Adidas reported continued double-digit growth in Western markets in the first quarter, but overall sales were down 3 percent on a currency-neutral basis due to supply chain disruptions and a 35 percent tumble in Greater China. FY22 earnings and sales are now expected to reach the lower end of guidance due to the impact of COVID-19-related lockdowns in Greater China.
Author: SGB Media
Under Armour Sees 3 Percent Growth In March Quarter
Under Armour reported sales grew 3 percent in its transition quarter ended March 31 and forecasted sales for the current fiscal year would expand in the range of 5 percent to 7 percent. Sales and the adjusted loss in the period were slightly below Wall Street’s expectations.
Sorel And Prana Launch Limited-Edition Collection
Through collaboration, Sorel and Prana launched a limited-edition footwear and activewear collection. “Sorel and Prana prioritize combining function and style for individuals who keep on the move,” said Natalie Hayes, vice president, global marketing, Sorel. “In working with Prana, we were able to deliver a thoughtful collaboration that empowers people to move confidently while celebrating […]
GoPro’s Sales Climb 6 Percent In The First Quarter
GoPro Inc. reported a profit against a loss in the first quarter as sales grew 6 percent. GoPro subscribers jumped 85 percent year-over-year to 1.74 million.
United Sports Brands Acquires Pearl Izumi
United Sports Brands announced that it has acquired Pearl Izumi USA, the manufacturer of cycling apparel and accessories. Pearl Izumi will join USB’s portfolio of protective and performance sports equipment sold under the Shock Doctor, McDavid, Cutters, Nathan, and Glukos brands.
Leadership Succession At Chattanooga Shooting Supplies
Ron Staffieri, CEO of Chattanooga Shooting Supplies (CSSI), will retire on December 31, 2022. As part of a succession plan, Bill Sumner has been appointed president effective June 30, 2022, at which time he will assume leadership responsibility for the company’s daily operations.
Newell Brands Appoints President And CFO
Newell Brands Inc. announced that Chris Peterson, chief financial officer and president, Business Operations, has been named president and chief financial officer.
Target Updates Leadership Team
Target Corporation announced a number of updates to its leadership team. This includes a new role for the company, focused on further differentiating the retailer’s end-to-end guest experience.
Adidas And Foot Locker Announce New Long-Term Strategic Partnership
Adidas AG and Foot Locker, Inc. announced a new partnership built around product, elevated and deeper consumer connectivity. This makes Foot Locker Adidas its lead partner in the basketball category.
Compass Diversified Sees 25 Percent Revenue Growth In Q1
Compass Diversified Holdings (CODI) reported earnings from continuing operations rose 41 percent as sales gained 25 percent. The parent of a number of businesses in the active lifestyle space raised its earnings guidance for the year.
Fox Factory Sees 34 Percent Growth In Q1
Fox Factory Holding Corp. reported earnings on an adjusted basis grew 44.5 percent in the first quarter ended April 1 on a 34.4 percent revenue gain.
Fanatics Appoints Two Board Members
Fanatics announced the appointment of Fintech, e-commerce and marketing executives Lydia Jett and Jonathan Mildenhall to its board of directors.
HanesBrands Sales Expand 7 Percent In First Quarter
HanesBrands, Inc. reported net sales in the first quarter increased 7 percent on a constant-currency basis with 6 percent growth for Champion on a global basis. U.S. Innerwear sales increased 1.5 percent over the prior year. Earnings and sales exceeded guidance and the company reaffirmed its guidance for the year.
HanesBrands Names President Of Global Activewear
HanesBrands announced that Vanessa LeFebvre was appointed president of global activewear. In this role, LeFebvre will drive global Champion brand growth focused on innovation, key markets and new channels.
Acushnet’s Q1 Revenues Gain 4 Percent
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported sales in the first quarter ended March 31 of $606.1 million, up 4.3 percent year over year and ahead 7.6 percent in constant currency. First-quarter net income reached $81.0 million, down 4.7 percent year over year.