SGB Executive Sports & Fitness

EXEC: Sport Chek, Helly Hansen Parent Pulls Growth Targets Amid Consumer Spending Retreat

Canadian Tire Corp, the parent of the Canadian Tire chain and Sport Chek, reported a drop in quarterly revenue, as demand for sporting goods and home improvement items slowed at its stores. The retailer also said it was withdrawing its previously disclosed financial targets for 2022-2025 as it battles high inventory costs and strained consumer spending.

EXEC: Yeti CEO Talks Return to Double-Digit Growth in Fourth Quarter

Shares of Yeti Holdings rose about 17.3 percent Thursday after the drinkware and cooler maker raised its guidance for the year after second-quarter results handily topped Wall Street targets. Speaking to analysts, Matt Reintjes, president and CEO of Yeti Holdings, predicted a return to double-digit growth in the fourth quarter as the firm recovers from a massive recall and taps success with newer product families and line extensions.

EXEC: Nautilus Sees Direct Business Improving on Momentum in Strength Products

Nautilus Inc., the parent of Bowflex and Schwinn fitness equipment, significantly reduced its loss in its fiscal first quarter ended June 30 due to improved margins and lower costs. Sales were again down sharply with retail segment sales impacted by high marketplace inventories, but the direct segment showed improving trends, including flat sales across strength products.

EXEC: Under Armour Reduces North America Guidance on Wholesale Softness

Under Armour reported results for the fiscal first quarter ended June 30 came in line with expectations amid progress reducing inventory levels while reiterating its overall guidance for the year. However, sales guidance was reduced for North America as the brand was unable to overcome due to stubborn challenges at U.S. wholesale.

EXEC: Analysts Gaining Confidence in Adidas’ Turnaround

While some still see an uphill battle for Adidas to regain share in the competitive landscape, the majority of analysts covering the stock were encouraged by the progress the company made in the second quarter toward a turnaround, including building momentum in its underlying business on the back of the “terrace” trend.

EXEC: Titleist Parent Sees Continued Benefit from Golf’s Pandemic Boost

Acushnet Holdings Corp.’s second-quarter results topped analyst estimates as the momentum in Titleist golf balls and golf clubs offset weakness at FootJoy. David Maher, president and CEO, told analysts, “Supporting the company’s first half results, we are enthused by the golf industry’s overall health and stability with participation remaining vibrant even as golfers return to many pre-COVID activities.”