SGB Executive Sports & Fitness
Nautilus Shares Plunge On Lowered Outlook
On a conference call with analysts, Bruce Cazenave, CEO, said the lowered guidance reflects additional investments planned to create momentum for HVT. Retail growth will also moderate in the fourth versus the third due to the timing of launches.
Wall Street Reacts: Nike 2017 Investor Day
Wall Street generally applauded Nike’s plans to ramp up its commitment to innovation and build digital connections spelled out at its Investor Day event last week, but a few were looking for greater insights into near-term trends, especially visibility into when the North America region may recover.
VF Corp. Upbeat For Holiday
In an interview with SGB. Steve Rendle, president and CEO of VF Corp., said that while October started “a little slow,” sales have picked up as “the weather began to become more fall like” and the company remains optimistic about holiday selling. He also said he remains bullish on The North Face and Timberland regaining top-line momentum.
Aisle Talk, Week Of October 23
Top headlines from the active lifestyle industry you may have missed this week.
Columbia Sees U.S. Wholesale Returning To Growth First Half Of 2018
Columbia Sportswear’s third-quarter results came in better than expected as growth overseas and in its U.S. DTC business offset another steep decline in U.S. wholesale revenues. But officials predicted U.S. wholesale growth would resume in the first half of 2018.
Callaway Golf’s Momentum Accelerates
Callaway Golf reported third-quarter results that handily exceeded guidance with healthy gains across all regions. The upside was driven by strength in its woods business, continued growth in golf balls, and the successful integration of its new business ventures: Callaway Apparel Japan, OGIO and now, TravisMathew.
Amer Sport Sees Sales Picking Up
Driven by apparel, direct-to-consumer and China, Amer Sports reported sales on a currency-neutral basis rose 3 percent in the third quarter, accelerating from a 1 percent gain seen in the second quarter. Strong growth in apparel, Fitness, and Winter Sports offset declines in cycling, sports equipment and ball sports.
Nike Investor Day: Still Bullish On Growth
At its Investor Day, Mark Parker, Nike’s CEO, said he expects digital revenues to expand from 15 percent of revenues to 30 percent over the next five years. Over half of its sales growth over that period will come from “new innovation concepts that will scale across multiple categories.” About 75 percent growth will come from outside the U.S.
HanesBrands’ Downgraded Over Champion’s Growth Concerns
Oppenheimer lowered its rating on HanesBrands Inc. due in part to signs of slowing growth and competitive pressures at Champion.
Shimano’s Profits Slump In Nine Months
Shimano reported earnings slumped 46.3 percent in the first nine months of the year due to a weak cycling market.
Puma Talks Rihanna Brand Benefits, Promotional Fears
On a media call following the report of above-plan third-quarter results, Bjørn Gulden, Puma’s CEO, detailed how Rihanna was boosting the brand’s women’s business while also indicating a promotional climate in both the U.S. and Europe may crimp fourth-quoter sales gains.
Luxottica’s North America Sales Still Impacted Oakley Integration
The eyewear giant said the “restructuring of Oakley’s sport and retail channels and changes in the LensCrafters business still weighed on sales in North America.”
Vans, DTC Power VF Corp.’s Brawny Q3
On a currency-neutral basis, Vans jumped 26 in the third quarter as the Americas grew 22 percent, Europe increased 39 percent and Asia Pacific advanced 23 percent. On the same basis, global sales declined 3 percent at North Face and 2 percent at Timberland, in part due to some fall shipments shifting to the fourth quarter.
Lululemon Upgraded On “Overblown” Amazon Fears
“We believe recent mkt concerns (Amazon, denim, weather) are overblown, and we believe current levels represent an attractive entry point for one of the best performing brands (and long term growth stories) in all of retail,” Citi analyst, Paul Lejuez, wrote in a note to clients.
Skechers Q3 Powered By International Growth
Led by gangbuster gains in international markets and a gritty performance in the challenging U.S. marketplace, Skechers USA reported earnings in the third quarter that handily topped estimates.
