SGB Executive

Bogs Q3 Boosted By Diversification Efforts

Continuing to benefit from progress reducing its reliance on winter boots, Bogs’ sales were up 12 percent in North America on a wholesale basis in the third quarter, according to its parent, Weyco Group.

Adidas Sees Revenue Growth Accelerating In Q4

Adidas AG beat earnings estimates in the third quarter as sales picked up in the U.S. after months of trouble there from supply-chain snags and sales also recovered in Europe. Adidas reiterated its full-year guidance while predicting a “significant acceleration” in sales in the fourth quarter.

October M&A Roundup: Nike, Kathmandu, JackRabbit And More

October was another busy month for M&A in the active lifestyle space, with footwear and apparel giant Nike Inc., outdoor retailer and gear brand Kathmandu Holdings Ltd., and sporting goods chain JackRabbit all pulling the trigger on market-shifting deals.

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.”

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.

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.