EXEC: Nautilus Sees Direct Business Improving on Momentum in Strength Products
Nautilus Inc., the parent of Bowflex and Schwinn fitness equipment, significantly reduced its loss in its fiscal first quarter ended June 30 due to improved margins and lower costs. Sales were again down sharply with retail segment sales impacted by high marketplace inventories, but the direct segment showed improving trends, including flat sales across strength products.
EXEC: Allbirds Shares Pop As Transformation Efforts Gain Traction
Allbirds reported a loss in the second quarter, but the period marked the troubled eco-friendly sneaker seller’s second quarter in a row of top- and bottom-line results above expectations. Company officials told analysts that its transformation efforts included a refocus on core styles, including the Wool Runner and Tree Dasher, which had made progress.
EXEC: Yonex Posts High-Teens Growth in Fiscal Q1; Profits Down
Global net sales increased 18.1 percent year-over-year aided by Yen depreciation overseas., reflecting strong demand globally despite concerns over inflation, economic slowdown and geopolitical risks.
EXEC: Topgolf Callaway Leadership Talks Up Modern Golf Trend, Q2 Results, IT Incident
CEO Chip Brewer noted that the company hopes to clearly explain the short-term volatility and highlight the long-term positive story of continued improvement in the earnings power of the business and the resilience of the core Modern Golf consumer.
EXEC: Under Armour Reduces North America Guidance on Wholesale Softness
Under Armour reported results for the fiscal first quarter ended June 30 came in line with expectations amid progress reducing inventory levels while reiterating its overall guidance for the year. However, sales guidance was reduced for North America as the brand was unable to overcome due to stubborn challenges at U.S. wholesale.
EXEC: Dunlop Sports Full-Year Forecast Cut After Q2 Growth Falls Short
Dunlop Sports’ business increased 19.5 percent to ¥68.15 billion ($504.8 million) in the first half, but the company forecasted sales on May 15 to reach ¥70.0 billion in the first half after reducing its previous forecast of ¥75.5 billion.
EXEC: Mizuno Posts Strong Fiscal Q1 Results; Footwear Jumps 46 Percent
The company reported sales grew in strong double-digits in the fiscal first quarter ended June 30, driven by double-digit growth across all categories. The Japan-based company is maintaining its forecast for sales of ¥225 billion in fiscal full-year 2023.
EXEC: Asics Corp. Increases Full-Year Guidance on Strong H1 Results
For the first half ended June 30, net sales were ¥290.0 billion, recording the highest for the six month period and increased year-over-year in all regions and categories.
EXEC: Black Diamond Sales Thwarted By Weak Open-To-Buy Orders
Black Diamond’s sales fell 23.7 percent in the second quarter due to a combination of lower consumer demand and continued lower open-to-buys as its primary North American wholesale partners work down inventory levels, according to its parent Clarus Corp. Company officials see improvement but do not expect marketplace inventories to rebalance until year-end.
EXEC: Giant Group’s H1 Sales Decline on U.S., Europe Promotions
Profits fell 44 percent in the first half due to promotions to clear inventories in Europe and North America. Consolidated revenue declined 5.4 percent year-over-year to NT$42.6 billion ($1.34 bn).
EXEC: Analysts Gaining Confidence in Adidas’ Turnaround
While some still see an uphill battle for Adidas to regain share in the competitive landscape, the majority of analysts covering the stock were encouraged by the progress the company made in the second quarter toward a turnaround, including building momentum in its underlying business on the back of the “terrace” trend.
EXEC: Solo Brands Sees Big Pay-Off at Retail as Q2 Wholesale Jumps
For a company identified by the symbol “DTC” on the NYSE, the conversation for the quarter was interesting as the growth in the wholesale business overshadowed, but did not offset, the decline in its direct-to-consumer business.
EXEC: Titleist Parent Sees Continued Benefit from Golf’s Pandemic Boost
Acushnet Holdings Corp.’s second-quarter results topped analyst estimates as the momentum in Titleist golf balls and golf clubs offset weakness at FootJoy. David Maher, president and CEO, told analysts, “Supporting the company’s first half results, we are enthused by the golf industry’s overall health and stability with participation remaining vibrant even as golfers return to many pre-COVID activities.”
EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown
Johnson Outdoors’ overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, “We’re seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years.”
EXEC: L.L.Bean Expands Wholesale to Dillard’s, Moosejaw and Select Independents
L.L.Bean is adding Dillard’s and Moosejaw to its roster of U.S. wholesale key accounts, as well as ten independent specialty retailers in the southeastern U.S. The Maine-based retailer also plans to open four stores, with two in Quebec.
