SGB Executive Footwear
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.
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.
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.”
VF Corp. Execs Talk Denver Relocation, Vans Growth & Other Timely Topics
VF Corp. CEO Steve Rendle and CFO Scott Roe spoke with SGB last week about five hot topics—the forthcoming move to Denver, VF’s commitment to becoming a purpose-led company, Vans’ five-year journey to $5 billion, growth drivers at The North Face and upside at two smaller brands—Icebreaker and Smartwool. Here’s what they shared.
Retail Reports Roundup
Retail studies arrived on the online benefit to having physical stores, holiday spending forecasts on tech gadgets and seasonal celebrations, the challenges facing online holiday delivery, the positive payback from creating emotional connections and responding to online reviews.
Columbia Sportswear Notches Strongest Earnings In Company History
Citing the benefits of the company’s “brand-led, consumer-focused” Project CONNECT initiative, Columbia Sportswear reported earnings topped Wall Street targets for the seventh straight quarter, lifted its guidance for the year and provided an upbeat outlook for 2019.
Deckers Crushes Quarterly EPS Targets On Meatier Margins
Deckers Brands reported earnings in the company’s second quarter ended September 30 that arrived far ahead of company guidance due to improving gross margins and lower than planned SG&A expenses. Among brands, Hoka One One delivered another quarter of robust sell-throughs while Ugg’s primed for strong holiday selling.
Aisle Talk Week of October 22
Top headlines from the active lifestyle industry you may have missed this week, including Yeti’s lukewarm initial public offering debut.
Puma Sees Strong Start In Return To Basketball
Puma raised the company’s outlook for full-year sales and operating profit as the company reported strong sales growth in the third quarter in the Americas and Asia. Puma’s first basketball shoe in 20 years has been well-received, but Puma officials indicated there’s more work to do. On a conference call with journalists, Bjørn Gulden, CEO, said, ”The father will remember that Puma was in basketball. The son doesn’t.”
Shimano’s Q3 Profits Sink On Cycling Weakness
Shimano Group reported operating income fell 15.4 percent in the third quarter ended September 30 due to lower revenues and earnings in the company’s cycling division. In North America, sales of Bicycle Components in the nine months at retail were “on par with an average year and distributor inventories remained at an appropriate level.”
Rocky Brands Rides Wholesale & Retail Growth To Strong Q3
Rocky Brands Inc. topped Wall Street’s earnings and revenue estimates in the third quarter, as the Nelsonville, OH-based company again rode a healthy balance across the company’s portfolio brands and sales channels to more than double net income from the same quarter a year ago.
Vans, Adidas And Lululemon Finding Teen Love
Vans became the fastest-growing brand in Piper Jaffray’s semi-annual Taking Stock With Teens survey while overtaking Nike as the No. 1 footwear brand among upper-income females. But Nike/Jordan improved mindshare as “top trend” and positive momentum with teens was also seen for Adidas, Lululemon, Champion, Crocs and several other brands in the active lifestyle space.
Vans Begins Journey To $5B In Style By Driving VF Corp.’s Strong Q2
The path that Vans will travel en route to $5 billion in annual revenue by 2023 is sure to be strewn with economic headwinds and market deviations along the way, but the action lifestyle brand is kicking off its quest toward that ambitious destination in style. Vans revenue grew 26 percent in the second quarter ended September 29, boosting parent company VF Corp.’s revenue 15 percent to $3.9 billion for the period.
