SGB Executive Apparel
EXEC: VF CEO Not Ready to Predict When Growth Returns
With July 17 marking his one-year anniversary, Bracken Darrell, VF Corp’s president and CEO, cited a number of accomplishments under his tenure, including significantly reducing debt, inventories and costs on the company’s first-quarter analyst call. The sales decline in the latest quarter also moderated versus the prior quarter, but Darrell declined to predict when growth would turn positive.
EXEC: Puma Shares Down DD in Midday Trading as Q2 EBIT and Outlook Disappoint
Company CEO Arne Freundt said Puma “fully delivered” its outlook for the quarter and is on track to deliver on its outlook for the full year, but European analysts disagreed, sending shares lower on the DAX exchange.
EXEC: Vista Outdoor Sees Revelyst Turnaround Plan on Track
Eric Nyman, co-CEO of Vista and CEO of the Revelyst outdoor products business, insists Revelyst is on the road to recovery, forecasting sales trends will steadily improve and reaffirmed Vista’s target to double Revelyst’s standalone adjusted EBITDA in FY25.
EXEC: Descente Ltd Gets China and South Korea Lift on Yen Depreciation
Fiscal Q1 net sales increased by 1.2 percent year-over-year (YoY) to ¥27,482 million, due to the positive effect of the yen’s depreciation, strong sales of the Descente brand, and Umbro growth in South Korea.
EXEC: Titleist Sees Solid Q2 Golf Balls Gain but Clubs and Gear Drag on Results
Higher net sales in the U.S. were largely driven by an 8.5 percent increase in Titleist golf balls and 4.8 percent growth in FootJoy golf wear, partially offset by a 9.0 percent decrease in Titleist golf clubs sales.
EXEC: Black Diamond Making Progress with Repositioning Despite Top-Line Weakness
Black Diamond’s sales again fell sharply in the second quarter but management of its parent, Clarus Corp., told analysts the brand is making progress rationalizing its product lines under a “fewer, bigger, better” emphasis and reducing promotional pressures amid the continued slow stabilization of the North American wholesale channel. Neil Fiske, president, Black Diamond Equipment, still cautioned that the overall outdoor marketplace won’t fully recover until 2025.
EXEC: BOA and PrimaLoft Deliver Healthy Double-Digit Growth in Q2 for CODI
Citing the benefits of inventories rebalancing in the marketplace, Compass Diversified (CODI) reported BOA’s sales surged 42.1 percent in the second quarter while PrimaLoft returned to growth with a 14 percent gain. Said Elias Sabo, CODI’s CEO, on a call with analysts. “We believe both businesses are positioned for a strong back half of the year.”
Sebago, Kappa Parent Sees Strong Double-Digit H1 Declines in Americas and Asia
The parent of the Sebago, Superga, Briko, Kappa, K-Way, Jesus Jeans, and Sabelt brands posted 2024 first half revenues of €173.9 million, a 3.4 percent decline compared to €180.0 million in H1 2023.
EXEC: Adidas CEO Sets N.A. Growth Focus on Being More American in America
Adidas Group reported underlying sales in North America increased 2 percent on a currency-neutral basis in Q2r and the region is expected to grow in the second half as well. CEO Bjørn Gulden said the focus has to be on being “more American in America” to further accelerate gains in the region.
EXEC: Nike Cuts Workforce but Doubles Down on Endorsement Deals
Employee headcount at Nike’s Beaverton HQ declined 6.1 percent to 10,700 at the close of the company’s fiscal year, which ended May 31, but endorsement deals due within a year surged 31 percent year-over-year.
Vista Outdoor Cancels CSG Deal Vote Again; Will Look at Other Options
Adjourned its shareholder vote on the sale of the Kinetic Group, its ammunition business, to the Czechoslovak Group (CSG) to pursue a more extensive review of “strategic alternatives,” including a sale of its Revelyst outdoor products business and selling the company outright to MNC Capital.
EXEC: Investor Pressure Builds on Vista Outdoor Ahead of Ammo Sale Vote
Investor groups from the two sides of the vote scheduled for July 27 have been making their preferences known, and analysts and advisors have weighed in with their views. After rescheduling a vote three times, tomorrow is V-Day.
EXEC: Newell Outdoor & Rec Segment to See H2 Upside Under New CEO
The company’s Outdoor & Recreation segment remains the firm’s “weakest” division from a profitability and sales perspective and “most in need of a turnaround” and new leadership in the segment are now in place in Atlanta.
EXEC: Columbia Sportswear Sees Return to Wholesale Growth in Spring 2025
The home of the Columbia, Sorel, Mountain Hardwear and Prana brands reported that early indications from the spring ’25 Wholesale order book suggests a return to growth in the Wholesale business in the first half of ’25.
EXEC: Hoka DTC Drives Fiscal Q1 Growth; Dick’s and JD Sports Boost U.S. Wholesale
The brand saw accelerated DTC growth and continued strong wholesale gains helped drive a 29.7 percent jump in Hoka sales in fiscal Q1 ended June 30. Hoka’s parent company also called out the sales of the Sanuk business in July.
