Certor Sports named Jeremy Erspamer its CEO, overseeing Certor Sports’ portfolio, including Schutt, Tucci and Vicis.
Month: August 2023
Dillard’s Sees Decline in Q2 Profits as Comp Decline 3 Percent
Dillard’s, Inc.’s earnings declined 19.5 percent in the second quarter as same-store sales decreased 3 percent. Dillard’s CEO William T. Dillard, II, stated, “The cautious consumer we noted in the first quarter continued in the first few weeks of the second, leading to a sales decline of 3 percent.”
SportChek’s Sales Flattish in Second Quarter
Canadian Tire Corporation, Ltd. reported SportChek’s comparable sales were up 0.1 percent in the second quarter ended July 1. Team sports and lifestyle footwear grew, while athletic clothing and outerwear were down. Canadian Tire’s overall comps were up 0.1 percent.
Leatt Corp. Q2 Hurt by Body Armour Decline Offsetting Continued Helmet Growth
The company said 2023 continues to be challenging for the entire MOTO and MTB industry due largely to post-Covid stocking and sell-through dynamics. DTC sales grew as a percent in the quarter.
Sportsman’s Warehouse Opens 9th Store in Colorado
Sportsman’s Warehouse Holdings Inc. opened its second location in Colorado Springs, marking its ninth in Colorado.
Hanesbrands Sees Champion Brand’s Continued Slide in Q2 Offset Gains Elsewhere
On a constant-currency basis, net sales decreased 4 percent, with growth in U.S. Innerwear and Champion in Asia more than offset by a decline in U.S. Activewear and the continued macro-driven slowdown in consumer spending impacting Australia.
Yeti Holdings Lifts EPS Outlook On Margin Improvement
Yeti Holdings, Inc. reported earnings and sales declined in the second quarter in part due to its soft cooler recall. Sales on an adjusted basis increased 2 percent and both earnings and sales topped analyst targets. Yeti raised its EPS guidance for the year and predicted a return to double-digit growth in the fourth quarter.
EXEC: Nautilus Sees Direct Business Improving on Momentum in Strength Products
Nautilus Inc., the parent of Bowflex and Schwinn fitness equipment, significantly reduced its loss in its fiscal first quarter ended June 30 due to improved margins and lower costs. Sales were again down sharply with retail segment sales impacted by high marketplace inventories, but the direct segment showed improving trends, including flat sales across strength products.
Wolverine World Wide, Inc. Cuts 2023 Outlook After Disappointing Q2 Results
Revenue for Q2 declined 17.3 percent in constant-currency terms to $589.1 million, compared to $713.6 million in the year-ago quarter. Revenue from the ongoing business was $578.2 million, declining 13.8 percent on a constant-currency basis.
Wolverine Worldwide Appoints New CEO as Brendan Hoffman Departs
The Board of Directors appointed Chris Hufnagel as president and CEO of the company and a member of the Board of Directors, effective immediately. He succeeds Brendan L. Hoffman, who is no longer with the company
ThredUp Inc. Narrows Q2 Loss on Revenue Increase, RaaS Ramp-Up
The company reported 1.7 million Active Buyers and Orders of 1.8 million in the second quarter, representing a decrease of 0.8 percent and an increase of 5 percent, respectively, year-over-year.
Ammo, Inc. Sales Implode in Fiscal Q1; Margins Grow as Business Transitions to Brass
The company said that margins in its Marketplace segment remained strong and gross margins had increased in its Ammunition segment as they began to see the benefits of transitioning to a leaner operating model with a higher focus on brass (ammunition) sales.
Nautilus, Inc. Shrinks Loss in Q1 but Sales Drop 24 Percent
Nautilus, Inc., the parent of Bowflex, slashed its loss in the fiscal first quarter ended June 30 due to an uptick in gross margins and a steep reduction in expenses with the year-ago period including a $27.0 million asset impairment charge. Sales were down 23.8 percent with a decline of 17.5 percent in the Direct segment and 29.0 percent in the Retail segment.
Outdoorsy Launches ‘Oasis Fund’ to Capitalize on Glamping’s Growth
Travel marketplace Outdoorsy launched the Oasis Fund, a $30 million initiative to provide funding for the purchase of safari glamping tents for eligible entrepreneurs looking to become part of what the company calls “the glamping revolution.”
EXEC: Allbirds Shares Pop As Transformation Efforts Gain Traction
Allbirds reported a loss in the second quarter, but the period marked the troubled eco-friendly sneaker seller’s second quarter in a row of top- and bottom-line results above expectations. Company officials told analysts that its transformation efforts included a refocus on core styles, including the Wool Runner and Tree Dasher, which had made progress.
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