SGB Executive Outdoor
EXEC: Footwear Brands Are Ramping Up Factory Orders
Yue Yuen Industrial reported that its footwear manufacturing segment revenue posted 12.5 percent growth in January 2024, a big turnaround from the 18.4 percent decline in its footwear manufacturing segment for full year 2023.
EXEC: Sportchek, Mark’s and Helly Hansen all Down in Q4; Only Helly Up for Year
Canadian Tire’s SportChek segment, which includes the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, and Hockey Experts retail brands, saw comparable sales in the fourth quarter decline 6.4 percent.
EXEC: Brands Act Fast on PFAS Changes as EPA Proposes New National Rules
California-based Liberated said this week it deployed an initial assessment of its Spyder products resulting in a multiple-season plan to phase out PFAS from its branded skiwear, joining other brands making the hard choice in 2024.
EXEC: Shimano Forecasts 2024 Double-Digit Sales and Profit Decline
Fiscal full-year 2023 net sales decreased 24.6 percent from the prior year to ¥474.36 billion. Operating income decreased 50.5 percent to ¥83.65 billion, and net income attributable to owners of the parent company decreased 52.3 percent to ¥61.14 billion.
EXEC: Shimano Inc. Confirms California Lawsuit Plaintiffs Seek Class Action Status
The lawsuit was filed in the U.S. District Court in California against its subsidiary, Shimano North America Holding, Inc. as well as the three bicycle manufacturers – Specialized Bicycle Components, Inc., Trek Bicycle Corporation and Giant Bicycle, Inc.
EXEC: Thule Group Swings to Fourth Quarter Profit Despite Sales Decline
Net sales for the fourth quarter were down 5.6 percent in currency-neutral terms. The company said the expected sales decrease in RV Products, driven by a slower period for the RV industry, had a significant negative impact on the quarter.
EXEC: Fledgling Activewear Brand Has a Less Than Perfect Moment in IPO Effort
Perfect Moment, whose PMNT ticker symbol would be better for a Buy Now, Pay Later company than an active apparel company, fell throughout the day after Thursday’s debut, close down 13.3 percent to $5.20 at the close.
EXEC: Mips Sees Bike Helmet Market Starting to Recover
The Swedish helmet technology provider saw sales declines moderate quite a bit in the fourth quarter as the company sees the bicycle helmet category was posting growth again but upside there could not overcome the sharp decline in the motorcycle business.
EXEC: Ahead, Craft, Cutter & Buck Parent Posts Sales and Profit Declines in Q4
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that fourth quarter net sales declined 3 percent to SEK 2,735.9 million from SEK 2,815.1 million in Q4 last year.
EXEC: VF Sees The North Face Fiscal Q3 Results “Worse Than Expectations”
Global revenue for The North Face was down 10 percent (-11 percent CC) to $1.19 billion in the quarter. Excluding a wholesale shipment timing shift, The North Face’s revenue would have reportedly declined in the mid-single-digits. DTC was up in mid-single-digits for Q3.
EXEC: VF Execs Outline Progress Against Transformation Plan, Brand and Region Review
The big jobs ahead are based on fixing the overall Americas business and delivering a turnaround in the Vans business. The key objective of the Reinvent program involves cutting costs and building the balance, which is reportedly both well underway.
Descente, Ltd. Posts Fiscal YTD Sales Increase Despite Golfwear Decline
Gains from the incorporation of Le Coq Sportif (Ningbo) Co. Ltd. and increased sales in the athleticwear category were larger than the decrease in sales in the golfwear category and the termination of the Marmot license in Japan in December 2022.
EXEC: Deckers Brands CEO Details the Big Fiscal Q3 for Hoka and Ugg
Ugg posted its first billion-dollar quarter, Hoka posted 22 percent growth in the middle of winter and the company boasted a 50 basis-point improvement in gross margins to fuel a 44 percent increase in diluted earnings per share.
EXEC: Columbia Cutting 3 to 5 Percent of U.S. HQ Staff on Lowered 2024 Outlook
Bright spots for 2023 included a 27 percent reduction in inventory that helped the company generate over $600 million in operating cash flows for the year, but a sick U.S. market for the Columbia brand and weaker Sorel and Prana performances continue to drag on the business.
EXEC: Vista Outdoor Reaffirms Guidance; Work Toward Split Continues
CFO Andy Keegan said the company expects the separation of its business to jump-start the “compelling vision” for Revelyst, the former Outdoor Products segment, by capitalizing its balance sheet with cash to accelerate its capital allocation strategy.
