EXEC: Ahead, Craft, Cutter & Buck Parent Gets Q3 Lift from U.S. and Sports & Leisure
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson, reported that third-quarter net sales dipped 1 percent, with Sports & Leisure the only segment posting an increase for the quarter.
EXEC: Under Armour Shares Pop on Strong Q2 Earnings Beat
Shares of Under Armour surged 27 percent on Thursday after the company reported operating earnings topped guidance by $50 million due to efforts to reduce promotions at its DTC channels, particularly online. Under Armour President and CEO Kevin Plank expressed confidence that initiatives to elevate product and storytelling will drive a return to growth.
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
EXEC: Puma Eyes Boost from Low-Profile Footwear Trend
Puma’s growth accelerated in the third quarter to a 5 percent currency-adjusted (ca) gain from 2.1 percent in the second quarter, led by a recovery in footwear demand. Arne Freundt, CEO of Puma, said on a media call, “I’m very confident to say that we are leading the low-profile trend.”
Acon Closes on Investment in Mexico Boutique Fitness Operator
This latest deal comes as Mexico’s fitness market appears to be in expansion mode. Founded in 2017, Commando operates 11 facilities in Mexico, with over 30 fitness rooms where group-based fitness classes are the focus.
EXEC: The Pro’s Closet is Back in Business Under New Ownership
Elshair Companies has acquired the TPC (The Pro’s Closet) brand and its intellectual property, marking the beginning of a new chapter for the “world’s largest and most trusted marketplace for pre-owned bikes.”
EXEC: LVMH-Backed Moncler Rumored to Have Interest in UK’s Burberry
Italian outerwear maker Moncler may be eyeing a bid for the iconic UK apparel company to create a luxury outdoor outerwear conglomerate, but luxury is not what it was six months ago, as Moncler turned negative in Q3.
EXEC: Peloton Shares Rise on Double Upgrade from Bank of America
Peloton’s PTON shares rose nearly 4 percent on Monday, November 4, and shares are up ~14 percent since the company reported its results before the market opened last Thursday, October 31.
Study: Boys Participation Declines; Increased Specialization Tops Youth Sports Concerns
Kids have returned to pre-COVID sports participation levels. However, some worrisome trends in the Aspen Institute’s National State of Play 2024 report highlight that boys continue to play fewer sports and kids are specializing in one sport rather than multiple, even more so post-pandemic.
Study: Out-of-Stocks Drive 66 Percent of Consumers to Another Retailer
“‘Right product, right place, right time’ echoes in every retail conference room. Yet as retailers have expanded their online assortments and marketplaces to attract new customers and traffic, it’s become more challenging to avoid frustrating shoppers when they can’t find their size or their desired item in-store.”
EXEC: Fox Factory’s Specialty Sports Segment Gets Q3 Lift from Marucci and Bike
The SSG segment, which includes the Fox Factory, Marucci, Easton cycling, and Race Face brands, posted net sales of $150 million in Q3, compared to $72 million in Q3 last year, with nearly $50 million coming from the acquisition of Marucci.
EXEC: Peloton Shares Spike with New CEO and Above-Plan Q1 Results
Total revenue in the quarter was $586.0 million, down 1.6 percent from $596 million a year ago. Total revenue was above the high end of its $560 million to $580 million guidance range and analysts’ consensus estimate had been $574.8 million.
EXEC: Columbia Sportswear CEO Lays Out Brand’s “Accelerate” Growth Program
The company said the decline in net sales reflects lower Fall ’24 wholesale orders, as well as weak consumer demand in the U.S. partially attributable to warm weather and outdoor category headwinds. Mountain Hardwear was the only brand in positive territory.
EXEC: Sebago, K-Way Parent BasicNet Relies on Europe for Growth in YTD Period
Europe (+7.3 percent) accounts for ~76.5 percent of aggregate sales while declines were seen in Americas (-30.9 percent), Asia and Oceania (-24.7 percent), and Middle East and Africa (-5.4 percent).
EXEC: Kappa Retail Stores in China Post Continued Declines in Fiscal Q2
China Dongxiang Co., Ltd. reported that its Kappa-branded stores recorded a high-single-digit decrease on a year-over-year basis for the fiscal second quarter ended September 30.
