Dorel Sports’ revenue grew 6.6 percent in the third quarter to U.S.$219.1 million from U.S.$205.5 million, according to the financial report of its parent, Dorel Industries. Organic revenue grew approximately 11.8 percent.
Category: Sports/Fitness
Acushnet Lifts Outlook On Promising Q3
Acushnet Holdings Corp. slightly lifted its full-year guidance for earnings and sales after reporting robust growth in Titleist golf clubs and solid growth in Titleist balls that led to better-than-expected third-quarter results.
Aisle Talk Week of October 29
Top headlines from the active lifestyle industry you may have missed this week, including the outlook for U.S. apparel and footwear manufacturers being changed to positive from stable, according to Moody’s Investors. The agency cited the progress of companies like VF Corp. (pictured) in the report.
GoPro’s Sales Improve 1 Percent Sequentially
GoPro Inc. posted a net loss in the third quarter ended September 30 with sales declining 13 percent year-over-year. But sales were up 1 percent sequentially and both the loss and revenues were slightly better than Wall Street’s targets.
Champion’s Sales Soar Again In Q3
While Hanesbrands faced a number of challenges in the third quarter, including absorbing a bad-debt charge from Sears, currency headwinds and replenishment lags in Innerwear, the Champion business remains on fire. Champion’s sales grew in excess of 30 percent globally on a currency-neutral basis in the quarter and 40 percent excluding the mass channel.
Gildan Activewear Impacted By Hurricane Florence In Q3
Gildan Activewear said sales grew 5.3 percent in the third quarter despite Hurricane Florence limiting shipments during September. Earnings were up 7.5 percent, in line with Wall Street’s targets.
HanesBrands Takes Charge For Sears Bankruptcy
HanesBrands, the parent of Champion, took a bad-debt reserve charge of $14 million related to the bankruptcy filing of Sears Holdings Corporation. As a result, GAAP operating profit of $257 million declined 1 percent and GAAP diluted earnings per share were 47 cents per share. HanesBrands lowered its EPS guidance for the year.
Acushnet’s Operating Earnings Expand 18.9 Percent
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported adjusted EBITDA climbed 18.9 percent in the third quarter as sales gained 6.7 percent. Consolidated net sales in the United States increased by 10.7 percent.
Escalade Q3 Profits Climb 16 Percent
Escalade Inc. reported earnings rose 16.1 percent on higher gross margins and robust e-commerce growth.
Inaugural Racquet & Paddle Sports Conference To Be Held In Orlando
The inaugural Racquet & Paddle Sports Conference, run by the TIA (Tennis Industry Association), will be held from January 23 to 25 in Orlando, FL.
Fitbit’s Smartwatch Entry Propels Rebound In Q3
Shares of Fitbit Inc. rose $1.22, or 25.8 percent, to $5.95 Thursday after the fitness tracker leader returned to profitability on a non-GAAP basis for the first time in two years on surging sales of smartwatches. The just-launched Fitbit Charge3 is also seeing a strong reception.
Big 5 Outlines Strategy For Adapting To Market Pressures
Though Big 5 Sporting Goods Corp.’s third quarter earnings fell within guidance, the company was shy of expectations as August and September sales were “disappointing,” company President and CEO Steven Miller said on Tuesday afternoon’s earnings conference call with analysts.
Fitness And Outdoor Wearables Shines For Garmin In Q3
Boosted by double-digit gains for both its Fitness and Outdoor segments on strength in wearables, Garmin Ltd.’s adjusted earnings climbed 32.0 percent in the third quarter ended September 29, easily topping Wall Street’s target. The Fitness segment was led by advanced wearables, led by the GPS-enabled Vívo line of products. The Fēnix’s series continues to drive Outdoor.
Fox Factory Q3 Revenues Soar 38 Percent
Fox Factory Holding Corp. reported earnings rose 50.9 percent in the third quarter as sales vaulted 38.0 percent.
Intersport Appoints New CEO
IIC-Intersport International Corporation GmbH (IIC) said Steve Evers, the current vice chairman of the IIC Board, was nominated as the new CEO. He will start in his new position early 2019. Victor V. Duran stepped down from his position as IIC CEO by mutual agreement with immediate effect.
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