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.
Category: Sports/Fitness
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.
More Than $2 Million Raised For Kids At 10th Annual Skechers Pier To Pier Friendship Walk
The Skechers Foundation broke new fundraising records for children with special needs and education at Sunday’s 10th annual Skechers Pier to Pier Friendship Walk, surpassing $2 million in contributions and totaling over $11 million since the Walk’s launch.
Brunswick Names Jason Worthy As President – Fitness Division
Brunswick Corporation (BC) announced that Jason Worthy, a fitness industry veteran with more than 20 years of fitness industry experience, most recently as vice president and general manager of fitness solutions for Life Fitness, has been named president of Brunswick’s Fitness division.
Garmin Lifts Outlook On Robust Growth
Garmin Ltd. reported adjusted earnings rose 32 percent in the third quarter ended September 29, easily ahead of Wall Street’s target. Revenues rose 8 percent. Strong gains were seen by the Marine segment, running up 28 percent; Aviation, 17 percent; Fitness, 14 percent and Outdoor, 13 percent. Garmin lifted the company’s full-year EPS guidance.
Nike Extends Deal With Tottenham Hotspur
Nike has extended the company’s deal with Tottenham Hotspur until 2033.
Behind The Deal: Hibbett Makes Strong Retail Play With City Gear Acquisition
Hibbett Sports Inc. CEO Jeff Rosenthal spoke with SGB about the company’s $88 million (plus undisclosed incentives) acquisition of Memphis, TN-based “city specialty” retailer City Gear, which the Birmingham, AL-based retailer believes will be transformational for both companies as they leverage each other’s strengths.
Under Armour’s Shares Pop As Transformation Gains Traction
Shares of Under Armour shot up $5.04, or 27.7 percent, to $23.23 Tuesday, the stock’s highest one-day gain since 2008, as the company reported third-quarter earnings that more than doubled Wall Street’s consensus expectations. On a conference call with analysts, Kevin Plank, CEO, described the performance as “another solid proof point that our multiyear journey toward becoming a more operationally excellent company is on track.”
Big 5 Sporting Goods Corp. Misses On Q3 Revenue, Earnings
Big 5 Sporting Goods Corporation on Tuesday reported financial net sales for the third quarter ended September 30 of $266.4 million, down from net sales of $270.5 million for the third quarter of fiscal 2017.
Nautilus Sees Modest Impact From Sears Bankruptcy
Nautilus Inc. reported earnings tumbled in the third quarter due to higher input costs and a sharp drop in sales at the company’s Direct segment due to the timing of a relaunch but management indicated results were in line with plans. Officials also expect only a modest impact from the bankruptcy of Sears.
Brooks Considering Exiting China For Vietnam
Brooks Running is considering shifting the company’s manufacturing operations from China to Vietnam to avoid trade war tariffs, Brooks’ CEO Jim Weber said in an interview with CNBC’s “Squawk Box.”
New Balance To Appoint Joe Preston CEO
New Balance Athletics Inc. announced that president and chief executive officer Rob DeMartini will step down effective December 31, 2018 and New Balance veteran Joe Preston will assume the role.
Under Armour’s Q3 Flies Past Estimates
Under Armour Inc. reported earnings that handily topped Wall Street’s targets as international sales continue to spike and promotional activity lessened. Sales in the U.S. declined 2 percent. Earnings guidance for the year was slightly raised.
SGB Today
Active Lifestyle Market Product and Brand Marketing Stories from SGB PRO PR and SGB Premium PR Partners
Post your Product or Marketing News in the SGB PR Portal