SGB Executive Outdoor
EXEC: Xtep Intl Divests K-Swiss Brand to Focus on Merrell and Saucony in China
The move is designed to carve out the consistently underperforming segment from Xtep’s portfolio, allowing the company to concentrate its resources on developing its highly profitable brands – core Xtep brand, Saucony, and Merrell.
EXEC: Solo Brands CEO Outlines Early Progress on Turnaround Plan
Solo Brands, Inc. reported first-quarter sales and adjusted EBITDA topped expectations and noted progress is being made in repositioning its brands for growth. On an analyst call, Chris Metz, CEO, said Solo Stove saw improving DTC trends while Chubbies benefited from the early arrival of a shorts campaign.
EXEC: Yeti Shares Jump as Q1 ProfIts and Revenue Fly Past Estimates
Shares of Yeti, Inc. jumped about 11 percent Thursday after the company reported that lower freight and product costs drove first-quarter earnings well above Wall Street targets, leading to raised EPS guidance for the year. Sales grew by double-digits for the second consecutive quarter.
EXEC: Vista Outdoor Sees Another Tough Year Ahead
Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.
EXEC: Topgolf Callaway CEO Eyes Sales Pickup for Golf Businesses in Back Half
Topgolf Callaway Brands reduced its sales outlook for the year due to weakness at Jack Wolfskin and currency headwinds seen in the first quarter, but officials on an analyst call said that overall profitability came in significantly better than expected and its Topgolf and Golf Equipment segments are both positioned to accelerate growth in the second half.
EXEC: Sportchek, Mark’s and Helly Hansen all Post Q1 Declines for Parent CTC
Helly Hansen sales, which covers the international wholesale and retail businesses that operate under the Helly Hansen and Musto names and trademarks, were down 7.8 percent year-over-year in Q1 to C$192.2 million.
EXEC: Wolverine Worldwide CEO Outlines Transformation Progress To-Date
The company is beginning to see sequential improvement in its selling trends and that is said providing a level of confidence that the developed strategies and tactics are beginning to gain traction.
EXEC: Black Diamond Returns to U.S. Growth in Q1, Posting DD Gain as Inventory Clears
By fall of 2025, all of our apparel and packs will be PFAS free, but there will likely be some residual PFAS inventory to clear in the first half of next year. BDE also made to exit the ski bindings business in the first quarter.
EXEC: BOA Fuels CODI’s Q1 Branded Consumer Group; Primaloft Sees Order Growth
BOA grew revenues and adjusted EBITDA by 13 percent and 15 percent, respectively in the first quarter of 2024. Bookings outpaced revenue growth, which supports expectations of a strong 2024.
EXEC: Fenix Outdoor Sees Q1 Sales Decline, but DTC Shines
Brands segments, which includes Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor, had sales of €45.2 million in the first quarter, falling 14.9 percent from €53.1 million in the prior-year first quarter.
EXEC: Big 5 CEO Details Q1 Challenges; Offers Tepid Outlook for Near Term
The retailer has continued to feel the effects from the ongoing macro headwinds that are impacting consumer discretionary spending in the second quarter-to-date as same-store sales are running down despite a benefit from an extra day due to the Easter shift.
EXEC: REI Co-Op Sales Ticked Lower in 2023; Loss Widens
REI reported that three factors largely drove the loss: its commitment to continue investing in hourly employee pay, its commitment to providing a member reward and a $169 million non-cash valuation allowance against its deferred tax assets.
EXEC: Adidas Swings to Q1 Profit as DTC Drives Top-Line Growth
Footwear revenues grew 13 percent in Q1, said to be driven by the strong brand momentum, particularly in the Originals and Football categories, and Apparel sales were up 2 percent in the period. Accessories grew 1 percent.
EXEC: Velo Shuttering Colorado Cyclist and Planet Cyclery, Running Liquidation Sales
B. Riley is facilitating the total liquidation of Planet Cyclery and Colorado Cyclist’s inventory, in connection with the executed General Assignment for the Benefit of Creditors (ABC) of Velo.
EXEC: Thule Gets Shot in the Arm from Resurgent Bike Business in Q1
In the Americas, the recovery of the cycling market boosted bike-related products sales, but Packs, Bags & Luggage category sales declined due to “significantly lower” sales of legacy products that are phasing out gradually.
