SGB Update

Lululemon’s Chief AI & Technology Officer Departs

Lululemon Athletica Inc. reported in a regulatory filing Thursday that Ranju Das has “ceased to serve” as the company’s chief AI & technology officer. The company added that “transition plans in place for his responsibilities

Dillard’s Q2 Earnings Boosted by Tariff Refunds, Sales Inch Up 1 Percent

Dillard’s, Inc. reported a sharp uptick in earnings in the second quarter ended August 1, thanks to a boost from tariff refunds. Sales in the quarter climbed 1 percent, led by strong gains in ladies’ accessories and lingerie offset modest declines in juniors, children’s apparel and ladies’ apparel.

Wolverine Hikes FY Guidance on Merrell and Saucony Momentum in Q2

Wolverine World Wide, Inc. raised its earnings and sales guidance for the year after reporting second-quarter results exceeded expectations due to continued robust gains at Merrell and Saucony. Adjusted EPS in the second quarter grew 14.3 percent on a 6.8 percent revenue gain, with sales expanding 11 percent at Merrill and 9.9 percent at Saucony.

Yeti Boosts FY EPS Outlook After Q2 Earnings Beat, Sales Climb 9 Percent

Yeti Holdings, Inc. raised its earnings guidance for the year after seeing second-quarter earnings arrive comfortably above analyst targets. Sales climbed 9 percent, led by a 16 percent hike in Coolers & Equipment sales and 19 percent international growth. Drinkware sales increased 2 percent.

SGB Executive

EXEC: Yeti’s Shares Thumped by Concerns Over Drinkware, U.S. Growth

Shares of Yeti Holdings, Inc. fell about 11 percent Thursday after the company reported second-quarter results that raised investor concerns over the brand’s sluggish growth in the drinkware category and slower growth in the U.S. in the second half. On an analyst call, Yeti officials vowed Drinkware would return to health growth with arriving innovation and said the soft U.S. guidance reflects ““some consumer uncertainty” in the marketplace.

EXEC: Gregory, High Sierra Parent Samsonite Sees Revenues Slide; Plans BÉIS Acquisition

Samsonite Group S.A., the parent of Gregory, High Sierra and several luggage brands, reported sales on a constant currency basis declined 1.7 percent in the second quarter and 0.7 percent in the half, dragged down by declines in North America, the Middle East and India. The Hong Kong-based company also announced it had agreed to acquire BÉIS, the travel brand based in El Segundo, CA.

EXEC: Salomon Opens Beijing Flagship

Salomon opened a three-story flagship store in Beijing. The 728-square-meter store at China World Mall is part of Salomon’s broader “core city, core location” retail strategy and incorporates elements of the brand’s “Blue Perspective” sustainability initiative.

EXEC: Sweden’s WeSports Group’s Q2 Sales Jump 55 Percent On Cycling and Running Strength

WS WeSports Group, the Sweden-based manufacturer of sports equipment and parent of a number of specialty retailers, reported sales in the second quarter catapulted 54.7 percent to SEK 1,177.6 million ($123 mm) from SEK 761.4 a year ago. Organic growth amounted to 21.6 percent. WeSport said in its quarterly report, “Growth was primarily driven by our […]

EXEC: Birkenstock Hikes Fiscal Q3 Revenues Climb Double-Digits Across Regions

Birkenstock Holding plc raised its full-year guidance for revenues and adjusted operating earnings after seeing double-digit growth across all regions. On an analyst call, Oliver Reichert, CEO, said the gains were boosted by the continued expansion of its closed-toe business, led by newness in both clogs and shoes.