U.S. Customer Satisfaction Falls in First Quarter
The American Customer Satisfaction Index has remained flat or dropped in four consecutive quarters, something that has not occurred since the COVID pandemic.
EXEC: Under Armour’s Turnaround On Track, Forgoes FY Guidance on Tariff Uncertainty
Under Armour, Inc. saw another quarter of progress in its turnaround efforts but refrained from providing guidance for the full year due to the tariff situation. Officials told analysts they’re exploring “a range of mitigation strategies” to offset tariffs, including cost sharing, sourcing diversification and potential price adjustments.
EXEC: On Holding Beats Q1 Expectations as DTC Rocks; Raises FY Guide
On Holding posted 40 percent net sales growth on a constant-currency basis in Q1. The updated outlook implies a constant-currency net sales growth rate of close to 25 percent for the remaining nine months of the year.
EXEC: Yonex Sees Racquet Sports Boost from Summer Olympics
Japan-based racquet sports and golf equipment manufacturer Yonex Company, Ltd. reported revenues expanded 18.8 percent in its fiscal year ended March 31 to ¥138.2 billion ($936 mm). Sales for Badminton and Tennis increased in Japan and overseas due to strong demand.
EXEC: Large Asian Athletic and Outdoor FW Maker Hurt by Margin Pressures
Yue Yuen reported a modest gain in first-quarter sales as a high-single-digit gain in its manufacturing business offset a decline in the Pou Sheng China retail business. Profits declined 24.2 percent in the period ended March 31 due to lower margins in both segments.
Saks Hires Financial Advisors
Saks Global Enterprises has hired PJT Partners, Kirkland & Ellis and Bank of America Corp. to help the retailer explore ways to raise new financing alongside the asset-based loan it is pursuing.
Kohl’s Proposes Private Offering Of Senior Notes
Kohl’s Corp. launched a private offering of approximately $360 million aggregate principal amount of senior secured notes due 2030.
Academy Sports Board Member Resigns
Scott Boatwright, an independent board member, has resigned as a director, reducing the size of its board from eleven to ten directors.
Solo Brands’ Q1 Sales Slide 9.5 Percent On Solo Stove’s Restructuring
Solo Brands Inc’s. sales declined 9.5 percent in the first quarter ended March 31 as Solo Stove’s revenues tumbled 49 percent, as planned, due to efforts to reduce discounting and promotion in its DTC channel. The company showed a loss in the period and reiterated its going concern warning.
EXEC: Mizuno’s Annual Sales and Profits Reach Record Levels; Golf and Running Lag
In the Americas region, Mizuno sales grew 6.2 percent on strength in golf and volleyball, while operating profits improved 18.3 percent year-over-year. The company said there is a sense of a lull in the expansion of the golf market, which has continued over the past few years.
Under Armour Fiscal Q4 Revenues Slump 11 Percent; Expects MSD Decline In Q1
Under Armour, Inc.’s revenues declined 11 percent in the fourth quarter and 9 percent in the fiscal year ended March 31, but both sales and adjusted earnings topped guidance.
On Holding’s Q1 Sales Top Expectations, Trims FY Profit Guidance
The Swiss running brand slightly lowered its earnings expectations as tariffs have introduced higher levels of planning uncertainty but slightly raised its it sales expectations for the year.
Callaway Golf Sees Golf Equipment as Least Weakest Link in Company’s Q1 Results
Topgolf segment revenue decreased $29.1 million to $393.7 million, with a decline in same-venue sales offsetting revenue from new venues. Same-venue sales declined 12 percent, in line with expectations.
Rural King Opens New Warren, Ohio Store
With a legacy spanning over six decades, the new family-owned store offers mobile and self-checkouts, and carries outdoor brands including Carhartt, Blackstone, Big Green Egg, Ariat, Under Armour, Black Rifle Coffee Company, Walnut Creek Foods, and Henry Rifles, focusing on serving diverse customer needs.
EXEC: U.S. and China Agree to 90-Day Tariff Pause
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.
