Kontoor Brands, Inc., which completed its acquisition of Helly Hansen in June, has raised its outlook for the year due to better-than-expected results in the second quarter and tariff mitigation efforts. The second quarter was boosted by better-than-expected revenue growth from its Wrangler denim businesses as well as a stronger-than-expected contribution from Helly Hansen.
Category: Sports/Fitness
EXEC: Titleist Parent’s CEO Remains Bullish On Golf Despite Macro Pressures
Acushnet Holdings, Corp., the parent of the Titleist and FootJoy golf brands, reported second-quarter results that showed increases of 5.4 percent in sales, 5.9 percent in net income, and 9.2 percent in adjusted EBITDA, but earnings and sales trailed Wall Street expectations. The sales gains were driven by higher net sales in Titleist golf equipment, primarily due to increased average selling prices for golf clubs and higher sales volumes for golf balls.
Gildan Partners With S&S Activewear on Distribution Deals for Imprintables Channel
Gildan has granted S&S Activewear exclusive wholesale distribution rights to its American Apparel brand for the U.S. imprintables market. It also reached an agreement for S&S to become the exclusive wholesale distributor of its brand portfolio, which includes Gildan, Comfort Colors, American Apparel, and Champion, in the Canadian imprintables market.
Callaway Raises Full Year Outlook as Topgolf Q2 Not as Bad as Expected
Golf Equipment revenue decreased 0.5 percent and Active Lifestyle revenue decreased 15.1 percent, due primarily to the sales of the Jack Wolfskin business. Topgolf revenues declined 2.1 percent for Q2 but same-venue sales were down 6 percent.
NSGA Appoints John Davenport of Play It Again Sports Parent to Association Board
John Davenport is the manager of buying operations for Winmark and is a 36-year veteran of the resale and sporting goods industries. He joined Winmark in 1989 and has held various buying and operational roles that have contributed to the growth and evolution of Winmark’s resale brands, including Play It Again Sports.
Report: Dick’s SG-Foot Locker Deal May Be Under Additional Anti-Trust Scrutiny
Senator Elizabeth Warren (D-MA) is asking the Federal Trade Commission and the Department of Justice to “closely scrutinize” Dick’s Sporting Goods’ proposed acquisition of Foot Locker, Inc. and “block the deal” if the merger is found to violate antitrust laws.
Adanola Secures Investment from Story3 Capital Partners
Adanola, the UK-based direct-to-consumer women’s activewear brand, complemented by a curated wholesale network, received a “significant” minority investment from Story3 Capital Partners, the Los Angeles, CA-based private equity firm.
Life Time’s Debt Ratings Upgraded by Moody’s
Life Time, Inc.’s debt ratings were upgraded due to the fitness chain’s continued improvement in free cash flow generation, operating performance and steady deleveraging. Moody’s said, “Club expansion, including the addition of more than 20 new centers over the past two years and strong low double-digit same-store-center revenue growth, has been driving earnings growth, leading to a steady reduction in leverage.”
Engineered for Whatever: Columbia Sportswear Debuts New Brand Platform
The new platform will roll out across all of Columbia’s consumer and marketing channels this fall, demonstrating how the brand’s “well-engineered gear is built to perform in even the most unpredictable outdoor conditions.” The campaign puts a playful spin and an irreverent tone, paired with outrageous scenarios on outdoor adventures.
EXEC: TNF’s Japan Distributor Sees Operating Profits Expand Double-Digits In Q1
Goldwin’s portfolio of brands, both owned or licensed, includes Goldwin, The North Face, Helly Hansen, Woolrich, Icebreaker, Macpac, Fischer, Sunski, Neutralworks, Play Earth Kids, Canterbury, Speedo, And Per Se, Allbirds, and Profecio.
Saucony Posts Sharp Jump in Q2 Sales for Wolverine WorldWide; Merrell Up 9.0 Percent
Strong double-digit growth at Saucony, accompanied by 9 percent constant-currency growth at Merrell, and coupled with another quarter of record gross margin, helped more than double the company’s Adjusted EPS year-over-year.
Planet Fitness Posts 13 Percent Growth in Q2 on Robust Equipment Sales
The fitness chain reported total revenue increased 13.3 percent in the second quarter ended June 30 to $340.9 million from $300.9 million in the prior year period, including system-wide same club sales growth of 8.2 percent.
EXEC: July Manufacturing Index Indicates Contraction in U.S. for Fifth Straight Month
Economic activity in the manufacturing sector contracted in July for the fifth consecutive month, following a two-month expansion preceded by 26 straight months of contraction, based on ISM’s survey of the country’s supply executives.
Beachbody Shrinks Q2 Loss Despite Steep Revenue Decline
The Beachbody Company, Inc. narrowed its loss in the second quarter ended June 30 and saw its seventh consecutive quarter of positive adjusted EBITDA, although sales declined 42.0 percent due to its pivot last fall from a multi-level marketing (MLM) to a single-level affiliate program.
EXEC: Mainland Headwear Saw Q2 Profit Jump on Shift to Bangladesh Manufacturing
The headwear manufacturer for New Era and other large brands stated that the increase in net profit is primarily due to a rise in sales and profit, as more orders shifted from countries subject to higher U.S. tariffs to Bangladesh.
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