Peloton Focuses On Subscriber Growth Over Profits
Peloton Interactive, in its first quarterly report since going public, reported a loss that was below Wall Street’s targets but revenues were better than expected due to a significant influx of new subscribers. John Foley, Peloton’s CEO, told analysts, “I believe if we pull back on growth we could be profitable tomorrow.”
Clarus Corp. Finds Black Diamond’s Momentum Can’t Offset Headwinds
Clarus Corp. reported another quarter of double-digit gains for its flagship Black Diamond brand but weakness at Sierra Bullets on top of the strengthening U.S. dollar and escalating trade war caused the company to cut its guidance for the full year.
Under Armour’s Q3 Progress Overshadowed By Federal Accounting Probe
Under Armour Inc. reported third-quarter earnings that exceeded expectations but shares fell about 19 percent on Monday as the company reduced FY19 revenue guidance and confirmed that it has been under federal investigation for its accounting practices since July 2017. CFO David Bergman said, “We firmly believe that our accounting practices and disclosures were appropriate.”
Yeti’s Q3 Boosted By New Products, DTC Expansion
Fueled by a strong new product lineup and expanding gross margins, Yeti Holdings Inc.’s earnings on an adjusted basis increased 29 percent in the third quarter on a 17 percent sales jump. The company raised its guidance for the year.
Callaway Golf’s Q3 Earnings More Than Triple
Callaway Golf Co. reported third-quarter earnings increased three-fold due to strong growth in golf clubs, continued momentum at TravisMathew and a “solid” quarter for recently-acquired Jack Wolfskin.
Acushnet Holdings Sees Double-Digit Growth In Q3
Acushnet Holdings, the parent of Titleist and Footjoy, reported a sharp hike in earnings in the third quarter with a boost from accelerated top-line growth.
Aisle Talk Week Of October 28
Top headlines from across the active lifestyle industry featured in SGB during the week of October 28, 2019.
5.11 Again Tops CODI’s Expectations; Velocity Faces Restructuring
Helped by a strong performance at 5.11 and improvement at Liberty Safe, Compass Diversified Holdings LLC (CODI) reported consolidated subsidiary EBITDA returned to growth in the third quarter, exceeding internal expectations. Velocity Outdoor, however, absorbed a $33.4 million impairment charge.
Champion’s Momentum Continues In Q3
Excluding the C9 line that is being phased out of the Target chain, Champion’s sales on a currency-neutral basis jumped 26 percent in the third quarter, ahead of expectations for the third straight quarter this year. Gerald Evans, CEO of HanesBrands, said he believes Champion is well-positioned to generate another $1 billion of growth over the next several years.
Columbia Sportswear Lifts Outlook On Early Fall Shipments
Boosted by higher advance orders and earlier shipments of fall 2019 product for Columbia and Sorel, Columbia Sportswear Co. reported third-quarter earnings and sales that topped Wall Street’s targets and again raised its guidance for the year.
Crocs’ Q3 Powered By Gangbuster Wholesale Growth In The Americas
Led by the Americas region, Crocs Inc.’s Q3 earnings nearly tripled on a 19.8 percent revenue gain. Full-year revenue guidance was raised to 11 percent to 12 percent growth over 2018. The comfy footwear maker also provided initial guidance for 2020, projecting growth would accelerate to between 12 percent and 14 percent.
Big 5 Doubles Q3 Earnings, Sees Robust Q4
Boosted by its fourth consecutive quarter of same-store sales growth and a jump in merchandise margins, Big 5 Sporting Goods Corp. reported earnings in the third quarter more than doubled and were well ahead of guidance. Management also provided upbeat guidance for the fourth quarter. Shares of Big 5 climbed nearly 50 percent on Wednesday on the news.
Faction Skis Goes Big With Next Growth Phase
Faction Skis, the Verbier, Switzerland-based premium ski manufacturer, has set its sights on the U.S. market for its next growth phase. CEO Alex Hoye spoke with SGB about recent moves to take share here, including a new North America headquarters, increased production and shifting sales in-house. Here’s what on tap for the next step in Faction’s evolution.
Unifi Sees Polyester Market Show Some Stabilization
Unifi Inc. reported improved underlying profitability on a modest sales gain in the first quarter as stringent cost-control efforts and a more favorable raw material cost environment in the U.S. offset continuing pricing pressures in polyester.
Russell Athletic Showcases Sports Heritage With First Pop-Up
Looking to capitalize on its 110-year athletic heritage, Russell Athletic in 2017 showed at Agenda in Las Vegas for the first time with a line of cotton t-shirts, fleece and French terries with graphic details that stood out for the return of the “Eagle R” logo. Over the last three weeks, the brand’s lifestyle push was on full display at its first-ever pop-up in downtown Manhattan.
