Trade Talks Showing Some Positive Signals
Facing a March 1 deadline before tariffs on some $200 billion in Chinese imports rise, Chinese and U.S. negotiators held high level talks Thursday and Friday in Washington D.C. The discussions come amid signs of progress on resolving some issues in the seven-month trade dispute.
Zion Williamson Injury Puts Spotlight On Nike And College Hoops
A shoe malfunction that injured college basketball’s biggest star in the most-hyped game of the year sent Nike into full damage control mode and drove more debates on the risks of college athletics.
Gildan Activewear Preps For Next Big Private-Label Launch
Emboldened by two successful private-label launches last year, Gildan Activewear Inc. will ramp up that segment of its business as soon as next quarter when the company unveils an underwear line for a high-volume customer that many analysts believe is Walmart.
Garmin Steps Solidly Into Indoor Training Market With Tacx Acquisition
Shares of Garmin Ltd. jumped $12.09, or 17 percent, to $83.06 at market close Wednesday after the company earlier in the day reported fourth-quarter earnings well above Wall Street’s targets, driven in part by 25 percent growth in outdoor. But during the earnings call with analysts, it was Garmin’s recent acquisition of Tacx that caused the most excitement.
Wolverine’s Shares Sink On Cautious Guidance
Wolverine World Wide reported sales came in slightly below Wall Street’s expectations but are expected to accelerate to mid-single digit growth in the back half of 2019 due to an expected turnaround at Saucony and accelerated growth at Merrell and Sperry. EPS guidance for 2019, however, came in below expectations as the company plans to ramp up brand-building efforts this year.
SFIA: Sports Industry Facing Too Many Casual Participants
The annual SFIA Topline Participation Report found more Americans embracing healthy lifestyles in 2018, including notable gains in participation in a number of outdoor and fitness activities. But the study found tackle football participation taking another hit and overall gains being driven by casual rather than core participants.
Alterra CMO Erik Forsell Talks Ikon Pass Success, Industry Consolidation And More
Erik Forsell, Alterra Mountain Co.’s chief marketing officer, spoke with SGB Media at Outdoor Retailer Snow Show about a range of topics, including Ikon Pass usage trends, if Alterra measures itself against Vail Resorts, ongoing resort consolidation and how industry stakeholders can help drive ski/snowboard participation.
SportChek Q4 Boosted By Owned-Brands Push
Canadian Tire Corp reported that its SportChek segment saw same-store sales climb 2.5 percent in the fourth quarter, helped by a strong reception to its owned brands, Ripzone, Helly Hansen and Woods. Said Allan MacDonald, Canadia Tire’s EVP of retail, “I’m pleased that our owned brand strategy has now taken root at Sport Chek where we have to compete with some of the greatest brands in the world.”
Newell Brands Embarking On Final Wave Of Divestitures
Shares of Newell Brands Inc. dropped $4.53, or 20.9 percent, to $17.16 at market close Friday after the company earlier in the day reported a sharp decline in fourth-quarter operating earnings as it absorbed a $157 million impairment charge. Revenues declined 6 percent to $2.3 billion, missing Wall Street’s target by $90 million.
Aisle Talk Week Of February 11
Top headlines from the active lifestyle industry you may have missed this week, including Deanne Buck (pictured) resigning as executive director of Camber Outdoors.
Canada Goose Q3 Revenues Surge 50 Percent
Canada Goose again raised its guidance for the year after banging out significant gains in earnings and sales in the third quarter ended December 31. Results benefited from strong demand for expanded lightweight offerings, retailer requests for earlier shipments of merchandise, and a strong reception to new stores.
Report: Payless To Shutter All Doors
Payless ShoeSource plans to close all of its 2,300 stores in bankruptcy proceedings, sources told Reuters.
Emerald CEO: 2019 Snow Show Revenue Down In Mid-Single Digits
Revenue for the recent Outdoor Retailer Snow Show is expected to be down in the mid-single digits even as the show’s mood and energy were “excellent,” according to Phil Evans, interim president and CEO of Outdoor Retailer parent company Emerald Expositions Events Inc. That was the assessment Evans provided during Thursday morning’s earnings conference call with analysts to discuss Emerald’s fourth-quarter results.
Yeti Closes 2018 With ‘Significant Momentum’
One month ago at the ICR Conference in Orlando, FL, the top executives at Yeti Holdings Inc. laid out some ambitious financial goals for 2019 and beyond. And Yeti’s Q4 performance proved it is on the right path. The Austin, TX-based company’s net sales grew 19 percent to $241.2 million and adjusted net income skyrocketed 379 percent to $32 million, or 38 cents per diluted share, both of which beat analysts’ estimates.
Asics Resets Americas Team After Another Challenging Year
Following a year of double-digit declines, Asics America Group (AAG) reported that Koichiro Kodama will replace Gene McCarthy as CEO of the region in a broad management overhaul.
