Dick’s Sees Margin Pressures Lingering Well Into 2018
Said Ed Stack, CEO, on a conference call with analysts, “With excess inventory still in the supply chain, broadened distribution strategies from some key vendors and a lack of newness and innovation, the fourth quarter and 2018 will continue to be promotional and pressure margins from last-year levels.”
Kohl’s Sees 20 Percent Growth Across Activewear In Q3
“Both apparel and footwear categories in Active were strong and this was driven by large increases in both Nike and Adidas, as well as continued strong performance from Under Armour,” said Kevin Mansell, Kohl’s CEO, on a conference call with analysts.
SGB Q&A: Casey Sheahan, CEO, Simms Fishing Products
The former CEO of Patagonia and president of Keen talks about his passion for the sport of fishing, a wide array of growth opportunities he plans to pursue at Simms, and his commitment to conservation and driving more people to the sport of fishing.
Cowen Downgrades Finish Line On “Skyrocketing” Promotions
Cowen & Co. lowered its rating on The Finish Line to “underperform” from “market perform” due to signs of “skyrocketing” promotions at the retailer. The investment firm also found that Finish Line was continuing to undercut prices of Nike and Adidas online, posing a risk it may see less access to those key brands in the future.
Adidas Q3 Boosted By North America And China
The Adidas brand, which grew 13.6 percent on a currency-neutral basis in the quarter, was led by growth of 31 percent in North America, 28 percent in Greater China and 39 percent across global e-commerce.
Christy Sports Expands Rocky Mountain Reach
Randy England, director of marketing at Christy Sports, told SGB, ”BD allowed us the opportunity to expand our footprint in Telluride and venture into a new market, Taos. They are a respected fixture in specialty ski retail with an outstanding reputation for customer service, like Christy Sports.”
Aisle Talk, Week Of November 6
Top headlines from the active lifestyle industry you may have missed this week.
Gander Mountain’s Return Now Set For 2018
Camping World has delayed the opening of its first Gander Outdoors locations until the first quarter but still expects to open 55 to 65 in 2018. Along with Overton’s, TheHouse.com, and Uncle Dan’s, Camping World expects its acquired outdoor lifestyle businesses to drive “north of $300 million” in revenues by 2019.
Mizuno’s Americas Sales Decline 7 Percent In Q2
Mizuno Corp’s sales declined 7.4 percent in the second quarter ended September 30 in the Americas region, improving from a 10.0 percent drop seen in the first six months of the year.
Sequential Brands Logs Loss On Impairment Charge
Sequential Brands reported a loss of $24.2 million, or 38 cents a share, in the third quarter, after taking an impairment charges of $36.5 million to write-down the value of the trademarks of five of non-core brands: Revo, Nevados, Caribbean Joe, Franklin Mint, and FUL. And1, Avia and Gaiam all performed well during the quarter.
Shares of Vista Outdoor Collapse On Impairment Charges, Slashed Guidance
Shares of Vista Outdoor fell $5.19, or 28.1 percent, to $13.24 Thursday after the company drastically cut its earnings guidance for its fiscal year amid more impairment charges while also announcing plans to sell its Bollé, Serengeti and Cébé brands and eliminate the Shooting Sports segment president position.
Canada Goose Boosts Guidance On Blowout Q2
Again benefiting from orders being pulled forward due to strong demand as well as a sterling performance from its direct-to-consumer (DTC) channel, Canada Goose Holdings Inc. reported results in the second quarter ended September 30 that handily topped Wall Street’s targets. The company significantly raised its guidance for both earnings and sales for the year.
Parent Of Titleist Eying Golf Recovery In U.S.
David Maher, COO, Acushnet Holdings, stated, “It is encouraging that the U.S. retail market is weathering its structural correction fairly well. The general consensus from our trade partners is that they are faring better now than they did in 2016 or 2015 as there are fewer competitive doors and a greater percentage of their sales is generated from inline products.”
Wolverine’s Revenues Continue To Recover
Boosted by an uptick in sales at Merrell and Saucony, Wolverine World Wide reported its second consecutive quarter of underlying growth. Merrill and Saucony grew mid-single digits, Chaco jumped strong double-digits and Wolverine brand gained low-single digits. Sperry was down mid-single digits.
Crocs Profits Recover, Revenues Stagnate
While Crocs’ third quarter showed that its bottom-line to benefit from cost-cutting initiatives and focus on higher-margin sales, top-line growth remains a struggle and management inferred that sales would be flat in 2018.
