SGB Executive

Stifel upgraded its rating on Under Armour to “Buy” from “Hold” due to the investment firm’s increased confidence in the company’s expense-structure leverage and ability to achieve more than mid-single-digit EBIT margin on a “higher quality” revenue base.

Camping World Holdings Inc. delivered a significantly better than expected third-quarter and is facing some inventory constraints as RVs continue to be looked on as a safe way to travel and explore the outdoors during a pandemic. Marcus Lemonis, chairman and CEO, estimated that it may take until 2021 for supply of RVs to catch up to demand.

Emerald Holding’s results in the third quarter were decimated by the wide-scale cancellation of trade show events, but Brian Field, interim president and CEO, expressed optimism that live face-to-face events will begin to reemerge in 2021.

aking advantage of a two-foot early season snowstorm, Wolf Creek Ski area won this year’s race as the country’s first resort to open its slopes for the 2020/21 ski season, firing up three of its nine chairlifts and 600 acres of skiing and riding at 9 a.m. on Wednesday, October 28.

Newell Brands’ Outdoor & Recreation segment returned to core sales growth in the third quarter due to strong demand for camping gear during the pandemic, Said Ravi Saligram, Newell’s president and CEO, on a conference call with analysts, “The rebound in outdoor activity we started to see at the end of Q2 has continued, especially in camping gear including tents, stoves, grills and shelters both in America and International.”

Skechers USA saw sequential improvement in its business in the third quarter as trends for work and school during the pandemic was seen to fit well within its product and brand assortment as consumers locked down and focused more on comfort.

Deckers Brands said Hoka One One’s sales surged 83.2 percent in the second quarter ended September 30 and the running brand is now on track to reach its milestone of $500 million in annual sales by fiscal year-end. Coupled with a strong recovery for Ugg, Deckers’ quarterly results far exceeded Wall Street’s targets. Officials, however, warned that inventory shortages could curb growth over the holiday quarter.

Under Armour reported third-quarter results that far exceeded expectations with the aid of strength in footwear and women’s, provided a rosier outlook for the holiday quarter and said it’s on track to deliver slightly positive EPS in 2021. New developments include plans to sell MyFitnessPal and exit certain undifferentiated wholesale distribution, primarily in North America, starting next year.

Columbia Sportswear Inc. saw a strong double-digit decline in revenues in the third quarter and resulting net earnings were nearly cut in half versus the year-ago comparable quarter but company President and CEO Tim Boyle was bullish on the company’s return to solid growth trends in 2021.

Boot Barn Inc. made considerable sequential progress in its fiscal second quarter from its fiscal first quarter results as the trend in comps, net sales and earnings all saw improvement. Consolidated same-store sales results improved throughout the quarter, turning positive in September and continuing into October.

Sturm, Ruger & Company Inc.’s sales climbed 53.4 percent in the third quarter, accelerating on gains of 35.3 percent in the second quarter and 8.4 percent in the first. Ruger’s CEO Chris Killoy told analysts the company is increasingly confident that the firearms buying surge during the pandemic will pack long-term benefits for the firearms industry.

Compass Diversified Holdings (CODI) said Liberty Safe, Marucci, and Velocity Outdoor all delivered healthy double-digit growth in the third quarter. 5.11’s sales were flat, but its profitability significantly improved.

Powered by its Marine, Fitness and Outdoor segments, Garmin Ltd. reported sales rose 19 percent and adjusted earnings climbed 25.5 percent in the third quarter ended September 26. Garmin also updated its full-year guidance with an outlook well above Wall Street estimates.

Callaway Golf Co. reached an agreement to purchase the rest of driving-range operator Topgolf Entertainment Group in a move that will bring a company known for its clubs and golf balls into the fast-growing sports-entertainment business. Said Callaway’s CEO Chip Brewer told analysts, “This is a great day for the future of our two companies and the sport of golf.”