Author: Thomas J. Ryan

On Holdings raised its revenue outlook for 2023 after delivering a better-than-expected first quarter. The Americas led the regional growth, surging 91.9 percent to CHF 270.2 million ($301 mm), boosted by a strong reception for the brand at Dick’s Sporting Goods, On officials said on an analyst call.

Wilson Sporting Goods in early May opened its first-ever West Coast retail location in Santa Monica, CA, bringing its total store count to six. Gordon Devin, president and general manager, Wilson Sportswear, talked with SGB Executive about Wilson’s aggressive retail push, its expanding apparel business and current business conditions.

Mizuno Corp. reported record earnings for the year as revenues jumped 23 percent. The revenue gains were mainly driven by golf in overseas markets and baseball, football and work business in its domestic Japanese market. For the fourth quarter, earnings rose 31 percent on a 35 percent revenue gain.

In March, Topo Designs received a significant equity investment from Gart Capital Partners to mark the first time that the Denver-based outdoor brand had taken on outside funding since being founded in 2008. SGB Executive talked with Jedd Rose, Topo Designs’ president, about the brand’s The New Outdoor platform and how the fresh funding will help capitalize on Topo Designs’ recent momentum.

Yeti Holdings, Inc. managed to deliver 3.1 percent growth in first quarter that beat expectations despite the period being negatively impacted by a massive voluntary recall and the expected slow pace of orders in the North American wholesale channels.

Wolverine World Wide, Inc. reported first-quarter earnings that slightly exceeded expectations on strength at Merrell and Saucony while announcing that it was exploring the sale of its struggling Sperry business and revealing that Anne Cavassa, president of Saucony, had left the company.

In her first address to the investment community, Stephanie Linnartz, Under Armour’s new CEO, declared, “Growth is without a question our highest priority.” She cited footwear, women, sport style and full-price stores as untapped opportunities but particularly stressed an urgency for Under Armour to establish a more-premium positioning and amplify brand heat.

Solo Brands, Inc.’s sales expanded 7.3 percent in the first quarter, topping expectations, as fill-ins address early sell-through. The replenishment orders helped the company boost Q1 wholesale revenues to offset declines in its e-commerce business.

Johnson Outdoor’s sales increased by 7 percent in the fiscal second quarter ended March 31. On an analyst call, Helen Johnson-Leipold, chairman and CEO, said improved product availability in Fishing and continued momentum in Diving offset a “post-pandemic slowdown” affecting its Camping and Watercraft sales.

Last December, Topo Athletic, largely known for its running footwear, was acquired by Designer Brands, Inc., the parent of the DSW family footwear chain. Here, Tony Post, who founded the brand in 2012 and remains CEO, discusses the reasons behind the sale, how the merger impacts Topo’s core specialty business and what categories have been driving growth.

Shares of Vista Outdoor jumped 16.4 percent on Thursday after Gary McArthur, interim CEO, on the company’s fourth-quarter conference call provided an upbeat outlook for the business, including predicting a return to growth for the Outdoor Products segment in the back of the current fiscal year and a more normalized purchasing cycle going forward for the Sporting Products segment.

Acushnet Holdings Corp. reported first-quarter earnings that handily topped Wall Street’s guidance, led by robust double-digit gains for Titleist golf balls and clubs tied to successful launches. David Maher, Acushnet’s president and CEO, told analysts, “The Acushnet team is excelling on the product development, manufacturing and supply chain management fronts.”

 Compass Diversified (CODI) saw sales decline 33 percent at BOA, 34 percent at Velocity Outdoor and 5 percent at Primaloft with all impacted to varying degrees by elevated inventories in the marketplace. Marucci Sports and 5.11 both delivered healthy double-digit sales growth. 

On its first-quarter analyst call, Steve Bratspies, CEO of Hanesbrands Inc., attributed the Champion’s 22 percent tumble in the U.S. in the period on promotional pressures in an over-inventoried marketplace. He said, “When you get an inventory backup of the scale that we have, people try to move it and try to move it aggressively.”