The Rock Fight: Outdoor Industry & Adventure Sports Commentary

Episode: REI’s 'Peak 28' Unwrapped + Hobie Hooks Up with Bass Pro
Date: October 6, 2025
Hosts: Colin True, Owen Comerford, Producer Dave

Episode Overview

This episode dives into several of the week's biggest outdoor industry headlines, with the Rock Fight crew offering the kind of candid, skeptical, and irreverent campfire commentary fans love. The main focus is the “Peak 28” strategic plan just launched by REI, but the crew also tackles Bass Pro’s acquisition of Hobie, recent changes in the trade show circuit, new kids’ activewear at Kohl’s, and more. Along the way: gear mishaps, industry gripes, business gossip, honest self-reflection, and sharp humor.

Key Discussion Points and Insights

1. Outdoor Retailer Show Moves to Minnesota [05:56–12:55]

• Follow-Up on Trade Show Relocation:
  The team revisits the big news: Outdoor Retailer is moving to Minnesota and shifting to an August date. Colin notes the “shiny object syndrome” in the industry—after years of complaints, people suddenly rallied behind the change.

  • “A lot of the messages and posts I saw being like, hey, OR is back. They’re moving to Minnesota. So I thought that was kind of funny, like just how easily excited a lot of folks in the industry are.” —Colin [06:34]

• Concerns Over ‘Old School’ Leadership:
  Colin expresses skepticism, feeling the new leadership group (the “leadership village”) seems stuck in the past.

  • “The first roster kind of feels like we've been here before… For them to find success, that is going to have to be addressed at some point.” —Colin [07:02]

• Balancing Audience Needs:
  There’s agreement that defining the target audience—brands and retailers—and giving them a compelling reason to attend is make-or-break for the show’s future.

  • “The panels and the events… are not enough. It needs to be — that’s the frosting, not the cake.” —Colin [09:30]

• Tension Between Brands and Retailers:
  Owen points out the “chicken or egg” dilemma, as shows need brands to attract retailers, and vice versa, with memories of previous events where this balance was off.

2. Bass Pro Acquires Hobie [13:23–21:15]

• Big News Recap:
  Bass Pro Shops has bought Hobie—a revered kayak, surf, and fishing brand—moving production from Mexico to Missouri.

• Industry War Stories:
  Owen shares a memorable anecdote about Hobie’s rocky years under prior ownership:

  • “Hobie, to hit some of their credit terms, needed to realize revenue… so they just shipped [a retailer] a semi full of kayaks on December 24th… It was a complete disaster.” —Owen [14:02]

• Potential Paths Under Bass Pro:
  Owen outlines possible futures:

  • Hobie becomes a private Bass Pro brand, cutting out specialty retailers.
  • They split lines: a lower-price line at Bass Pro, premium models for independents.
  • Or, they simply fix the supply issues and continue wholesale.

• Strategic Take:
  Dave digs into Hobie’s brand heritage, positing that their real asset could be a relaunch as a retro-California surf brand, not just a “vessel brand” for fishing. But the hosts agree the most likely outcome is pedal-powered kayaks aplenty.

3. Lightning Round Industry Headlines [21:20–25:48]

A. Kohl’s Expands FLX to Kids

• Market Analysis:
  Owen is skeptical about profitability in kids’ activewear, noting price sensitivity and labor costs.

B. Keen Launches ‘Seek’ Trail Running Shoe

• Fit in Market:
  Dave is impressed that Keen plays to its strengths, creating a trail runner with signature features (wide toe box, “process-driven” messaging).
  • “They made the Keen trail running shoe, they didn’t make a trail running shoe.” —Owen [24:19]

C. Arc’teryx PR Scandal Blows Over

• Corporate Lesson:
  The minor PR hit from Arc’teryx’s Himalayan light show quickly fizzled, with Dave wryly noting:
  • “Deny, deny, deny, ignore, deny. That’s what we’ve learned here.” —Colin [25:11]
  • Owen adds that Chinese ownership and social media controls dampened the fallout.

