Cost-Cutting Steadies Iconix In Q1 But Issues Remain
Shares of Iconix Brand Group Inc. fell 18 cents, or 13.2 percent, to $1.18 at market close Tuesday after the company earlier in the day reported a steep drop in first-quarter revenue but also an operating profit thanks to some well-orchestrated cost-cutting measures.
Tariff Talk: Long And Winding Trade War Takes Another Turn
President Donald Trump last week led the U.S. into a new chapter of the ongoing trade war with China when he announced a 25 percent tariff increase on $200 billion worth of Chinese imports, a move that prompted Beijing to retaliate. SGB compiled the latest reactions from associations and companies as well as a tariff timeline.
Cannondale Driving Rebound For Dorel Sports
Dorel Industries said its Dorel Sports’ segment showed some recovery in the first quarter. Growth at Cycling Sports Group (CSG), led by Cannondale, helped offset continued pressures at the mass channel. Said Martin Schwartz, Dorel’s CEO, “We’re excited about prospects with the Cannondale line demonstrating excellent momentum.”
Short-Term Issues Force Callaway To Lower Jack Wolfskin Expectations
Market softness in the key markets of Central Europe and China along with foreign exchange headwinds prompted Callaway Golf Co. to lower its 2019 EBITDA expectations for Jack Wolfskin, the German-based outdoor apparel and gear brand that Callaway recently acquired.
Why Vista Outdoor Is Recommitting To Its Bell/Giro Business
Almost one year to the day that Vista Outdoor Inc. announced plans to sell its Bell/Giro business, the company took the bike protection segment off the selling block and committed to “rebuilding those brands with a fresh perspective,” said CEO Chris Metz, who shared some of the reasons why the company had a change of heart.
SportChek Finding Newer Competition In Active Lifestyle Space
SportChek, Canada’s largest sporting goods chain, managed a 3.4 percent same-store gain in the first quarter but gross margins eroded as promotions were used to drive sales and traffic. Said TJ Flood, president of FGL Sports Ltd., “We’re feeling very good about how we’re positioned going forward, but it’s competitive out there.”
Aisle Talk Week Of May 6
Top headlines from the active lifestyle industry you may have missed this week, including the announcement that Darrell Denny, EVP at Emerald Expositions who oversees Outdoor Retailer, is leaving the company, effective May 24.
GoPro Hikes Revenue Forecast On Robust Demand For The Hero7 Black
GoPro Inc. raised its full-year guidance after reporting first-quarter revenues that topped analysts’ expectations as well as a smaller-than-expected loss. Sales in the quarter received a boost from strong demand for its new line of action cameras from its flagship brand Hero.
Acushnet Remains Bullish As Golf Industry Perks Up
The golf industry has been uplifted in recent weeks thanks to the start of spring, Tiger Woods’ win at the Masters and some upbeat participation reports. Despite reporting a mixed first quarter, Acushnet Holdings Corp., the parent of Titleist and FootJoy, is also bullish on the sport’s fortunes for these reasons and more.
Wolverine’s Q1 Sales Slowed By Weather, Conservative Re-Orders
Wolverine World Wide reported earnings topped guidance in the first quarter and four of its major brands – Merrell, Saucony, Cat and Wolverine – exceeded internal sales expectations. Overall sales came in below expectations due to a downturn in the boat shoe market and weak re-orders that particularly impacted Sperry.
As Headwinds Mount, Is Camping World Making The Right Moves?
Headwinds continue to batter Camping World Holdings Inc., with such factors as a soft RV market, tough comps with 2018, operational restructuring and even a lawsuit taking a toll on the company. Is Camping World making the right moves in response?
Sequential Brands’ Active Portfolio Gains Further Traction In Q1
Sequential Brands Group Inc. reported first-quarter earnings on an adjusted basis came in below plan due to transition challenges of licensing agreements at its Fashion segment. The company’s Active brands, led by Gaiam, And1 and Avia, continue to see strong growth
Sturm, Ruger Again Faces Activists At Annual Meeting
Sturm, Ruger & Company Inc. reported another quarter of double-digit declines with so signs of a pickup in the firearms market while yet again facing a number of gun-control activists at its annual meeting.
Bogs’ Bounce Back Continues In Q1
Bogs, continuing on the recovery seen in 2018, saw revenues jump 23 percent in the first quarter. The gains were due primarily to higher sales to outdoor and online retailers.
Strong Snow Season, Product Innovation Drive Clarus To Q1 Beat
Add Clarus Corp. to the growing list of beneficiaries of the record-setting 2018/19 ski and snowboard season. Historic snowfall led to the fourth-highest number of skier visits at resorts across the U.S., and it fueled winter sports enthusiasts to buy more products from brands like Clarus’ flagship, Black Diamond Equipment.
