EXEC: Crocs Shares Jump After Clog-Maker Lifts Full-Year Guidance
Shares of Crocs, Inc. climbed $9.55, or 14.2 percent, to $76.60 on Thursday after the parent of Crocs and Heydude reported third-quarter results that handily exceeded Wall Street expectations while raising its outlook for the year. Andrew Rees, CEO, said on an analyst call, ““Consumer demand for both the Crocs and Heydude brands is exceptional.”
EXEC: Under Armour’s Shares Pop On Earnings Beat
Shares of Under Armour closed up about 12 percent on Thursday after the company reported better-than-expected earnings for its latest quarter while only slightly lowering its full-year guidance. Under Armour interim president and CEO Colin Browne told analysts on a call, “In a highly challenging retail environment, we’re pleased that we’re able to deliver second-quarter results that were in line with our expectations.”
EXEC: Peloton Sees Continued 2023 Headwinds As Q1 Results Fall Short Of Estimates
Peloton Interactive, Inc. took an early beating after reporting fiscal 2023 first quarter results after missing consensus Wall Street estimates but shares reversed course as the day progressed. PTON reported that total fiscal first-quarter revenue fell 23 percent to $616.5 million for the period that ended September 30.
EXEC: Canada Goose Slashes Outlook On China Softening, Macro Concerns
Canada Goose Holdings, Inc. significantly cut its outlook for its fiscal year ending March 2023 as COVID-19 restrictions continue to slow the recovery in China and macroeconomic concerns mount. The downward adjustment comes despite Canada Goose reporting second-quarter results that handily topped analyst targets.
EXEC: Big 5 Delivers Cautious Holiday Guidance
Big 5 Sporting Goods Corp. reported a challenging third quarter against tough year-ago comparisons and guided for a downbeat fourth quarter despite continued progress on merchandise margins and significantly improved inventory levels. Steve Miller, president and CEO, told analysts, “Hopefully, we turn out to be conservative.”
Vittoria Industries To Move North America Headquarters To Bentonville
Vittoria Industries North America is moving its headquarters from Oklahoma City to Bentonville, AK taking space in the Ledger, a new six-story building downtown, providing employees with a bike-friendly facility. The move is expected to take place in December 2022.
EXEC: Escalade Stymied By Inventory Pruning At Mass Channel
Escalade, Inc. is seeing momentum in pickleball and cornhole but said efforts to reduce inventories by mass merchants led to declining earnings and sales in the third quarter.
EXEC: Newell Brands’ Outdoor Segment Hit By Softening Demand
Newell Brands’ Outdoor and Recreation segment reported an 18.4 percent decline in core sales due to a shift of retailer orders into the first half and softening demand. Newell officials also said they expect the recent pandemic-related benefits to “continue to subside” for its outdoors and home businesses.
NPD Report: Active Lifestyle Industry Categories Draw Tough Comparisons To 2021
At SFIA’s 2022 Industry Leaders Summit, Matt Powell, senior industry advisor, sports to The NPD Group, outlined how most active lifestyle categories have run down in 2022 against elevated 2021 comparisons but remain ahead of 2019.
EXEC: Shares Of Columbia Climb On Earnings Beat
Shares of Columbia Sportswear are trading up about 4 percent in mid-day trading Friday after the company reported third-quarter earnings that topped Wall Street targets, boosted by 29 percent growth at Sorel and 19 percent at the Columbia brand. The company reiterated revenue and earnings targets despite order cancellations due to delayed shipments as well as heightened promotions.
EXEC: Hoka Delivers Another Powerhouse Performance For Deckers Brands
Deckers Brands said Ugg saw a solid performance in the fiscal second quarter ending September 30, continuing to benefit from progress diversifying beyond classics. However, the star brand again was Hoka, which saw sales surge 58.3 percent to $333.0 million. Hoka’s six-month revenue growth was 57 percent versus last year, with the brand now representing […]
The Big Gear Show Reverses Course, Moves To Denver, Adds Consumers
The Big Gear Show (BGS) looks to do a bit of a 180 with its summer trade show next summer, abandoning nearly everything that was supposed to set it apart from other shows. Gone will be the Park City, UT location, and along with that move an outside location on water to demo boats.
EXEC: How Did Hoka Become A Disruptor?
At SFIA’s 2022 Industry Leaders Summit in a session entitled, “The Secrets to Building a Disruptor Brand,” Wendy Yang, former president of Hoka One One, credited Hoka’s ability to break out in large part to the running brand’s hungry leadership team.
EXEC: VF Trims EPS Guidance Again On Building Promotional Pressures
VF Corp. reported second-quarter results that were generally in line with Wall Street targets but reduced its full-year outlook for the second time in a month. Momentum at The North Face is being offset by underperformance by Vans as well as an overall consumer pullback amid a heightened promotional climate in North America.
EXEC: Skechers Lowers Outlook As Inventories Pile Up
Skechers USA Inc. reported sales in the third quarter jumped 20.5 percent, led by robust gains in the EMEA and Americas regions. However, earnings came in below plan and its full-year outlook was reduced as a sudden improvement in transit times and port throughput caused $50 million of incremental logistics costs.
