen, China (subsidiary Amer Sports is based in Helsinki, Finland, and its U.S. operation is based in Ogden, Utah)
- Outdoor connection: Anta is the owner of Amer Sports and its portfolio of outdoor and snow sports brands — Salomon,’t,Armada Skis, andAtomic.
- Key executives: Jie Zheng, CEO, Amer Sports
CallawayGolf Co.(NYSE: ELY)
- Headquarters:Carlsbad, California
- Outdoor connection:Though primarily a golf manufacturer and now the owner of Topgolf, the company made a big play in the outdoor space in late 2018 with the acquisition of European outdoor brandJack Wolfskin.
- Key executives: Oliver Brewer, president and CEO, Callaway; Richard Collier, CEO, Jack Wolfskin; Diana Seung, GM, Jack Wolfskin North America
Camping World Holdings Inc.(NYSE: CWH)
- Headquarters:Lincolnshire, Illinois
- Outdoor connection:Camping Worldtried its hand at outdoor retail but abandoned that play in 2019.
- Key executives: Marcus Lemonis, CEO
Canada GooseHoldings Inc.(NYSE: GOOS)
- Headquarters:Toronto, Ontario
- Outdoor connection: In addition to its eponymous apparel brand,Canada Gooseowns and operates footwear brand Baffin.
- Key executives: Dani Reiss, CEO
Canadian Tire Corp.(OTC: CDNAF)
- Headquarters:Toronto, Ontario
- Outdoor connection:CTC boasts an iconic outdoor brand,Helly Hansen, in its portfolio. (It also operates a chain of sporting goods retail stores throughout Canada.)
- Key executives: Carrie Ask, CEO, Helly Hansen
Clarus Corp.(Nasdaq: CLAR)
- Headquarters:Salt Lake City, Utah
- Outdoor connection:Clarus is a holding company whose flagship outdoor brand isBlack Diamond Equipment. Clarus also ownsRhino-Rack,Pieps,SKINourishmentplus two bullet manufacturers.
- Key executives: John Walbrecht, president
Columbia Sportswear Co.(Nasdaq: COLM)
- Headquarters:Portland, Oregon
- Outdoor connection:In addition to theColumbiabrand,the Portland-based apparel and footwear giant includesMountain Hardwear,prAna, andSorel in its portfolio.
- Key executives: Timothy Boyle, CEO
Compass Diversified(NYSE: CODI)
- Headquarters:Westport, Connecticut
- Outdoor connection:Long known for its hook-and-bullet assets, CODI added a big outdoor name in the fall of 2020 with the acquisition ofBoa Technology Inc.
- Key executives: Shawn Neville, CEO, Boa Technology
DeckersOutdoor Corp.(NYSE: DECK)
- Headquarters:Goleta, California
- Outdoor connection:Deckers is a major player in outdoor and active footwear with such brands asHoka One One,Teva,Sanuk, andUgg.
- Key executives: Wendy Yang, president, performance lifestyle brands
Dick’s Sporting Goods Inc.(NYSE: DKS)
- Headquarters:Pittsburgh, Pennsylvania
- Outdoor connection:The sporting goods retail giant recently launched an outdoor store concept calledPublic Lands, led by industry veteran Todd Spaletto.
- Key executives: Lauren Hobart, president and CEO; Todd Spaletto, president, Public Lands
Dometic Group AB(STO: DOM.ST)
- Headquarters:Stockholm, Sweden
- Outdoor connection:The Swedish-based company manufacturesaccessories for mobile-living end markets such as campers and RVs, and it recently acquiredIgloo Products Corp.
- Key executives: Juan Vargues, president and CEO
Emerald Holding Inc.(NYSE: EEX)
- Headquarters:San Juan Capistrano, California
- Outdoor connection:Emerald is the owner and operator of the twice-annualOutdoor RetailerandSurf Expotrade shows
- Key executives: Hervé Sedky, CEO
Fenix Outdoor InternationalAG(OTC: FNXTF)
- Headquarters:Zug, Switzerland (U.S. headquarters in Louisville, Colorado)
- Outdoor connection:The Swiss company’s outdoor brands includeFjallraven,Royal Robbins, andPrimus.
