M&A Fever Continues In 2017
Cabela’s, Gander Mountain, Eastern Mountain Sports, Majestic Athletic, Icebreaker, Villa, JackRabbit, Ogio and SIA’s Snow Show were among the businesses sold in yet another busy year of M&A action in 2017.
Most-Read SGB Exec Stories In 2017
Bankruptcies again dominated the top 30-clicked stories for SGB Exec in 2017, but big changes at Dick’s Sporting Goods, Nike, Fleet Feet Sports, Brooks Running and others also caught some attention.
Many Active Stocks Miss Market Rally In 2017
While the broader stock markets soared to record highs in 2017, many major stocks in the active lifestyle industry weren’t invited to the party.
Aisle Talk, Week Of December 25
Top headlines from the active lifestyle industry you may have missed this week.
DA Davidson Raises Price Targets On Sportsman’s Warehouse And Callaway Golf
DA Davidson raised its price target for Sportsman’s Warehouse due to the tax change and improving underlying trends as well as Callaway Golf due to its TopGolf investment.
B Riley Raises Price Target On Finish Line
“We believe management sounded more positive on the outlook for more innovation and product newness for the end of 2017/beginning of 2018, though new product will likely still have a smaller impact due to penetration until F2H19,” wrote analyst Susan Anderson in a note.
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.
