SGB Executive

Riding strong double-digit growth in both its Shooting Sports and Outdoor Products segments, Vista Outdoor Inc. reported robust growth in the second quarter ended September 27, provided a bullish outlook for its holiday quarter and detailed how the newly-acquired Remington brand will support future growth.

Powered by strong growth at Saucony, improving trends at Merrell, its work brands, and explosive growth online overall, Wolverine Worldwide reported both earnings and sales topped expectations during its third quarter. Sales are expected to decline no more than 25 percent in the fourth quarter in part due to the timing of deliveries, but a strong return to growth is predicted for Q121.

Uncertainty has befuddled the snow sports industry’s major buying groups this season including how to connect its members with vendors. SGB Executive spoke with two of the largest buying groups: Nation’s Best Sports (NBS) and Winter Sports Market/Sports Specialists, Ltd. and SnowSports Merchandising Corp. about plans to run their buying shows this season.

Academy Sports & Outdoors received positive stock ratings across the board as the first wave of Wall Street reports recently arrived following the retailer’s IPO debut on October 2. Among the catalysts cited for the stock is the expected continuing payback from strategies initiated by the retailer’s revamped management team led by CEO Ken Hicks, the benefit of broad strength in sports and outdoor categories amid the pandemic, and ample room to expand e-commerce.

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.