Author: Thomas J. Ryan

The TJX Cos., Inc. reported its overall apparel business at Marmaxx was slightly positive every month during the second quarter, but overall, U.S. comps were down 5 percent due to a steep decline in the home category. The parent of T.J. Maxx and Marshalls increased its full-year pretax profit margin outlook but overall lowered its sales and EPS guidance.

Signa Sports United N.V. reported sales grew 29 percent in the third quarter ended June 30 but slashed its outlook for the year due to the sudden deterioration of consumer demand over the quarter and lingering supply chain constraints.

On’s second-quarter results arrived far ahead of Wall Street’s targets as the Swiss running brand was able to overcome supply chain challenges and capitalize on particularly strong demand in North America. On raised its outlook for the year. Caspar Coppetti, executive co-chairman, said, ““All geographies, channels and categories contributed strongly to this outstanding result.”

Ammo, Inc. acquired GunBroker.com, one of the largest online auction marketplaces dedicated to selling firearms, hunting, shooting, and related products, in May 2021. On Monday, Ammo announced plans to split its marketplace and ammunition businesses into two independent publicly traded companies.

Escalade, Inc. reported sales declined 13 percent, excluding acquisitions, in the second quarter due to lower demand in the fitness category and a reduction in outdoor category sales, including archery and water sports. Margins were flat as cost controls and pricing actions helped offset inflationary pressures.

Asics reported an operational loss in its North America segment in the six months due to reduced gross margins as well as higher operating expenses tied to higher e-commerce sales. Sales declined 2.7 percent on a currency-neutral basis, impacted by supply chain disruption.

SportChek’s comparable sales climbed 4.1 percent in the second quarter ended July 2 over the same period last year, overcoming supply chain disruption and benefiting from the return to organized team sports.

Canada Goose reported revenues and bottom-line results surpassed its guidance in the first quarter ended July 3 profitability due to strength in North America. Dani Reiss, chairman and CEO, told analysts that demand for the high-end outerwear brand remained strong despite heightened macroeconomic pressures.

Wolverine Worldwide delivered operating margin ahead of expectations and EPS at the high-end of guidance but revenue in the quarter came in softer than expected and guidance for the full year was reduced on expectations that the marketplace will become increasingly promotional in the back half. Positives in the quarter included growth of 14 percent for Merrell and 16 percent for the Wolverine brand as sales for Saucony, Sperry and Sweaty Betty missed plan.

Nautilus, Inc. had another brutal quarter as sales tumbled 70.3 percent in the first quarter ended June 30 to drive a steep loss. However, Jim Barr, CEO, said consumer enthusiasm for JRNY, Nautilus’ digital membership platform, remains strong, and he believes Nautilus’ value-focused approach positions the company to gain significant share as the at-home fitness opportunity stabilizes.

Shares of Allbirds fell about 20 percent on Tuesday after the eco-friendly footwear company slashed its full-year guidance and announced a cost-cutting plan, including layoffs, to compensate for lower-than-planned sales. Joey Zwillinger, co-founder and co-CEO, told analysts, ““Since our May earnings call, persistently high inflation has started to take its toll on consumers.”

The Beachbody Company, Inc. reported a 20 percent decline in sales in the second quarter ended June 30, in line with expectations. Carl Daikeler, co-founder, chairman, and CEO, told analysts the focus would continue to be on expense control as demand for at-home fitness “could remain variable in the near-term” with increased uncertainty around the broader economic climate.

On Mondelez International’s second-quarter analyst call, Dirk Van de Put, chairman and CEO, said the acquisition of Clif Bar & Co. “will improve our position in the attractive and fast-growing snack bar category,” helping expand the company’s global snack bar business to more than $1 billion.