Mizuno Corp. reported that sales in the Americas dropped 16 percent in the second quarter ended September 30 but the region returned to the black in the six months.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
Jim Weber Discusses Brooks’ Renewed Momentum
In October, Brooks Running Co. reported a whopping 29-percent increase in global revenue in the first nine months of this year, representing a strong bounce back for footwear’s run specialty leader. Here, Brooks Running CEO Jim Weber discusses Brooks’ return to strong double-digit growth, the recovering run specialty channel, the challenges around potential tariffs and what’s ahead for Brooks in 2019.
Morgan Stanley Bearish On JD Sports/Finish Line Merger
In a report entitled, “Is the Finish Line a step too far?,” Morgan Stanley initiated coverage of JD Sports Fashion Plc with an “Underweight” rating largely due to concerns over its recent mega-acquisition of The Finish Line. Part of that concern is that the merger comes as Nike and Adidas are rapidly expanding their direct-to-consumer (DTC) channels.
Crocs’ Stock Jumps As Turnaround Gains Further Traction
Shares of Crocs Inc. jumped $5.91, or 27.6 percent, to $27.35 on Thursday after the company reported earnings that flew past Wall Street’s targets on 13.7-percent growth in the Americas region and meatier gross margins. Guidance was sharply lifted for the year.
Canadian Tire Touts Growth Potential For Helly Hansen, Looks To Reset Sport Chek
On its third-quarter conference call, Canadian Tire officials indicated that Helly Hansen, acquired in early July, is off to a “good start” with its integration process and should find a bigger presence across the company’s Canadian stores by mid-2019. They also laid out plans for Sport Chek to re-merchandise departments by categories instead of by brand, expand private labels, and improve inventory productivity.
Adidas Finds Yeezy Boost Can’t Offset Europe Slowdown
Adidas lifted its profitability guidance for the year after reporting robust third-quarter earnings due to better-than-expected margins and strong double-digit growth in North America, China and across e-commerce channels. Yeezy delivered Adidas’ largest digital-release. But the year’s sales outlook was lowered as softness arriving in Europe earlier in the year worsened in the third quarter.
Asics Sees 8 Percent Q3 Sales Drop In The Americas
Asics Corp. reported an operating loss in its American region of ¥398 million ($3.5 mm) in the third quarter as sales declined 8.1 percent. Companywide, Asics slashed its earnings guidance for the year as it also saw a steep decline in profits in the Europe and a modest decline in Japan.
Newell Brands’ Turnaround Plans Gaining Traction
Shares of Newell Brands Inc. rose 14.5 percent Friday after the consumer-goods conglomerate reported adjusted earnings in the third quarter exceeded expectations as its turnaround efforts made some progress. The full-year EPS outlook was lifted for the year. Coleman’s sales were impacted by lost distribution at a key U.S. retailer.
Acushnet Lifts Outlook On Promising Q3
Acushnet Holdings Corp. slightly lifted its full-year guidance for earnings and sales after reporting robust growth in Titleist golf clubs and solid growth in Titleist balls that led to better-than-expected third-quarter results.
Champion’s Sales Soar Again In Q3
While Hanesbrands faced a number of challenges in the third quarter, including absorbing a bad-debt charge from Sears, currency headwinds and replenishment lags in Innerwear, the Champion business remains on fire. Champion’s sales grew in excess of 30 percent globally on a currency-neutral basis in the quarter and 40 percent excluding the mass channel.
Fitbit’s Smartwatch Entry Propels Rebound In Q3
Shares of Fitbit Inc. rose $1.22, or 25.8 percent, to $5.95 Thursday after the fitness tracker leader returned to profitability on a non-GAAP basis for the first time in two years on surging sales of smartwatches. The just-launched Fitbit Charge3 is also seeing a strong reception.
Fitness And Outdoor Wearables Shines For Garmin In Q3
Boosted by double-digit gains for both its Fitness and Outdoor segments on strength in wearables, Garmin Ltd.’s adjusted earnings climbed 32.0 percent in the third quarter ended September 29, easily topping Wall Street’s target. The Fitness segment was led by advanced wearables, led by the GPS-enabled Vívo line of products. The Fēnix’s series continues to drive Outdoor.
Under Armour’s Shares Pop As Transformation Gains Traction
Shares of Under Armour shot up $5.04, or 27.7 percent, to $23.23 Tuesday, the stock’s highest one-day gain since 2008, as the company reported third-quarter earnings that more than doubled Wall Street’s consensus expectations. On a conference call with analysts, Kevin Plank, CEO, described the performance as “another solid proof point that our multiyear journey toward becoming a more operationally excellent company is on track.”
Nautilus Sees Modest Impact From Sears Bankruptcy
Nautilus Inc. reported earnings tumbled in the third quarter due to higher input costs and a sharp drop in sales at the company’s Direct segment due to the timing of a relaunch but management indicated results were in line with plans. Officials also expect only a modest impact from the bankruptcy of Sears.
Columbia Sportswear Notches Strongest Earnings In Company History
Citing the benefits of the company’s “brand-led, consumer-focused” Project CONNECT initiative, Columbia Sportswear reported earnings topped Wall Street targets for the seventh straight quarter, lifted its guidance for the year and provided an upbeat outlook for 2019.
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