SGB Executive Sports & Fitness
GoPro Sets Six-Point Sales Revival Plan
Wrapping up a disappointing holiday campaign, GoPro reported fourth-quarter results that came in even below a severe downward revision given only on January 8. But management said a move to lower prices in early December had boosted sell-throughs and listed six priorities for 2018 designed to build on that traction.
Stifel Lifts Fitbit From “Sell” To “Hold”
Stifel upgraded Fitbit from “Sell” to “Hold” while lowering its 12-month target price to $5.50 from $6.
Oppenheimer Upgrades Foot Locker
Oppenheimer upgraded Foot Locker to “Outperform” due to strong innovation arriving from Nike, ongoing momentum at Adidas and a pickup in mall traffic.
Academy Sports Faces Layoffs Again
Following a round of layoffs last summer, Academy Sports + Outdoors said it will be laying off approximately 140 corporate employees largely due to the outsourcing of certain IT functions at the retailer.
Hello Denver! (Take Two)
SGB reached out to a number of attendees of the inaugural Outdoor Retailer + Snow Show and heard largely positive feedback. Comments from Klean Kanteen, Vasque, Bogs, Pro-Tec, Massey Outfitters, OrthoLite, Croakies, Implus, Sweet Protection, Maine Outdoor Brands, Walls Outdoor Goods, Dare 2b, Craghopppers, Free Country, Kamik, MSR and Honey Stinger.
Hello Denver! (Take One)
With healthy traffic in the aisles extending into the last two days of the show for many exhibitors, the inaugural Outdoor Retailer + Snow Show was largely a hit. Comments from SCARPA, LEKI, OOFOS, SIA, Smartwool, Osprey Packs, Kari Traa, Oboz, Mountain Khakis, Downlite Outdoor, Stanley, Honeywell Retail and Seirus. More responses to come Thursday.
Should Boomer Women Fitness Enthusiasts Feel Ignored?
According to a study from JWT London Innovation Group, older Boomer women “feel invisible or ‘edited-out’ when it comes to the leisure and fitness category.”
Susquehanna Sees VF Benefiting from Entrepreneurial Spirit
Susquehanna lifted its estimates and price targets on VF Corp. in part due to a greater entrepreneurial push across brands being established by Steve Rendle, who became CEO at the start of 2017.
Rawlings Hits the Selling Block
Newell Brands said it planned to explore selling many of its brands, including Rawlings, to focus on nine core consumer divisions. The Rawlings’ business also includes Worth and Miken.
Aisle Talk, Week of January 22
Top headlines from the active lifestyle industry you may have missed this week.
Outdoor Retailer + Snow Show off to Strong Start
“2017 was wild. 2018 is our new beginning,” said Marisa Nicholson, show director for Outdoor Retailer Thursday morning at the annual OIA Industry Breakfast. “The beginning of a more unified industry as we welcome our friends from the snow sports industry.”
IHRSA Report Shows Healthy Fitness Market
According to the 2018 IHRSA (International Health, Racquet & Sportsclub Association) Health Club Media Report, an all-time high of 57.3 million people belonged to a health club in 2016, a 3.6 percent increase from 2015 and up grown by 26.4 percent from 2009.
GoPro Downgraded by Morgan Stanley
Morgan Stanley lowered its rating on GoPro Inc. to “Underweight” from “Equal Weight.” The analysts, led by Yuuji Anderson, warned that GoPro could be in for a “long year ahead” given “limited earnings power” and weak demand for its new camera line.
Susquehanna Upgrades Dick’s SG To Positive On Weather Benefit
Believing the retailer’s fourth-quarter results should surprise on the upside given management’s conservative guidance and the benefits of cold weather, Susquehanna Financial Group raised its rating on Dick’s Sporting Goods to “Positive” from “Neutral.”
Sheikh Shoes To Pursue Sale
Shiekh Shoes, in bankruptcy proceedings since November 29, is now exploring a sale of the chain as well as a reorganization with current owners.
