SGB Executive

Boosted by strength at Black Diamond and ammunition businesses, Clarus Corp delivered another record quarter to close out a record-setting year of sales and earnings. The gains came despite a challenging supply chain environment. Clarus’ President John Walbrecht said, “We continue to be nimble and decisive at the brand level, which is critical in achieving this level of performance.”

Hibbett, Inc. said fourth-quarter comps were negatively affected by 10 percent in the footwear category and 5 percent overall due to delivery delays. However, officials are bullish on a return to robust growth in the second half of 2022 due to improving inventory levels and strengthening partnerships with major vendors, including Nike.

Athleta’s sales grew 26.2 percent in 2021 to $1.43 billion a year ago and are on track to reach $2 billion by 2023, officials from Gap Inc., Athleta’s parent, said on its fourth-quarter conference call. Sonia Syngal, Gap’s CEO, said Athleta is being “led by its digital dominance, including growth in the wellness space, now six months into the launch of AthletaWell.”

Shares of Smith & Wesson Brands Inc. are trading down about 16 percent in early-afternoon trading Friday after the company reported sales fell 31 percent in the third quarter ended January 31, well below analyst targets. President and CEO Mark Smith told analysts firearms’ demand has “cooled significantly from the height of the pandemic surge, returning to more normal levels throughout our entire Q3.”

Brooks surpassed $1 billion in annual sales for the first time in 2021, expanding 31 percent year-over-year after climbing 27 percent in 2020. Playing a critical role in driving that growth has been Dan Sheridan, who was recently promoted to President and will partner with CEO Jim Weber to drive the next phase of the company’s growth.

Rocky Brands reported fourth-quarter earnings that were nearly double Wall Street’s targets as sales ran up 93.4 percent. For the full year, adjusted net income jumped 40.9 percent on an 85.4 percent sales gain.

Big 5 Sporting Goods, Inc. forecasted a sharp decline in first-quarter results as the chain faces elevated pandemic demand in the year-ago period. However, Big 5 officials expect the improved margin rates seen over the last two years to continue.

Acushnet Holdings Corp., the parent of Titleist, Footjoy and KJUS, reported sales came in better-than-expected in the fourth quarter, jumped 33.2 percent overall for 2021, and are expected to expand around mid-single digits in 2022. David Maher, Acushnet’s president and CEO, told analysts that demand across product lines and regions continues to outpace pandemic-strained supply.

Kohl’s Inc. estimated that sales growth in the fourth quarter was impacted by approximately 400 basis points as a result of deteriorating supply chain disruption, but earnings topped expectations due to gross margin improvement. Kohl’s also provided upbeat revenue guidance for the current year with the benefit of Sephora in-store shop roll-outs, expected improved stock levels, and continued momentum across active categories.

Fox Factory Holding Corp. reported sales in its Specialty Sports Group bicycle components segment surged 46.7 percent in the fourth quarter despite continued supply chain constraints. Fox said it will take another nine months to 12 months to fully replenish inventory levels.

Shares of Foot Locker Inc. were trading down about 35 percent in mid-day trading Friday after the sneaker giant announced that a sharp reduction in allocations from Nike would likely result in a high-single-digit decline in comps in the current year. On a call with analysts, Dick Johnson, CEO, stressed his belief that Foot Locker will be better off in the long run by offering consumers a greater variety of brands.

Compass Diversified Holdings (CODI) said sales in the fourth quarter grew 55 percent at BOA and surged 71 percent at Marucci Sports while declining 5 percent at its Velocity Outdoor subsidiary. 5.11’s sales grew 4 percent, but the big news was that the tactical gear maker postponed its IPO.

Allbirds, Inc. topped market estimates for quarterly revenue as consumers splurged on its eco-friendly shoes during the holiday season. Revenue jumped 23 percent in the fourth quarter and 27 percent in the year while forecasts call for sales to expand in the range of 28 percent to 32 percent in the current year.

Sturm, Ruger & Co. reported a 0.8 percent year-over-year decline in sales in the fourth quarter, marking the first quarterly decline since Q419. The decline, in part, reflects challenging comparisons against the year-ago period. Ruger’s CEO Chris Killoy said demand for firearms remains solid.

Wolverine Worldwide said Merrell lost at least $50 million in sales in the fourth quarter due to the fallout from the Vietnam factory closures and supply chain challenges are expected to continue to limit growth for Merrell and Saucony in the early part of 2022. However, actions taken to improve supply capacity are set to drive 15 percent to 18 percent overall growth in 2022.