SGB Executive Sports & Fitness
EXEC: Topgolf Callaway CEO Eyes Sales Pickup for Golf Businesses in Back Half
Topgolf Callaway Brands reduced its sales outlook for the year due to weakness at Jack Wolfskin and currency headwinds seen in the first quarter, but officials on an analyst call said that overall profitability came in significantly better than expected and its Topgolf and Golf Equipment segments are both positioned to accelerate growth in the second half.
EXEC: Sportchek, Mark’s and Helly Hansen all Post Q1 Declines for Parent CTC
Helly Hansen sales, which covers the international wholesale and retail businesses that operate under the Helly Hansen and Musto names and trademarks, were down 7.8 percent year-over-year in Q1 to C$192.2 million.
EXEC: Puma Sees U.S. Returning to Growth in Second Half
Puma’s sales in the Americas region returned to growth in the first quarter due to gains in Latin America and overall strength in performance and retro footwear styles. North America delivered sequential improvement and remains on track to resume growth in the second half, Puma officials said on a media call.
EXEC: Wolverine Worldwide CEO Outlines Transformation Progress To-Date
The company is beginning to see sequential improvement in its selling trends and that is said providing a level of confidence that the developed strategies and tactics are beginning to gain traction.
Topgolf Callaway Lowers FY Sales Outlook on Wolfskin Softness, FX Headwinds
Topgolf Callaway Brands Corp. reported sales were in line and earnings topped expectations in the first quarter as strength at Topgolf and in the Golf Equipment segment offset double-digit declines in its Active Lifestyle. Full-year guidance was maintained for adjusted earnings but lowered for sales due to currency headwinds and weakness at Jack Wolfskin.
EXEC: JD Sports Fashion to See Company Board Shift at Annual Meeting
Mahbobeh Sabetnia, a non-executive director and member of the Remuneration Committee, has decided not to stand for re-election at the company’s Annual General Meeting on June 27.
EXEC: Big 5 CEO Details Q1 Challenges; Offers Tepid Outlook for Near Term
The retailer has continued to feel the effects from the ongoing macro headwinds that are impacting consumer discretionary spending in the second quarter-to-date as same-store sales are running down despite a benefit from an extra day due to the Easter shift.
EXEC: Adidas Swings to Q1 Profit as DTC Drives Top-Line Growth
Footwear revenues grew 13 percent in Q1, said to be driven by the strong brand momentum, particularly in the Originals and Football categories, and Apparel sales were up 2 percent in the period. Accessories grew 1 percent.
EXEC: Kappa Retail Stores in China See Comp Sales Decline in Fiscal Q4
Same-store sales recorded a high-single-digit decline on a year-over-year basis for Kappa-branded stores that have been in operation since the beginning of the prior-year fourth quarter.
EXEC: Thule Gets Shot in the Arm from Resurgent Bike Business in Q1
In the Americas, the recovery of the cycling market boosted bike-related products sales, but Packs, Bags & Luggage category sales declined due to “significantly lower” sales of legacy products that are phasing out gradually.
EXEC: Columbia Using Temp Stores to Offload Excess Goods as it Fights to Right-Size
While the company is focused on improving the Columbia, Sorel and Prana businesses through investments in innovation and marketing, the company only has to look as far as its Mountain Hardwear brand and new leadership and direction to see early results of similar efforts.
EXEC: Mips Continues to Turn the Business Around in Q1 After Tough 2023
For the consecutive second quarter, Mips delivered growth in the Bike sub-category and has seen inventory levels of helmets with consumers and retailers returning to healthier levels.
EXEC: Ahead, Craft, Cutter & Buck Parent Sees Sales Decline Cut into Bottom Line
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson reported that first-quarter net sales decreased 7 percent to SEK 1.995 billion. Regionally, Central Europe, followed by the U.S., performed best in sales volume.
EXEC: Johnson Health Tech Retail Finalizes Bowflex Acquistion
Johnson Health Tech Retail intends to fold the existing BowFlex and Schwinn operations into its North American sporting goods/e-commerce group. The company reported that BowFlex will complement its team with experts from the BowFlex organization.
EXEC: Shimano Q1 Sales Down 20 Percent on Continued Bikes and Fishing Weakness
In this current macroeconomic environment, the company said demand for bikes and fishing tackle continued to be weak, and for the first quarter of fiscal year 2024, net sales decreased 20.2 percent year-over-year to ¥100.5 billion.
