Under Armour logged a steep second-quarter loss as the company ramped up the company’s restructuring efforts to further clean up the company’s inventories in the marketplace and reduce the company’s cost structure. The moves are designed to build a sounder foundation to support the company’s promised turnaround starting in 2019.
Author: sportsoneauthor
Columbia Sportswear Raises Guidance After Strong Q2
Columbia Sportswear Co. reported earnings for the second quarter ended June 30 of $9.7 million, or 14 cents per share, compared with a net loss of $11.5 million, or (17) cents per share, the same quarter a year ago.
Deckers Brands Easily Tops Guidance In Q1
Deckers Brands reported that revenues and its loss in the fiscal first quarter ended June 30 easily beat projected guidance. Sales grew 19.5 percent, led by a 17.6 percent gain for Ugg and a 53.1 percent hike at Hoka One One.
Americas Region, Chunkier Styles Drive Puma’s Q2 Growth
Puma SE said it scrambled to catch up to a fashion shift toward bulkier footwear to enable it to continue its robust top-line momentum. But due to higher marketing expenses to maintain that growth, Puma wasn’t able to lift its profit outlook for the year.
Brunswick Corp.’s Adjusted Sales Climb 6 Percent
Brunswick Corp., the parent of Life Fitness, Hammer Strength and Cybex, reported that on an adjusted basis, operating earnings were down 3 percent in the second quarter despite a 6.3 percent revenue gain. Fitness segment sales inched up 1 percent.
HanesBrands Appoints Board Member
HanesBrands announced the appointment of consumer products industry veteran Geralyn R. Breig to the company’s board of directors.
Iconix Brand Group Announces Cooperation Agreement With Sports Direct
Iconix Brand Group Inc. announced that the company has entered into a cooperation agreement with Sports Direct International plc, pursuant to which Sports Direct has the right to appoint two members of the company’s board of directors.
Under Armour See North American Rebound
Under Armour Inc. reported a steep loss in the second quarter after restructuring activities and said the company had planned to spend an additional $80 million on restructuring efforts this year. The loss before charges was in line with Wall Street’s expectations. Sales were ahead of expectations as North American sales grew for the first time in a year.
Amer Sports Sees Modest Growth In Q2
Amer Sports reported a slightly higher loss on a modest sales gain in the second quarter, the company’s smallest quarter of the year. Amer still expects a “solid” second half, driven by up to double-digit pre-order growth in Winter Sports Equipment, Arc`teryx, Sports Instruments and strong expected order position in Precor, which just won the company’s largest ever customer contract.
Puma’s Currency-Neutral Sales Climb 15 Percent In Q2
Puma reported earnings rose 37.8 percent in the second quarter on improving margins and continued sales momentum. Sales rose 15 percent on a currency-neutral basis, led by an 18.7 percent gain in the Americas. The outlook for the year remained unchanged.
Adidas Opening Creative Community Space In Brooklyn
Coinciding with the latest iteration of its P.O.D. System sneaker, Adidas Originals announced the opening Factory 55 in the heart of Brooklyn’s Williamsburg neighborhood. Local artists, musicians and designers will lead workshops and open lab sessions on both zine and poster making, a neighborhood photography session, a ‘how-to’ tutorial on silk-screening t-shirts and more.
U.S. House of Representatives Passes The PHIT Act
The U.S. House of Representatives approved the Personal Health Investment Today (PHIT) Act, which would allow the use of pre-tax savings accounts for physical activity-related expenses. PHIT was included in a bipartisan package of Health Savings Account (HSA) reforms that passed in the House today by a vote of 277-142. Now, the measure moves to the Senate for further consideration.
U.S. Road Race Participation Numbers Hold Steady For 2017
For the vast majority of road races of all sizes across the U.S., participation held steady in 2017, according to an analysis of road race participation trends released by Running USA.
New Era Partners With G-Shock
Casio G-Shock once again teamed up with New Era Cap Co. Inc. on a limited-edition DW5600 men’s timepiece.
REI Partners Again With Subaru
Subaru of America Inc. announced the company’s continued partnership with REI and involvement in the outdoor retailer’s adventure-themed, experiential events and activities across the country.
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