Ian Widmer, the founder of Progression Brands Group (PBG) talked to SGB about his company’s unique hybrid equity/management investment structure, the boutique’s investment criteria and the opportunities and challenges facing emering brands in today’s marketplace.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
Camping World Hit By Softness And Ramped-Up Investments At Gander
Shares of Camping World fell $3.17, or 14.3 percent, to $19.04 on Wednesday after the retailer reported both earnings and sales missed Wall Street targets and lowered the company’s profit outlook for the year. The RV retailer was impacted by losses at Gander Outdoors during the quarter as well as ramped-up investments to roll out Gander RV sections at Gander’s locations.
Starter And Umbro Bright Spots In Ugly Iconix Q2
Iconix Brand Group Inc. cited successful initiatives supporting the relaunches of Starter and Umbro as highlights in what was otherwise another tough quarter for the company.
Tennis Industry Association Opposes New Tariffs On Imported Goods
The Tennis Industry Association is opposing proposed tariffs on products that are of specific concern to the tennis and racquet sports industry.
Johnson Outdoors Benefits From Healthy Re-Orders
Benefitting from season replenishment orders for the company’s warm-weather outdoor recreation products, Johnson Outdoors delivered record earnings and sales in the third quarter ended June 29. The gains were again led by the company’s Fishing segment but Jetboil delivered double-digit gains and Eureka! returned to growth.
Asics Shows Steep Q2 Loss In Americas
Asics Corp. showed an operating loss of ¥1 billion ($8.98 mm) in the American region in the second quarter ended June 30 as sales tumbled 17.7 percent in period.
Dorel Sports’ Revenues Bounce Back In Q2
Helped by better weather and the success of new bike introductions from Cannondale and GT, Dorel Sports segment sales climbed 7.4 percent in the second quarter to $224.5 million while expanding 6.5 percent on a currency-neutral basis.
Callaway Golf Delivers Another Blowout Quarter
Shares of Callaway Golf were trading ahead 12 percent in early-afternoon trading Friday as the company’s second-quarter sales and earnings easily topped projections. With earnings and sales exceeding guidance for the sixth straight quarter, Callaway again raised guidance for the year.
Can Champion Offset Loss Of Target Mega-Deal?
Shares of HanesBrands fell $4.30, or 19.3 percent, to $17.96 on Wednesday after management said the wildly-successful C9 by Champion line would be exiting Target once the contract expires in January 2020. Gerald W. Evans Jr., Hanesbrands CEO, said the brand is close to maturity on Target’s selling floors and the company was sticking to its target for Champion’s global sales to reach over $2 billion by 2022.
Deckers Brands Outlook Disappoints
Deckers Brands handily exceeded the company’s guidance in the first quarter with monster gains from Ugg and Hoka One One. But shares slid on Friday as much of the upside was attributed to earlier-than anticipated shipments and the company only slightly lifted EPS guidance for the year.
Wall Street Cheers Lululemon’s CEO Hire
Shares of Lululemon Athletica rose slightly on Wednesday as Wall Street analysts unanimously applauded the hiring of Calvin McDonald, the CEO of the Sephora cosmetics chain, as its next CEO.
What’s Behind Brooks Running’s Shop-In-Shop Initiative?
On June 16, Brooks Running announced the company was partnering with 30 run specialty shops in the U.S. and Canada to launch the company’s first shop-in-shop program. SGB Executive reached out to Mike Billish, VP of U.S. sales, to explore the new program.
Outdoor Industry Leaders Issue Call-To-Action On Participation
Likening outdoor participation to a “leaky bucket,” the Outdoor Foundation Board Chair Sally McCoy, said at the OIA Industry Breakfast that the industry has been able to “get some people in but we’re losing more out the bottom.” Moreover, she said Outdoor Foundation research confirms “we’re late in the game” as far as reversing trends.
SGB Exec Q&A: Locally’s Founder And President Mike Massey
In an interview with SGB, Mike Massey, Locally’s founder who is also the owner of Massey’s Outfitters in New Orleans, discussed the rapid expansion and evolution of Locally since its launch in 2014, as well as the fast-changing dynamics of online and offline retailing.
Active-Lifestyle Stocks Bounce Back In First Half
With the nine-year bull market facing some choppiness this year due to a number of macro challenges, many stocks in the athletic-lifestyle space stood out for their outsized performances. Big gainers included Canada Goose, Under Armour, Lululemon, Deckers Outdoor and Crox.
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