SGB Executive

American Outdoor Brands announced plans to acquire Michigan-based Grilla Grills, a maker of grills and smokers, as part of ramped-up expansion efforts around outdoor lifestyle products. The acquisition comes as a downturn in shooting sports accessories caused a significant reduction in guidance for its current fiscal year. American Outdoor Brands, spun off from Smith & […]

Fueled by full-price selling and a recovery in in-store shopping, Genesco, Inc. reported fourth-quarter earnings that came in easily ahead of Wall Street’s targets. For the year, double-digit sales growth and record profitability were seen for its footwear companies, led by Journeys.

Duluth Trading estimated that delivery delays cost the company between $15 to $20 million in revenues in the fourth quarter ended January 30, but strong full-price sales helped earnings surpass expectations. Dave Loretta, Duluth’s CFO, said, “Although inventory flow remains slower than normal, which we expect will impact sales in the first half of 2022, we are beginning to see some early signs that gives us confidence that supply chain congestion will improve by the second half of the year.”

On his company’s fourth-quarter conference call, Kasper Rorsted, Adidas’ CEO, said the North America region spent the last two years focused on “getting a more balanced position between growth and profitability.” Now, the region is set to accelerate top-line growth, aided by DTC expansion, strengthened partnerships with strategic wholesale accounts and numerous collaborations from Jerry Lorenzo to Gucci.

Dick’s Sporting Goods delivered its seventh consecutive quarter that saw earnings and sales surpass Wall Street expectations to power two straight record years in 2020 and 2021. With the performance over the pandemic, the U.S.’s largest sporting goods chain said the company’s fiscal 2022 outlook provides a “new foundation” upon which it plans to build in the years ahead.

Boosted by strength at Black Diamond and ammunition businesses, Clarus Corp delivered another record quarter to close out a record-setting year of sales and earnings. The gains came despite a challenging supply chain environment. Clarus’ President John Walbrecht said, “We continue to be nimble and decisive at the brand level, which is critical in achieving this level of performance.”

Hibbett, Inc. said fourth-quarter comps were negatively affected by 10 percent in the footwear category and 5 percent overall due to delivery delays. However, officials are bullish on a return to robust growth in the second half of 2022 due to improving inventory levels and strengthening partnerships with major vendors, including Nike.

Athleta’s sales grew 26.2 percent in 2021 to $1.43 billion a year ago and are on track to reach $2 billion by 2023, officials from Gap Inc., Athleta’s parent, said on its fourth-quarter conference call. Sonia Syngal, Gap’s CEO, said Athleta is being “led by its digital dominance, including growth in the wellness space, now six months into the launch of AthletaWell.”

Shares of Smith & Wesson Brands Inc. are trading down about 16 percent in early-afternoon trading Friday after the company reported sales fell 31 percent in the third quarter ended January 31, well below analyst targets. President and CEO Mark Smith told analysts firearms’ demand has “cooled significantly from the height of the pandemic surge, returning to more normal levels throughout our entire Q3.”

Brooks surpassed $1 billion in annual sales for the first time in 2021, expanding 31 percent year-over-year after climbing 27 percent in 2020. Playing a critical role in driving that growth has been Dan Sheridan, who was recently promoted to President and will partner with CEO Jim Weber to drive the next phase of the company’s growth.

Rocky Brands reported fourth-quarter earnings that were nearly double Wall Street’s targets as sales ran up 93.4 percent. For the full year, adjusted net income jumped 40.9 percent on an 85.4 percent sales gain.

Big 5 Sporting Goods, Inc. forecasted a sharp decline in first-quarter results as the chain faces elevated pandemic demand in the year-ago period. However, Big 5 officials expect the improved margin rates seen over the last two years to continue.

Acushnet Holdings Corp., the parent of Titleist, Footjoy and KJUS, reported sales came in better-than-expected in the fourth quarter, jumped 33.2 percent overall for 2021, and are expected to expand around mid-single digits in 2022. David Maher, Acushnet’s president and CEO, told analysts that demand across product lines and regions continues to outpace pandemic-strained supply.

Kohl’s Inc. estimated that sales growth in the fourth quarter was impacted by approximately 400 basis points as a result of deteriorating supply chain disruption, but earnings topped expectations due to gross margin improvement. Kohl’s also provided upbeat revenue guidance for the current year with the benefit of Sephora in-store shop roll-outs, expected improved stock levels, and continued momentum across active categories.

Fox Factory Holding Corp. reported sales in its Specialty Sports Group bicycle components segment surged 46.7 percent in the fourth quarter despite continued supply chain constraints. Fox said it will take another nine months to 12 months to fully replenish inventory levels.