EXEC Q&A: Karl Salz, President, Sun & Ski Sports
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.
EXEC: Ammo, Inc. Outlines Recovery Strategy, Slashes Outlook
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.
Fenix Outdoor Q4 Profit Slides On Extraordinary Expenses, FX Issues
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’s Sales Climb 15 Percent In Year, Topping Guidance
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.
EXEC: Analysts See Longer-Than-Expected Turnaround For Adidas
Adidas’ surprise profit warning for 2023 last week signaled to analysts that the fallout from the Yeezy break-up would be worse than expected and the sales recovery under new CEO Bjorn Gulden would take longer than forecast.
EXEC: Asics North America Growth Lagged Global Gains In 2022
Asics Corp reported sales in its North American region grew 22 percent in 2022 with a big foreign-exchange boost. Currency-neutral sales rose 3.1 percent on top of a 27.2 percent jump in 2021. The region was profitable for the second straight year although profits were down due to e-commerce expenses.
EXEC: Nautilus To Reduce Workforce By 15 Percent Amid Fitness Slowdown
Nautilus, Inc. reported a steep decline in sales in the fiscal third quarter ended December 31, slashed its full0-year outlook for the second straight quarter and said it would reduce its workforce by approximately 15 percent as part of further cost-reduction actions.
Yue Yuen’s Sharp Manufacturing Decline May Reflect Tough Footwear Year Ahead
Yue Yuen Industrial (Holdings) Limited reported that the net consolidated operating revenue of the company for January 2023 declined 16.7 percent to $810.3 million.
EXEC: Topgolf Callaway Brands Sees Bright Path Ahead Despite A “Rare Miss” In Q4
Topgolf Callaway Brands posted a solid fourth-quarter performance, but company President and CEO Chip Brewer admitted the company had a “rare miss” relative to its quarterly guidance.
Mizuno Delivers Double-Digit Q3 Growth Across All Regions
Mizuno Corp reported earnings slid 22 percent in the fiscal third quarter ended December 31, but sales grew 21 percent with double-digit gains in all regions.
EXEC: Under Armour Warns Of Ongoing Margin Pressures
Under Armour is making progress in its recent brand repositioning that includes better targeting teens and tapping lifestyle offerings. However, shares fell $1.01, or 8.2 percent, to $11.22 Wednesday as management warned on an analyst call that markdown pressures felt in its most recent quarter will continue in coming quarters.
Report: Adidas May See Beyoncé Deal Performance Coming Up Short
Fresh off a defining night of her career at Sunday’s award ceremony where she was crowned the winner of the most Grammy awards in history, some are calling into doubt Beyoncé’s ability to translate that energy into profitability for Adidas and their Ivy Park collab with the the singer.
Yonex Fiscal Q3 Sales Growth Accelerates As Asia Recovers, Badminton Grows
Yonex Co., Ltd saw revenue growth accelerate its fiscal third quarter ended December 31 as nine-month year-to-date (YTD) sales jumped 47.5 percent to ¥79.6 billion.
Jansport Divesture Plan Confirmed By VF Corp. Management
VF Corp. management confirmed on a Tuesday conference call with analysts that the company began a review of strategic alternatives for its global packs business. SGB Media previously reported speculation regarding the divestment of the Jansport brand this past December.
Vans Brand To See Major Focus And Investment From Parent VF Corp.
Vans brand revenue fell 13 percent (-9 percent in constant dollars) to $927 million in the fiscal third quarter ended December 31, reflecting positive performances in Europe and Asia outside of Greater China, while the Americas remained problematic.
