SGB Executive

EXEC: Acushnet’s Q1 Boosted By Titleist Momentum

Acushnet Holdings Corp. reported first-quarter earnings that handily topped Wall Street’s guidance, led by robust double-digit gains for Titleist golf balls and clubs tied to successful launches. David Maher, Acushnet’s president and CEO, told analysts, “The Acushnet team is excelling on the product development, manufacturing and supply chain management fronts.”

EXEC: Champion’s Steep Q1 Revenue Drop Blamed On Promotional Environment

On its first-quarter analyst call, Steve Bratspies, CEO of Hanesbrands Inc., attributed the Champion’s 22 percent tumble in the U.S. in the period on promotional pressures in an over-inventoried marketplace. He said, “When you get an inventory backup of the scale that we have, people try to move it and try to move it aggressively.”

KOA: Camping Participation Declines Off Record Highs

Kampgrounds of America, Inc’s (KOA) 2023 North American Camping and Outdoor Hospitality Report found camping, and glamping to a lesser degree, accounted for 32 percent of all leisure trips in 2022, down from a record high of 40 percent in 2021. However, participation among active campers held steady.

EXEC: Big 5 Hit By Weather And Macro Headwinds

Big 5 Sporting Goods Corp. reported same-store sales declined 7.1 percent in the first quarter ended April 1 with cold and rainy weather stalling the start of baseball, softball and other spring sports seasons. On an analyst call, Steve Miller, president and CEO, said comps are down 11 percent for the second quarter to date and expected to decline in the high single-digit range due to macro pressures.

EXEC: Black Diamond’s Growth Slowed By NA Wholesale Inventory Overhang

Clarus Corp. reported modest growth in its Black Diamond segment as gains in its direct-to-consumer and international channels helped offset fewer shipments to its North American wholesale channel due to elevated inventory levels and reduced open-to-buy dollars. Clarus also indicated BD’s inventories would not be rebalanced until the fall.

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.”

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.