SGB Executive Apparel
Retail Disappoints In Duluth Trading’s Q3
Shares of Duluth Holdings Inc. tumbled $6.03, or 19.9 percent, to $24.33 Friday following the company’s mixed third-quarter results. Although the company’s revenue was up 27.4 percent to $106.7 million—which beat Wall Street’s target by $2 million—there is concern on the retail side.
Zumiez Boosted By Healthy Streetwear Trends
With a number of its streetwear labels riding strong popularity with teens, Zumiez Inc. reported earnings rose 16.0 percent in the third quarter ended November 3 to $13.8 million, or 55 cents per share, exceeding guidance calling for earnings in the range of 45 to 51 cents.
Genesco Sees U.S. Footwear Business Offset Lids’ Struggles
Boosted by a 9 percent comp gain at Journeys, Genesco Inc. reported its highest quarterly comparable sales increase in more than 2.5 years. Adjusted earnings easily topped Wall Street’s targets. Lids continues to face weak headwear trends and the sales exploration of the business is taking longer than anticipated.
Run Specialty Re-Finds Its Stride
With a spurt of innovation, a healthy shake-out of stores, and a number of nimble adjustments to the changing retail landscape, run specialty is back in growth mode, according to participants at last week’s The Running Event in Austin.
Behind The Deal: How Callaway Aced The Jack Wolfskin Acquisition
Anyone who looks beyond the surface of Callaway Golf Co.’s agreement to acquire Jack Wolfskin for $476 million will see that reducing it to the simplistic “golf company buys outdoor brand” doesn’t capture the depth of the deal. The acquisition makes sense on multiple levels for both companies amid the blurring of channels, product lines and even consumer habits.
Fjallraven North America’s Nathan Dopp Shares Brand Outlook
Nathan Dopp, deputy CEO and president of the Americas for Fjallraven North America, spoke with SGB at last month’s Outdoor Retailer Winter Market in Denver, CO, where he shared what’s on tap for the brand in 2019 and beyond.
J.P. Morgan Turns Bullish On Nike’s North American Momentum
J.P. Morgan raised its price target on Nike Inc. to $85 from $81 as the investment firm has grown more convinced that Nike’s momentum in North America is accelerating. Based on its own recent fieldwork, J.P. Morgan raised its North America revenue estimate to 9 percent growth for Nike’s second quarter ended November 30.
Tariff War Far From Over
President Donald Trump and Chinese President Xi Jinping agreed Saturday to a temporary trade cease-fire to allow time for more negotiations but trade experts are doubtful that 90 days will be enough time to resolve the thorny and complicated issues that divide the two countries.
November M&A Roundup: Big Outdoor Deals Bookend Busy Month
Two large acquisitions in the outdoor space bookended November—Canada Goose bought Baffin to kick off the month and Callaway bought Jack Wolfskin to close it—while a flurry of M&A activity occurred in the days between.
SFIA Seminar: Industry Playing It Safe
On a webinar last week providing an update on the state of the sporting goods industry, Tom Cove, SFIA’s president and CEO, said that many of the industry’s players appear to be fixated on protecting their market share somewhat at the expense of pursuing growth opportunities. While this reflects an industry recovering from a string of bankruptcies, he lamented that the cautious stance may be holding back the industry’s overall growth.
Aisle Talk Week of November 26
Top headlines from the active lifestyle industry you may have missed this week, including analysis from The Running Event (TRE), which shows that the industry is flying high once again after a couple of years of declining sales in the run specialty channel.
Tilly’s Stock Takes Hit On Missed Guidance
Shares of Tilly’s tumbled $3.22, or 21.1 percent, to $12.04 on Thursday after the action sports retailer reported earnings and sales that landed at the lower end of guidance. EPS guidance for the current quarter was also lower than planned.
Dick’s Top-Line Struggles Continue
Dick’s Sporting Goods Inc. increased its 2018 earnings guidance for a third consecutive quarter as earnings easily beat Wall Street’s targets, thanks to stringent expense controls. Sales, however, came in lower than Wall Street’s targets due to the continued drag from hunt and activity trackers categories, weakness at Under Armour and flat footwear comps.
Sportsman’s Warehouse Shares Rise After Mixed Q3
Shares of Sportsman’s Warehouse Holdings Inc. were up 23 cents, or 4.9 percent, at market close Wednesday after the company posted mixed performance for the third quarter despite numerous headwinds, most notably weather-related.
Hibbett Still Upbeat On Holiday Despite Q3 Miss
Hibbett Sports Inc. slightly lowered its full-year earnings guidance after reporting third-quarter earnings that just missed Wall Street’s targets. But e-commerce continues to outperform and Hibbett officials are hopeful footwear growth will accelerate in th fourth quarter promising offerings from Nike, Adidas and a number of smaller brands. Apparel, helped by the addition of Champion and Fila, is expected to continue to see robust growth.
