Under Armour And Foot Locker Earn Upgrades
JP Morgan on Friday raised its rating on Under Armour due to increased confidence that its turnaround efforts are gaining traction while B. Riley FBR upgraded Foot Locker because of a healthy product pipeline coming from its primary suppliers, Nike and Adidas.
Nike Makes Some Progress On Diversity
Nike Inc., facing yet another controversy over gender equality involving its endorsed female athletes, found some success in calendar 2018 in its push to improve the representation of female and minority employees in its workforce, according to the company’s first FY18 Impact Report. But Mark Parker, CEO, insisted Nike still has much further to go.
The ‘Tiger Bump’ Is Real … And It’s Spectacular
Tiger Woods’ emotional victory at the Masters Tournament last month gave the sport of golf a huge boost, delivering an undeniable economic shot in the arm for all stakeholders. Tiger’s success—the industry knows well and was reminded of once again—is everyone’s success.
Cause Marketing Platforms Not Breaking Through With Gen Z
Several brands in the active lifestyle space, including Patagonia, Nike and Toms, are being recognized for their purpose-driven ethos and related cause-marketing efforts according to an extensive study from DoSomething.org. But the study still found it’s not easy to break through and create belief among consumers.
Mizuno’s America Region Posts First Annual Profit In Four Years
Aided by a focus on high-margin sales and cost controls, Mizuno Corp’s America region returned to profitability for the first time in four years.
Descente’s Americas Business Dragged Down By Ski Unit And Inov-8 In Fiscal Year
Descente Ltd. said both sales and income at its Europe and Americas segment fell in its year ended March 31 due to “sluggish” growth in Descente Mountain Americas, its North American Skiwear Subsidiary, and the Inov-8 footwear brand.
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.
