SGB Executive

Yeti, Inc. reported sales and profits in the fourth quarter that surpassed analyst targets on demand for both its drinkware and coolers while predicting another year of strong growth in 2022. However, management cautioned that supply chain pressures would impact sales in the first part of the year.

Garmin Ltd. saw a mixed performance from its sports-related segments as tough comparisons and supply chain disruptions distorted results. For the current year, Garmin predicted flat sales for the Fitness segment but growth of 20 percent for the Outdoor and 15 percent for the Marine segments.

Crocs, Inc. delivered stellar results for the fourth quarter and year ended December 31 but warned that $40 million of orders would shift from the first into the second quarter of the current year due to pandemic-related transit delays. Andrew Rees, Crocs’ CEO, told analysts, “I would say it’s a combination of delays in loading, delays in transit and delays unloading.”

Under Armour Inc. reported a fourth-quarter beat but a cautious outlook amid foreboding supply chain warnings caused the stock to slide. Analysts generally felt the stock’s pullback offers a more attractive entry point into a brand on the rebound although a few were seeking more visibility.

Do as I say, not as I do. Is the announcement this week about retailers and brands threatening to boycott the Outdoor Retailer Show if it returns to Salt Lake City a good business move or just hypocritical PR hype?

SFIA’s Topline Report showed that America’s inactivity rate declined for the second year in a row, reaching its lowest levels in the organization’s annual survey. Pandemic-friendly activities, including tennis, golf, running, hiking, yoga, skateboarding, and surfing, continued in popularity while other categories, including team sports that declined in 2020, show signs of recovery.

Newell Brands reported revenues at its Outdoor & Recreation segment rose 22.1 percent in the fourth quarter and 14.9 percent for the year. The gains were led by Coleman, Bubba and Contigo.

Under Armour’s earnings and sales topped Wall Street estimates in the fourth quarter as demand continues to improve, led by North America. However, officials warned on an analyst call that supply chain headwinds tied to the pandemic, including heightened freight costs and stalled deliveries, would weigh on further progress for the next several quarters. Shares of Under Armour were off about 10 percent in early afternoon trading.

Callaway Golf Company saw 2021 as a transformational year for the business, and much of it was due to the addition of Topgolf to its brand portfolio.

Canada Goose delivered strong gains in earnings and sales in the fiscal third quarter ended January 2 but significantly reduced its top-line growth projections for the year. On a call with analysts, Dani Reiss, president and CEO, said new COVID outbreaks and related restrictions have impacted revenue growth and retail traffic starting the latter part of its third-quarter in both the APAC and EMEA regions.

Nautilus, Inc. reported another loss on a steep decline in sales in the fiscal third quarter ended December 31 and slightly lowered its full-year guidance due to heightened promotions in the marketplace. However, CEO Jim Barr told analysts he remains bullish on the at-home fitness opportunity and Nautilus’ potential around it.

Analysts were generally optimistic that Peloton’s move to bring in subscription industry veteran, Barry McCarthy, as CEO could help right-size its business to drive sustainable growth. Peloton is still seen facing hurdles reigniting growth while winding down its bloated overhead structure to better match demand.

Fueled by double-digit growth in its Salt Life Group and Delta Group segments, Delta Apparel, Inc. notched a first-quarter sales record as net profits more than tripled.

On his last quarterly call as CEO, Peloton’s John Foley admitted to “missteps” as the connected-fitness leader attempted the scale the business during the pandemic. His comments came after Peloton on Tuesday morning announced a CEO change, significant job cuts as part of a restructuring and slashed its revenue outlook for its current year.

Shares of Peloton shot up about 20 percent on Monday after the arrival Friday night of takeover rumors. While Peloton is not formally for sale, the list of potential suitors has grown to included Nike, Amazon, Apple, Google, Netflix, Microsoft, and Google. Analysts were mixed on a potential deal.