Fox Factory Holding Corp. (NASDAQ: FOXF) shares were little changed soon after the market opened Tuesday. The global leader in performance and adventure products, released its third annual sustainability report, detailing progress made over the last year. Rooted in a commitment to innovation and pushing potential further, Fox Factory is making advancements across all four of its strategic frontiers: Planet, People, Product, and Business Fundamentals. The report provides a comprehensive overview of accomplishments from 2023 and aspirations for the future, reinforcing the Company’s dedication to driving measured, positive change within the industry and beyond.
“2023 was a big year for Fox Factory, with our acquisitions of Custom Wheel House, Marucci Sports, and Ride Concepts. As we continue to grow, we remain steadfast in our commitment to not only winning through innovation and performance-defining products, but to do so while prioritizing sustainability,” said CEO Mike Dennison.
The company increased renewable energy procurement at its two largest facilities (in Gainesville, Ga., and Taichung City, Taiwan) by 37%. It also expanded Fox Factory’s signature outreach initiative, Trail Trust. Since its launch, the initiative has partnered with 120+ nonprofits to build or maintain over 750 miles of trails, deliver countless hours of responsible recreation training, and expand opportunities to more than 27,000 underserved adventurers
FOXF shares dipped three cents to $40.02.
