Brownie's Marine Group, in a company update from chairman and CEO Robert Carmichael, said today it believes the outdoor recreational markets have begun to stabilize, yet remain significantly below prerecession levels.
“While the outdoor recreation industry is on the road to recovery, the economic recession has had a lasting impact on the marketplace. Consumers are more demanding and discerning, with increasingly higher price/value expectations,” Carmichael said, adding that it’s the reason the company is launching a multisport concept store: Brownie's Adventure Centers.
“Single-niche market retailers are limited in their profit center potential,” he added. “The variety of sports and activities available at a BAC demand professional guidance, training and mentorship, a resource not easily found in any ‘big box’ outlet, but very difficult to subsidize in a single product store.”
Carmichael added, “Focused, disciplined execution of our strategic plan is essential to reach profitable growth in what will be another challenging year. We will continue to carefully manage inventories, keep working capital in check and implement the vertical integration strategy during 2012.”