SGB Executive Outdoor
Vista Outdoor Shares Soar As Cost Savings Boost Earnings
Shares of Vista Outdoor Inc. rose $1.47, or 11.8 percent, at market close Thursday after the company’s earnings report revealed successful cost-cutting measures and highlighted both the recent divestiture of its eyewear brands and continued pursuit of shedding its firearms brands.
5.11 Shines For CODI In Q3 But Outlook Tempered As Investments Mount
Compass Diversified Holdings CEO Elias Sabo called tactical gear brand 5.11 a “significant driver” for CODI in the third quarter as 10.1 percent revenue growth surpassed the parent company’s expectations, but he also warned that heavy investments will take a toll on the brand’s earnings in the short term.
Under Armour’s Shares Pop As Transformation Gains Traction
Shares of Under Armour shot up $5.04, or 27.7 percent, to $23.23 Tuesday, the stock’s highest one-day gain since 2008, as the company reported third-quarter earnings that more than doubled Wall Street’s consensus expectations. On a conference call with analysts, Kevin Plank, CEO, described the performance as “another solid proof point that our multiyear journey toward becoming a more operationally excellent company is on track.”
VF Corp. Execs Talk Denver Relocation, Vans Growth & Other Timely Topics
VF Corp. CEO Steve Rendle and CFO Scott Roe spoke with SGB last week about five hot topics—the forthcoming move to Denver, VF’s commitment to becoming a purpose-led company, Vans’ five-year journey to $5 billion, growth drivers at The North Face and upside at two smaller brands—Icebreaker and Smartwool. Here’s what they shared.
Retail Reports Roundup
Retail studies arrived on the online benefit to having physical stores, holiday spending forecasts on tech gadgets and seasonal celebrations, the challenges facing online holiday delivery, the positive payback from creating emotional connections and responding to online reviews.
Columbia Sportswear Notches Strongest Earnings In Company History
Citing the benefits of the company’s “brand-led, consumer-focused” Project CONNECT initiative, Columbia Sportswear reported earnings topped Wall Street targets for the seventh straight quarter, lifted its guidance for the year and provided an upbeat outlook for 2019.
Deckers Crushes Quarterly EPS Targets On Meatier Margins
Deckers Brands reported earnings in the company’s second quarter ended September 30 that arrived far ahead of company guidance due to improving gross margins and lower than planned SG&A expenses. Among brands, Hoka One One delivered another quarter of robust sell-throughs while Ugg’s primed for strong holiday selling.
Aisle Talk Week of October 22
Top headlines from the active lifestyle industry you may have missed this week, including Yeti’s lukewarm initial public offering debut.
Outdoor Drives Amer Sports In Q3 As Company Stays Quiet On Anta Bid
Amer Sports made it clear Thursday that the company wouldn’t discuss Anta Sports’ acquisition bid, leaving the company to focus solely on Amer’s solid third-quarter performance, especially in the company’s outdoor segment. Amer Sports reported earnings in the third quarter ended September 30 increased 47 percent while sales grew 8.5 percent.
Shimano’s Q3 Profits Sink On Cycling Weakness
Shimano Group reported operating income fell 15.4 percent in the third quarter ended September 30 due to lower revenues and earnings in the company’s cycling division. In North America, sales of Bicycle Components in the nine months at retail were “on par with an average year and distributor inventories remained at an appropriate level.”
Behind The Deal: Hayes Fills Portfolio Gap With Reynolds Acquisition
SGB goes behind the scenes of Hayes Performance Systems’ acquisition of carbon wheel maker Reynolds Cycling LLC, a deal that closed on Tuesday and was announced on Wednesday. Darren Campbell of Hayes Bicycle Group and Scott Montgomery of Reynolds explain why uniting their companies made perfect business sense.
SGB Executive Q&A: PrimaLoft President & CEO Mike Joyce
PrimaLoft President and CEO Mike Joyce spoke with SGB about the company’s new synthetic insulation that is made from 100-percent recycled, biodegradable fibers. “We think this is a game changer,” he said, adding that “the technology will be a major revenue driver for us.” Our Q&A explains why.
Vans, Adidas And Lululemon Finding Teen Love
Vans became the fastest-growing brand in Piper Jaffray’s semi-annual Taking Stock With Teens survey while overtaking Nike as the No. 1 footwear brand among upper-income females. But Nike/Jordan improved mindshare as “top trend” and positive momentum with teens was also seen for Adidas, Lululemon, Champion, Crocs and several other brands in the active lifestyle space.
Vans Begins Journey To $5B In Style By Driving VF Corp.’s Strong Q2
The path that Vans will travel en route to $5 billion in annual revenue by 2023 is sure to be strewn with economic headwinds and market deviations along the way, but the action lifestyle brand is kicking off its quest toward that ambitious destination in style. Vans revenue grew 26 percent in the second quarter ended September 29, boosting parent company VF Corp.’s revenue 15 percent to $3.9 billion for the period.
The North Face Sees Lifestyle Offerings Driving Q2 Momentum
With continued over-sized growth for The North Face in the EMEA region and some improvement in the Americas in the second quarter due to strengthening demand for lifestyle apparel offerings, VF Corp. slightly raised the company’s sales outlook for the outdoor brand for the current fiscal year.
