SGB Executive Sports & Fitness
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: 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: 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.
EXEC: Moncler S.p.A. Sees Consumer Confidence, Weaker Q3 Weigh on YTD Results
In the third quarter, Group revenues were €635.5 million, down 3 percent constant-currency compared to the same period of 2023, cutting into the year-to-date trend increase of 6 percent at constant exchange rates.
EXEC: Big 5 Sees Improving Sales Trends Leading into Holiday Season
The retailer saw the Apparel and Footwear categories each down ~9 percent and Hardgoods was down ~6 percent in Q3 but a number of product categories are contributing to the improvements in sales trending, including the early rates in fall and winter apparel.
Brooks Running Reaches $1 Billion Milestone in Nine-Month YTD Period
The gains in the third quarter were said to be boosted by a 10 percent year-over-year increase in North America, led by 16 percent e-commerce growth. Revenues grew 10 percent in the EMEA region, reportedly fueled by 24 percent e-commerce sales growth.
EXEC: Adidas Settles with Kanye, But Yeezy Hangover Still a Drag on Strong Third Quarter
With this settlement, Adidas unwound a €100 million provision related to outstanding legal issues over the Yeezy break-up and now plans to also donate that sum to charities. Including the €100 million, total funds earmarked for charity related to the Yeezy inventory sell-off now stand at about €250 million.
EXEC: Shimano Returns to Growth in Third Quarter on Cycling Uptick
Shimano, Inc. reported its first sales increase in several quarters as a recovery at its bicycle components offset a slight decline in its fishing tackle business.
EXEC: Leatt Corporation Ekes Out a Positive Revenue Quarter in Q3 as DTC Sales Jump
The company was said to be “very encouraged” by the results of the 2024 third quarter, calling it a “pivotal quarter” as global revenues returned to growth, “albeit still marginal at this stage.”
