The company saw total revenue for the second quarter increase 30 percent to $77.3 million, up from $59.6 million in the prior-year period. The increase included a corresponding North America same-store sales increase of 15 percent.
Category: Sports/Fitness
EXEC: GoPro Gets Q2 Sales Lift on Lower Prices, Return to Retail Doors
GoPro said it saw an immediate retail sales and GoPro subscription lift in the second quarter as a result of its mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales.
Nike Partners with USA Gymnastics
For the first time, Nike will serve as the official apparel and footwear partner of USA Gymnastics and the USA Gymnastics National Team.
Delta Apparel Logs Q3 Loss As Sales Decline Double-Digits
Delta Apparel Inc. posted a loss in the fiscal third quarter ended July 1 due to efforts to reduce production levels to rebalance inventories in the marketplace as well as from inflationary pressures on cotton. Delta said the inventory and inflationary pressures are receding.
EXEC: Adidas Sees North America Struggles Continue
Adidas’ second quarter results included several encouraging signs, including securing an incremental profit of €150 million ($164 mm) from the first drop of leftover Yeezy, significantly improved margins due to better sell-throughs and less discounting, and a return to double-digit growth in China. However, the laggard continues to be North America, where sales on a currency-neutral basis tumbled 16.4 percent in the period.
Fox Factory Posts Flattish Q2 Sales Growth Despite Shrinking Specialty Sport Group
A 1.5 percent revenue decrease for Q2 reflects a 41.0 percent decrease in Specialty Sports Group net sales, offset by a 32.6 percent increase in Powered Vehicles Group and 26.2 percent growth in the Aftermarket Applications Group net sales.
ICSC: Majority of BTS Shoppers Spending More in 2023 Due to Inflation, Higher Prices
While inflation is a partial driver of higher spending, the data found that the consumer remains resilient, but focused on deal-hunting for the best prices in the face of rising costs.
EXEC: Adidas Says No More Yeezy After Sell-Off Despite Flat Q2, Profit Bump
On Thursday, Adidas raised its earnings outlook for the year, in part because of demand for the company’s remaining stock of its discontinued Yeezy merchandise. The brand was boosted by the margin benefit from reduced inventory levels in the marketplace and China’s continuing recovery.
Study: Golf Distance Measuring Device Market Down, but Outpaces Pre-COVID Levels
The Distance Measuring Device (DMD) category declined in 2022, with total U.S. market revenues of nearly $180 million and remains more significant than hybrid clubs and slightly smaller than putters, according to Golf Datatech’s Sixth Edition of a comprehensive study covering the DMD market.
WFSGI Sets CEO Succession Plan
The World Federation of the Sporting Goods Industry (WFSGI) said Emma (Mason) Zwiebler will replace Robbert de Kock as CEO of the organization effective November 1.
Planet Fitness Sees Same-Store System Sales Improve 9 Percent In Q2
Planet Fitness, Inc. reported sales grew 27.6 percent in the second quarter ended June 30 with system-wide same-store sales increasing 8.7 percent on strong member growth. The fitness chain nonetheless slightly reduced its growth targets for the year due to higher new store construction costs and increased interest rates.
Gildan Lowers Full-Year Outlook as Negative Market Forces Threaten Upside
While net sales for Q2 were said to be above the company’s expectations at $840 million, Gildan said it sees current market conditions unfavorably impact activewear product mix, both in North American and International markets, as customers focus on lower-priced products.
Titleist Parent Sees 6.4 Percent Currency-Neutral Growth in Q2
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported second-quarter sales rose 4.7 percent on a reported basis and 6.4 percent in constant currency, driven by double-digit growth in golf balls and golf clubs. Net income increased 12.3 percent, while adjusted EBITDA gained 24.0 percent. Acushnet slightly lifted its guidance for the year.
EXEC: Retail Inventory Woes Impact Q2 Sales at BOA and Primaloft; Marucci and 5.11 See Gains at CODI
Brand aggregator Compass Diversified (CODI) saw first-quarter sales decline 36 percent at BOA and 18 percent at Primaloft as both businesses continued to be impacted by stubbornly elevated inventories in the marketplace. Among CODI’s other active lifestyle brands, revenues grew 35 percent at Marucci Sports and 5 percent at 5.11 while sliding 30 percent at Velocity Outdoor.
Vimazi Expands Distribution In Australia and New Zealand
Vimazi, the maker of pace-tuned running shoes, partnered and Simon Bartold to be the exclusive distributor for the brand in Australia and New Zealand.
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