On Columbia Sportswear’s Q2 analyst call, Tim Boyle, chairman, president and CEO, said softer sell-through trends in the U.S. due to “cautious consumer behavior” and elevated inventory levels, particularly in footwear, caused the company to slash its guidance for the year.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
EXEC: Big 5 Unable to Overcome Slow Start to Summer Selling
Big 5 Sporting Goods Corp. saw its core market in El Segundo, a city in Los Angeles County, CA, where it is headquartered, baking in extreme heat in recent weeks. Still, president and CEO Steve Miller told analysts that cool weather in the early months of the second quarter ended July 2, caused sales to fall below the retailer’s already low target.
EXEC: Avoli Founders Talk Up Women’s Volleyball Opportunity
Avoli (pronounced Ah-Volley), a volleyball-specific brand, is focused on designing volleyball equipment for female players. Founded by former Nike, Lululemon and Under Armour veterans Mark Oleson and Rick Anguilla, they launched their product line last month with a low-top volleyball shoe.
EXEC: Skechers Finds Strength Overseas Offset America Wholesale Weakness
Skechers U.S.A., Inc. raised its outlook for the year as broad strength internationally and strength in the U.S. direct-to- channel offset a 25 percent decline in wholesale sales in the U.S. due to overall elevated inventories in the marketplace. CFO John Vandemore said, “We expected the inventory congestion at our domestic wholesale partners to impact us most significantly in the second quarter.”
EXEC: Vista Outdoor Signals Back-Half Rebound
Vista Outdoor reported another tough quarter but shares were up slightly Thursday as company officials indicated Outdoor Products’ profitability is improving and the segment is still projected to resume growth by the holiday quarter.
EXEC: Puma CEO Talks Cautious Approach on U.S. Turnaround
Puma SE delivered second-quarter results that topped analyst targets and said it might be able to raise its outlook for the year should the recent momentum in China, Europe and Latin America continue in the third quarter. However, Arne Freundt, Puma’s CEO, was hesitant to forecast a return to growth in the U.S. market due to weak consumer spending.
EXEC: Life Time Shares Hit by Membership Shortfall
Shares of Life Time Group Holdings, Inc. were down about 15 percent in late-afternoon trading Tuesday after reporting adjusted EBITDA exceeded analyst targets, but revenues and membership growth came in below plan. Bahram Akradi, founder, chairman and CEO remains bullish on the high-end fitness center prospects, telling analysts that membership growth is in line with plan.
EXEC: UPS Strike Could Cost U.S. Economy Billions
A study from the Anderson Economic Group (estimated that a 10-day strike by 340,000 unionized workers at UPS could cost the U.S. economy $7.1 billion, making it the costliest work stoppage in U.S. history.
EXEC: Saucony’s New President Looks to Lean Into Innovation
Saucony, which is celebrating its 125th anniversary in 2023, in June named Rob Griffiths president. Here, Griffiths talked with SGB Executive about the brand’s authenticity and commitment to innovation, opportunities away from the run business, and his message to the run specialty community.
EXEC: Selkirk Sport Co-Founder Talks Capitalizing on Pickleball’s Fast Growth
Brothers Mike and Rob Barnes started Selkirk Sport in Hayden, ID, in 2014, believing that pickleball, once an obscure sport played by seniors and in physical education classes, was about to take off. Rob Barnes, co-founder and co-CEO, talked with SGB Executive about Selkirk’s and the sport of pickleball’s potential growth and its challenges.
EXEC: Lululemon Lays Off 100 Employees at Mirror Business
Lululemon confirmed with SGB Media reports that it has laid off 100 employees from Lululemon Studio, which represents its Mirror connected fitness business. In mid-April, reports arrived that Lululemon was working with an advisor to explore the sale of Mirror.
EXEC: China’s Slowed Recovery Bad Omen for Sports Industry’s Global Players
Hopes by several global players in the active lifestyle space that a strengthening recovery in China would offset weakness in North America this year were dimmed Monday after China’s second-quarter GDP growth arrived below expectations.
Study: Gen-Z an Untapped Opportunity for Fitness
A study from Les Mills, “Gen Z Fitness: Cracking the Code,” found that 36 percent of the Gen Z generation exercise regularly and 50 percent, identified as the “untapped market.” want to work out regularly but said they need help getting started.
Rally House To Open K-State Official Team Stores
Rally House agreed to become the official team store for Kansas State. The retailer has several stores in the state of Kansas.
EXEC: RG Barry CEO Talks Data, Digital and Consumer Focus
RG Barry, the parent of Dearfoams slippers and Baggallini handbags and backpacks, has seen sales double over the past five years with a 15 percent compound annual growth rate. Bob Mullaney, CEO, talked with SGB Executive about the company’s recent progress, growth potential and key brand initiatives.
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