Emerald Holding, Inc., the operator of Outdoor Retailer and other trade shows, reported sales grew 16.2 percent in the third quarter ended September 30 while underlying earnings improved excluding year-ago event cancellation insurance benefits. Strength in its core trade show segment offset weakness in its content business.
Category: Apparel
EXEC: Wrapping Up the Less-Than-Jolly Holiday Forecasts For Retail
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.
Unifi First-Quarter Impacted by Weak Apparel Orders
Unifi, Inc. reported sales fell 22.7 percent in the fiscal first quarter ended October 1 due to “weak demand and depressed ordering patterns” in the apparel sector. The makers of Repreve-branded recycled and synthetic yarns, based in Greensboro, NC. posted a loss in the period.
Lids Opens NBA Store in Houston
Lids, in partnership with Fanatics and the NBA, opened a second NBA-themed store in The Galleria in Houston, TX, its second flagship in the U.S. following its New York City store that opened in 2015.
October U.S. Employment Numbers Fall Short of Expectations
Many noted that the 150,000 increase in jobs and the 3.9 percent unemployment rate were in line with the pre-pandemic employment picture and some wondered if maybe, just maybe, the market was getting back to normal.
Report: Foot Traffic Data Sees Possible Boost for Sporting Goods Retail for Black Friday
Year-over-year visit gaps at Recreational & Sporting Goods chains, Electronics Stores and Department Stores widened significantly since the end of August, but more recent data looks a little more promising, with all three categories now seeing their visit gaps begin to shrink.
EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
Brand aggregator Compass Diversified saw Q3 sales decline 25 percent at BOA, 16 percent at Primaloft and fall 28 percent at Velocity Outdoor, while revenues grew 13 percent at Marucci Sports and 7 percent at 5.11. The company reported it was selling Marucci.
Christy Sports Appoints New CEO, Marketing and Merchandising Chiefs
Christy Sports appointed Pete LaBore as chief executive officer, Mimi Nuelle as chief merchandising officer, and Danielle Quatrochi as chief marketing officer.
VF Corp.’s Debt Ratings Outlook Revised To Negative by S&P
S&P Global Ratings reduced its debt ratings outlook at VF Corp. on the company’s fiscal second-quarter report which came in below the rating agency’s base-case forecast with leverage increasing further to 4.4x compared with 3.6x in the same prior year period.
EXEC: Titleist Parent Gains Q3 Boost from Healthy U.S. Golf Market
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported third-quarter earnings and sales topped Wall Street expectations on strength in the U.S. golf market. On an analyst call, David Maher, president and CEO, said the U.S. is outpacing markets overseas in both golf rounds played and consumer spend due to resilient golf enthusiasts.
NRF Sees 3 to 4 Percent Growth in Holiday Spending
The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
Gildan Activewear Sees Modest Sales Growth in Third Quarter
Gildan Activewear, Inc. reported sales grew 2 percent in the third quarter with flat sales in activewear and gains in the hosiery and underwear category. Results were in line with expectations with the sales gains following several quarters of declines. The company, however, now sees sales and earnings landing at the lower end of guidance due to macroeconomic pressures.
Titleist Parent Lifts Annual Earnings Outlook on Golf Club and Ball Strength
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported net earnings rose 10.6 percent in the third quarter on a 6.3 percent revenue gain. The increases were led by double-digit growth in club sales with with a 6.3 percent increase in balls. Revenue guidance for the year was reaffirmed and earnings guidance slightly raised.
Report: Authentic and WHP Global Exploring Champion Acquisition
Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale.
Topgolf Callaway Acquires BigShots Golf
Topgolf Callaway Brands Corp. reported that the company purchased certain assets from Invited, Inc., the largest owner and operator of private golf clubs in the U.S., related to its BigShots Golf business.
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