Adidas Records Double-Digit Top- And Bottom-Line Growth In Q1

Adidas reported earnings climbed 17 percent in the first quarter as sales grew on a currency-neutral basis and gross margin expanded 150 basis points. Growth was particularly strong in North America, up 21 percent on a currency-neutral basis, and Asia-Pacific, ahead 15 percent.

Acushnet’s Q1 Earnings Advance

Acushnet Holdings Corp., the parent of Titleist, reported first-quarter net income of $41.5 million, up 8.9 percent year over year. Sales reached $441.8 million, up 1.9 percent year over year, down 2.2 percent in constant currency. 

Fitbit Posts Q1 Loss On Revenue Decline

Fitbit Inc. reported a loss of $80.9 million, or 34 cents per share, in the first quarter ended March 31, compared to a loss of $60.1 million, or 27 cents per share, in the same quarter a year ago. The company reported sales of $247.9 million, a 17 percent decline from last year. Fitbit’s income and revenue topped analyst expectations, but the company’s forecast for the current quarter is lower than expected as it works to sell off old products and shift focus to the new Versa.

Academy Sports To Open Two New Locations In NC

Academy Ltd., dba Academy Sports + Outdoors, will open the company’s first stores in Matthews, NC and Winston-Salem, NC, this summer. The company recently opened the first store in New Bern, NC, last month.

Big 5 Wacked By Weather Woes In Q1

Big 5 Sporting Goods reported that a lack of cold weather crushed its winter business early in the first quarter while the arrival of chilly weather restrained its spring business later in the quarter.

Garmin Sees Double-Digit Earnings Growth In Q3

Garmin Ltd. reported operating earnings rose 21.5 percent in the first quarter. Sales climbed 10.8 percent, led by gains of 24 percent in the company’s Outdoor segment, 20 percent in Fitness and 19 percent in Aviation.