SGB Executive

Winchester’s sales increased 16.8 percent to $192.6 million for the second quarter, compared to $164.9 million in the second quarter 2019.

Benefitting as people spend time outdoors during the pandemic, Yeti Inc. reported earnings and sales in the second quarter that handily topped Wall Street targets. Said Matt Reintjes, president and CEO, “Yeti’s product performance, durability and versatility are key as customers rely on, and invest in, brands that help them enjoy outdoor activities.”

Adidas said it expects revenue to recover in the third quarter as stores continue to reopen and digital sales thrive after the coronavirus lockdowns pushed the company into a net loss in the second quarter.

“I think you’re seeing new entrants into the sport and we’re also benefiting from the fact that there is just so much demand against the bikes that are available, but that also pushes people into higher premium-level bikes that may have been looking at lower-level bikes prior”, said Company CEO Mike Dennison

Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, said that after a brutal first two months of the second quarter due to store and golf-course lockdowns, sales bounced back strongly in June, accelerated in July, and are expected to continue strong through the third quarter. Said David Maher, Acushnet’s president and CEO, on a conference call with analysts, “The game and business of golf have been incredibly resilient.”

Wolverine Worldwide’s sales in the second quarter fell 39 percent but came in significantly better than internal expectations due to a 96 percent hike in online sales and strong trends towards the end of the quarter around outdoor, run and work. Said Blake Krueger, chairman, CEO and president, “The company’s performance significantly exceeded our expectations entering the quarter on virtually every financial metric.”

Planet Fitness Inc. only saw a modest decline in membership across its open facilities through the end of its June quarter as new member “joins” for the quarter outpaced the rate in the year-ago quarter.

Company President and CEO James Conroy opened the call for the fiscal first quarter saying that they have seen “a strong correlation, both up and down, between the number of positive COVID-19 cases in specific geographies and the virus impact on consumer sentiment and retail store traffic.”

With a lack of big earnings stories early in the month, the most-read SGB Media business-to-business stories in July tended to be heavily wighted toward new hires and jobs across the active lifestyle industry.

“This is probably the strongest level of demand that I’ve seen,” said Chris Killoy, CEO at Sturm Ruger & Co., when asked on the company’s second-quarter conference call about the recent surge in demand for firearms that’s been fueled by anxieties over COVID-19 and civil unrest.

Emerald Holding Inc., the parent of Outdoor Retailer, Surf Expo and other trade shows, saw second-quarter revenues collapse as it was forced to cancel 60 events and postpone 14 others due to COVID-19. But company officials said it’s making “significant progress” with an ongoing organizational restructure and its virtual events are seeing a strong response.

Newell Brands said sales at its Outdoor & Recreation segment, which includes Coleman and Marmot, fell 20.3 percent in the second quarter but Coleman’s sales are reviving since June as interest in camping has taken off. Two industry executives, Jim Pisani and Bill Kirchner, are helping guide the segment’s turnaround.

Johnson Outdoors Inc. reported steep declines in profits and revenues in its fiscal third quarter ended June 26 but indicated orders have increased significantly in May and June in its Fishing, Watercraft Recreation and Camping segments as quarantined-consumers head outdoors for recreation. Helen Johnson-Leipold, chairman and CEO, said on a conference call with analysts, “At this time, we are working overtime to keep pace with continuing demand in all three of these businesses.”

VF Corp. reported results for the first quarter ended June 30 that were significantly sidetracked by COVID-19 but still ahead of internal expectations due to strength in international and digital. The highlight of the challenging quarter was the widespread digital momentum that drove both sales and consumer engagement.

Under Armour Inc.’s revenues tumbled 41 percent in the second quarter, but significant declines are also expected in the second half – in the range of 20-to-25 percent – due to uncertain consumer spending, inventory constraints and a likely promotional climate.