SGB Executive

On Mondelez International’s second-quarter analyst call, Dirk Van de Put, chairman and CEO, said the acquisition of Clif Bar & Co. “will improve our position in the attractive and fast-growing snack bar category,” helping expand the company’s global snack bar business to more than $1 billion.

Fox Factory Holding Corp. reported sales in its Specialty Sports Group (SSG), its cycling component segment, delivered its ninth consecutive record revenue quarter in the three months ended July 1. Sales reached $178 million, up 28.1 percent on a year-over-year basis. Fox Factory’s CEO Mike Dennison, told analysts, “We are, however, seeing the signs of return to normal, and consequently, we expect SSG to return to more typical growth rates beginning in Q3 and return of seasonality in Q4.”

Johnson Outdoors reported a sharp decline in earnings in its fiscal third quarter ended July 1 due to supply chain challenges, especially within its fishing segment, as well as rising raw materials costs also tied to supply chain dynamics. Helen Johnson-Leipold, chairman and CEO, told analysts, “We’ve implemented price increases across our product lines and we’re focused on fulfilling demand and reducing our expenses where possible.”

Delta Apparel reported sales grew 6.9 percent in the third quarter ended July 2, driven by growth at the Salt Life lifestyle brand, the DTG2Go on-demand digital print business and Global Brands activewear unit. With continued growth expected in the fourth quarter, Delta expects to exceed its goal of 10 percent revenue growth for the fiscal year.

Callaway Golf Company reported strong second-quarter results driven by the continued strength of all three of its business segments. Total net revenue was just over $1.12 billion, up 22.1 percent versus the year-ago Q2 period.

Acushnet Holdings Corp. raised its sales guidance for the year as the parent of Titleist and Footjoy was able to catch up on inventory shortages to drive second-quarter results above expectations.

Adidas AG reported currency-neutral sales grew 4 percent in the second quarter, constrained by the impact of last year’s lockdowns in Vietnam, the suspension of operations in Russia and continued COVID-19-related lockdowns in Greater China. Despite expectations for continued macroeconomic pressures, CEO Kasper Rorsted vowed to analysts that Adidas would accelerate growth in the second half.

Shares of Crocs, Inc. lost 11 percent of their value on Thursday after the cushy-shoe maker slightly lowered its sales and earnings guidance for the year. The company now expects sales for the Crocs brand to grow approximately 14 percent to 17 percent in 2022 or 10 percent to 13 percent on a currency-neutral basis.

Shares of Yeti Holdings, Inc. fell 19 percent on Thursday after the maker of coolers and mugs reported a shortfall in its second-quarter results and slashed guidance for the year due to worsening consumer trends. Matt Reintjes, president and CEO, told analysts, “We have prudently adjusted our full-year outlook to both reflect some of these ongoing uncertainties and our commitment to making the right near, mid- and long-term decisions for the Yeti growth story.”

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’ […]