EXEC: U.S. and China Agree to 90-Day Tariff Pause; Asia FW Shipments Rose in April
In announcing a pause on the tariff war, the U.S. tariffs were cut to 30 percent from 145 percent, and the China tariffs on U.S. goods were cut to 10 percent from 125 percent as the two countries work to develop a long-term deal.
EXEC: Havaianas Brand Posts Double-Digit Q1 Growth on Robust Brazil Sell-In
Brazil-based Alpargatas reported sales grew 17.5 percent in the first quarter with healthy growth for Havaianas in Brazil and at Rothy’s. On a constant-currency (cc) basis, Havaianas sales in the U.S. were up slightly but declined in Europe and in distributor markets.
EXEC: Peloton CEO Highlights Four “Objectives” to Drive Growth
The operator of a connected fitness platform in North America and internationally raised its full-year guidance for the third quarter. Recently hired CEO, Peter Stern, highlighted four objectives on an analyst call for engaging current and new members to fuel growth.
EXEC: Saucony is the New Darling for Wolverine Worldwide as Sales Jump 30 Percent in Q1
The Saucony brand is clearly the new darling at its parent company in Grand Rapids, Michigan, delivering revenue growth of 31.1 percent in constant-currency terms in Q1, but is also gaining steam in China, where the licensee there reported 40 percent growth.
EXEC: Merrell Parent’s CEO Lays Out Q1 Results, Tariff Plans and Q2 Growth Estimates
Wolverine Worldwide first quarter revenue grew by over 5 percent on an ongoing basis and nearly 7 percent on a constant-currency basis, with the results driven by the company’s two biggest brands: Saucony and Merrell.
EXEC: Clarus Promotes Tripp Wyckoff to Managing Director of Rack Segment
Wyckoff previous served eight years as VP of sales, marketing and service at Thule, where he reportedly grew the brand significantly in the U.S. and was primarily responsible for bringing to market global initiatives, building one-on-one customer relationships and integrating key acquisitions.
EXEC: Black Diamond Parent Finds Private Investment Buyer for Pieps Business
Clarus Corporation, owner of the Black Diamond, RockyMounts, MaxTrax, and Rhino-Rack brands, has secured a buyer for the Pieps GmbH avalanche beacon brand and assets of the JetForce avalanche pack intellectual property.
EXEC: Yeti Slashes Guidance on Product Delays, Tariffs Fallout
Yeti’s moves to shift production out of China are ahead of plan with 90 percent of its U.S. drinkware capacity expected to be ex-China by the end of the year. However, delays caused by the sourcing shifts as well as the tariffs themselves caused the Yeti to ax its guidance for the year.
EXEC: Crocs Seeks $50 Million in Cost Savings to Offset Tariffs
On Crocs Inc.’s Q1 analyst call, Andrew Rees, CEO, said the footwear maker suspended its guidance for 2025 primarily due to the company’s inability to forecast the financial impact from future tariffs and identified a further $50 million in additional savings to offset the potential fallout.
EXEC: REI Members Reject Three Co-op Backed Board of Director Candidates
Employees and organizers of the REI Union effort have taken credit for running a successful and disruptive attempt to reject the candidates put forward by the co-op’s current Board of Directors and offered up their candidates
EXEC: REI Co-op Halves 2024 Net Loss, Improves Margins, Reduces Inventories
The co-op reported that 2024 net sales declined ~6.2 percent to $3.53 billion, compared to $3.76 billion in 2023, while investing over $282 million back into the co-op community and ending the year in a cash flow neutral position.
EXEC: Puma SE Profit Plunges on Flat Q1 Sales Growth; Confirms 500 Position Cuts
The company reported flat year-over-year sales growth in the first quarter on a currency-adjusted basis and a 1.3 percent decline in reported terms, as Wholesale fell behind and DTC sales posted double-digit growth.
EXEC: Under Armour’s and Mizuno’s So. America Partner Posts High-Teens Q1 Growth
The company, which manages the Under Armour, Mizuno and Olympikus brands in South America, said in its Q1 report that the e-commerce channel continued its strong growth trajectory during the first quarter, posting a 53.8 percent y/y increase for the quarter.
Lowa Revenues Inched Up in 2024 Led by Kids, Winter Shoes and Trail Running
Lowa Sportschuhe GmbH reported sales grew 1.9 percent in 2024 to €233.9 million ($246 mm), marking the second-best result in the German company’s history. Kids, winter shoes and trail running segments led the gains.
EXEC: Titleist Parent Says Tariff Pricing Actions Would Be “Last Lever” Taken
The parent of the Titliest and FootJoy golf brands, delivered a healthy Q1 with both earnings and sales exceeding analyst estimates. Still, management declined to raise the company’s outlook due to uncertainties in the marketplace tied to tariffs and expects some pricing actions to offset the related costs.
