SGB Executive Outdoor

EXEC: Boot Barn Cuts Q3 and Full Year Outlook as Retail Turns Sour
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.

EXEC: Vista Fine-Tunes New Structure, Leadership for Revelyst and Ammo Company
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.

EXEC: Canada Goose Shares Fall to All-Time Low on Luxury Slowdown, Weak Outlook
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.

EXEC: Fenix Outdoor Had a Great Q3 – Then September Arrived
The parent company of the Fjällräven, Royal Robbins, Hanwag and Tierra brands said Q3 started well, with “nice growth” in its Retail businesses; the Brands and Wholesale businesses had recovered and direct orders increased in the period. Then September’s heat hit.

EXEC: VF’s Turnaround Plan to Focus on Vans, the Americas, Debt and Cost Structure
New company CEO Bracken Darrell said the U.S. is not working well. He noted that the company’s innovation engine has historically been strong but had drifted downward over the past few years. He said employees still love the brands and business, but morale was hurt by poor performance. He also said costs and debt were too high, and there were no sacred cows in the turnaround effort. Vans was the first to see change.

EXEC: EMS and Bob’s Stores Look to Reignite Growth
In May 2022, GoDigital Media Group acquired Eastern Mountain Sportsand Bob’s Stores for $70 million in cash. SGB Executive talked with Jason Peterson, GoDigital’s CEO, and Dave Barton, president and CEO, Bob’s Stores and EMS, about how the companies is repositioning the banner for growth.

EXEC: Thule’s Profits Bounce Back in Third Quarter
Thule Group reported a strong recovery in earnings in the third quarter as sales rose 8.0 percent. Sales in the North American region decreased 15 percent on a currency-neutral basis.

EXEC: Columbia Sportswear Sees Rocky Road Ahead for Wholesale Business
The company is forecasting a low-double-digit percent decline in wholesale net sales in first half 2024. The company added that it expects the wholesale net sales decline will be partially offset by continued growth in the global DTC businesses.

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.