SGB Executive

Compass Diversified Holdings (CODI) reported BOA recorded a 34.7 percent year-over-year gain in the second quarter ended June 30, the strongest growth among its active lifestyle holdings. Sales increased 9.1 percent for 5.11 and 12.2 percent for Marucci Sports but declined 15.0 percent for Velocity Outdoor.

In his first quarterly analyst call since stepping down as CEO in 2019 to become executive chairman and brand chief, Kevin Plank said that while Under Armour has strengthened its “strategic operational and financial foundations” over the last several years, the search is ongoing for a permanent CEO who can “drive more robust top-line growth and increase profitability over the long term.”

Rocky Brands reported sales jumped 23.1 percent in the second quarter on strong demand across work, western and outdoor. However, on a conference call with analysts, Jason Brooks, chairman, president and CEO, said “certain internal and external challenges” prevented Rocky from capitalizing from a profitability standpoint on the robust demand and the progress made over the past 15 months in integrating its acquisition of Honeywell’s footwear business, which includes the Muck and Xtratuf.

Big 5 Sporting Goods Corp. reported sales in the second quarter ended July 3 exceeded any pre-pandemic second quarter, but missed plan due to macroeconomic headwinds that accelerated over the course of the quarter. CEO Steve Miller said on a call with analysts, “These macro trends are undoubtedly pulling dollars away from consumers’ discretionary spending.”

Vista Outdoor recently announced plans to acquire Simms Fishing Products for $192.5 million and Fox Racing for $540 million in moves that will extend its portfolio to 41 brands. SGB Executive talked with Chris Metz, Vista’s CEO, about the reason behind the acquisitions and the company’s better-than-expected fiscal first-quarter results.

Clarus Corp. reported profits and sales topped Wall Street’s targets in the second quarter despite supply chain disruption across segments. Full-year guidance was raised for its Precision Sports, or ammunition segment maintained for its Outdoor segment, led by Black Diamond Equipment, and lowered for its new Adventure segment. On a conference call with analysts, Clarus’ […]

Newell Brands reported its Outdoor & Recreation segment, which includes Coleman, Marmot and several other brands, saw core sales growth of 2.5 percent in the second quarter on top of 25 percent in the year-ago period. Ravi Saligram, Newell’s CEO, told analysts that sales in the Outdoor & Recreation segment are expected to decelerate in the back half due to inflationary pressures.

Founded in 2013, Outdoor Gear Builders (OGB) cultivates, connects and supports the outdoor community in Western North Carolina, becoming one of the first organized alliances of outdoor gear brands in the United States. SGB Executive talked with Matt Godfrey, the nonprofit’s new executive Director, about forming the organization, its mission and plans for future growth.

VF Corp’s profits and sales for the fiscal first quarter ended July 2 were largely in line with plan amid weakness in China and foreign currency headwinds. Highlights included double-digit gains for The North Face and Timberland. Steve Rendle, chairman, president and CEO, said VF’s premium brands have not yet felt the impact of macroeconomic pressures.

Deckers Brands’ earnings and sales arrived well above analyst targets in the fiscal first quarter ended June 30, catapulted by Hoka’s stellar appointment with sales growing 54.9 percent in the period to $330.0 million, eclipsing the billion-dollar milestone over the trailing twelve-month period.

Vista Outdoor reported earnings and sales easily exceeded company guidance in the first quarter ended June 26 with strength in premium offerings; however, officials told analysts it was tempering its outlook for the fiscal year due to macroeconomic pressures, as category demand at lower-price points continues to be adversely affected by inflation.

Columbia Sportswear Co. slashed its guidance as sales weakness in June continued into July, with the blame being attributed to inflation and recessionary concerns. Officials told analysts the lower earnings guidance also reflected continued supply chain disruption and heightened promotion risks due to elevated market inventories.

Shares of Garmin fell $8.94, or 8.7 percent, to $93.56 on Wednesday after the wearables maker lowered its guidance for the year due to weakness in its fitness segment and supply constraints in its marine segment.

Puma reported stronger than expected second-quarter results as healthy double-digit growth in the Americas and the EMEA region offset weakness in China. Puma raised its sales guidance for the year but maintained its EPS outlook due to potential margin pressures.

Skechers USA’s sales and earnings topped its guidance in the second quarter, but the company maintained its outlook for the year given escalating macroeconomic headwinds worldwide. David Weinberg, COO, told analysts Skechers expects to have opportunities to gain share should the economy slow. He said, “We do have the opportunity, as in the past, to take advantage of an adverse situation by offering the right product at the right price.”