Run Specialty Re-Finds Its Stride
With a spurt of innovation, a healthy shake-out of stores, and a number of nimble adjustments to the changing retail landscape, run specialty is back in growth mode, according to participants at last week’s The Running Event in Austin.
G-III Shares Plummet As Apparel Manufacturers Suffer
Shares of G-III Apparel Group Ltd. were down $5.84, or 14.3 percent, at market close Thursday amid a handful of other apparel manufacturers losing value after a mixed third quarter. But G-III was, in fact, one of the better performing apparel companies in the period. The company reported earnings for the third quarter ended October 31—its largest quarter of the year—rose 15.6 percent on a 4.7 percent revenue gain.
Behind The Deal: How Callaway Aced The Jack Wolfskin Acquisition
Anyone who looks beyond the surface of Callaway Golf Co.’s agreement to acquire Jack Wolfskin for $476 million will see that reducing it to the simplistic “golf company buys outdoor brand” doesn’t capture the depth of the deal. The acquisition makes sense on multiple levels for both companies amid the blurring of channels, product lines and even consumer habits.
Fjallraven North America’s Nathan Dopp Shares Brand Outlook
Nathan Dopp, deputy CEO and president of the Americas for Fjallraven North America, spoke with SGB at last month’s Outdoor Retailer Winter Market in Denver, CO, where he shared what’s on tap for the brand in 2019 and beyond.
J.P. Morgan Turns Bullish On Nike’s North American Momentum
J.P. Morgan raised its price target on Nike Inc. to $85 from $81 as the investment firm has grown more convinced that Nike’s momentum in North America is accelerating. Based on its own recent fieldwork, J.P. Morgan raised its North America revenue estimate to 9 percent growth for Nike’s second quarter ended November 30.
Tariff War Far From Over
President Donald Trump and Chinese President Xi Jinping agreed Saturday to a temporary trade cease-fire to allow time for more negotiations but trade experts are doubtful that 90 days will be enough time to resolve the thorny and complicated issues that divide the two countries.
November M&A Roundup: Big Outdoor Deals Bookend Busy Month
Two large acquisitions in the outdoor space bookended November—Canada Goose bought Baffin to kick off the month and Callaway bought Jack Wolfskin to close it—while a flurry of M&A activity occurred in the days between.
SFIA Seminar: Industry Playing It Safe
On a webinar last week providing an update on the state of the sporting goods industry, Tom Cove, SFIA’s president and CEO, said that many of the industry’s players appear to be fixated on protecting their market share somewhat at the expense of pursuing growth opportunities. While this reflects an industry recovering from a string of bankruptcies, he lamented that the cautious stance may be holding back the industry’s overall growth.
Prayers Answered: Early Snowfall Bodes Well For Ski Resorts
Skiers and snowboarders aren’t the only ones whose prayers for plentiful snow to start the season have been answered. The owners and operators of resorts across the country are especially thankful for the early openings and hopeful that this momentum will lead to a long and prosperous season.
Aisle Talk Week of November 26
Top headlines from the active lifestyle industry you may have missed this week, including analysis from The Running Event (TRE), which shows that the industry is flying high once again after a couple of years of declining sales in the run specialty channel.
Yeti ‘Wild’ On Growth Prospects
In its first earnings report since going public, Yeti Holdings Inc. reported third-quarter earnings that topped Wall Street’s consensus target by $3.00 a share and set long-term growth targets of 10 to 15 percent as it pursues new categories, new customer segments and new channels. But shares fell $3.09, or 16.1 percent, on Thursday apparently due to concerns over weakness in its Cooler/Equipment segment.
5 Questions With New Vibram Corp. President Fabrizio Gamberini
At the recent Outdoor Retailer Winter Market in Denver, CO, Vibram Corp.’s newly appointed president, Fabrizio Gamberini, sat down with SGB to dish on a number of topics, starting with the smooth transition of him taking over the market-leading sole company.
Tilly’s Stock Takes Hit On Missed Guidance
Shares of Tilly’s tumbled $3.22, or 21.1 percent, to $12.04 on Thursday after the action sports retailer reported earnings and sales that landed at the lower end of guidance. EPS guidance for the current quarter was also lower than planned.
Dick’s Top-Line Struggles Continue
Dick’s Sporting Goods Inc. increased its 2018 earnings guidance for a third consecutive quarter as earnings easily beat Wall Street’s targets, thanks to stringent expense controls. Sales, however, came in lower than Wall Street’s targets due to the continued drag from hunt and activity trackers categories, weakness at Under Armour and flat footwear comps.
Sportsman’s Warehouse Shares Rise After Mixed Q3
Shares of Sportsman’s Warehouse Holdings Inc. were up 23 cents, or 4.9 percent, at market close Wednesday after the company posted mixed performance for the third quarter despite numerous headwinds, most notably weather-related.
