Compass Points Downgrades Callaway Golf To Sell
Compass Point lowered its rating on Callaway Golf from “Neutral” to “Sell” due to a lower valuation put on TopGolf, an investment for Callaway’s, than expected.
Wall Street Reacts: Nike Q2
While some were dismayed that the North American marketplace recovery wasn’t more apparent, Wall Street was generally pleased with Nike’s better-than-expected second-quarter results.
Bass Pro Hints At Impending Layoffs At Cabela’s
In a letter to Cabela’s employees, Bass Pro Shops CEO Johnny Morris wrote that Cabela’s sales have been underperforming over the last few years and the overall company has been “under the weight of an extremely heavy corporate payroll.” The document also revealed a few details of the transition process as a result of the Bass Pro/Cabela’s merger.
Nike’s North American Struggles Continue In Q2
With strong double-digit growth overseas, Nike Inc. reported second-quarter earnings and sales that topped Wall Street’s expectations but growth in North America decelerated further in the period. Nike officials further indicated that it will take one or two quarters for growth to resume in the region.
Aisle Talk, Week Of December 18
Top headlines from the active lifestyle industry you may have missed this week.
Finish Line Raises Guidance On Sales Uptick
While the selling climate remains highly promotional, Finish Line Inc. said an acceleration in sales in running and basketball helped support a lower-than-expected loss in the third quarter ended November 25, prompting the sneaker chain to raise its guidance for its fiscal year.
Lululemon, Nike, REI And Adidas Land On Best Employers List
Lululemon was the highest-ranked retailer in Glassdoor’s “2018 Best Places to Work” survey for U.S. companies. Lululemon was ranked 6. Other companies in the active space making the top-100 list included Nike, ranked 53; REI, 61; and Adidas, 93.
Athletic Brands Showing Momentum In Cowen’s Holiday Survey
In Cowen’s second annual Holiday Brand Survey, athletic brands largely led in shopping preference over non-athletic brand choices, similar to last year. Nike came in first, at 34 percent, followed by Under Armour and Adidas at 25 percent each, Victoria’s Secret at 23 percent, The North Face at 22 percent and Columbia and Skechers at 20 percent each.
Sports Zone Follows Sheikh Shoes To Bankruptcy Court
Sports Zone Elite, the sneaker chain in Washington, DC and Maryland, became the second retailer in the last month to find its dependence on Nike to be a blessing during good times and a liability during more difficult ones.
Buckingham Raises Price Target On Nike
Buckingham wrote in a note that by the second half of its fiscal year, Nike should see healthier sales from new product launches, fewer products selling at markdowns overall in the marketplace, and a benefit for a change from foreign exchange fluctuations.
Sports Direct’s U.S. Operations Lands In Red In First Half
Sports Direct reported underlying EBITDA in its U.S. Retail segment, including Eastern Mountain Sports and Bob’s Stores, showed a loss of £23 million due in large part to impairment charges.
Aisle Talk, Week Of December 11
Top headlines from the active lifestyle industry you may have missed this week.
Canaccord Genuity Upgrades Foot Locker To “Buy”
Canaccord Genuity raised its rating on Foot Locker to “Buy” from “Hold” due to signs of improving footwear trends, the benefits of its supply chain enhancements and its “strong and symbiotic” relationship with Nike.
Stifel Nicolaus Upgrades Under Armour And Crocs
Stifel Nicolaus upgraded Under Armour and Crocs to “Buy,” lowered Fitbit to “Sell” and lifted it price target on Nike.
Deckers Wins Fight Against Activist Investor
Triumphing from a 10-month fight against an activist shareholder, Deckers Brands said all its candidates had been elected to its board of directors at its 2017 Annual Meeting of Stockholders.
