Giant Reports U.S. IBD Glut Contributed to Lower Q1 Sales
Giant Inc. said a glut of some high-end bicycles in the United States and weak demand in China resulted in lower first quarter sales and profits and are likely to result in flat sales in 2016.
Sports Authority Sets Timeline for Going-Out-Of-Business and Lease Sales
Unable to find a PE firm or rival willing to tackle another attempt to resuscitate the chain, Sports Authority appears headed for a full-scale liquidation and the shuttering of all its doors.
Descente Surpasses $1 Billion in Annual Sales
Descente Ltd. reported better-than-expected profits for its fiscal year, ended March 31, despite missing its top-line guidance. The Japanese company said consolidated net sales reached ¥135.8 billion ($1.13 billion), up 10.3 percent from the prior fiscal year, but below the 12 percent the company forecasted in November. Operating income increased 13.6 percent to ¥11.1 billion […]
Moncler Bucked U.S. Retail Trends in First Quarter
Moncler S.p.A. reported its sales in the Americas grew 28 percent, or 21 percent currency-neutral in the first quarter thanks to the opening of five new stores and growing penetration of high-end U.S. department stores. The Italian maker of luxury ski wear and outerwear that is now moving into footwear and knitwear, reported growing penetration […]
Whistler Blackcomb Retail Sales Rebound Faster Than Visits
Whistler Blackcomb Holdings Inc.’s retail and rental sales surged 39.1 percent in the fiscal second quarter ended March 31, as normal snowfalls drew regional skiers and snowboarders back to North America’s largest mountain resort. The company reported revenues from its rental and retail operations at the Whistler-Blackcomb Resort in British Columbia grew by CAD$8.9 million […]
Sequential Brands Targets Yoga in Latest Acquisition
Gaiam Inc. (NASDAQ:GAIA) agreed to sell its money-losing yoga, fitness and wellness products business to Sequential Brands Group Inc. in a deal that saves the Boulder, CO-based company the expense of spinning it off as a separate public company to shareholders. Sequential Brands (NASDAQ:SQGB) agreed to pay $146 million, or slightly less than 1-times trailing […]
Vestis Unsecured Creditors Appoint Lead Counsel Ahead of Monday’s Hearing
Vestis Retail Group LLC’s unsecured creditors committee filed a motion Thursday to appoint Cooley L.P. as its lead counsel retroactive to April 26. The motion came just days ahead of a hearing May 16 where the federal judge overseeing the case could rule on objections to the restructuring plan Vestis proposed in its April 18 […]
Nautilus Inc. First Quarter Boosted by Octane Fitness Acquisition
Nautilus Inc. (NYSE:NLS) said its acquisition of Octane Fitness as well as a pickup in its retail business led to significantly improved revenues and earnings in the first quarter. The company makes fitness equipment under the Bowflex, Nautilus, Octane Fitness, Schwinn and Universal brands. Excluding an inventory step-up charge tied to Octane Fitness, adjusted earnings […]
Asics Americas First-Quarter Sales Slump on New Pressures
Asics America suffered a 5.5 percent decline in sales on a currency-neutral basis in the first quarter with a decline of 7.7 percent on the same basis in the United States. In a statement, Asics America blamed the sales decline on “some dynamic shifts” within the industry. These include point-of-sale data that showed performance footwear […]
Crocs Inc. First Quarter Boosted by Americas Pickup
Helped by a strong wholesale and e-commerce sales in the Americas, Crocs Inc. (Nasdaq:CROX) reported adjusted earnings rose 36.2 percent in the first quarter, to $6.4 million, or 7 cents per share. After charges, the shoe manufacturer had posted a loss of $6 million, or 8 cents a share, in the year-ago period. Revenue in […]
Planet Fitness Credits Early-Year Gains to Advertising Campaign
It pays to advertise. Planet Fitness (Nasdaq:PLNT) said same-store sales at its discount gyms grew 6.8 percent during the first-quarter 2016, leading to an 8.3 percent gain in total revenue, thanks to a national advertising campaign and initiatives to raise brand awareness. The company also raised its outlook for the full-year 2016. “In 2015, over […]
Mizuno’s Fiscal Year Impacted by Currency, U.S. Running Weakness
Mizuno Corp.’s net earnings dropped 37.6 percent in its fiscal year ended March 31, to ¥2.1 billion ($19.2 million). Sales grew 4.8 percent to ¥196.1 billion ($1.8 billion). The Japanese sporting goods giant’s gross margins were impacted by a weakening yen against many currencies as well as a slump in the performance-running market in the […]
Court Denies Stay On Sale of Sports Authority Consignments
Sports Authority’s Chapter 11 term lenders lost an appeal for an emergency injunction that would have escrowed the retailer’s receipts from supplier’s consignment sales. A U.S. district judge in Delaware said the lenders failed to prove they faced irreparable harm without the action. As reported, Sports Authority, soon after filing for bankruptcy in early March, […]
Aisle Talk
‘47, the sports lifestyle brand, announced a new licensing agreement with Nitro Circus, the BMX and Motocross show. Bauer Hockey will expand its Own The Moment retail initiative into Canada with the development of a 24,000-square-foot location in the Toronto suburb of Vaughan, Ontario. Bolt Threads, an American-based biotechnology company that is working with Patagonia […]
Delta Apparel To Close Factory Amid Strong Earnings Report
Delta Apparel (NYSE:DLA), as projected, reported significantly improved earnings for its fiscal second quarter, ended April 2, due to substantial gross margin improvement. And margins are expected to further improve with its decision to close its textile manufacturing operation in Maiden, NC. Production will be transitioned to its Honduran textile facility. On the company’s second-quarter […]
