Author: Thomas J. Ryan

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.

Helen Of Troy said sales in its Home & Outdoor segment, formerly Housewares, grew 29.8 percent in the fourth quarter ended February 28 with about half the growth attributable to the December-2021 acquisition of Osprey. Core sales growth of 15.2 percent was led by Hydro Flask.

Puma delivered 44 percent currency-neutral growth in the Americas region in the first quarter, boosted by the energy around Lamelo Ball’s basketball shoe, the brand’s return to performance running and the recovery in golf.“ Said Bjørn Gulden, Puma’s CEO, on a media call, “I’m very, very proud of the North American numbers.”

Starting its 30th year in business, Skechers U.S.A., Inc. reported sales grew 26.8 percent in the first quarter ended March 31 to a new quarterly sales record, boosted by a resurgence in its U.S. wholesale business as product deliveries recovered.

At Investor Day, Callaway Golf Company set an aggressive growth plan to expand sales by 10-to-12 percent from fiscal 2021 through 2025, led by its Topgolf segment. Officials were optimistic that demand for golf would not experience a significant pullback post-pandemic.

Morgan Stanley launched coverage on Acushnet Holdings, the parent of Titleist and Footjoy, with an “Equal-Weight” rating as Acushnet’s recent growth momentum is seen priced into its valuation. Analyst Brian Harbour said Acushnet has “unique advantages in consumer discretionary and longer-term upside if golf tailwinds endure.”

Shares of Lululemon slid $19.26, or 4.8 percent, to $385.40 after the yoga-themed retailer announced an ambitious five-year growth plan to double its sales by 2026. Analysts were generally bullish on Lululemon’s growth plan with a few concerned about the stock’s lofty valuation.