The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
Author: SGB Media
GSM Outdoors Expands Brand Stable with Camillus, Cuda Acquisitions
GSM Outdoors acquired Camillus Cutlery, founded in 1876, one of the oldest knife manufacturers in the United States, and announced the acquisition of the Cuda fishing tools brand.
Gildan Activewear Sees Modest Sales Growth in Third Quarter
Gildan Activewear, Inc. reported sales grew 2 percent in the third quarter with flat sales in activewear and gains in the hosiery and underwear category. Results were in line with expectations with the sales gains following several quarters of declines. The company, however, now sees sales and earnings landing at the lower end of guidance due to macroeconomic pressures.
Birkenstock Makes Loan Repayments Following IPO; Debt Now at €1.3 Billion
The company made an early repayment of $450 million on its U.S. dollar Term Loan B and €100 million on its euro Vendor Loan. Both loans were solely issued to finance the acquisition of Birkenstock by L Catterton in April 2021.
Peloton Narrows Fiscal Q1 Loss as Company Gets Control of Inventory and Costs
Across the bike portfolio, the blended landed cost per unit was down 17 percent year-over-year as inventory sold last year was burdened with high historical inbound logistics costs. Last mile cost per delivery was down 36 percent year-over-year.
Titleist Parent Lifts Annual Earnings Outlook on Golf Club and Ball Strength
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported net earnings rose 10.6 percent in the third quarter on a 6.3 percent revenue gain. The increases were led by double-digit growth in club sales with with a 6.3 percent increase in balls. Revenue guidance for the year was reaffirmed and earnings guidance slightly raised.
Crocs, Inc. Lowers Outlook On Continued HeyDude Weakness
Crocs, Inc. topped expectations for Q3 but guidance for the year was reduced as sales targets for HeyDude for the year were reduced for the second straight quarter.
Report: Authentic and WHP Global Exploring Champion Acquisition
Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale.
Topgolf Callaway Acquires BigShots Golf
Topgolf Callaway Brands Corp. reported that the company purchased certain assets from Invited, Inc., the largest owner and operator of private golf clubs in the U.S., related to its BigShots Golf business.
Sturm Ruger’s Q3 Sales Decline 13 Percent
Sturm, Ruger & Company, Inc.’s sales declined 13.3 percent in the third quarter, to $120.9 million from $139.4 million a year ago. Earnings fell 40.4 percent to $7.43 million, or 42 cents a share, from $18.4 million, or $2.13, a year ago.
Camping World Q3 Profit Falls 70 Percent as Inventory Cleared
As the procurement prices of model year 2024 new vehicles declined compared to model years 2022 and 2023, the company actively discounted certain used vehicles in Q3 to reduce inventory levels of aged used vehicles.
Vista Outdoor’s Revenues Decline 13 Percent in Fiscal Second Quarter
Vista Outdoor, Inc. reported sales dropped 13 percent in the fiscal second quarter ended September 24 with declines of 19 percent in its Sporting Products segment and 6 percent in its Outdoor Products segment. Earnings and sales results were in line with updated guidance given on October 16.
Rocky Brands’ Q3 Profits Improve 20 Percent
Rocky Brands, Inc. reported profits rose 20 percent in the third quarter ended September 30 due to the benefits of pricing actions taken in the second half of 2022 as well as lower costs. Sales were down 14.8 percent in the period but the rate improved versus the second quarter with a benefit from improved retailer inventory positions.
Nordica Appoints U.S. National Sales Manager
Nordica recently hired Andy Lovell as U.S. national sales manager. He is a 20-year veteran of the active outdoor industry. Most recently, Lovell was the global key accounts manager for W.L. Gore & Associates.
Riddell Extends NFL Helmet Partnership Through 2030 Season
Riddell has inked a 7-year extension of its partnership with the National Football League and will continue to serve as the Exclusive Licensee of Collectible Helmets and an Authorized Supplier of Helmets to the NFL through the 2030 season.
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