On Holding posted 40 percent net sales growth on a constant-currency basis in Q1. The updated outlook implies a constant-currency net sales growth rate of close to 25 percent for the remaining nine months of the year.
Category: Sports/Fitness
EXEC: Yonex Sees Racquet Sports Boost from Summer Olympics
Japan-based racquet sports and golf equipment manufacturer Yonex Company, Ltd. reported revenues expanded 18.8 percent in its fiscal year ended March 31 to ¥138.2 billion ($936 mm). Sales for Badminton and Tennis increased in Japan and overseas due to strong demand.
Academy Sports Board Member Resigns
Scott Boatwright, an independent board member, has resigned as a director, reducing the size of its board from eleven to ten directors.
EXEC: Mizuno’s Annual Sales and Profits Reach Record Levels; Golf and Running Lag
In the Americas region, Mizuno sales grew 6.2 percent on strength in golf and volleyball, while operating profits improved 18.3 percent year-over-year. The company said there is a sense of a lull in the expansion of the golf market, which has continued over the past few years.
Under Armour Fiscal Q4 Revenues Slump 11 Percent; Expects MSD Decline In Q1
Under Armour, Inc.’s revenues declined 11 percent in the fourth quarter and 9 percent in the fiscal year ended March 31, but both sales and adjusted earnings topped guidance.
On Holding’s Q1 Sales Top Expectations, Trims FY Profit Guidance
The Swiss running brand slightly lowered its earnings expectations as tariffs have introduced higher levels of planning uncertainty but slightly raised its it sales expectations for the year.
Callaway Golf Sees Golf Equipment as Least Weakest Link in Company’s Q1 Results
Topgolf segment revenue decreased $29.1 million to $393.7 million, with a decline in same-venue sales offsetting revenue from new venues. Same-venue sales declined 12 percent, in line with expectations.
EXEC: Rocky Mountain Transitions into Chaos After Court-Directed Sale of Assets
Three new owners are involved with e-bike maker Maui Bikes, headquartered in Québec. The new ownership team is said to bring diverse expertise, a shared love for cycling and the outdoors and a clear commitment to growing Rocky Mountain while staying true to its DNA.
EXEC: U.S. and China Agree to 90-Day Tariff Pause
In announcing a pause on the tariff war, the U.S. tariffs were cut to 30 percent from 145 percent, and the China tariffs on U.S. goods were cut to 10 percent from 125 percent as the two countries work to develop a long-term deal.
EXEC: Peloton CEO Highlights Four “Objectives” to Drive Growth
The operator of a connected fitness platform in North America and internationally raised its full-year guidance for the third quarter. Recently hired CEO, Peter Stern, highlighted four objectives on an analyst call for engaging current and new members to fuel growth.
EXEC: Saucony is the New Darling for Wolverine Worldwide as Sales Jump 30 Percent in Q1
The Saucony brand is clearly the new darling at its parent company in Grand Rapids, Michigan, delivering revenue growth of 31.1 percent in constant-currency terms in Q1, but is also gaining steam in China, where the licensee there reported 40 percent growth.
Import Cargo Levels Expected to See First Year-Over-Year Drop Since 2023
Import cargo at the nation’s major container ports is expected to see its first year-over-year decline in over a year and a half this month as the effect of tariffs imposed by the administration on the supply chain increases, according to the Global Port Tracker report released by the National Retail Federation and Hackett Associates.
EXEC: Merrell Parent’s CEO Lays Out Q1 Results, Tariff Plans and Q2 Growth Estimates
Wolverine Worldwide first quarter revenue grew by over 5 percent on an ongoing basis and nearly 7 percent on a constant-currency basis, with the results driven by the company’s two biggest brands: Saucony and Merrell.
True Spec Golf Opens Second Chicago Location in Partnership with The Golf Practice
The boutique golf club fitter now has a second location in partnership with The Golf Practice, True Spec Chicago West. The company also partners with The Golf Practice, a golf training academy for kids and adults, at its North Shore location in Lisle.
Xponential Fitness NA System-Wide Sales Climb 18 Percent
Xponential Fitness Inc. reported North America system-wide sales climbed 18 percent in the first quarter with overall results in line with expectations. The fitness boutique owner lowered its guidance on global net new studio openings for the year but reaffirmed its guidance on system-wide sales, total revenue, and adjusted EBITDA.
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