Author: SGB Executive

Foot Locker reported second-quarter sales and earnings that crushed Wall Street targets, led by an uptick in sales from its women’s and kids categories as well as strong full-price selling. Upbeat guidance was also delivered for the second half as recent heightened supply chain risks are seen holding off until the end of the year.

The TJX Companies, Inc. reported second-quarter sales and earnings came in well ahead of management’s expectations as gangbuster sales in the home category continued and apparel gains accelerated from its recent momentum. Margins are expected to benefit going forward from continued robust growth and price adjustments.

Planet Fitness Inc. has regained approximately 75 percent of the members it lost from its peak numbers in Q120 to the low of Q420. Chris Rondeau, CEO, told analysts on a call, “We believe the unseasonal momentum and our membership gains are fueled by people recognizing the importance of self-care.”

SportChek’s same-store sales continued to see a strong recovery, jumping 28.6 percent in the second quarter ended July 3 year-over-year and advancing 5.1 percent over the 2019 second quarter. Canadian Tire Corp.’s officials said the growth reflected strong demand for casual wear as well as athletic footwear and apparel. The gains came despite inventory constraints.

On its first-quarter conference call, Canada Goose officials discussed the company’s strong digital momentum, the benefits Canadian manufacturing is providing amid the ongoing supply chain disruption and its confidence in its move to end the use of fur in its products.

Boosted by strong demand for its connected fitness offerings, Nautilus Inc.’s earnings and sales in its first quarter ended June 30 came in well ahead of guidance, but officials warned that higher commodity prices and transportation costs could weigh on margins over the next few quarters.

Johnson Outdoors reported sales ran up 54 percent year-over-year in the third quarter ended July 2, led by near double-digit gains in Camping and Dive segments. Investments are being made in air freight to help offset supply chain disruptions.

Delta Apparel Inc. reported sales jumped 65.3 percent in the third quarter ended July 3 to $118.7 million. Sales were relatively flat against 2019 third-quarter levels as a 36 percent increase at the Salt Life Group segment helped offset a 5 percent decline in the Delta Group segment. The sales performance was in line with an update provided in mid-July.

On its second-quarter conference call, Tom Florsheim, Weyco Group’s chairman and CEO, said Bogs “had an excellent spring” while warning that supply chain disruptions could restrain growth across its second half. Florsheim also sees strong growth potential for its just-acquired outdoor footwear brand, Forsake.

Acushnet Holdings Corp., the parent of Titleist, significantly lifted its guidance for the year after reporting another blowout quarter. The improved outlook comes despite the company facing raw material constraints and production challenges tied to recent spikes in COVID-19 cases.

Dorel Industries Inc. reported that its Dorel Sports segments delivered growth of 11.1 percent in the second quarter. Martin Schwartz, Dorel’s president and CEO, said on a quarterly analyst call, “Demand for bikes showed no signs of slowing and Cannondale’s models remain extremely popular.”

Hanesbrands Inc. said Champion continued to regain its momentum in the second quarter since taking a hit in the early months of the pandemic’s emergence and is now delivering double-digit gains against the second quarter of 2019. The brand is also making progress under Hanesbrands’ Full Potential plan to become a $3 billion brand.

Led by strong DTC sales, a rebound at wholesale and a more than three-fold gain in its international business, Yeti reported sales in the second quarter climbed 44.9 percent. The strong results prompted the drinkware and cooler brand to raise earnings and sales guidance for the year.

On a conference call with analysts discussing the Sweaty Betty acquisition, Wolverine Worldwide officials said the U.K-based women’s activewear brand is expected to help Wolverine’s own brands, including Saucony and Merrell, to further expand in apparel and across digital channels. However, the biggest opportunity it sees is tapping into the growth potential of Sweaty Betty and the overall women’s activewear market.

Big 5 Sporting Goods Corp. reported its fifth straight quarter of record earnings as the chain continues to benefits from changed behaviors tied to the pandemic. The West-coast chain cautioned that gains would moderate in the current quarter as it starts to anniversary year-ago surges.