SGB Executive Sports & Fitness

EXEC: Dick’s SG Beats Q3 Expectations, Bullish on Holiday Selling

Boosted by a “very strong” back-to-school selling season, Dick’s Sporting Goods posted above-plan third-quarter results, lifting its guidance for the year. Lauren Hobart, president and CEO, told analysts, “We are pleased with how our consumer is holding up within the sporting goods industry and then particularly that they’re choosing Dick’s increasingly to meet their needs.”

EXEC: Foot Locker Shares Downgraded by BTIG Analysts

BTIG is taking the opportunity to step to the sidelines despite continuing to believe in the “significant low-hanging fruit at FL and the company’s potential as CEO Mary Dillon implements her playbook.”

EXEC: Gap Sees Athleta’s Recovery Taking Longer Than Planned

Athleta’s sales declined 18 percent in the third quarter against “heavy discounting” a year ago and are expected to decline double-digits in the fourth quarter as the retailer’s recovery from recent fashion miscues has taken longer than expected.

Baird Sees Reawakened Investment Opportunity For Team Sports

In a recent analysis from Baird, the investment firm and financial services company forecasted that tech advances, improved player performance and safety features, elevated traditional and social media exposure, and other economic factors will accelerate the future of team sports participation, benefiting from both the sporting goods industry and its investors.

Fila Holdings’ Sales Slide On Fila Brand Weakness

Korea-based Fila Holdings Corp. reported sales fell 8.3 percent in the third quarter as a 35.1 percent decline at the Fila brand segment offset a gain of 3.3 percent at Acushnet (Titleist, Footjoy). Fila brand’s sales tumbled in the U.S. due to the impact of elevated inventories.

EXEC: On Delivers Record Quarterly Results, Elevated Inventories Concerning

Swiss running brand On delivered its seventh consecutive record quarter in revenues and achieved its highest gross margin since its August-2022 IPO. However, shares closed down slightly on Tuesday due to concerns over elevated inventory levels and its ability to deliver growth to match On’s stock’s high multiple.

EXEC: YTD Footwear Shipments Fall Nearly 25 Percent at Yue Yuen

Year-to-date revenue attributable to footwear manufacturing activity, including athletic/outdoor shoes, casual shoes and sports sandals, decreased by 20.4 percent to US$3.50 billion as average selling prices rose in mid single digits.