Author: Thomas J. Ryan

EXEC: Dennis Driscoll Looks Back on Nearly 45 Years in the Footwear Business

EXEC: Dennis Driscoll Looks Back on Nearly 45 Years in the Footwear Business

Long-time global footwear industry veteran and chief product officer for Xero Shoes, Dennis Driscoll, is retiring on September 1 after more than 44 years in the business. Driscoll talked with SGB Executive about the insights he gained over his career, including having worked for Avia and Converse and what he will miss. (Read More)

Study: Strong Pickleball Growth Nets Access Challenges

Study: Strong Pickleball Growth Nets Access Challenges

“If you build it, they will come” certainly applies to the sport of pickleball, according to a new study from the Sports & Fitness Industry Association (SFIA) and Pickleheads, a website that helps players find and schedule pickleball games. The study concluded that pickleball’s unprecedented growth would require a $900 million investment to build the 25,000 courts in the U.S. necessary to support continued participation gains. (Read More)

EXEC: Sport Chek, Helly Hansen Parent Pulls Growth Targets Amid Consumer Spending Retreat

EXEC: Sport Chek, Helly Hansen Parent Pulls Growth Targets Amid Consumer Spending Retreat

Canadian Tire Corp, the parent of the Canadian Tire chain and Sport Chek, reported a drop in quarterly revenue, as demand for sporting goods and home improvement items slowed at its stores. The retailer also said it was withdrawing its previously disclosed financial targets for 2022-2025 as it battles high inventory costs and strained consumer spending. (Read More)

EXEC: Yeti CEO Talks Return to Double-Digit Growth in Fourth Quarter

EXEC: Yeti CEO Talks Return to Double-Digit Growth in Fourth Quarter

Shares of Yeti Holdings rose about 17.3 percent Thursday after the drinkware and cooler maker raised its guidance for the year after second-quarter results handily topped Wall Street targets. Speaking to analysts, Matt Reintjes, president and CEO of Yeti Holdings, predicted a return to double-digit growth in the fourth quarter as the firm recovers from a massive recall and taps success with newer product families and line extensions. (Read More)

EXEC: Nautilus Sees Direct Business Improving on Momentum in Strength Products

EXEC: Nautilus Sees Direct Business Improving on Momentum in Strength Products

Nautilus Inc., the parent of Bowflex and Schwinn fitness equipment, significantly reduced its loss in its fiscal first quarter ended June 30 due to improved margins and lower costs. Sales were again down sharply with retail segment sales impacted by high marketplace inventories, but the direct segment showed improving trends, including flat sales across strength products. (Read More)

EXEC: Allbirds Shares Pop As Transformation Efforts Gain Traction

EXEC: Allbirds Shares Pop As Transformation Efforts Gain Traction

Allbirds reported a loss in the second quarter, but the period marked the troubled eco-friendly sneaker seller's second quarter in a row of top- and bottom-line results above expectations. Company officials told analysts that its transformation efforts included a refocus on core styles, including the Wool Runner and Tree Dasher, which had made progress. (Read More)

EXEC: Under Armour Reduces North America Guidance on Wholesale Softness

EXEC: Under Armour Reduces North America Guidance on Wholesale Softness

Under Armour reported results for the fiscal first quarter ended June 30 came in line with expectations amid progress reducing inventory levels while reiterating its overall guidance for the year. However, sales guidance was reduced for North America as the brand was unable to overcome due to stubborn challenges at U.S. wholesale. (Read More)

EXEC: Black Diamond Sales Thwarted By Weak Open-To-Buy Orders

EXEC: Black Diamond Sales Thwarted By Weak Open-To-Buy Orders

Black Diamond's sales fell 23.7 percent in the second quarter due to a combination of lower consumer demand and continued lower open-to-buys as its primary North American wholesale partners work down inventory levels, according to its parent Clarus Corp. Company officials see improvement but do not expect marketplace inventories to rebalance until year-end. (Read More)

EXEC: Analysts Gaining Confidence in Adidas’ Turnaround

EXEC: Analysts Gaining Confidence in Adidas’ Turnaround

While some still see an uphill battle for Adidas to regain share in the competitive landscape, the majority of analysts covering the stock were encouraged by the progress the company made in the second quarter toward a turnaround, including building momentum in its underlying business on the back of the "terrace" trend. (Read More)

EXEC: Titleist Parent Sees Continued Benefit from Golf’s Pandemic Boost

EXEC: Titleist Parent Sees Continued Benefit from Golf’s Pandemic Boost

Acushnet Holdings Corp.'s second-quarter results topped analyst estimates as the momentum in Titleist golf balls and golf clubs offset weakness at FootJoy. David Maher, president and CEO, told analysts, "Supporting the company's first half results, we are enthused by the golf industry's overall health and stability with participation remaining vibrant even as golfers return to many pre-COVID activities." (Read More)

EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown

EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown

Johnson Outdoors' overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, "We're seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years." (Read More)

EXEC: Adidas Sees North America Struggles Continue

EXEC: Adidas Sees North America Struggles Continue

Adidas’ second quarter results included several encouraging signs, including securing an incremental profit of €150 million ($164 mm) from the first drop of leftover Yeezy, significantly improved margins due to better sell-throughs and less discounting, and a return to double-digit growth in China. However, the laggard continues to be North America, where sales on a currency-neutral basis tumbled 16.4 percent in the period. (Read More)

EXEC: Retail Inventory Woes Impact Q2 Sales at BOA and Primaloft; Marucci and 5.11 See Gains at CODI

EXEC: Retail Inventory Woes Impact Q2 Sales at BOA and Primaloft; Marucci and 5.11 See Gains at CODI

Brand aggregator Compass Diversified (CODI) saw first-quarter sales decline 36 percent at BOA and 18 percent at Primaloft as both businesses continued to be impacted by stubbornly elevated inventories in the marketplace. Among CODI's other active lifestyle brands, revenues grew 35 percent at Marucci Sports and 5 percent at 5.11 while sliding 30 percent at Velocity Outdoor. (Read More)

EXEC: Columbia Sportswear Axes Outlook on Expectations of Promotional Second Half

EXEC: Columbia Sportswear Axes Outlook on Expectations of Promotional Second Half

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. (Read More)

EXEC: Big 5 Unable to Overcome Slow Start to Summer Selling

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. (Read More)

EXEC: Skechers Finds Strength Overseas Offset America Wholesale Weakness

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." (Read More)

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