4. REI’s “Peak 28” Strategic Plan: Deep Dive [29:01–39:28]

• Plan Overview:
  CEO Mary Beth Lawton’s new 3-year strategy (“Peak 28”) aims to restore profitability and competitiveness. Four “strategic pillars”:

  1. Connected, focused, trailblazing culture
  2. Authentic, culturally leading assortment
  3. Elevated service and experience
  4. Reinvented membership

• Financial Realities:
  Owen goes beyond the platitudes, laying out the hard numbers:

  • Payroll climbed from 20% to 25% of revenue (2019–2024)
  • Gross margins slipped from >45% to 40.4%
  • “Whatever this thing is… has to solve for those things.” —Owen [31:10]
  • Tough choices are coming: likely layoffs, margin restructuring, and possible changes to the iconic member dividend.

• Parsing the Pillars:
  The hosts analyze each:

  • Culture: “High-performing” = cuts possible; “Purpose-driven”—which causes?

  • Assortment: Big decisions about core vs. casual/lifestyle customers ahead.

  • Service/Experience: Payroll cuts and heightened service are at odds.

  • Membership: The dividend may be reimagined/unaffordable in its current form.

  • “There are going to be tough choices here… How do we solve for the payroll issue and add all these experiences… tricky.” —Owen [30:58]

• Communication Tactics:
  The crew suspects the intentionally vague release is designed to get employees and members mentally prepared for big changes, without specifics… yet.

  • “The cake is half baked, but all we’re seeing is the frosting on top… It could be a brick under all that frosting; we have no idea.” —Owen [37:48]

• Board Additions:
  New board members (veterans from Nike, Skechers, and climate-focused VC) signal a continuation of the existing “corporatized” orientation, not an outdoor-lifer shift.

5. Celebrating Women-Led Innovation in Outdoor [40:10–40:29]

• Highlighting Good News:
  Rock Fight congratulates Cassie Abel (Wild Rye) for launching their outerwear line amid tough tariffs, and notes Title 9’s Pitchfest and NARA’s Boulder pop-up as wins for women-led outdoor business.

Notable Quotes and Memorable Moments

• “So much of LinkedIn is just self-congratulatory bullshit.” —Owen [05:08]
• “If you want your gear grown in a garage, go to Garage Grown Gear.” —Colin [39:28]
• “There are good things happening in the outdoor industry…even if we get in the weeds.” —Colin [40:29]
• “Deny, deny, deny, ignore, deny. That’s what we’ve learned here.” —Colin [25:11]
• “You never sold a stroller—you went on sale, oh, we sell a million strollers.” —Owen [21:45]
• “Can we get Trader Lloyd merch going immediately?” —Colin [13:06]
• “The first roster kind of feels like we've been here before… For them to find success, that is going to have to be addressed at some point.” —Colin [07:02]

Timestamps for Key Segments

• Outdoor Retailer Show Discussion: 05:56–12:55
• Bass Pro/Hobie Deal: 13:23–21:15
• Lightning Round: 21:20–25:48
• REI Peak 28 Deep Dive: 29:01–39:28
• Women-Led Outdoor Business Wins: 40:10–40:29

Tone and Style

Unfiltered, irreverent, skeptical, and community-minded; a mix of analysis, in-jokes, and behind-the-scenes candor. The hosts riff on industry personalities, pet peeves, and show genuine care for the outdoor sector ("We love this space. That's why we critique it").

Takeaway

If you want to understand the vibe and real talk driving today’s outdoor industry—warts, wins, and all—this episode embodies the mission of The Rock Fight: slaying sacred cows, asking the hard questions, and keeping it human. REI’s “Peak 28” is a warning shot for big changes ahead, Bass Pro/Hobie shows big fish still eat the little, and despite headwinds, there’s hope in new launches and grassroots energy.

Find more from The Rock Fight and email feedback to myrockfightmail.com.

“This is the way we speak our truth. This is where we speak our truth. Rock Fight.”
—Chris Demaikz, [41:48]