SGB Executive

A global study from Signa Sports United, Europe’s sports commerce platform, and Boston Consulting Group (BCG) predicts tailwinds from COVID-19 will accelerate sports participation rates in the years ahead and drive sports retail revenues at twice the pace of global GDP. The study predicted strong growth prospects for “online category champions” and e-commerce overall.

As COVID-19 cases decline and vaccination rates climb, Fleet Feet is positioned to benefit from the return of races to build on the momentum the sport of running gained over the last year. Joey Pointer, CEO and president, talks about Fleet Feet’s battle plan to manage the pandemic and the outlook for the sport of running and Fleet Feet.

Wedbush on Monday raised its price target on Dick’s Sporting Goods from $85 to $97 on the investment firm’s belief that sales trends have accelerated since the company’s 4Q20 earnings report.

Canadian Tire Corp. Ltd. reported first-quarter sales grew 7.2 percent at its SportChek segment with gains held back by pandemic-related store closures. Same-store sales were up 18.7 percent. Gregory Craig, EVP and CFO, said, “With the early arrival of spring, we saw record sales in cycling, as well as strong demand in fitness-related categories, such as athletic footwear and kid’s apparel.”

The Top National stories and the Latest headlines across the Active Lifestyle Market for the week of April 26, 2021 covered in the SGB Updates and delivered to your inbox every business day. This week’s Ambassador Athlete is Lauren Spaulding
Yeti sponsored athlete, Mother and “breaking records in Hawaiian open-ocean paddling, qualifying for, and competing in the Olympics.

Boosted by triple-digit e-commerce growth, Canada Goose Inc.’s revenues rose 33.7 percent in the fourth quarter ended on March 28. Officials predicted sales would climb 11 percent for the current fiscal year.

Yeti Holdings Inc. sales raised its guidance for earnings and sales for the year after reporting sales catapulted 42 percent in the first quarter ended April 3. Matt Reintjes, Yeti’s president and CEO, on a conference call with analysts. “At the heart of this performance is exceptional demand for the Yeti brand, including momentum across our global digital businesses, and the strength of sell-through at wholesale.”

Life Time, which owns and operates the Unbound Gravel, Leadville Race Series and the Bentonville Big Sugar NWA gravel events, is riding high with the news of another event, recently announcing the hosting of its first Rad Dirt Fest. SGB Executive caught up with marketing director Michelle Duffy for her spin on the new event.

Wolverine World Wide raised its guidance for 2021 as its two largest brands, Saucony and Merrell, both returned to robust sales growth in the first quarter, overall online growth accelerated and wholesale backlogs continued strong for the second half. Said Blake Krueger, chairman and CEO, “As we look to the rest of the year, demand for our brands is very strong.”

In April, several thousand pickleball players descended upon Naples, FL, to compete in the emerging sport’s pinnacle event, the U.S. Open Pickleball Championships. SGB Executive caught up with Franklin Sports President Adam Franklin, who was on hand at the event.

With double-digit growth across its Direct and Retail segment, Nautilus Inc. delivered record-breaking results for the second straight quarter to produce the highest revenue quarter in company’s 35-year history. Jim Barr, CEO, told analysts, “Results were driven by leveraging the continued strong demand for at-home fitness, along with the team’s impressive efforts to solve unprecedented challenges in global logistics, bringing supply much closer to matching demand.”

Callaway Golf Company President and CEO Chip Brewer talked a lot about exceeding expectations in all three business segments in the first quarter during a recent conference call with analysts but the company’s namesake golf equipment brand lost share in the period as the broader U.S. golf market outpaced the brand’s performance.

While snowpack levels are below average across much of the Western U.S., rafting outfitters are anticipating a solid season coming up as COVID-19 restrictions slowly ease and customers are craving a chance to get outside.

Clarus Corp. raised its annual sales targets for both Black Diamond Equipment and its Sierra/Barnes ammo segment as both businesses accelerated growth during the first quarter. Clarus officials said the company is benefiting from its ability to overcome supply chain challenges.

Delta Apparel achieved second-quarter sales growth of 12 percent with double-digit growth in both its Delta Group and Salt Life Group segments. Significant earnings expansion benefited from manufacturing efficiencies and cost control.