- Key executives: Martin Nordin, CEO; Nathan Dopp, CEO Americas
GarminLtd.(Nasdaq: GRMN)
- Headquarters:Schaffhausen, Switzerland (U.S. headquarters in Olathe, Kansas)
- Key executives: Clifton Pemble, president and CEO
GoPro(Nasdaq: GPRO)
- Headquarters:San Mateo, California
- Key executives: Nick Woodman, CEO
Helen of Troy Ltd.(Nasdaq: HELE)
- Headquarters:El Paso, Texas
- Outdoor connection:Among its many consumer brands isHydro Flask, the maker of insulated and stainless steel drinkware, andOsprey.
- Key executives: Julien Mininberg, CEO
Johnson Outdoors Inc.(Nasdaq: JOUT)
- Headquarters:Racine, Wisconsin
- Outdoor connection:The company owns two outdoor brands (EurekaandJetboil) and two watercraft brands (Old TownandOcean Kayak).
- Key executives: Helen P. Johnson-Leipold, chairman and CEO
On Holding AG(NYSE: ONON)
- Headquarters:Zurich, Switzerland
- Outdoor connection:The running shoe brand recently went public, pricing its IPO of 31.1 million shares at $24 a share—up from its initial expectations—for an initial raise of $746 million.
- Key executives: Martin Hoffmann, co-CEO and CFO, Marc Maurer, co-CEO, and Olivier Bernhard, co-founder and executive director
Newell BrandsInc.(Nasdaq: NWL)
- Headquarters:Atlanta, Georgia
- Outdoor connection:The company’s core outdoor brands areMarmotandColeman(and there is some crossover into outdoor with its other consumer brandsContigo,Ex Officio, andStearns)
- Key executives: Ravi Saligram, CEO
SamsoniteInternational SA(OTC: SMSEY)
- Headquarters:Hong Kong
- Outdoor connection:The luggage giant owns outdoor pack and bag brandsGregory Mountain ProductsandHigh Sierra
- Key executives: John Sears, VP, Gregory
Solo Brands, Inc.(NYSE: DTC)
- Headquarters: Southlake, Texas
- Outdoor Connection:The growing specialty company owns Solo Stove, Oru Kayak, Chubbies and water sports company Isle.
- Key Executives:John Merris, CEO; Samuel Simmons, CFO
Thule GroupAB(OTC: THUPY)
- Headquarters:Malmö, Sweden
- Outdoor connection:The Swedish maker ofThulecar racks, luggage, and baby strollers recently got into car-top campers with its purchase ofTepui.
- Key executives: Magnus Welander, CEO; Hilary Hartley, president Americas
Vail Resorts Inc.(NYSE: MTN)
- Headquarters:Broomfield, Colorado
- Outdoor connection:In addition to being the largest ski resort operator in the world, Vail also operates massive lodging and retail operations.
- Key executives: Kirsten Lynch, CEO
VF Corp.(NYSE: VFC)
- Headquarters:Denver, Colorado
- Outdoor connection:One of the biggest, most influential corporations in the outdoor industry,VF Corporationowns and operates an “outdoor” portfolio ofThe North Face,Altra,Icebreaker,Smartwool,Timberland, and an “active” portfolio ofEastpak,JanSport, andVans.
- Key executives: Steve Rendle, CEO
Vista Outdoor Inc.(NYSE: VSTO)
- Headquarters:Anoka, Minnesota
- Outdoor connection:Vista did some rightsizing of its portfolio in recent years by shedding its firearms assets and acquiring new brands in the outdoor and shooting sports spaces. Its outdoor portfolio now consists ofCamelBak,Camp Chef,Bell,Giro,QuietKat,Stone Glacier, andVenor.
- Key executives: Christopher Metz, CEO
Wolverine WorldWide Inc.(NYSE: WWW)
- Headquarters:Rockford, Michigan
- Outdoor connection:Another of the big footwear players, Wolverine owns and operates such outdoor brands asMerrellandChaco, while other brands includeWolverine,Saucony, andCat Footwear.
- Key executives: Blake Krueger, CEO
Yeti Holdings Inc.(NYSE: YETI)
- Headquarters:Austin, Texas
- Key executives: Matthew Reintjes, president and CEO