The move is designed to carve out the consistently underperforming segment from Xtep’s portfolio, allowing the company to concentrate its resources on developing its highly profitable brands – core Xtep brand, Saucony, and Merrell.
Category: Sports/Fitness
EXEC: Vista Outdoor Sees Another Tough Year Ahead
Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.
Hydrow Acquires Majority Stake in Speede Fitness
The acquisition supports Hydrow’s mission to “expand as a whole-body health company by incorporating a critical modality to diversify its product lineup.”
CNBC/NRF Retail Monitor Shows Growth in April Retail Sales
The Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
EXEC: Topgolf Callaway CEO Eyes Sales Pickup for Golf Businesses in Back Half
Topgolf Callaway Brands reduced its sales outlook for the year due to weakness at Jack Wolfskin and currency headwinds seen in the first quarter, but officials on an analyst call said that overall profitability came in significantly better than expected and its Topgolf and Golf Equipment segments are both positioned to accelerate growth in the second half.
HanesBrands Sees Global Champion Brand Sales Fall 25 Percent in Q1
Champion U.S. sales decreased 35 percent, with approximately 900 basis points of the decrease said to be from the shift of the kids’ business to a license-model and the remainder driven by the continued challenging activewear market dynamics.
Planet Fitness Lowers Guidance As Sales Weaken
Planet Fitness, Inc. reduced its guidance for both sales and earnings for the year as the first quarter ended March 31 saw a “shift in consumer focus in the New Year to savings and concern over the increase in COVID infections and other illnesses.” The fitness chain also cited the underperformance of an advertising campaign.
Report: U.S. Economy Bolstered by $22.4 Billion Health and Fitness Industry
New economic impact data outlines the size and impact of the industry for the first time as it relates to jobs, wages and taxes.
EXEC: Sportchek, Mark’s and Helly Hansen all Post Q1 Declines for Parent CTC
Helly Hansen sales, which covers the international wholesale and retail businesses that operate under the Helly Hansen and Musto names and trademarks, were down 7.8 percent year-over-year in Q1 to C$192.2 million.
Beachbody’s Q1 Sales Decline 17 Percent
The company Inc. reported a loss on a 17.2 percent decline in sales in the first quarter but said results were above its internal plan and it’s gaining traction on its turnaround plan.
EXEC: Puma CEO Sees U.S. Returning to Growth in Second Half
Puma’s sales in the Americas region returned to growth in the first quarter due to gains in Latin America and overall strength in performance and retro footwear styles. North America delivered sequential improvement and remains on track to resume growth in the second half, Puma officials said on a media call.
EXEC: Wolverine Worldwide CEO Outlines Transformation Progress To-Date
The company is beginning to see sequential improvement in its selling trends and that is said providing a level of confidence that the developed strategies and tactics are beginning to gain traction.
Topgolf Callaway Lowers FY Sales Outlook on Wolfskin Softness, FX Headwinds
Topgolf Callaway Brands Corp. reported sales were in line and earnings topped expectations in the first quarter as strength at Topgolf and in the Golf Equipment segment offset double-digit declines in its Active Lifestyle. Full-year guidance was maintained for adjusted earnings but lowered for sales due to currency headwinds and weakness at Jack Wolfskin.
Dick’s Official Sporting Goods Retail Partner of the Boston Celtics and Red Sox
Dick’s will also be the presenting partner of each franchise’s youth initiatives, including the Boston Red Sox’s Kid Nation and the Boston Celtics’ Junior Celtics Academy All Girls Showcases.
Delta Apparel Posts Steep Q2 Loss On Production Curtailment
Delta Apparel reported a net loss of $36.3 million in the fiscal second quarter ended March 30 due to significant production curtailments in the Delta Group segment. Sales were down 28.5 percent.
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