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.
Deutsche Bank Turns Bullish On Athletic Stocks
Deutsche Bank upgraded its stock ratings on both Lululemon and Finish Line while lifting its price targets on Nike, Under Armour, Foot Locker, Dick’s Sporting Goods, Hibbett Sports and Big 5 due to improving fundamentals for the athletic channel.
Morgan Stanley Raises Price Target On Dick’s Sporting Goods
Morgan Stanley raised its price target on Dick’s Sporting Goods to $30 from $28, believing the “company and stock are at a pivotal moment.”
City Sports Plots A Comeback
With its first store soon to reopen and an upcoming relaunch of its website, the new owners of City Sports are making progress toward its goal of reestablishing the athletic chain in urban centers.
Johnson Outdoors Boosted By Fishing And Diving Segments
Capping off a record year, Johnson Outdoors Inc. returned to profitability in its fiscal fourth quarter as sales leapt ahead 22.5 percent.
American Outdoor Brands Slashes Outlook On Weak Gun Sales
American Outdoor Brands Corporation, the parent of Smith & Wesson, M&P and Thompson/Center Arms, again reduced its guidance for the year due to ongoing challenges in firearms. The revision came while the company reported poor third-quarter results that generally came in line with guidance.
Aisle Talk, Week Of December 4
Top headlines from the active lifestyle industry you may have missed this week.
Duluth Holdings Posts Q3 Loss On Retail Expansion Costs
Duluth Holdings, the parent of Duluth Trading, reported a loss in the third quarter due to the costs of its aggressive store expansion but the store openings helped revenues run up 25.0 percent in the period.
BSN Sports Acquires Portion Of Hibbett Team Sales
Continuing its rapid consolidation of the team channel, BSN Sports completed the acquisition of a portion of the assets of Hibbett Team Sales Inc. (HTS), based in Birmingham, AL.
Cowen Cuts Adidas’ Estimates On North America Growth Concerns
Cowen lowered its estimates on Adidas for 2018 due to its belief that Nike’s product cycle is improving, heightened promotions are being seen in North America on the Adidas brand, and a possible moderation in Europe.
Lululemon Rebuts Athleisure Critics In Q3
Lululemon’s better-than-expected third quarter benefited from a 25 percent hike in e-commerce sales, growing momentum internationally, and growth of more than 20 percent in women’s pants, jackets and outerwear, and men’s.
Cherokee Cuts Guidance, Eyes Growth In 2018
Henry Stupp, CEO, said the company’s acquisition of Hi-Tec has been “undoubtedly more costly and time-intensive than we originally forecasted.” The flagship Cherokee’s brand transition away from Target is taking longer than expected while Tony Hawk’s revenues are being impacted by weakness in Canada.
Is Amazon Overwhelming MAP Policy Enforcement?
While the arrival of online selling has led to a ramp-up in vendors implementing MAP (minimum advertised price) policies, Amazon’s growing dominance of e-commerce and increasing traction in the active lifestyle space continues to complicate the whole MAP enforcement game.
