SGB Executive Sports & Fitness
Callaway Golf Delivers Another Blowout Quarter
Shares of Callaway Golf were trading ahead 12 percent in early-afternoon trading Friday as the company’s second-quarter sales and earnings easily topped projections. With earnings and sales exceeding guidance for the sixth straight quarter, Callaway again raised guidance for the year.
Acushnet’s Raises Revenue Outlook As Growth Accelerates In Q2
Acushnet Holdings Corp., the parent of Titleist and Footjoy, lifted revenue guidance for the year after reporting a return to double-digit growth in the second quarter.
Garmin Raises Wearable Stakes With Expanded Sensor Technology
Garmin Ltd.’s ability to meet growing customer demands for better technology in wearables was on display in the company’s Q2 earnings report. Garmin reported better-than-expected quarterly profit in the second quarter ended June 30 and raised its full-year forecast in the process.
Can Champion Offset Loss Of Target Mega-Deal?
Shares of HanesBrands fell $4.30, or 19.3 percent, to $17.96 on Wednesday after management said the wildly-successful C9 by Champion line would be exiting Target once the contract expires in January 2020. Gerald W. Evans Jr., Hanesbrands CEO, said the brand is close to maturity on Target’s selling floors and the company was sticking to its target for Champion’s global sales to reach over $2 billion by 2022.
Weakness In Camping, Water Sports Sinks Big 5 Sporting Goods’ Q2
Poor weather around the country stymied the sales of camping and water sports products at Big 5 Sporting Goods Corp. stores in the back half of the second quarter, driving down income and revenue for the company during the period.
Nomura Downgrades Acushnet On Valuation, Cautions On Under Armour And Canada Goose
Nomura Instinet analyst Simeon Siegel downgraded Acushnet Holdings, the parent of Titleist and Footjoy, to “Neutral” due to the stock’s recent run-up in price while also expressing valuation concerns on Under Armour and Canada Goose.
Nautilus’ Q2 Retail Momentum Driven By Mass Channel
Nautilus Inc. saw a 5.7 percent gain in sales of the company’s Retail segment, driven by double-digit expansion in the mass retail channel, offsetting weakness in the commercial and specialty channels. The fitness-equipment giant raised the company’s overall sales guidance for the year due to healthy retail results and promising back-half launches.
Beyond Product: Industry Trends, Brand Stories Take Center Stage At OR
New product releases tend to garner most of the headlines at trade shows, but at Outdoor Retailer Summer Market, SGB’s editorial team also wanted to discover what’s happening with brands beyond the latest and greatest gear and apparel. Here are some of the stories and industry trends we found and hints of what’s to come.
Arc’teryx Sales, China Growth Boost Amer Sports In Q2
Double-digit improvement with the Arc’teryx brand and a 21 percent sales growth in China were the primary drivers behind Finland-based Amer Sports’ performance in the second quarter.
Aisle Talk Week of July 23
Top headlines from the active lifestyle industry you may have missed this week, including the U.S. House of Representatives approving the Personal Health Investment Today (PHIT) Act, which allows the use of pre-tax savings accounts for physical activity-related expenses.
Deckers Brands Outlook Disappoints
Deckers Brands handily exceeded the company’s guidance in the first quarter with monster gains from Ugg and Hoka One One. But shares slid on Friday as much of the upside was attributed to earlier-than anticipated shipments and the company only slightly lifted EPS guidance for the year.
Under Armour Takes Bigger Restructuring Hit
Under Armour logged a steep second-quarter loss as the company ramped up the company’s restructuring efforts to further clean up the company’s inventories in the marketplace and reduce the company’s cost structure. The moves are designed to build a sounder foundation to support the company’s promised turnaround starting in 2019.
Americas Region, Chunkier Styles Drive Puma’s Q2 Growth
Puma SE said it scrambled to catch up to a fashion shift toward bulkier footwear to enable it to continue its robust top-line momentum. But due to higher marketing expenses to maintain that growth, Puma wasn’t able to lift its profit outlook for the year.
Wall Street Cheers Lululemon’s CEO Hire
Shares of Lululemon Athletica rose slightly on Wednesday as Wall Street analysts unanimously applauded the hiring of Calvin McDonald, the CEO of the Sephora cosmetics chain, as its next CEO.
What’s Behind Brooks Running’s Shop-In-Shop Initiative?
On June 16, Brooks Running announced the company was partnering with 30 run specialty shops in the U.S. and Canada to launch the company’s first shop-in-shop program. SGB Executive reached out to Mike Billish, VP of U.S. sales, to explore the new program.
