Academy Sports Finds Favor From Wall Street

Academy Sports & Outdoors received positive stock ratings across the board as the first wave of Wall Street reports recently arrived following the retailer’s IPO debut on October 2. Among the catalysts cited for the stock is the expected continuing payback from strategies initiated by the retailer’s revamped management team led by CEO Ken Hicks, the benefit of broad strength in sports and outdoor categories amid the pandemic, and ample room to expand e-commerce.

Stifel Turns Bullish On Under Armour

Stifel upgraded its rating on Under Armour to “Buy” from “Hold” due to the investment firm’s increased confidence in the company’s expense-structure leverage and ability to achieve more than mid-single-digit EBIT margin on a “higher quality” revenue base.

Inside The Call: Newell’s Outdoor & Recreation Segment Boosted By Camping Momentum In Q3

Newell Brands’ Outdoor & Recreation segment returned to core sales growth in the third quarter due to strong demand for camping gear during the pandemic, Said Ravi Saligram, Newell’s president and CEO, on a conference call with analysts, “The rebound in outdoor activity we started to see at the end of Q2 has continued, especially in camping gear including tents, stoves, grills and shelters both in America and International.”

Inside The Call: Hoka Shines Again In Deckers Brands Q2

Deckers Brands said Hoka One One’s sales surged 83.2 percent in the second quarter ended September 30 and the running brand is now on track to reach its milestone of $500 million in annual sales by fiscal year-end. Coupled with a strong recovery for Ugg, Deckers’ quarterly results far exceeded Wall Street’s targets. Officials, however, warned that inventory shortages could curb growth over the holiday quarter.

Inside The Call: Puma’s Sales Rebound in Q3

Puma’s revenues recovered after posting a decline in the second quarter due to COVID-19 restrictions, climbing 13.3 percent on a currency-neutral basis. The gains were led by the Americas, up 20.7 percent on a currency-neutral basis; and EMEA, ahead 17.7 percent.

Inside The Call: Big 5 Delivers Blow-Out Q3

Big 5 Sporting Goods Corp.’s earnings more than tripled in the third quarter ended September 27 as the West Coast chain benefited from participation shifts toward fitness and outdoor activities during the pandemic. Same-store sales jumped 14.8 percent for the quarter and are up 15.1 percent so far in the fourth quarter.

Athleta Looks To Capitalize On Robust Women’s Active Apparel Trends

“Athleta is uniquely positioned to win because we sit at the intersection of a number of exciting consumer trends,” said Mary Beth Laughton, president and CEO, Athleta, during Thursday’s Investor Day presentation of its parent, The Gap Inc. The event outlined the brand’s goal to double Athleta’s sales to $2 billion by 2023 from $1 billion currently.

Rawlings To Become Even Bigger Baseball Powerhouse With Easton Acquisition

The pending acquisition of Easton Diamond Sports is expected to particularly boost Rawlings’ capabilities in the baseball and softball bat category, but Mike Thompson, Rawlings’ chief marketing officer, told SGB Executive he expects the combination will accelerate innovation across a wide range of categories for both brands and help grow the game of baseball.

PwC: Broader Sports Industry Faces Long Recovery

According to the fifth edition of PwC’s Sports Survey, growth in the broader sports industry, including sports federations, broadcasting and marketing, is expected to decline significantly over the next few years with many industry execs not expecting a full recovery until 2023 or later. PwC wrote in its study, “Like all industries predicated on events and mass gatherings, the unprecedented health crisis brought about by COVID-19 has impacted the sports market at its very core.”

Winnebago’s Q4 Boosted By Heightened Interest In The Outdoors

Winnebago Industries, seeing continuing strong demand for outdoor recreation, reported revenues jumped 39.1 percent in the fourth quarter ended August 29, to $737.8 million. Excluding Newmar, which was acquired in the first quarter of fiscal 2020, organic sales climbed 15.3 percent.