EXEC: Inside The Marathon Sports Deal And The 400-Door Plan With Fleet Feet’s CEO
Fleet Feet has been busy, acquiring Boston’s Marathon Sports last year on top of its 2021 acquisition of the JackRabbit chain. Here, Joey Pointer, CEO, discusses the reasons behind the Marathon Sports’ acquisition and its ongoing expansion appetite, its recent performance, key initiatives and more.
EXEC: Newell Blames Outdoor & Rec’s Q1 Shortfall On The Weather
On Newell’s first-quarter analyst call, Ravi Saligram, Newell’s CEO, attributed the steep quarterly sales decline seen at the Outdoor & Recreation segment to “a slower-than-expected start to the season, primarily due to wet and cold weather in the western part of the country.”
Yue Yuen Warns On Q1 Profit Decrease As Footwear Manufacturing Contracts
Footwear manufacturing powerhouse Yue Yuen Industrial (Holdings) Limited is expected to record a decrease of 40 percent to 45 percent in profit attributable to owners of the company as compared to profit of $88.6 million for the corresponding three-month period in 2022.
EXEC: Hydro Flask Hurt By Demand Shift Toward Tumblers, Osprey Outperforms
On an analyst call, Julien Mininberg, CEO, said Hydro Flask’s sales declined in the fiscal fourth quarter ended February 28 in large part due to a shift in consumer preference from insulated bottles to tumblers. Osprey, acquired December 30, 2021, outperformed expectations.
Columbia Sees Solid Q1 Growth But Earnings And Outlook Suffer On Inventory Woes
Columbia Sportswear said consumer demand in many areas of their business remained strong in the first quarter, with international markets showing resilience and the outlet store business in the U.S. generating healthy growth as consumers seek out value and promotions in the marketplace. Columbia lowered the high end of its EPS outlook to account for higher SG&A expenses.
EXEC: Skechers Sees DTC And International Offset U.S. Q1 Wholesale Weakness
Skechers USA reported domestic wholesale sales tumbled 18 percent in the first quarter due to elevated inventories across the U.S. marketplace and difficult year-ago comparisons. However, strong growth in U.S. DTC (direct-to-consumer) and across international regions helped overall results handily top guidance.
EXEC: Crocs’ Shares Hit By Projected Top-Line Slowdown, HeyDude Shortfall
Crocs, Inc. lifted its sales and earnings guidance for the year after witnessing a better-than-expected performance by the Crocs brand in the first quarter. However, the company’s shares are trading down about 16 percent in afternoon trading Thursday as investors appear still spooked by the sales slowdown expected for the rest of the year as well as lower-than-expected sales in the first quarter at HeyDude.
Columbia Sportswear Sues Two Former Execs For Trade Secrets Theft
Columbia Sportswear Company (CSC) has filed suit against two former executives in Oregon District Court for alleged theft of trade secrets. The two former employees resigned on the same day and joined Huk Gear, the fishing apparel brand owned by Marolina Outdoor, Inc.
EXEC: Puma N.A. Business To Undergo “Transition” Year Amid Off-Price Excess
Puma SE CEO Arne Freundt revealed company sales in North America declined 18.6 percent in the first quarter, and the company now expects a further decrease in 2023 as Puma reduces its exposure to off-price sellers and elevates its position as a sports brand.
Gap Shares Fall As Athleta Parent Poised To Cut Hundreds More Jobs
Gap, Inc., the parent company of active lifestyle banner Athleta, has apparently become far too bloated in its corporate structure for its interim CEO and will undergo at least 500 corporate layoffs to tune the organization to the realities of the current marketplace.
EXEC: Life Time Lifts Earnings Guidance On Improving Membership Growth
Life Time Group Holdings, Inc. raised its earnings outlook for the year after reporting first-quarter earnings topped guidance. On an analyst call, Bahram Akradi, CEO, shown above, said membership attrition had come down steadily each quarter and forecasted that June would be the first month with attrition rates below 2019.
EXEC: Talking Growth Drivers With Oofos President Steve Gallo
Oofos President Steve Gallo spoke recently with SGB Executive about drivers of the company’s robust growth, the active recovery opportunity, plans for the current year, and the recovery brand’s dedicated fans.
EXEC: Brooks Sues Skechers Over ‘Beast’ Trademark
Brooks Sports Inc. filed a lawsuit against Skechers U.S.A. Inc., alleging the company is infringing on the “BEAST” trademark used on Brooks running shoes since 1992.
Fenix Outdoor Provides Cautious Outlook On Inventory And Macro Concerns
Fenix Outdoor International AG reported sales climbed 9 percent in the first quarter on strength in the Americas and German regions as well as with the Fjällräven and Hanwag brands. Profits were down slightly, and Fenix Outdoor warned that results in upcoming quarters could be pressured by elevated inventories and promotions in the marketplace.
EXEC Q&A: Jim Duffy, Managing Director, Consumer And Retail, Stifel Financial Corp.
SGB Executive talked to Jim Duffy, veteran sell-side industry analyst at Stifel Financial Corp., about the headwinds and tailwinds facing the active lifestyle space, his favorite stocks, the DTC trend, his affinity for covering the active lifestyle space, and the company’s sponsorship of the U.S. ski team.
