Author: Thomas J. Ryan

Yeti Holdings Inc. was able to circumvent supply chain hurdles to deliver third-quarter results that surpassed Wall Street targets and slightly raise its outlook for the full year. Sales grew 23 percent year-over-year and are up 58 percent against the second quarter of 2019. Officials said price actions will be taken to offset cost pressures

Wolverine World Wide Inc. reported strong demand for most brands and record bookings but reduced its earnings guidance in the year due to supply chain challenges that are expected to continue at least until the end of the year. In the third quarter, Wolverine officials indicated they lost at least $60 million in sales due to factory closures in Vietnam and logistics delays.

Adidas AG downgraded its full-year sales and profit forecasts and predicted costly disruptions from supply-chain snags will carry into the first quarter of 2022, after factory closures in Vietnam and consumer boycotts in China weighed on top-line growth in the third quarter.

“Our company is on a roll, and I’m very optimistic about the road ahead,” Chip Brewer, Callaway Golf’s president and CEO, told analysts after the company delivered strong third-quarter results that exceeded expectations despite supply chain hurdles and again raised its guidance for the year.

Clarus Corp. said aggressive inventory investments are helping navigate what John Walbrecht, president, describes as “the toughest supply chain environment in our history” to support outsized Q3 growth in both its Black Diamond and bullet/ammunition businesses.

Asics’ sales in the North America region climbed 15.1 percent in the third quarter, marking the third consecutive quarter of double-digit quarterly growth. Asics overall raised its profit outlook for the year.

Fox Factory Holding Corp. said its Specialty Sports Group (SSG), its cycling component division, soared 48.1 percent in the third quarter despite continuing supply chain constraints. Officials said with the current pace of industry demand, it expects it will take eight to 10 months to meet the current customer demand level and another 12-to-18 months to replenish the depleted inventory channels.

Dorel Industries Inc. reported a slight decline in sales at its Dorel Sports segment as continued strong demand for bikes was not able to overcome supply chain disruptions and component shortages. Martin Schwartz, Dorel’s CEO, said he doesn’t see it changing anytime soon.

Shares of Canada Goose are running up about 20 percent in mid-day trading as the outerwear specialist reported second-quarter earnings topped Wall Street targets and lifted its outlook for the year. Officials also bragged that its Canadian production is helping it completely avoid the widespread supply chain challenges. Dani Reiss, president and CEO, said, “The weaknesses in unprepared supply chains have been exposed.”

Shares of Peloton were trading down about 33 percent in mid-day trading on Friday after the connected fitness pioneer slashed its forecast for the full fiscal year ending next June as demand for its exercise bikes and treadmills was slowing faster than expected.

Champion brand’s global sales increased 20 percent over the third quarter of 2019, with 22 percent growth in the U.S. and 19 percent growth internationally, according to quarterly results posted by its parent, Hanesbrands.

Vista Outdoor Inc. reported sales jumped 35 percent in the second quarter ended September 26 due to stellar growth by its ammunition business and a record quarter by Camelbak. With contributions from the acquisitions of Fiber Energy Products, Foresight Sports, QuietKat, Venor, HEVI-Shot and Remington, sales for the fiscal year ended March 2022 are projected to expand over 30 percent.

Acushnet Holdings Corp.’s earnings and sales soared past Wall Street targets as the parent of the Titleist and FootJoy was able to circumvent extensive supply chain challenges to meet continued vibrant demand across golf categories. Acushnet’s outlook was significantly raised for the year.

Big 5 Sporting Goods’ same-store sales were down 0.7 percent in the third quarter ended September 30 against tough comparisons given the year-ago sales surge during the early months of the pandemic. On a two-year stack basis, comps jumped 13.2 percent versus the 2019 third quarter. The gains were achieved despite supply chain challenges that are causing some product shortages.

Boosted by a better-than-expected performance in North America and continued momentum at direct-to-consumer, Under Armour reported third-quarter earnings arrived well above Wall Street’s target and significantly hiked earnings targets for the year. Officials said the company is now on track to deliver record revenue and earnings results in 2021.