SGB Executive Outdoor
New CEO Chris Hufnagel said WWW continues to reshape its portfolio, reduce inventory and redesign the company to become consumer-obsessed brand builders, focused squarely on building compelling products and telling amazing stories.
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson AB, reported that net sales increased 5 percent (+1 percent currency-neutral) to SEK 2,337.0 million, but sales would declined had it not been for sales from the acquired outdoor gear brand Tenson.
Clarus Corp. reported that Black Diamond’s sales improved sequentially from the second quarter and were down modestly in the third quarter as the North American region showed signs of stabilization to offset softness in its European business.
Mondelez International reported that Clif Bar delivered another quarter of double-digit growth and improved profitability in the third quarter ended September 30. Its other snack bar brands, Grenade and Perfect Snacks, also delivered double-digit gains.
The BRC reported that total UK retail sales increased 2.5 percent in October. The number was said to be below the three-month average growth of 3.1 percent and the 12-month average growth of 4.2 percent as reported by the BRC.
Fox Factory’s plans to acquire Marucci Sports, the maker of baseball bats and gloves, for $572.0 million has drawn skepticism from Wall Street analysts concerned about the timing given the company’s struggles and how the acquisition fits alongside its core suspension components businesses.
Wall Street brokerages largely initiated Birkenstock Holding with their top ratings, pointing to a likely boost from the German sandal maker’s loyalty with consumers, expansion into untapped categories, channels and geographies, and recent investments to increase capacity.
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.
Brand aggregator Compass Diversified saw Q3 sales decline 25 percent at BOA, 16 percent at Primaloft and fall 28 percent at Velocity Outdoor, while revenues grew 13 percent at Marucci Sports and 7 percent at 5.11. The company reported it was selling Marucci.
Fiscal Q2 retail store same-store sales declined 3.8 percent and e-commerce same-store sales declined 11.7 percent year-over-year. Comps were said to be in line with expectations through August, but September experienced softer-than-expected results and that trend reportedly continued into October.
Vista Outdoor took the opportunity Thursday morning to update the market on the progress and process of the sale of the ammo segment and provide an opportunity for the new leadership of the two businesses to walk through the latest quarter.
Shares of Canada Goose, Inc. reached an all-time low of $9.81 in over-the-counter trading as the outerwear maker axed its outlook for the year amid concerns over luxury spending, China’s recovery and warm weather.