Vista Outdoor Inc. slightly raised its earnings guidance on an adjusted basis for the year as expectations for sales and earnings exceeded plans in the second quarter ended September 30. Shooting Sports segment generated sequential sales growth, while Outdoor Products segment sales remained flat adjusted for the sale of its eyewear brands.
Author: SGB Media
HanesBrands Takes Charge For Sears Bankruptcy
HanesBrands, the parent of Champion, took a bad-debt reserve charge of $14 million related to the bankruptcy filing of Sears Holdings Corporation. As a result, GAAP operating profit of $257 million declined 1 percent and GAAP diluted earnings per share were 47 cents per share. HanesBrands lowered its EPS guidance for the year.
Acushnet’s Operating Earnings Expand 18.9 Percent
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported adjusted EBITDA climbed 18.9 percent in the third quarter as sales gained 6.7 percent. Consolidated net sales in the United States increased by 10.7 percent.
Escalade Q3 Profits Climb 16 Percent
Escalade Inc. reported earnings rose 16.1 percent on higher gross margins and robust e-commerce growth.
Inaugural Racquet & Paddle Sports Conference To Be Held In Orlando
The inaugural Racquet & Paddle Sports Conference, run by the TIA (Tennis Industry Association), will be held from January 23 to 25 in Orlando, FL.
Oboz Footwear Bolsters Design Team With Two Hires
Oboz Footwear announced that Brian Krezel and Bob Downs have joined its design team.
Sturm, Ruger & Co. Misses Revenue, Earnings Targets
Sturm, Ruger & Co. Inc. on Wednesday reported net sales for the third quarter ended September 29 of $114.9 million and diluted earnings of 52 cents per share, falling short of Wall Street expectations by $14.9 million and 40 cents, respectively.
Fox Factory Q3 Revenues Soar 38 Percent
Fox Factory Holding Corp. reported earnings rose 50.9 percent in the third quarter as sales vaulted 38.0 percent.
Compass Diversified Holdings Posts Revenue Bump, Income Slide
Compass Diversified Holdings reported revenue for the third quarter ended September 30 of $448.7 million, up 38.5 percent from $324 million a year ago and beating Wall Street estimates by $39.2 million. The company’s net income was $5.8 million, as compared to net income of $8.4 million for the quarter ended September 30, 2017.
Fitbit Beats On Q3 Earnings & Revenue
Global wearables brand Fitbit Inc. on Wednesday reported revenue for the third quarter ended September 29 of $394 million topping Wall Street estimates by $12.3 million. The company also reported GAAP net loss per share of 1 cent, beating estimates by 5 cents.
Winchester’s Profits Hurt By Higher Commodity Costs
Winchester’s EBDITA fell 30.9 percent in the third quarter ended September 30 as sales dropped 5.3 percent, according to the ammunition maker’s parent, Olin Corp. On a conference call with analysts, John Fischer, Olin’s CEO, said the company now expects overall 2018 commercial demand in the Winchester segment to decline by approximately 20 percent in 2018, which follows a 17 percent decline in commercial demand in 2017.
Sherpa Adventure Gear Partners With Apex Outdoor Sales
A team of five that services multiple retail channels in the outdoor industry, Apex Outdoor Sales, is primed to fuel growth for Sherpa Adventure Gear in the South Central United States.
Good To-Go Continues To Expand Production Facility, Staff
Elevating expectations of what prepared meals can taste like continues to be a big job for Maine’s Good To-Go. This fall, the brand completed a 900 square foot addition to the new building the company built two years ago, while adding another two members to the office and three to production.
Dometic Continues Its Support Of Tread Lightly With New Contest
Dometic is excited to announce the winner of the trail clean-up contest the company has been running on social media in partnership with Tread Lightly.
Intersport Appoints New CEO
IIC-Intersport International Corporation GmbH (IIC) said Steve Evers, the current vice chairman of the IIC Board, was nominated as the new CEO. He will start in his new position early 2019. Victor V. Duran stepped down from his position as IIC CEO by mutual agreement with immediate effect.
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