Author: Thomas J. Ryan

EXEC: Allbirds’ Shares Tumble Amid Outlook Reduction, Cost-Cutting Moves

EXEC: Allbirds’ Shares Tumble Amid Outlook Reduction, Cost-Cutting Moves

Shares of Allbirds fell about 20 percent on Tuesday after the eco-friendly footwear company slashed its full-year guidance and announced a cost-cutting plan, including layoffs, to compensate for lower-than-planned sales. Joey Zwillinger, co-founder and co-CEO, told analysts, "“Since our May earnings call, persistently high inflation has started to take its toll on consumers.” (Read More)

EXEC: Beachbody Sees “Uncertain Demand Patterns” For At-Home Fitness

EXEC: Beachbody Sees “Uncertain Demand Patterns” For At-Home Fitness

The Beachbody Company, Inc. reported a 20 percent decline in sales in the second quarter ended June 30, in line with expectations. Carl Daikeler, co-founder, chairman, and CEO, told analysts the focus would continue to be on expense control as demand for at-home fitness "could remain variable in the near-term" with increased uncertainty around the broader economic climate. (Read More)

EXEC: Fox Factory’s Cycling Segment Continues Record Growth Streak

EXEC: Fox Factory’s Cycling Segment Continues Record Growth Streak

Fox Factory Holding Corp. reported sales in its Specialty Sports Group (SSG), its cycling component segment, delivered its ninth consecutive record revenue quarter in the three months ended July 1. Sales reached $178 million, up 28.1 percent on a year-over-year basis. Fox Factory’s CEO Mike Dennison, told analysts, “We are, however, seeing the signs of return to normal, and consequently, we expect SSG to return to more typical growth rates beginning in Q3 and return of seasonality in Q4.” (Read More)

EXEC: Johnson Outdoors’ Q3 Hampered By Rising Input Costs And Supply Chain Disruption

EXEC: Johnson Outdoors’ Q3 Hampered By Rising Input Costs And Supply Chain Disruption

Johnson Outdoors reported a sharp decline in earnings in its fiscal third quarter ended July 1 due to supply chain challenges, especially within its fishing segment, as well as rising raw materials costs also tied to supply chain dynamics. Helen Johnson-Leipold, chairman and CEO, told analysts, “We’ve implemented price increases across our product lines and we're focused on fulfilling demand and reducing our expenses where possible.” (Read More)

EXEC: Delta Apparel Expects To Exceed Revenue Goals For Fiscal Year

EXEC: Delta Apparel Expects To Exceed Revenue Goals For Fiscal Year

Delta Apparel reported sales grew 6.9 percent in the third quarter ended July 2, driven by growth at the Salt Life lifestyle brand, the DTG2Go on-demand digital print business and Global Brands activewear unit. With continued growth expected in the fourth quarter, Delta expects to exceed its goal of 10 percent revenue growth for the fiscal year. (Read More)

EXEC: Adidas Confident About Accelerated Growth In Second-Half

EXEC: Adidas Confident About Accelerated Growth In Second-Half

Adidas AG reported currency-neutral sales grew 4 percent in the second quarter, constrained by the impact of last year's lockdowns in Vietnam, the suspension of operations in Russia and continued COVID-19-related lockdowns in Greater China. Despite expectations for continued macroeconomic pressures, CEO Kasper Rorsted vowed to analysts that Adidas would accelerate growth in the second half. (Read More)

EXEC: Yeti’s Shares Tumble On Outlook Cut

EXEC: Yeti’s Shares Tumble On Outlook Cut

Shares of Yeti Holdings, Inc. fell 19 percent on Thursday after the maker of coolers and mugs reported a shortfall in its second-quarter results and slashed guidance for the year due to worsening consumer trends. Matt Reintjes, president and CEO, told analysts, "We have prudently adjusted our full-year outlook to both reflect some of these ongoing uncertainties and our commitment to making the right near, mid- and long-term decisions for the Yeti growth story." (Read More)

EXEC: Under Armour Looking For New CEO To Accelerate Growth

EXEC: Under Armour Looking For New CEO To Accelerate Growth

In his first quarterly analyst call since stepping down as CEO in 2019 to become executive chairman and brand chief, Kevin Plank said that while Under Armour has strengthened its "strategic operational and financial foundations" over the last several years, the search is ongoing for a permanent CEO who can "drive more robust top-line growth and increase profitability over the long term." (Read More)

EXEC: Rocky Brands’ Q2 Earnings Miss Expectations On Supply Chain Costs

EXEC: Rocky Brands’ Q2 Earnings Miss Expectations On Supply Chain Costs

Rocky Brands reported sales jumped 23.1 percent in the second quarter on strong demand across work, western and outdoor. However, on a conference call with analysts, Jason Brooks, chairman, president and CEO, said “certain internal and external challenges” prevented Rocky from capitalizing from a profitability standpoint on the robust demand and the progress made over the past 15 months in integrating its acquisition of Honeywell's footwear business, which includes the Muck and Xtratuf. (Read More)

EXEC: Big 5’s Top Line Feeling Impact Of Macroeconomic Headwinds

EXEC: Big 5’s Top Line Feeling Impact Of Macroeconomic Headwinds

Big 5 Sporting Goods Corp. reported sales in the second quarter ended July 3 exceeded any pre-pandemic second quarter, but missed plan due to macroeconomic headwinds that accelerated over the course of the quarter. CEO Steve Miller said on a call with analysts, "These macro trends are undoubtedly pulling dollars away from consumers' discretionary spending.” (Read More)

Vista Outdoor’s CEO Discusses Recent Acquisitions And Macroeconomic Pressures

Vista Outdoor’s CEO Discusses Recent Acquisitions And Macroeconomic Pressures

Vista Outdoor recently announced plans to acquire Simms Fishing Products for $192.5 million and Fox Racing for $540 million in moves that will extend its portfolio to 41 brands. SGB Executive talked with Chris Metz, Vista's CEO, about the reason behind the acquisitions and the company's better-than-expected fiscal first-quarter results. (Read More)

EXEC: Newell Brands Sees Outdoor Segment Growth Slowing In Second Half

EXEC: Newell Brands Sees Outdoor Segment Growth Slowing In Second Half

Newell Brands reported its Outdoor & Recreation segment, which includes Coleman, Marmot and several other brands, saw core sales growth of 2.5 percent in the second quarter on top of 25 percent in the year-ago period. Ravi Saligram, Newell's CEO, told analysts that sales in the Outdoor & Recreation segment are expected to decelerate in the back half due to inflationary pressures. (Read More)

Q&A With Matt Godfrey, Executive Director, Outdoor Gear Builders

Q&A With Matt Godfrey, Executive Director, Outdoor Gear Builders

Founded in 2013, Outdoor Gear Builders (OGB) cultivates, connects and supports the outdoor community in Western North Carolina, becoming one of the first organized alliances of outdoor gear brands in the United States. SGB Executive talked with Matt Godfrey, the nonprofit's new executive Director, about forming the organization, its mission and plans for future growth. (Read More)

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