Author: Thomas J. Ryan

Dick’s SG Sees Opportunities To Build On Momentum Amid Pandemic

Dick’s SG Sees Opportunities To Build On Momentum Amid Pandemic

At Goldman Sachs’ Annual Retailing Conference Wednesday morning, Ed Stack, chairman and CEO, said “some pull forward” helped drive the retailer’s whopping 20.7 percent comp gain in the second quarter. However, strong demand for many categories that have benefited from lifestyle changes amid the COVID-19 pandemic are expected to continue into 2021. Stack said, "We're fortunate we're in a great lane for what's going on right now." (Read More)

Journeys Sidetracked By Back-To-School Disruption

Journeys Sidetracked By Back-To-School Disruption

Genesco Inc. said its core Journeys chain saw a strong sales recovery as stores began re-opening at the start of the second quarter with the comfort trend favoring its fashion athletic mix, but delays in back-to-school selling impacted revenues in the latter part of the quarter and have created significant uncertainty about prospects for the current quarter. (Read More)

Titleist Parent Sees Robust Recovery In Q2 As Golf Courses Re-Open

Titleist Parent Sees Robust Recovery In Q2 As Golf Courses Re-Open

Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said that after a brutal first two months of the second quarter due to store and golf-course lockdowns, sales bounced back strongly in June, accelerated in July, and are expected to continue strong through the third quarter. Said David Maher, Acushnet’s president and CEO, on a conference call with analysts, "The game and business of golf have been incredibly resilient.” (Read More)

Wolverine Worldwide Gets Q2 Lift From E-Commerce, Active Trends

Wolverine Worldwide Gets Q2 Lift From E-Commerce, Active Trends

Wolverine Worldwide’s sales in the second quarter fell 39 percent but came in significantly better than internal expectations due to a 96 percent hike in online sales and strong trends towards the end of the quarter around outdoor, run and work. Said Blake Krueger, chairman, CEO and president, “The company's performance significantly exceeded our expectations entering the quarter on virtually every financial metric." (Read More)

Johnson Outdoors Sees Orders Spike As People Head Outdoors

Johnson Outdoors Sees Orders Spike As People Head Outdoors

Johnson Outdoors Inc. reported steep declines in profits and revenues in its fiscal third quarter ended June 26 but indicated orders have increased significantly in May and June in its Fishing, Watercraft Recreation and Camping segments as quarantined-consumers head outdoors for recreation. Helen Johnson-Leipold, chairman and CEO, said on a conference call with analysts, “At this time, we are working overtime to keep pace with continuing demand in all three of these businesses.” (Read More)

Rocky Brands’ Q2 Benefits From Online Boost

Rocky Brands’ Q2 Benefits From Online Boost

Rocky Brands Inc.’s sales were slightly down and adjusted earnings flat year-over-year in the second quarter despite COVID-19's impact, handily topping Wall Street’s targets. On a conference call with analysts, Jason Brooks, president and CEO, said, “Despite being up against the most difficult operating conditions we have ever experienced, our business exhibited increasing strength as the quarter progressed.” (Read More)

Remington Unable To Avoid Bankruptcy Court

Remington Unable To Avoid Bankruptcy Court

In court papers, Ken D’Arcy, Remington Outdoors’ CEO, said the firearm’s giant’s second bankruptcy in two years was partly due to elevated inventory levels and a wide range of brands that extended the company beyond its “core focus” coming out of its first bankruptcy. He added, “Most importantly, the unfavorable business trends continued after exit from the prior cases.” (Read More)

Great American Outdoors Act Marks Sweeping Victory For Conservation

Great American Outdoors Act Marks Sweeping Victory For Conservation

The passage of the Great American Outdoors Act was praised by a wide array of outdoor advocates across the hunt, camp, hike, and fish spaces. The bill, expected to be quickly signed into law by President Donald Trump, promises to address scores of long-neglected maintenance projects at Yellowstone, the Grand Canyon and hundreds of other national parks across the country. (Read More)

Hibbett Sports Sees Comps Vault In Q2, Still Uncertain Road Ahead

Hibbett Sports Sees Comps Vault In Q2, Still Uncertain Road Ahead

Hibbett Sports Inc. said it expects same-store sales to catapult in excess of 70 percent in the second quarter ended August 1 but cautioned that some of the boosts to the second quarter won’t be recurring in the second half. On a conference call with analysts, Hibbett officials also noted that prospects for the back-to-school selling season remain up in the air as school openings are uncertain. (Read More)

Oppenheimer Turns Bullish On Dick’s SG

Oppenheimer Turns Bullish On Dick’s SG

Oppenheimer upgraded its rating for Dick's SG to “Outperform” from “Perform” due to expected strength in the sporting goods category amid the pandemic. Brian Nagel, Oppenheimer’s lead analyst in the space wrote in a note, “The company’s robust omnichannel business model is positioned well to capitalize upon improving consumer demand for items associated with consumers now spending more time at home and poised to further benefit as shoppers shift back to team sports and licensed products.” (Read More)

Pin It on Pinterest

Share This