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.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699

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.

EXEC: New Study Sees Walmart, Dollar Stores, Off-Pricers as BTS Winners
Coresight Research’s U.S. Back-To-School (BTS) 2023 study found the big BTS winner is expected to be Walmart with Amazon and Target losing ground. Dollar stores and off-pricers were also seen gaining BTS share with those channels, as well as Walmart, benefiting from the post-pandemic recovery in-store shopping.

EXEC: Inside the Jogology Launch with Co-Founder Tanya Pictor
Tanya and Bert Pictor, the founders of Balega Socks, are partnering with Luke Rowe, the running industry veteran, to launch a new running sock brand, Jogology, that will be sold exclusively at run specialty stores. Tanya Pictor talked to SGB Executive about inspiration behind Jogology and how the brand plans to differentiate itself in the crowded sock market.

EXEC: Osprey Outperforms in Parent’s Q1 Results; Hydro Flask Hurt by Preference Shift
On today’s analyst call, Julien Mininberg, Helen Of Troy’s CEO, said Osprey, acquired in December 2021, surpassed expectations for the second straight quarter, but Hydro Flask continued to be pressured by a shift in consumer preference from insulated bottles to tumblers.

EXEC: Deloitte Study Find Sports Fandom Getting More Immersive
Deloitte’s inaugural study, 2023 Sports Fan Insights: The Beginning Of The Immersive Sports Era, found that despite concerns over past pandemic-driven closures of live sporting events, today’s sports fans remain strong, with younger fans craving spectator sports experiences.