Osprey announced a new program aimed to support independent specialty retailers as they begin to open following the COVID-19 pandemic. The new “Buy Online, Fit In-Store Program” is designed to drive customers to Osprey specialty retail partners.
Author: SGB Media
Vista Outdoor Closes Book On Transformational Fiscal Year
When Vista Outdoor Inc. ended its fiscal fourth quarter on March 31, the Anoka, MN-based company closed the book on a transformational year that included a portfolio shakeup, business segment realignment and, of course, an economy-crushing pandemic that drastically altered the demand environment.
Peloton Gains Steam As New Exercise Trends Create Tailwind
In the early days of the coronavirus, when shelter-in-place orders were announced and gyms around the country were forced to close, Peloton Interactive Inc. was identified as a potential beneficiary. Things didn’t go quite so well for Peloton initially, but the company’s fortunes have improved, as evidenced by its fiscal third-quarter earnings.
YNIQ Announces North American Distribution
YNIQ Sweden (Spoxury TR Group AB) announced the formation of its North American distribution, YNIQ North America, under the umbrella ownership of Wedge Brands, LLC, formerly ZG Holdings.
Vista Outdoor Posts Q4 Loss On Impairment Charges
Vista Outdoor Inc. reported a steep loss in the fourth quarter ended March 31 after impairment charges as sales fell 8 percent adjusted for the sale of the firearms business. The company also provided an update on its business operations and announced a realignment of its reporting segments to better reflect the company’s strategic focus.
Puma’s Q1 Earnings Decline 62 Percent
Puma reported that its first-quarter earnings were dragged down by the coronavirus pandemic while warning of a bigger impact in the second quarter.
Acushnet Posts Steep Q1 Profit Decline On COVID-19 Impact
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported net income dropped 74.5 percent, adjusted EBITDA slid 17.8 percent and sales were down 5.8 percent in the first quarter.
SportChek’s Q1 Sales Slump 13.1 Percent
Canadian Tire Inc. reported sales in its SportChek segment decreased 13.1 percent while comparable sales decreased 1.8 percent. Helly Hansen’s revenue in the quarter was $121.5 million, a decrease of 7.3 percent. On a constant currency basis, Helly Hansen revenue grew 0.6 percent.
Yeti’s Q1 Sales Climb 12 Percent, Details COVID-19 Response Plan
Yeti Inc reported sales grew 12 percent in the first quarter but declined 25 percent in the final two weeks due to the impact of the pandemic. The company withdrew its full-year outlook and detailed an action plan to respond to the COVID-19 pandemic.
Sturm Ruger’s Q1 Profits Climb 18.5 Percent
Sturm, Ruger & Company Inc. reported net earnings rose 18.5 percent in the first quarter on an 8.4 percent revenue gain.
Fitbit’s Device Sales Sink 26 Percent In Q1
Fitbit Inc. reported that it sold 2.2 million devices in the first quarter, down 26 percent year-over-year, leading to a 30.8 percent in revenue decline to $188.2 million. That missed Wall Street’s expectations by $80.4 million.
Dick’s Sporting Goods Re-Opens In 23 States
Dick’s Sporting Goods has re-opened locations in 23 states with new social distancing guidelines and the retention of curbside pickup.
Peloton Raises Full-Year Guidance
In just its third quarterly earnings report since going public, Peloton Interactive Inc. notched another revenue beat as the company grew its number of connected fitness subscribers 94 percent to 886,100 and its total members to more than 2.6 million. The company also raised its full-year guidance.
Fox Factory’s Adjusted Q1 Profits Slip
Fox Factory Holding reported earnings on an adjusted basis declined slightly in the first quarter. Revenues grew 14 percent as strong gains in Powered Vehicles Group due to acquisitions offset a 1.8 percent decrease in Specialty Sports Group sales.
Gap Inc. Outlines Strategic Plan For Store Re-Openings
Gap Inc. said it’s preparing to re-open up to 800 of its Old Navy, Athleta, Gap, Banana Republic, Janie and Jack and Intermix stores before the end of the month, starting with a small selection of locations in Texas this weekend. The company’s top priority remains the health and safety of its employees, customers and communities.
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