The TJX Companies Inc.’s second-quarter earnings were in line with Street expectations as same-store sales limped ahead 2 percent. But the off-pricer said its core apparel category remains strong and a "loaded" marketplace of opportunistic buys, driven in part by the tariff situation, is expected to support second-half growth. (Read More)
Twenty-nineteen marks the 50th anniversary of Seattle-based Mountain Safety Research (MSR), which got its start not with a break-through product but a newsletter that raised awareness about climbing equipment safety. Doug Sanders talks to SGB Executive about the unorthodox start as well as MSR's ongoing commitment to defying the status quo in equipment design. (Read More)
SportChek saw same-store sales climb 3.7 percent in the second quarter, marking its fourth consecutive quarter of growth and boosted by the Toronto Raptors being crowned NBA champions. Company-owned brands vaulted 47 percent at SportChek, led by Helly Hansen's expansion. (Read More)
Adidas AG’s second-quarter operating profit missed estimates, squeezed by the cost of flying apparel from Asia to North America to address supply shortages. But the company reaffirmed its outlook for the year, predicting top-line growth will accelerate in the second half. (Read More)
Iconix Brand Group reported a steep decline in revenues as it continues to position its brands, but adjusted operating earnings showed improvement and several new licensing agreements were signed during the quarter. Bob Galvin,... (Read More)
Mad Dogg Athletics, one of the pioneers of the indoor cycling craze, has filed for bankruptcy protection. The move follows three years of revenue declines that culminated in a loss in 2018 caused by a dispute over the termination of its Bodyblade license agreement. Other causes of the filing included heightened competition from Peloton, a botched website upgrade, and challenges transitioning its Spinner bikes' license to Precor. (Read More)
Wolverine World Wide reported second-quarter earnings that exceeded expectations but sales came in short and full-year guidance for revenues, gross margins and operating margins were reduced. On the bright side, Wolverine still expects revenues to accelerate in the second half as the company’s three largest brands, Merrell, Sperry and Saucony, combined expand 10 percent. (Read More)
G-Form LLC, a leading sports protective gear brand, announced that Glen “Gava” Giovanucci will become chief executive officer of the company at the end of August. Giovanucci will be taking on this leadership role following a... (Read More)
Barneys New York Inc. filed for bankruptcy protection with a plans to close 15 of its 22 stores. The luxury chain plans to seek a buyer for the slimmed-down business and negotiate rent reductions with landlords. Moncler and Canada Goose were among vendors landing on the top-30 unsecured creditors list that read like a who's who of fashion. (Read More)
Johnson Outdoors Inc. reported Q3 sales improved 3 percent due to strength in its Fishing segment. Earnings declined modestly due to investments in online capabilities and the impact of tariffs. (Read More)
While reporting Q2 earnings that missed estimates, Dorel industries' officials described the U.S. tariffs on Chinese-made goods as the “most significant risk” to second-half results while indicating they’re causing “chaos” in the marketplace. (Read More)
The North Face announced the 2019 Explore Fund Grant recipients, welcoming a new class of 42 organizations enabling exploration for all. (Read More)
Asics North America sales inched up 0.8 percent but it was enough to mark its second straight quarter of growth. The gains were led by "strong sales of the Core Performance Sports category and steady sales of the Performance Running category." Online sales jumped 39.9 percent. (Read More)
Sturm, Ruger & Company Inc.’s sales in the second quarter plunged 25 percent and earnings fell even further. The results were hurt by the bankruptcy of the Ellett Brothers on top of continued stagnant demand for firearms. (Read More)
Champion’s revenues, excluding the C9 brand being phased out at Target, jumped more than 50 percent in the second quarter despite facing tougher comparisons. HanesBrands, Champion’s parent, said the marked the eighth consecutive quarter that Champion’s growth globally has been at or above 30 percent. (Read More)
Crocs Inc. sharply raised its revenue targets for the full year after reporting second-quarter earnings that handily topped Wall Street’s target. (Read More)
Shares of Fitbit fell 21 percent on Thursday after the company slashed guidance for the full year and indicating it was changing its approach to pricing and promotions as sales of the Versa Lite smartwatch fell short of targets. Fitness tracker sales rebounded in the second quarter, but the company's streak of quarterly revenue growth will end in the third quarter. (Read More)
Boosted by booming sales in China, accelerated growth in the U.S. and Europe, and broad-based growth across categories, Puma reported second-quarter results that topped analysts' targets and lifted its guidance for the year. (Read More)
Shares of Big 5 Sporting Goods Corp. jumped 48 cents, or 29.1 percent, to $2.13 Wednesday after the West-Coast sporting goods chain’s comps rose for the third-straight quarter, quarterly earnings topped guidance, and its balance sheet improved. Robust earnings gains were also forecast for the third quarter. (Read More)
Under Armour’s second-quarter results were basically in line with expectations and officials indicated that the company’s strategic transformation program is progressing on plan. Shares of Under Armour, however, fell 12.2 percent on Tuesday as sales targets for North America for the year were reduced and Q3 results were guided below Wall Street expectations. (Read More)