SGB Executive

EXEC: Havaianas owner Alpargatas Shows Modest Growth In Q1

Alpargatas, the Brazilian parent of the Havaianas, Rothy’s and Ioasys brands, reported net revenue reached Brazil Real (R$)931.8 million in the first quarter, climbing 3.2 percent compared to the same period in 2022. For the flagship Havaianas brand, strength in Brazil offset declines in the U.S. and Europe.

EXEC: Solo Brands CEO Outlines Early Progress on Turnaround Plan

Solo Brands, Inc. reported first-quarter sales and adjusted EBITDA topped expectations and noted progress is being made in repositioning its brands for growth. On an analyst call, Chris Metz, CEO, said Solo Stove saw improving DTC trends while Chubbies benefited from the early arrival of a shorts campaign.

EXEC: Yeti Shares Jump as Q1 ProfIts and Revenue Fly Past Estimates

Shares of Yeti, Inc. jumped about 11 percent Thursday after the company reported that lower freight and product costs drove first-quarter earnings well above Wall Street targets, leading to raised EPS guidance for the year. Sales grew by double-digits for the second consecutive quarter.

EXEC: Vista Outdoor Sees Another Tough Year Ahead

Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.

EXEC: Topgolf Callaway CEO Eyes Sales Pickup for Golf Businesses in Back Half

Topgolf Callaway Brands reduced its sales outlook for the year due to weakness at Jack Wolfskin and currency headwinds seen in the first quarter, but officials on an analyst call said that overall profitability came in significantly better than expected and its Topgolf and Golf Equipment segments are both positioned to accelerate growth in the second half.

EXEC: Puma CEO Sees U.S. Returning to Growth in Second Half

Puma’s sales in the Americas region returned to growth in the first quarter due to gains in Latin America and overall strength in performance and retro footwear styles. North America delivered sequential improvement and remains on track to resume growth in the second half, Puma officials said on a media call.

EXEC: Fenix Outdoor Sees Q1 Sales Decline, but DTC Shines

Brands segments, which includes Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor, had sales of €45.2 million in the first quarter, falling 14.9 percent from €53.1 million in the prior-year first quarter.

EXEC: REI Co-Op Sales Ticked Lower in 2023; Loss Widens

REI reported that three factors largely drove the loss: its commitment to continue investing in hourly employee pay, its commitment to providing a member reward and a $169 million non-cash valuation allowance against its deferred tax assets.