SGB Executive Sports & Fitness
Gildan Activewear’s Q2 Boosted By Margin Gains
Gildan Activewear Inc. said it expects its earnings for the year to now come in at the high end of its guidance range after reporting strong margin improvement drove healthy second-quarter earnings.
Fitbit Readies Smartwatch Holiday Launch
Fitbit logged a steep loss in the second quarter on a sharp sales decline. But shares closed up 77 cents, or 15.2 percent, to $5.84 on Thursday as results came in better-than-expected and officials indicated that its first smartwatch would be arriving in time for holiday selling.
Garmin Outdoor Segment Growth Takes Off
Garmin’s Outdoor segment saw sales catapult 46.3 percent in the second quarter, to $194.8 million. The gains were driven by strong demand for its fēnix 5 watch series.
Champion’s Sales Expand 7 Percent In Q2
Hanesbrands Inc. said sales of Champion grew 7 percent globally in the second quarter, boosted by strength in Europe and online globally. Champion is also expected to grow at a high-single digit rate for the balance of the year.
Delta Apparel’s Manufacturing Realignment Paying Dividends
Delta Apparel Inc. reported another quarter of impressive earnings gains. A realignment of its manufacture structure continues to feed efficiencies and cost savings that’s offsetting weakness in its Soffe and Salt Life brands in traditional sporting goods channels.
Big 5 Q2 Dragged Down By Weakness In Firearms, Camping And Water Sports
Shares of Big 5 Sporting Goods were down 85 cents, or 7.8 percent, to $10.10 on Wednesday after the sporting goods retailer posted second-quarter revenues that fell short of expectations due to weakness in firearms, camping and water sports. Third-quarter earnings are also expected to decline with comps off in the low single digits.
Under Armour Axes 277 Jobs Amid Restructuring
Shares of Under Armour fell $1.88, or 10.4 percent, to $16.23 Tuesday after the company reduced its annual sales and earnings forecast while announcing a restructuring plan that includes the layoff of 277 employees.
Nautilus Q2 Impacted By Ongoing TreadClimber Weakness
Nautilus reported earnings and sales slid in the second quarter and came in short of Wall Street’s targets as continuing weak sales of the TreadClimber within its Direct business offset strength in its Retail segment.
Fanatics’ Raphael Peck Talks League Deals
While the industry’s major players have inked blockbuster licensing deals over the last two years, including Under Armour (MLB), Nike (NBA) and Adidas (NHL), Fanatics has more quietly secured part or all of the licensing rights for the fan piece of the licensing pie. Raphael Peck, president of Fanatics Branded, discusses the new NHL jersey set to launch this September and Fanatics’ ongoing vertical transformation.
Escalade’s Q2 Boosted By Fitness And Basketball Momentum
Boosted by strength in its fitness and basketball product categories that offset margin pressures in archery, Escalade Inc. reported operating earnings in the second quarter rose 11 percent on an 8.1 percent revenue gain.
Columbia Sportswear Launches Project CONNECT Execution Plan
While reporting second-quarter results that were slightly better than expected, Columbia Sportswear announced that it had launched a new transformation plan, entitled Project CONNECT, to adjust to the “accelerating structural change” facing retail.
Aisle Talk, Week Of July 24
Top headlines from the active lifestyle industry you may have missed this week.
Brunswick’s Fitness Segment Sees U.S. Growth Challenged By Changing Gym Routines
Mark Schwabero, Brunswick Corp.’s CEO, stated, “As we assess the current U.S. market we believe that traditional clubs are slowing investments as they evaluate alternatives in response to some changing exercise preferences.”
Adidas Lifts Outlook For Second Time This Year
Revenues are now expected to increase between 17 and 19 percent on a constant currency basis for the year, compared to previous estimates of 12 to 14 percent growth.
Deckers Q1 Boosted by Early Delivery And Healthy Re-Orders
Benefiting from earlier-than-expected shipments and strong reorders for both its Ugg and Hoka One One brands, Deckers Brands reported first-quarter earnings and sales that came in well above targets.
