EXEC: Titleist Golf Ball Sales Increase Double Digits in 2023; Clubs Up in High Singles
Titleist golf balls posted healthy sales gains for the year, led by the successful Pro V1 and Pro V1x launch and continued strengthening of the golf ball supply chain, while Titleist golf clubs growth was said to be driven by new T-Series irons and expanded club fitting capabilities.
EXEC: Big 5 CEO Talks Efforts to Offset One-Two Punch from Weather and Economy
The Apparel category was down approximately 30 percent year-over-year in the fourth quarter. The Footwear category was down approximately 17 percent and the Hardgoods category was down approximately 11 percent for the period.
EXEC: Puma SE Posts Flattish Bottom Line in Q4 on Sales Decline to End the Year
Sales growth for 2024 is estimated in the mid-single-digit percentage rate in constant-currency terms and EBIT is seen in a range between €620 million and €700 million.
Sports Direct Parent Frasers Group Adds to Board of Directors
The parent of Sports Direct, Slazenger, Donnay, LA Gear, No Fear, and Antigua, is appointing new directors to its Board, including Helen Wright, Global CEO of Sergio Rossi, Sir Jon Thompson, former chief executive of the Financial Reporting Council, and two current company executives, Ger Wright and Ger Wright.
EXEC: Adidas Embarks on Next Phase of Yeezy Releases
As previously announced, Adidas will release its remaining Yeezy inventory, featuring products from 2022 through the year, beginning with the 350 V2 in Steel Grey.
EXEC: Gymshark Sees All Regions Grow in Fiscal 2023 But U.S. Growth Slows
The U.S. region, which boasts the largest regional sales volume, grew 9.7 percent year-over-year to £250.4 million. U.K. sales increased 25.6 percent to £111.7 million and Europe revenues increased 16.1 percent year-over-year.
EXEC: Merrell Expects DD Decline in 2024; Return to Growth in H2
Merrell declined 17.0 percent in Q4 to $161.8 million. For the full year, Merrell was down 11.3 percent in constant-currency to $675.8 million. Merrell is expected to decline in the low-double-digit range in 2024 with inflection to growth in the second half.
EXEC: Fox Factory’s Q4 and Full Year Results Gutted by Declines in the Bike Business
Consolidated net sales declined 9 percent to $1.46 billion for the full year. The decline for the year was attributable to the Specialty Sports Group Bike segment, which was down $309 million, or 45 percent, year-over-year.
EXEC: Bowflex Inc. Warns on Going Concern Status; Lays Out Executive Retention Plan
The company said it now believes that conditions will not improve in the next several quarters, which is negatively affecting its liquidity projections. Management determined there is substantial doubt about the company’s ability to continue as a going concern for 12 months.
EXEC: S&P Issues Damning Report on the Health of TNF and Vans Parent
S&P Credit Rating analysts lowered their forecast for VF and now believe the company will have to sell “sizeable brands” to meaningfully reduce leverage in the near term.
EXEC: Saucony to See Big Decline in 2024 Before Recovery
The fourth quarter was tough for Saucony as sales fell 13.4 percent (-13.7 constant-currency) to $105.1 million, from $121.3 million in the prior-year corresponding quarter.
EXEC: Globe Int’l Swings to H1 Profit on Margin Gains, Cost Cuts
The work put in at Globe over the last year looks like a microcosm of the work ahead for much larger active lifestyle entities like VF Corporation and Wolverine Worldwide. Globe is proving it works.
EXEC: Inside the Wolverine Worldwide C-Suite – Assessing the Year Ahead
Fiscal 2024 revenue is expected in the range of $1.7 billion to $1.75 billion, roughly a 5.5 percent decline at the mid-point versus the 2023 revenues. Gross margins are expected to reach 45.5 percent of sales, a record high, and EPS is forecast to improve 5X at the mid-point.
EXEC: Havaianas Parent Ends 2023 on Low Note; Works to Conserve Cash
Havaianas revenues for the fourth quarter declined 8.7 percent year-over-year (YoY) to R$991.8 million. International revenues were down 48.9 percent to R$96.6 million in the period.
EXEC: January Footwear Manufacturing Revenues Jump at Feng Tay
Analysts have noted in reports that the market should not get too excited with the revenue decline in January 2023 or the increase in 2024 in China, Taiwan or Vietnam due to the shifting dates for Chinese New Year.
