Wolverine Worldwide reported sales dropped 39 percent in the second quarter but came in better than expected with a boost from almost triple-digit owned e-commerce growth. The parent of Merrell, Sperry, Saucony and other footwear brands also managed to post a profit in the period and “exceptional cash flow”.
Month: August 2020
Acushnet Holdings’ Q2 Revenues Slump 35 Percent
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported second-quarter net income down 94.0 percent, adjusted EBITDA fell 56.3 percent and sales slid 35.1 percent.
Igloo Announces Board Of Director Appointment
Igloo announced that Andrew Perlmutter will join Igloo Product Corp.’s Board of Directors. Known in the pop culture world as a brand builder, Perlmutter joins the brand with decades of expertise and is aligned to guide Igloo’s strategic initiatives for the Playmate collection through licensing and partnerships.
Nike Eyes 500 Layoffs At Oregon HQ
Nike announced layoffs that will eliminate at least 500 jobs at the company’s world headquarters in Oregon, according to the state of Oregon’s Worker Adjustment and Retraining Notification website.
Planet Fitness Posts Q2 Loss As Revenues Fall 78 Percent
Planet Fitness, Inc. reported total revenue decreased 77.9 percent to $40.2 million in the second quarter ended June 30, compared to the prior-year period. The net loss attributable to Planet Fitness, Inc. was $29.2 million, compared to net income of $34.8 million in the prior-year period.
Boot Barn Gets E-Comm Lift in Fiscal Q1 To Partially Offset Retail Store Decline
Boot Barn Holdings, Inc. reported that net sales decreased 20.5 percent to $147.8 million in the first fiscal quarter ended June 27. Same-store sales decreased 14.9 percent, comprised of a 27.1 percent decrease in retail store same-store sales and a 51.9 percent increase in e-commerce sales.
ATTA Sees U.S. Packaged Adventure Travel Bouncing Back Faster Than Other Travel
The U.S. Adventure Traveler Sentiment June/July 2020 report revealed that U.S. consumers of ATTA adventure tour operators are expected to resume near pre-COVID-19 level travel spending in 2021, spending an estimated 7 percent less than their 2019 travel expenditure.
Weyco Group Posts Q2 Loss As Sales Fall 72 Percent
Weyco Group, Inc. reported that net sales were $16.7 million for the second quarter ended June 30, down approximately 72 percent compared to $60.5 million in the year-ago quarter. Diluted loss per share was 91 cents in Q2 compared to diluted earnings per share of 15 cents in Q2 last year.
SGB Media Reports Most Read Stories for July 2020
With a lack of big earnings stories early in the month, the most-read SGB Media business-to-business stories in July tended to be heavily wighted toward new hires and jobs across the active lifestyle industry.
Ruger Sees Demand For Firearms Peaking
“This is probably the strongest level of demand that I’ve seen,” said Chris Killoy, CEO at Sturm Ruger & Co., when asked on the company’s second-quarter conference call about the recent surge in demand for firearms that’s been fueled by anxieties over COVID-19 and civil unrest.
Trump Signs Great American Outdoors Act Into Law
The Outdoor Industry Association and NSSF are both celebrating after President Trump signed the ‘Great American Outdoors Act’ into law.
OR Parent Making “Significant Progress” With Virtual Events
Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, saw second-quarter revenues collapse as it was forced to cancel 60 events and postpone 14 others due to COVID-19. But company officials said it’s making “significant progress” with an ongoing organizational restructure and its virtual events are seeing a strong response.
Adidas AG Extends CEO’s Appointment Through July 2026
The Supervisory Board of Adidas AG has extended the appointment of CEO Kasper Rorsted by another five years until July 31, 2026.
Amer Sports Q2 Revenues Sink 36 Percent
Amer Sports’ revenues fell 36 percent in the second quarter, driving a 22 percent decline in the first half of the year, according to debt reviews from Moody’s and S&P. Bot rating agencies affirmed Amer has adequate liquidity to operate through the year and each assigned a low investment-grade rating of B3 and B- on Amer’s new €100 million facility.
Gaia’s Q2 Revenues Expand 23 Percent
Gaia, Inc., the lifestyle media company, reported revenues in the second quarter increased 23 percent to $16.2 million from $13.2 million in the year-ago quarter.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal