SGB Executive

Led by a hike in pickleball participation, the Sports & Fitness Industry Association (SFIA) Topline Participation Report found that physical activity rates increased in the U.S. for a fifth consecutive year. The report also indicates that activities ranging from golf to tennis, basketball, kayaking and surfing continue to build on pandemic-related gains.

Escalade, Inc. reported lower earnings in the fourth quarter and year as demand for many of its sporting goods gear normalized and it warned of continued challenges in 2023. However, pickleball, led by its Onix and Dura brands, was a bright spot, landing among the few categories managing growth in the fourth quarter.

Wolverine Worldwide reported fourth-quarter results that were in line with guidance but officials on a call with analysts gave a bullish outlook for profit improvement in the back half of 2023 as inventory and expense reduction efforts are already starting to pay off. For the current year, mid-single digit growth is expected for both Merrell and Saucony and low-single digits gains for Sweaty Betty.

Walmart comfortably topped holiday-quarter earnings and sales targets, but the retail giant delivered weak guidance for the current year due to high prices and the potential for further macro pressures, foreshadowing a tough year for the retail sector.

Brooks Running said in a release that the company “crossed the finish line in 2022 with record global revenue,” up 6 percent over 2021 with growth in all regions, and direct-to-consumer sales up 16 percent.

SportChek’s same-store sales declined slightly in the fourth quarter against challenging year-ago comparisons but were also impacted by a lack of snowy weather and a pickup in promotional activity in the marketplace. Helly Hansen delivered growth of over 20 percent for the second straight year.

Crocs, Inc’s results for the fourth quarter and year came in even better than a favorable pre-announcement issued in early January. On an analyst call, Andrew Rees, CEO, called out sandals and international as key growth drivers for the Crocs brand in the current year while also expecting Heydude to build on its ramped-up wholesale partner expansion in the U.S.

Founded in 1980, Sun & Ski Sports has become one the leading sports specialty chains in the U.S., with 33 stores across 13 states. Karl Salz, president, discusses with SGB what’s unique about the Sun & Ski Sports concept, the chain’s recent performance, expansion, and other key growth initiatives.

Ammo Inc. reported a loss in its fiscal third quarter ended December 31 on a 40 percent sales plunge while slashing its outlook for the second straight quarter.

Consolidated Fenix Outdoor International AG (Group) fourth quarter sales grew 4 percent to €203.9 million, compared to €196.5 million in the prior-year comp quarter.

Shimano reported that net income rose 10.6 percent on a 15.1 percent revenue gain in its year ended December 31. Both earnings and sales easily topped the company’s guidance. Sales are expected to decline 20 percent in the current year.