SGB Executive Sports & Fitness
EXEC: Academy Sports’ Shares Jump On Upbeat Outlook
Shares of Academy Sports and Outdoors, Inc. closed up $4.63, or 9.3 percent, to $54.57 Thursday as second-quarter earnings topped analysts’ estimates and the retailer reiterated its guidance for the year. Academy officials said sales steadily improved throughout the second quarter as customers responded to its message around value and newness.
EXEC: Symphony Holdings Posts Solid H1 as Brand Division Jumps 24 Percent
The Branding segment, which is comprised of the Skins and Pony businesses, sourcing, manufacturing and trading of healthcare products in Hong Kong and distribution of Sunseeker swimwear, posted a 24.2 percent YoY increase for the first half period. Still, the majority of revenues come from its malls leasing segment.
EXEC: Mainland Headwear H1 Revenues, Profits Fall Double-Digits
The manufacturer and seller of headwear and accessories products said in its H1 report that manufacturers and traders faced the “challenges of built-up inventories waiting to be consumed, weakened new demand and stagnant production and sales.”
EXEC: Saris Plots Continued Recovery Under New Ownership
The bike racks and trainers manufacturer Saris is under new ownership, acquired by C+A Global in October 2022. SGB Executive talked with Stefan Guelpen, head of global sales, about how the company helped stabilize and reposition Saris for growth.
EXEC: Active Lifestyle Well Represented on 2023 Inc. 5000 List
Golftec, Xero Shoes, SylvanSport, Stinger Sports, Bases Loaded and GiantMouse are brands in the wide range of companies in the active lifestyle space to land in Inc’s 5000 for 2023 annual ranking of the fastest-growing private companies in America—a snapshot of companies’ performance from 2019 to 2022.
EXEC: Symphony Holdings Warns of Increased Loss for H1 Period
The company is the owner of the trademark and patent of compression wear brand Skins. The Group also operates the Pony footwear brand in APAC countries, excluding China and Taiwan regions, with Iconix International Inc.
EXEC: Department Stores Stung by Apparel Category Woes
Macy’s, Nordstrom, Kohl’s, and Dillard’s saw sales decline in the second quarter as the retailer’s core apparel category faced promotional pressures and weak demand. The active category was a bright spot for Nordstrom, but continued to struggle at Macy’s and Kohl’s.
EXEC: Hibbett Shares Jump on Q2 Beat, Reiterated Guidance
Shares of Hibbett, Inc. surged 22.2 percent, to $45.03 on Friday after Q2 sales arrived in line with guidance due to a strong start to back-to-school selling and as strength in some better footwear brands offset weakness in secondary brands and franchises.
EXEC: Gap Confident in Athleta’s Turnaround Prospects
Athleta’s same-store sales were down in the second quarter for the third quarter in a row but showed improvement sequentially with sales of performance bottoms accelerating. On its analyst call, Gap Inc. officials expressed confidence in the ability of Athleta’s new leadership team, led by former Alo Yoga’s president Chris Blakeslee, to guide the continued recovery.
EXEC: Globe Sees Hardgoods Woes Cut into Sales, Profits for Fiscal Year
The company posted a double-digit decline in revenues and a sharp downturn in profit in the fiscal year ended June 30 as it struggled with declines in its hardgoods business and the clearance of related inventories, particularly in the U.S.
EXEC: Foot Locker, Inc. Makes Flurry of New Appointments to Address a Changing Marketplace
Foot Locker, Inc. made additional news Wednesday on its conference call with analysts, announcing a flurry of new hires and appointments to solidify the management teams that will focus efforts on the customer experience.
EXEC: On the Call with Foot Locker Execs Talking Q2 Business Trends, Weaker Future Outlook
Foot Locker’s sales trends continue to be a real problem child as total sales and comps both registered high-single-digit declines for the quarter ended July 29. Much of the sales decline came from Champs which comped down in strong double-digits in the quarter on repositioning pain.
EXEC: Peloton’s Stock Hits All-Time Low On Q4 Shortfall, Weak Outlook
Shares of Peloton fell $1.58, or 22.6 percent, on Wednesday to an all-time low of $5.41 after the connected fitness equipment maker posted a wider-than-expected fiscal-fourth-quarter loss and pushed back its cash-flow positive goal to 2024 after it failed to achieve it this year as expected earlier.
EXEC: Kohl’s Finds Active Category Continues “Soft” in Second Quarter
On Kohl’s second-quarter analyst call, Tom Kingsbury, CEO, said the overall active category remained “soft” for the retailer in the second quarter, but outdoor and golf trends were encouraging and Nike, Under Armour and Eddie Bauer showed strength.
EXEC: Anta Sports Gets Fila Lift in H1 as Sales Growth, Op Profit Margins Jump
The company, which runs retail stores in China for the Anta brand, Fila, Descente, Kolon Sport, and Amer Sports, reported that Fila brand retail sales posted 13.5 percent year-over-year growth in the first half.
