Author: Thomas J. Ryan

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.

Crocs, Inc. raised its guidance for earnings and sales for the year as the Crocs brand’s first-quarter results came in slightly ahead of guidance and Hey Dude’s came in well ahead with strong momentum behind the recently-acquired brand. Andrew Rees, CEO, told analysts, “While we have only owned Hey Dude for six weeks during the quarter, we are rapidly assimilating it into the company, and it’s very clear that demand for the brand is exceptional.”

Bogs’ wholesale sales surged 72 percent in the first quarter on top of the 17 percent annual increase in 2021, officials of Weyco Group Inc. said on an analyst call. Improving inventory levels helped drive the gains

Rocky Brands raised its guidance for sales growth in the current year to a range of 21-to-24 percent over 2021, up from its prior outlook of 16-to-19 percent growth, as first-quarter results came in well ahead of expectations with strength across brands and channels.

Delta Apparel, Inc.’s profits grew over 129.5 percent in the fiscal 2022 second quarter ended April 2 as sales expanded 21.2 percent and gross margins improved 270 basis points. Strong performances were delivered across its Delta and Salt Life business segments.

Big 5 Sporting Goods Corp. reported sales and earnings fell against record pandemic-driven results in the year-ago period, but sales were flat against the 2019 first quarter and EPS expanded more than 20 percent higher than in any pre-pandemic first quarter.

Newell Brands Outdoor & Recreation Segment continued its strong recent momentum in the first quarter as core sales increased 22.9 percent on top of a 7 percent gain in the year-ago period. The gains were boosted by retailers ordering inventory earlier this year to prepare for the spring/summer season.

Winchester managed to expand its sales by 9.6 percent in the first quarter after more than doubling sales in the year-ago period. Scott Sutton, president and CEO of Olin Corp., Winchester’s parent, said the Russia-Ukraine war should support Winchester’s growth as Russian ammunition faces export restrictions.

Boosted by robust growth in North America and EMEA region and better-than-expected margins, Columbia Sportswear’s earnings rose 19.5 percent in the first quarter on a 21.7 percent revenue gain. The outerwear mainstay raised its earnings guidance for the year and indicated fall bookings have strengthened.

Garmin Ltd. saw sales in its Fitness segment tumble 28 percent in the first quarter due a normalization of demand for cycling wearables from the pandemic-driven levels in the prior year, but strong gains for Outdoor and Marine segment helped drive overall healthy growth in the period.