Under Armour‘s North America Struggles Continue
Under Armour’s second-quarter results were basically in line with expectations and officials indicated that the company’s strategic transformation program is progressing on plan. Shares of Under Armour, however, fell 12.2 percent on Tuesday as sales targets for North America for the year were reduced and Q3 results were guided below Wall Street expectations.
Sports Direct Stymied By “Challenging” Vendor Relationships
Shares in Sports Direct plunged to an eight-year low in Monday’s trading as the U.K.-based retailer detailed the troubled state of the recently-acquired House of Fraser department store chain and a surprise massive tax bill. But analysts were most concerned over the underperforming core Sports Direct chain and the company’s strained relationships with Nike, Adidas and other key sports brands.
RV Industry Hits Some Bumps In The Road
The recreational vehicle industry has hit several speed bumps lately: RV shipments were down double digits last month and some of the industry’s leading companies have seen earnings and shares take a hit from market softness. Also, the Recreational Vehicle Industry Association (RVIA) announced layoffs after scrapping its new trade show platform and it continues to look for a new president after Frank Hugelmeyer resigned.
Hoka Propels Deckers Brands’ Q1 Beat
Deckers Brands said Ugg continued to gain traction with spring offerings to help the company exceed guidance in the first quarter. But the star of the show was Hoka One One, where growth accelerated on the back of strong launches of the Carbon X and Clifton 6. Dave Powers, president and CEO, reiterated past comments that he sees Hoka on the path to becoming a $500 million brand while admitting “the real opportunity is probably bigger than that.”
Behind Columbia Sportswear’s ‘Shift’ Toward Footwear
Columbia Sportswear Co.’s second-quarter earnings report was filled with facts and figures showing how strength throughout its portfolio, balance across its channels and continued margin improvement due to its Project Connect initiative drove record revenue and an earnings beat. But Tim Boyle, the company’s president and CEO, was even more excited about what’s coming in the second half of the year—an unprecedented focus on footwear.
Aisle Talk Week Of July 22
Top headlines from the active lifestyle industry you may have missed this week, including Zion Williamson, the top pick in the 2019 NBA Draft, signing a deal with the Jordan Brand. “He’s an essential part of the new talent that will help lead the brand into the future,” said His Airness, Michael Jordan.
Hyperice’s Jim Huether Talks About Revolutionizing Recovery
Hyperice first disrupted the recovery space with the 2015 invention of the first vibrating roller, the Vyper, and did it again last year with the Hypervolt, the breakout handheld massage tool. SGB Executive talked to Jim Huether, CEO of Hyperice, about the company’s beginnings, the brands’ aggressive move into esports, and why the recovery opportunity is only getting started.
Military Sales A Mixed Bag For Rocky Brands In 2019
Military sales boosted Rocky Brands Inc.’s second-quarter revenue thanks to a timely purchase agreement from the Defense Logistics Agency and some accelerated shipments that were pulled forward because of a Department of Defense contract ending early. But while both of those events helped the company post a revenue beat for Q2, the military segment could be a drag on third-quarter performance before picking up again, executives said.
Vans And North Face Both Clicking for VF Corp
VF Corp raised its outlook for the year on accelerated momentum at Vans and renewed momentum at The North Face in the first quarter. VF officials also said it planned to spend an additional $20 million, or 4 cents per share, of incremental investment in the back half of the year to support the launch of North Face’s Futurelight fabric technology.
Checking In On VF Corp.’s Denver Relocation
While VF Corp. executives spent most of Wednesday morning’s earnings call discussing the company’s impressive first quarter, including standout performances from Vans and The North Face, recent transformation efforts were also on the agenda. And now that the spinoff of Kontoor Brands is complete, VF’s focus is squarely on its ongoing and massive relocation to Denver.
Black Diamond To Lay Off 70, Shift Some Manufacturing Overseas
Black Diamond Equipment, the flagship brand of the publicly traded holding company Clarus Corp., this week said it will lay off 70 manufacturing employees at BD’s Salt Lake City, UT, headquarters and move a portion of its production to Asia.
Drew Saunders, Oberalp Set New Course As Company Evolves
SGB recently sat down with Drew Saunders, country manager for Boulder, CO-based Salewa North America—the U.S./Canadian headquarters for Oberalp Group and its four brands (Salewa, Dynafit, Pomoca and Wild Country)—to discuss Oberalp’s goal for its latest portfolio addition, Evolv, as well as other changes happening at the company. Here’s what he shared.
GNC Sees 700 To 900 Stores Closing
GNC said sales remained sluggish into the second quarter and the seller of performance and nutritional supplements now expects 700 to 900 stores to close over the next three years. GNC CEO Ken Martindale said, “The negative trends in traffic that we’ve seen in mall stores over the past several years has accelerated during the past few quarters.”
Vail Goes Big With Peak Resorts Acquisition
Vail Resorts Inc., the Broomfield, CO-based ski resort and real estate behemoth, grew even bigger Monday morning with the (estimated) $264 million acquisition of Wildwood, MO-based Peak Resorts Inc. The purchase adds 17 ski areas to Vail’s already massive portfolio and dwarfs recent deals taking place in the rapidly evolving ski industry. Here’s what we know about the deal now.
Researchers Identify Path From Niche Cool To Mass Cool
A university study has identified 10 characteristics defining “coolness” that can be used to measure what a specific brand needs to become cool and stay cool.