SGB Executive Outdoor
EXEC: Deckers Delivers Blowout Q2 as Hoka Takes Lead in U.S. Run Specialty
Deckers Brands hiked its annual guidance as results for its fiscal second quarter ended September 30 were boosted by an robust recovery at Ugg. However, Hoka’s momentum showed no signs of slowing down with Deckers’s officials telling analysts the brand has become the leading footwear seller in the U.S.-run specialty channel.
EXEC: Moncler S.p.A’s Q3 Sales Climb 7 Percent
Moncler S.p.A reported sales reached €669.7 million ($706 mm in the third quarter, up 7 percent on a currency-neutral basis compared with the same period of 2022. On a currency-neutral basis, Moncler Brand sales were up 9 percent while Stone Island sales were flat.
Mips Sales Pain Still Persists in Bike Helmets in Q3
Swedish helmet technology provider Mips saw sales declines moderate a bit in the third quarter from the 51 percent decline experienced in the second quarter, but the company acknowledged it was another soft quarter with the impact of inventory adjustments still being felt in the bike sub-category.
Super Retail Group Comps Up 2 Percent for 16-Week YTD Period
The Australia-based parent of the Rebel Sports, BCF Outdoor and Macpac outdoor retail chains, provided an update on its year-to-date performance at its annual general meeting on October 25 as it cycles against big increases last year.
Circana Delivers Muted Holiday Retail Outlook
Holiday spending is expected to come close to last year’s results but could fall short by as much as 2.5 percent during the traditional November and December shopping season, according to Circana’s annual Holiday Purchase Intentions study. The outlook was slightly improved when holiday sales falling in October are included.
Shimano’s YTD Sales Tumble 20 Percent on Cycling Weakness
Shimano, Inc.’s sales tumbled 19.8 percent in the nine months as sales in its Bicycle Components segment dropped 24.8 percent with the decline tied to high inventories in the IBD channel. The Japanese-based company nonetheless slightly raised its outlook for the year as orders in the back half weren’t as soft as expected.
VF Corp. Appoints Former Nike President to Board
VF Corp. appointed former Nike executive Trevor A. Edwards to the company’s Board of Directors, effective October 22. Edwards served as president of Nike, Inc. from 2013 until 2018.
Signa Sports Prepares for Insolvency Filings
Signa Sports United (SSU), which earlier last week confirmed that it had lost a major funding commitment from its parent company, said its subsidiary, Tennis-Point GmbH, had filed for insolvency and the overall company is preparing for insolvency proceedings in the coming days.
EXEC: Vista Outdoor’s Guidance Cut Surprises Wall Street
Analysts said Vista Outdoor’s agreement to sell its Sporting Products segment business to Czechoslovak Group (CSG) for $1.91 billion appeared largely in line with the businesses’ valuation. Vista’s 24 percent stock drop on Monday was attributed to Vista’s sharp guidance cut tied to the deteriorating Outdoor Products business.
VF Corp.’s Shares Jump on Activist Investor’s Move
Shares of VF Corp. jumped 14 percent on Tuesday after activist investor Engaged Capital reported that it had built a stake in the owner of Vans and The North Face and planned to push for changes, including steep cost cuts, divestitures of non-core assets and a board overhaul.
EXEC: Inside the Six-Year Growth Plan for Osprey, Hydro Flask Parent
At its Investor Day on Tuesday, Helen of Troy, the parent of Hydro Flask and Osprey, outlined an “Elevate for Growth” platform designed to annually expand sales between 3 percent and 4 percent and EPS by 10 percent or greater over the next six years.
EXEC: Adidas Ups Full-Year Guidance on Improved Preliminary Q3 Results
Adidas now expects full-year 2023 currency-neutral revenues to decline at a low-single-digit rate in 2023 compared to its previous forecast of a mid-single-digit decline. An operating loss of around €100 million is now forecast, compared to its previous estimates for a loss of €450 million for the year.
EXEC: Sports Direct Parent Acquires Top Germany Sports Retailer
Frasers Group plc, the parent company of UK-based sports retailer Sports Direct, entered into a binding agreement with Signa Retail Department Store Holding GmbH to acquire SportScheck, one of the top sports retailers in Germany.
EXEC: Vista Outdoor Cuts Fiscal Year Outlook After Q2 Weakness
Along with the sale of its Sporting Products business to Czechoslovak Group. (CSG), Vista Outdoor announced that it was slashing its full-year guidance, largely due to weakness at its Outdoor Products segment.
EXEC: Vista Outdoor to Sell Ammo Business to Czechoslovak Group
Vista Outdoor announced that it planned to sell its Sporting Products business to Czechoslovak Group. (CSG) for $1.91 billion, shifting from a planned spinoff of its Outdoor Products segment. Gary McArthur, interim CEO, said, “We believe this creates meaningful value for stockholders, and sets up both Sporting Products and Outdoor Products for long-term success.”
