EXEC: Mizuno Corporation Posts Record H1 Results in Sales and Profits
Mizuno management said there are concerns regarding the volatility of the financial market due to the monetary policies of individual countries and changes in political and global landscapes, as well as changes in consumer sentiment amid the continued rise in prices.
EXEC: Alpargatas Saw Havaianas Taking Market Share, Posting Growth in Q3
The management team at Alpargatas, the Brazil-based parent of the Havaianas and Rothy’s brands, offered their take on the 2024 third quarter with a particular focus on the company’s strategic review and transformation process that has already started to bear fruit for the Havaianas flip-flop brand.
EXEC: GoPro Continues to Cut Expenses to Lowest Level Since Before IPO
Revenue was $259 million in the third quarter, down 12 percent year-over-year, and posted a wider net loss for the period. GAAP net loss was $8 million, or a 5 cents loss per share, compared to a net loss of $4 million or a 2 cents loss per share, in the prior-year Q3 period.
EXEC: Yeti Tops Q3 Targets, Accelerates Sourcing Shift Out of China
Yeti, Inc.’s third-quarter results topped analyst targets, boosted by newer categories, including bags, barware, and cookware. Matt Reintjes, president and CEO, said on an analyst call that the company’s efforts to diversify its supply chain continue to have half of the brand’s drinkware production sourced outside of China by 2025.
EXEC: Ahead, Craft, Cutter & Buck Parent Gets Q3 Lift from U.S. and Sports & Leisure
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson, reported that third-quarter net sales dipped 1 percent, with Sports & Leisure the only segment posting an increase for the quarter.
EXEC: Under Armour Shares Pop on Strong Q2 Earnings Beat
Shares of Under Armour surged 27 percent on Thursday after the company reported operating earnings topped guidance by $50 million due to efforts to reduce promotions at its DTC channels, particularly online. Under Armour President and CEO Kevin Plank expressed confidence that initiatives to elevate product and storytelling will drive a return to growth.
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
EXEC: Puma Eyes Boost from Low-Profile Footwear Trend
Puma’s growth accelerated in the third quarter to a 5 percent currency-adjusted (ca) gain from 2.1 percent in the second quarter, led by a recovery in footwear demand. Arne Freundt, CEO of Puma, said on a media call, “I’m very confident to say that we are leading the low-profile trend.”
Acon Closes on Investment in Mexico Boutique Fitness Operator
This latest deal comes as Mexico’s fitness market appears to be in expansion mode. Founded in 2017, Commando operates 11 facilities in Mexico, with over 30 fitness rooms where group-based fitness classes are the focus.
EXEC: The Pro’s Closet is Back in Business Under New Ownership
Elshair Companies has acquired the TPC (The Pro’s Closet) brand and its intellectual property, marking the beginning of a new chapter for the “world’s largest and most trusted marketplace for pre-owned bikes.”
EXEC: LVMH-Backed Moncler Rumored to Have Interest in UK’s Burberry
Italian outerwear maker Moncler may be eyeing a bid for the iconic UK apparel company to create a luxury outdoor outerwear conglomerate, but luxury is not what it was six months ago, as Moncler turned negative in Q3.
EXEC: Peloton Shares Rise on Double Upgrade from Bank of America
Peloton’s PTON shares rose nearly 4 percent on Monday, November 4, and shares are up ~14 percent since the company reported its results before the market opened last Thursday, October 31.
Study: Boys Participation Declines; Increased Specialization Tops Youth Sports Concerns
Kids have returned to pre-COVID sports participation levels. However, some worrisome trends in the Aspen Institute’s National State of Play 2024 report highlight that boys continue to play fewer sports and kids are specializing in one sport rather than multiple, even more so post-pandemic.
Study: Out-of-Stocks Drive 66 Percent of Consumers to Another Retailer
“‘Right product, right place, right time’ echoes in every retail conference room. Yet as retailers have expanded their online assortments and marketplaces to attract new customers and traffic, it’s become more challenging to avoid frustrating shoppers when they can’t find their size or their desired item in-store.”
EXEC: Fox Factory’s Specialty Sports Segment Gets Q3 Lift from Marucci and Bike
The SSG segment, which includes the Fox Factory, Marucci, Easton cycling, and Race Face brands, posted net sales of $150 million in Q3, compared to $72 million in Q3 last year, with nearly $50 million coming from the acquisition of Marucci.
