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.
Running Industry Bounces Back
While they haven’t escaped the digital disruption that’s impacting all of physical retail, the run specialty channel appeared in better spirits at last week’s The Running Event in Austin.
Sheikh Shoes Betting On Nike For Turnaround
Sheikh Shoes ultimately blamed its trip to bankruptcy court on its inability to secure shipments from Nike, by far its largest supplier that holds an unsecured creditor’s claim of $16 million in the case. But it’s also counting on Nike to revive its fortunes.
Genesco Sees NFL’s Challenges Challenging Lids
Bob Dennis, Genesco’s CEO, said “the well-publicized challenges facing the NFL have meaningfully dampened demand for NFL licensed merchandise during the heart of football season” to impact Lids’ sales during the third quarter. Also impacting lids has been a less-favorable MLB playoff lineup, a disappointing performance this year by some key college teams, and a lack of a strong headwear trend.
Aisle Talk, Week Of November 27
Top headlines from the active lifestyle industry you may have missed this week.
Billabong Explores Quiksilver Merger
Shares of Billabong climbed 23 percent after the company disclosed that Boardriders Inc., formerly known as Quiksilver Inc., had made an offer to acquire the company. Billabong indicated that its board will evaluate the proposal.
Zumiez Delivers 5th Straight Quarter Of Comp Gains
Feeling its locked in on the young omnichannel shopper, Zumiez Inc. reported third-quarter earnings that hit the high-end of its guidance and offered an optimistic outlook for the fourth quarter.
Perry Ellis Sees Nike Swim And Golf Climb Double Digits
Perry Ellis International Inc. reported sales in its Golf segment grew low double-digits in the third quarter while Nike Swim leapt 40 percent.
