Author: Thomas J. Ryan

Wolverine World Wide reported revenues and operating margin in the first quarter exceeded expectations. Better-than-expected performances by Saucony and Sperry and strong international growth helped overcome shortfalls in its e-commerce operations and at Sweaty Betty. Wolverine reiterated its guidance for 2022.

Callaway Golf lifted its outlook for earnings and sales for the year after reporting that first-quarter earnings came in well above guidance. Demand for the company’s golf equipment and soft goods lines remained robust while Topgolf bounced back toward the end of the quarter after being impacted by Omicron spikes early on.

Yeti Inc. reported sales in the first quarter climbed 18.6 percent year over year, exceeding plan. Sales have more than doubled since the first quarter of 2019 with drinkware sales leading the gains. Earnings were slightly ahead of Wall Street estimates.

Clarus Corp. reported first-quarter results topped Wall Street targets as strong sales growth in its Precision Sport or ammunition segment and strong North-American sales for Rhino-Rack offset inventory shortfalls due to logistics challenges at Black Diamond.

The Beachbody Company, Inc. reported a wider loss in the first quarter due in part to an inventory charge related to its connected fitness bikes. Sales declined 12 percent; however, revenue and adjusted EBITDA came in ahead of expectations.

Shares of Peloton fell $1.23, or 8.7 percent, on Tuesday to $12.90, reaching an all-time low, as sales and the loss in the fiscal third quarter ended March 31 were worse than expected and a tepid outlook was delivered for the fourth quarter.

Johnson Outdoors continued to see robust demand across its operating segments, but raw material shortages led to inventory shortfalls in its Fishing segment and a high-single-digit decline in its fiscal second-quarter sales.

Fox Factory Holding Corp. said sales in its Specialty Sports Group (SSG), its cycling component segment, grew 43.5 percent in the first quarter year over year, to just under $170 million. Fox Factory’s CEO Mike Dennison, told analysts, “Our order book remains robust for the rest of 2022, supported by signs of improvement in supply chain capacity.”

Adidas lowered its expectations for 2022 after a first-quarter slump as renewed COVID-related lockdowns worsened trends in Greater China. Sales declined 35 percent in the region in the quarter, and Adidas officials now expect sales to decline “significantly” in the key country this year.

Shares of Under Armour were trading down about 25 percent in mid-day trading Friday after the company reported results for its transitional March quarter that slightly lagged Wall Street expectations and provided weak guidance for the current year as it battles supply chain disruption and COVID-related lockdowns in China.

Compass Diversified (CODI) reported sales in the first quarter grew 55.8 percent at BOA Technology and 42.3 percent at Marucci Sports. Among other businesses in the active lifestyle space owned by CODI, 5.11’s revenues grew 4.2 percent while Velocity Outdoor’s sales declined 21.6 percent.

Champion sales globally increased 6 percent on a currency-neutral basis in the first quarter and expanded 28 percent on a two-year stack basis although supply chain constraints restrained the gains. Officials at Hanesbrands, Champion’s parent, also spoke highly of the hiring of former Adidas executive Vanessa LeFebvre to guide Champion’s growth.

Vista Outdoor reported its seventh consecutive quarter of record quarterly results to close out another record fiscal year, but the big news was management’s decision to split its Outdoor Products and Sporting Products segments into two independent, publicly-traded companies. On a call with analysts, CEO Christopher Metz said the separation will enable each business to better prioritize growth strategies.

Sturm, Ruger & Company, Inc. reported earnings declined 20.8 percent in the first quarter as sales were down 9.7 percent. The decline reflects tough comparisons as the first quarter of 2021 was the second-highest in Ruger’s history, outpaced only by the second quarter of 2021. On an analysts call, CEO Chris Killoy said April sales […]

Acushnet Holdings Corp.’s sales grew 7.6 percent on a currency-neutral basis in the first quarter despite continued supply chain disruption to help earnings fly past Wall Street’s targets. The growth was led by FootJoy, up double-digits across all product categories and Titleist clubs, driven by the successful launch of new Vokey SM9 wedges and continuing success of T-Series irons.