Middleby on the other hand doesn’t have a strong consumables or accessory business to make up for sales declines in Masterbuilt, Char-Griller, and Kamado Joe. They saw some positive signs for Q2 with sales though. They’ve seen retailers be later with their load-in of inventory ahead of the grilling season. That means many of those sales have been pushed to Q2 from Q1. Middleby also is seeing improvements in
their floorspace, which should yield returns in the future.
There was a fire at Fiber Energy Products in February, which is owned by Vista Outdoor, and makes pellets for Camp Chef. It caused quite a bit of damage to the buildings and has interrupted operations at the plant. Vista was asked if its operation is still part of their strategy going forward. They didn’t commit to saying it was, which might be an indicator that they seize the opportunity to downsize. With slower
pellet grill demand, they likely don’t need the capacity.
There wasn’t much else of interest on the Vista Outdoor earnings call that hasn’t been covered here prior, so there’s no summary article. They’re still evaluating the best path forward on the sale of the company. They also are making progress on their supply chain consolidation and cost reduction strategy.
Solo Stove also is on a transformational journey as their growth stalled out at the end of last
year. They’re still working with consultants on developing a strategy for their business. In the meantime, they’re growing their wholesale business. They announced a expanded partnerships with Tractor Supply and Dick’s Sporting Goods.
I reviewed Blackstone’s portable pizza oven, Leggero, and really liked the results. If you’re new to pizza ovens, this one does and great job with even cooking from its U-shaped burner and automatic turntable. Some people might want a little more
power, but I think everyone will enjoy how easy it is to use.
