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.
Author: SGB Media
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.
NPD: Weekly Retail Spending Up 7 Percent Sequentially
Retail spending rose 7 percent for the week ending April 25 compared to the prior week, according to The NPD Group. Sales were flat year-over-year during the same period — the first time sales didn’t decline since early March.
Safilo Group’s Q1 Dragged Down By COVID-19 Impact
Safilo Group S.p.A., the parent of Smith Optics, reported earnings eroded sharply and sales fell 11.5 percent at constant exchange rates in the wake of the coronavirus outbreak.
Kohl’s Begins Reopening Stores
Kohl’s Corp has re-opened stores in Arkansas, Oklahoma, South Carolina and Utah in its first steps to re-open stores amid the pandemic.
NRF Chief Economist: Recovery Likely To Come In ‘Fits And Starts’
With some stores starting to reopen as governors lift stay-at-home orders across the country, economic recovery from the coronavirus pandemic is likely to come gradually and may vary by location, NRF Chief Economist Jack Kleinhenz said Wednesday.
Fitbit Announces Large-Scale Study To Identify Atrial Fibrillation
Fitbit launched the Fitbit Heart Study, its first large-scale, virtual study to validate the use of its wearable technology to identify episodes of irregular heart rhythm suggestive of atrial fibrillation (AFib)
Kitsbow Appoints Andrew Chmar To Board of Directors
Kitsbow, maker of cycling clothing, announced that Andrew Chmar has joined Kitsbow’s Board of Directors. An expert logician having served in the U.S. Army for more than two decades, Chmar brings extensive expertise in strategic planning and operational management to the Kitsbow board.
SFIA’s State of the Industry Report Shows 3.9 Percent Growth In 2019
The sports and fitness industry performed well across multiple sectors in 2019, according to the Sports & Fitness Industry Association’s annual State of the Industry Report. In 2019, the industry grew 3.9 percent in one year, representing the largest annual growth in 17 years.
How Nautilus Met The Coronavirus-Driven At-Home Fitness Demand
Count Nautilus Inc. among the so-called “winners” to emerge during the time of coronavirus. Not only did shelter-in-place orders result in closed gyms and heightened social distancing measures over the last two months, forcing people to exercise in the comfort—and safety—of their own homes, but fears of a second wave of COVID-19 are likely to further drive that trend.
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