Sturm, Ruger & Company, Inc. reported second-quarter net sales were $142.8 million, compared to net sales of $140.7 million in the year-ago quarter. Diluted earnings were 91 cents per share for Q2, compared to $1.17 per share in the prior-year period.
Author: SGB Media
ICSC: Majority of BTS Shoppers Spending More in 2023 Due to Inflation, Higher Prices
While inflation is a partial driver of higher spending, the data found that the consumer remains resilient, but focused on deal-hunting for the best prices in the face of rising costs.
EXEC: Adidas Says No More Yeezy After Sell-Off Despite Flat Q2, Profit Bump
On Thursday, Adidas raised its earnings outlook for the year, in part because of demand for the company’s remaining stock of its discontinued Yeezy merchandise. The brand was boosted by the margin benefit from reduced inventory levels in the marketplace and China’s continuing recovery.
Tractor Supply Names Food Lion President as Newest Board Member
Tractor Supply Company appointed Meg Ham as an independent member of its Board of Directors, effective August 2. TSC said Ham brings a distinguished 35-year career in the retail industry and is the president of Food Lion.
Study: Golf Distance Measuring Device Market Down, but Outpaces Pre-COVID Levels
The Distance Measuring Device (DMD) category declined in 2022, with total U.S. market revenues of nearly $180 million and remains more significant than hybrid clubs and slightly smaller than putters, according to Golf Datatech’s Sixth Edition of a comprehensive study covering the DMD market.
Kontoor Brands Sees Flat Sales In Q2, Eyes Return to Growth in Q3
Kontoor Brands, Inc., the parent of Wrangler and Lee jeans, reported flat sales in the second quarter ended July 1 as gains in direct-to-consumer (DTC) and international offset decreases in U.S. wholesale. Kontoor said it sees shipments better aligned with POS in the U.S. and expects a return to healthy growth in the third quarter. Kontoor reiterated guidance for the year.
WFSGI Sets CEO Succession Plan
The World Federation of the Sporting Goods Industry (WFSGI) said Emma (Mason) Zwiebler will replace Robbert de Kock as CEO of the organization effective November 1.
Traeger’s Q2 Revenues Decline 14 Percent, Lifts Outlook
Traeger, Inc. reported sales declined 14.4 percent in the second quarter that ended June 30 due to inventory destocking in the marketplace and lower demand, but it raised its outlook for the year as results topped expectations. The grill maker narrowed its loss in the period.
The Buckle Sees Slight Decline in July Comp
The Buckle, Inc.’s comparable store net sales for the 4-week period ended July 29 decreased 1.3 percent year-over-year. Comparable store net sales year-to-date for the 26-week period decreased 6.3 percent.
Planet Fitness Sees Same-Store System Sales Improve 9 Percent In Q2
Planet Fitness, Inc. reported sales grew 27.6 percent in the second quarter ended June 30 with system-wide same-store sales increasing 8.7 percent on strong member growth. The fitness chain nonetheless slightly reduced its growth targets for the year due to higher new store construction costs and increased interest rates.
Gildan Lowers Full-Year Outlook as Negative Market Forces Threaten Upside
While net sales for Q2 were said to be above the company’s expectations at $840 million, Gildan said it sees current market conditions unfavorably impact activewear product mix, both in North American and International markets, as customers focus on lower-priced products.
Canada Goose’s Q1 Sales Expand 21 Percent, Topping Expectations
Canada Goose Holdings, Inc. reported a slightly wider loss in the fiscal first quarter ended July 2 despite 21 percent sales growth. Both sales and earnings topped guidance, and the outerwear maker reiterated its outlook for its fiscal year.
Solo Brands Sees DTC Business Shrink in Q2 as Wholesale Sets Growth Pace
Solo Brands, Inc. saw second-quarter net sales decrease 3.7 percent to $130.9 million. Continued expansion of the wholesale network reportedly led to an increase in Wholesale channel revenue, offset by a decrease in the DTC channel.
Titleist Parent Sees 6.4 Percent Currency-Neutral Growth in Q2
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported second-quarter sales rose 4.7 percent on a reported basis and 6.4 percent in constant currency, driven by double-digit growth in golf balls and golf clubs. Net income increased 12.3 percent, while adjusted EBITDA gained 24.0 percent. Acushnet slightly lifted its guidance for the year.
EXEC: Boot Barn Ups Full-Year Outlook as Fiscal Q1 Improves and Q2 Off to Strong Start
Fiscal first-quarter net sales increased 4.9 percent to $384 million. The sales performance was said to benefit from new stores opening during the past 12 months, partially offset by a consolidated same-store sales decline of 2.9 percent.
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