SGB Executive Sports & Fitness
Amer Sports Q2 Impacted by Restructuring, Sales Set To Pick Up In Back Half
Heikki Takala, president and CEO, told analysts Amer saw strong growth in most of its strategic priority areas. These include apparel, up 22 percent; owned retail, up 25 percent overall with same-store sales growth of 7 percent; e-commerce, vaulting 45 percent; and China, up 20 percent.
Puma Rides Women’s Momentum To Robust Q2
On a press conference call, Bjørn Gulden, Puma’s CEO, particularly credited Puma’s success in reestablishing traction in the footwear category and ongoing momentum in women’s. He said, “We still have a lot improve and I don’t celebrate this as a huge success but it’s another step in the right direction.”
Shimano Lowers Full-Year Guidance On Subpar First Half
Blaming weak economies in many regions of the world, Shimano Inc. reported earnings and sales declined in the first half and lowered its earnings guidance for the full year.
Luxottica Sees North America Return To Growth In Q2
On a conference call with analysts, Stefano Grassi, CFO, said the wholesale gains were driven by sales to independent opticians and key accounts that more than offset the weakness of the department store and sports channels.
VF Lifts Outlook On North Face And Vans Momentum
VF Corp. raised its guidance for the year due to stronger-than-expected growth in the second quarter in its Outdoor & Action sports coalition, driven by its Vans and The North Face; as well as above-plan sales across its its D2C channel, led by digital.
Hibbett’s Shares Crash On Profit Warning
Shares of Hibbett Sports Inc. tumbled $6.60, or 33.5 percent, to $13.10 on Monday after the sporting goods chain warned that second-quarter results would arrive far short of expectations.
Skechers’s Q2 Growth Heats Up
Skechers said it continues to be the leading walk, work and casual footwear brand and is second for the categories of all footwear and all casual athletic.
Aisle Talk, Week Of July 17
Top headlines from the active lifestyle industry you may have missed this week.
Academy Sports Lays Off 100 In Restructuring
The layoffs, which follow a similar round of layoffs at its largest competitor, Dick’s Sporting Goods, come as the company has “identified new areas of focus where our energy and dollars will make a real difference as we continue to write our strategic growth story.”
Accell Group Sees Steep Revenue Decline in North America
The decline was due in part of the sale in April 2016 of Seattle Bike Supply, its parts & accessories activities in the region, as well as disappointing sales to multi-sports chains.
Sports Direct’s Profits Dragged Down By Weak Pound
On a conference call with analysts, Mike Ashley, CEO and owner, said the company is now expecting an improved U.K. performance at Sports Direct partly because the company had “smashed the ball out of the park” with its investment in more up-market flagship stores.
Thule Sees European Momentum Offset Softer Americas In Q2
Thule Group’s sales in the Americas region rose 2 percent adjusted for currency fluctuations in the second quarter “in a challenging market,” according to Thule CEO and President Magnus Welander.
Dick’s Shutters Chelsea Collective
Dick’s said in a statement provided to SGB Exec: “We opened Chelsea Collective stores as a lab to more thoroughly understand the women’s specialty athletic business. As the leases at both locations are expiring soon, we have concluded the very successful experiment. We have learned a great deal from Chelsea Collective and the valuable insights will be transferred to Dick’s Sporting Goods to better serve our female customers.”
TomTom Reviewing Options For Sports Segment
Citing disappointing sales, TomTom took an impairment charge to cover the entire goodwill of its Consumer segment of €169 million and said it is reviewing options, including a sale of its Sports business.
Play It Again Sports Parent Sees Modest Q2 Profit Gain
Winmark Corp., the parent of Play It Again Sports, reported net income for the quarter ended July 1, 2017 of $5.8 million, or $1.29 a share, up from $5.4 million, or $1.25, a year ago, representing a gain of 7.4 percent.
