EXEC: Arc’Teryx Was Still Firing on All Cylinders in Q2 as DTC Led the Way
Technical Apparel segment growth was fueled by 39 percent DTC expansion, including a 26 percent omni-comp result, which was considered “a great result” as it had to comp against an 80 percent omni-comp last year in the second quarter.
EXEC: GoPro Inc. Cutting 15 Percent of Workforce in Cost-Cutting Effort
The Restructuring Plan would reduce its full-time employees by 15 percent from 925 full-time workers at the end of Q2. Cuts would begin in Q3 2024 and be “substantially completed” by the end of 2024. The layoffs would affect 139 positions.
EXEC: Rip Curl and Oboz Parent KMD Brands Saw Improved Fiscal Q4 Trends
Despite a double-digit sales decline for the year, the company highlighted the improvement in the business throughout the year after first-half sales fell 14.5 percent and Q3 sales declined 11.1 percent, but Q4 saw a significant moderation in the declines to slide 5.0 percent for the May through July period.
EXEC: A Look Ahead at Amer’s Q2 Results as Weak China Retail Worries Market
Amer Sports, Inc. will report Q2 results tomorrow morning. Investors hope the slowdown in China did not have an outsized impact on the company’s performance in the period, particularly the Arc’teryx brand, which relies heavily on the Greater China market for its revenue.
EXEC: Lazydays Holdings Gets Creative to Weather the RV Downturn
Despite the creative work of managing inventory, generating sales, and cutting expenses, the company continued to see revenues fall 22.6 percent in Q2, with the bottom line falling into the red as RV traffic stalled this year.
EXEC: Why is Nike Back in Play on Wall Street?
There may be some light at the end of the tunnel for Nike investors after NKE shares tallied their longest winning streak in over eight years, pushed higher by a range of actions.
EXEC: Li Ning Company First Half EPS Declines Despite Revenue Growth, Margin Expansion
Li Ning Company Limited reported its overall performance remained stable with pragmatic growth in the 2024 first half (H1) period. Revenue amounted to RMB 14,345 million in H1, an increase of 2.3 percent
EXEC: Lolë Brands Acquires Sanuk Footwear from Deckers Brands
Katie Pruitt, who has worked for Deckers for nearly 13 years, including four years with Sanuk, was appointed VP and general manager of Sanuk at Lolë Brands. Lolë said she is the “ideal choice to lead the brand into the future.”
EXEC: Nike Cuts Off Shipments for Türkiye Online Orders
The move by Nike comes as Türkiye’s Ministry of Trade increases the duty paid on shipments valued over €30 to 30 percent from 20 percent, if arriving from EU countries, and to 60 percent from 30 percent if arriving from other countries.
EXEC: Fila USA Narrows Q2 Net Loss Despite Strong DD Decline in Sales
Revenues were down more in local currencies as constant-currency sales fell 20.4 percent for the second quarter, compared to a 7.4 percent decline in the first quarter.
EXEC: Ahead, Craft, Cutter & Buck Parent Gets Q2 Lift from Sports & Leisure
The Sports & Leisure segment increased 10 percent, and all regions except Other Countries improved their net sales. Net sales from April through June increased to SEK 958.6 (869.2) million.
EXEC: Equinox Group’s Blink Fitness Unit Files for Bankruptcy to Facilitate Sale
Blink Fitness reported that it has made the strategic decision to execute an “efficient and value-maximizing sale process to optimize its footprint and position the business for long-term success.”
EXEC: 361 Degrees Posts Healthy H1 Results, Outpaces China Retail Growth Trends
The strong growth was said to be mainly due to the Group’s continuous efforts in channel rollout and marketing to promote online and offline omni-channel operations.
EXEC: On Posts Strong Q2 but U.S. Growth Slowed by New Atlanta DC Transition Issues
Without the impact of the Atlanta warehouse transition, the company believes it would have been able to deliver sales growth on a global level above its full year guidance and would have seen a stronger D2C share or higher D2C share.
EXEC: Asics Corp. Gets Big First Half Lift from Yen Depreciation
Net sales for the 2024 first half increased 18.0 percent to ¥342.2 billion, which was said to be due to strong sales in all categories, but the weaker yen had a major positive impact of the first half. Excluding FX currency fluctuations, sales would have increased just 8.7 percent year-over-year.
