Author: Thomas J. Ryan

On Newell’s first-quarter analyst call, Ravi Saligram, Newell’s CEO, attributed the steep quarterly sales decline seen at the Outdoor & Recreation segment to “a slower-than-expected start to the season, primarily due to wet and cold weather in the western part of the country.”

On an analyst call, Julien Mininberg, CEO, said Hydro Flask’s sales declined in the fiscal fourth quarter ended February 28 in large part due to a shift in consumer preference from insulated bottles to tumblers. Osprey, acquired December 30, 2021, outperformed expectations.

Skechers USA reported domestic wholesale sales tumbled 18 percent in the first quarter due to elevated inventories across the U.S. marketplace and difficult year-ago comparisons. However, strong growth in U.S. DTC (direct-to-consumer) and across international regions helped overall results handily top guidance.

Crocs, Inc. lifted its sales and earnings guidance for the year after witnessing a better-than-expected performance by the Crocs brand in the first quarter. However, the company’s shares are trading down about 16 percent in afternoon trading Thursday as investors appear still spooked by the sales slowdown expected for the rest of the year as well as lower-than-expected sales in the first quarter at HeyDude.

Puma SE CEO Arne Freundt revealed company sales in North America declined 18.6 percent in the first quarter, and the company now expects a further decrease in 2023 as Puma reduces its exposure to off-price sellers and elevates its position as a sports brand.

Life Time Group Holdings, Inc. raised its earnings outlook for the year after reporting first-quarter earnings topped guidance. On an analyst call, Bahram Akradi, CEO, shown above, said membership attrition had come down steadily each quarter and forecasted that June would be the first month with attrition rates below 2019.

Oofos President Steve Gallo spoke recently with SGB Executive about drivers of the company’s robust growth, the active recovery opportunity, plans for the current year, and the recovery brand’s dedicated fans.

Brooks Sports Inc. filed a lawsuit against Skechers U.S.A. Inc., alleging the company is infringing on the “BEAST” trademark used on Brooks running shoes since 1992.

Fenix Outdoor International AG reported sales climbed 9 percent in the first quarter on strength in the Americas and German regions as well as with the Fjällräven and Hanwag brands. Profits were down slightly, and Fenix Outdoor warned that results in upcoming quarters could be pressured by elevated inventories and promotions in the marketplace.

SGB Executive talked to Jim Duffy, veteran sell-side industry analyst at Stifel Financial Corp., about the headwinds and tailwinds facing the active lifestyle space, his favorite stocks, the DTC trend, his affinity for covering the active lifestyle space, and the company’s sponsorship of the U.S. ski team.

Recent surveys timed to Earth Day, April 22, indicate economic pressures are working against sustainability measures despite continued commitments and show that consumers are challenged by rising inflation in support of “green” products.

SFIA’s 2023 State of the Industry Report finds the outlook for the sports and fitness industry remains strong, although current macroeconomic headwinds and uncertainty have dimmed that optimism slightly from 2020 and 2021 levels.

Lululemon Athletica, Inc. is working with an adviser to explore selling the Mirror connected fitness business, which has underperformed since LULU acquired the company in 2020, sources told Bloomberg. The report comes as LULU, on March 29, said it absorbed after-tax impairment and other charges against fourth-quarter earnings totaling $442.7 million related to Mirror.

Goldman Sachs upgraded its stock rating on VF Corp. to “Buy” from “Sell” as the investment firm believes strategic actions, including overhauling Vans’ management team, have improved VF’s outlook for profitability.

Sportsman’s Warehouse’s shares fell Thursday on weak first-quarter guidance and the abrupt retirement of CEO John Barker. Analysts slashed price and earnings targets on the hunt & fish retailer while generally remaining cautious on the stock, given the low visibility into a return to positive same-store growth.