Garmin CEO Talks Tacx Acquisition, Strong Q1
Garmin Ltd. President and CEO Cliff Pemble spent only a little time on Wednesday’s Q1 earnings call with analysts discussing the company’s acquisition of Tacx, but he did shed some more light on how Garmin would go to market with its newly acquired Dutch business, which designs and manufactures indoor bike trainers, tools and accessories, as well as indoor training software and applications.
Unifi Lowers Outlook Again
Unifi Inc. for the third quarter in a row lowered its outlook for the year due to competitive pressures in the polyester space, especially from low-cost imports heading into the U.S.
Big 5 Delivers Robust First Quarter But Weak Outlook
Big 5 Sporting Goods Corp. delivered a strong first quarter as cold weather boosted its winter business. But the California-based sporting goods chain also warned of a loss in the current quarter due to a later Easter this year and also warned that overall sales appear soft.
Unity Needed For Snow Sports Industry To Boost Participation
As this historic ski and snowboard season winds down, it’s time for the industry to gather for an après drink and find ways to reverse the trend of declining participation. SGB spoke with numerous stakeholders about how they can contribute to the cause and why building on the momentum of this epic season is so critical.
Modell’s Fight For Survival
In a comprehensive interview with SGB Executive, Mitchell Modell, CEO of Modell’s Sporting Good’s, discusses the retailer’s frantic outreach efforts to save the company following reports of a possible bankruptcy filing. Plans to further stabilize and improve the business were also detailed.
Columbia Eyes Three Key Growth Markets Following Strong Q1
After reporting record sales and an earnings beat in the first quarter, Columbia Sportswear Co. is now looking to amplify its brand presence in three key markets—New York, Denver and China—that offer additional growth opportunities for the outdoor apparel and footwear giant.
Hydro Flask Propels Helen Of Troy’s Q4 As Brand Expansion Continues
Shares of Helen of Troy Ltd. soared $24.93, or 21.6 percent, to $140.29 at market close Friday after the company earlier in the day reported sales in its housewares segment, which includes Hydro Flask, increased 7.8 percent to $126.1 million in the fourth quarter ended February 28. The company continues to have big plans for the brand.
Puma’s Q1 Boosted By Promising Start To Basketball
With robust growth in China and the U.S. and a healthy reception to its return to performance basketball, Puma SE kicked off the year with its strongest quarter ever. Said Bjørn Gulden, “The growth in all regions and all product divisions shows that we continue to make progress.”
Aisle Talk Week Of April 22
Top headlines from the active lifestyle industry you may have missed this week, including a report that shows three sportswear and outdoor brands—Adidas, Reebok and Patagonia—are leading the way on transparency among the world’s 200 largest fashion brands and retailers.
Sneakerheads Fueling Potential $6 Billion Resale Market
Sneakerheads—consumers who covet and purchase many different sneakers and are constantly searching for the latest, limited-edition pair of kicks—should help the already lucrative sneaker resale market hit $6 billion by 2025, according to a recent study from Cowen. “Sneakers As An Alternative Asset Class” estimates that the sneaker resale market in North America is about $2 billion and rapidly growing.
Cherokee Global Brands Sees Double-Digit Q4 Growth For Hi-Tec
Cherokee Global Brands reported sales declined 11 percent in the fourth quarter due to a shift from direct-to-retail (DTR) through a wholesale licensing model. A bright spot, however, was the Hi-Tec brand, which delivered a 12 percent gain in revenues year-over-year.
Brunswick Corp. Finding Interest In Its Fitness Segment
On its first-quarter quarter conference call, Brunswick Corp. officials said it is finding a number of interested buyers for its Fitness business, which includes Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and SCIFIT. The planned spinoff, announced last year, is expected to be settled in the second quarter.
Rocky Brands Inc. Ramps Up Reinvestment After Strong Q1
Marketing efforts clearly paid off for Rocky Brands Inc. in the first quarter, with the company reporting a 9.1 percent earnings increase on a 7.4 percent revenue gain, both of which beat Wall Street’s estimates. Now the company plans to double down on that strategy by reinvesting some of the profits from last quarter into a revamped and rejuvenated marketing strategy aimed at taking more share across end markets.
Lululemon Looks To Double-Down on Men’s, Digital And International
Lululemon Athletica, at its first analyst day in five years and first under new CEO Calvin McDonald, unveiled a five-year growth plan to double its men’s and digital businesses and quadruple its international business. Surprises include its planned expansion of fitness accessories, including rollers and training gloves, and its entry into the footwear category.
Conversation With Klean Kanteen CEO Jim Osgood
“That balance of people/planet/profit defines success for us,” said Jim Osgood, CEO, Klean Kanteen, who checked in with SGB Executive about what’s been happening at the company. Among other topics, Osgood spoke about the impact of last November’s Camp Fire, why doing good is good business, the ongoing tariff war and how Klean measures success.
