SGB Executive Sports & Fitness
Camping, Firearms, Classic Footwear Drive 2016 Sporting Goods Revenues
Camping, firearms, classic footwear, soccer and lacrosse were among the strongest selling categories for the sporting goods industry last year, according to the just-released 2017 Sports & Fitness Industry Association (SFIA) Manufacturers’ Sales by Category Report.
Gander Mountain Files For Chapter 11
Gander Mountain Co., as expected, filed for bankruptcy in U.S. Bankruptcy Court for the District of Minnesota. The hunt & fish specialist plans to close 32 of its approximately 160 stores in coming weeks but is in active discussions with a number of parties interested in a going-concern sale.
Hibbett’s Q4 Dragged Down By Legacy Sports Categories
Said Jared Briskin, SVP and chief merchant, ”The continued declines of some of our legacy businesses such as performance apparel and footwear, licensed products and equipment continue to reinforce our direction, focusing on sports-inspired fashion products for our stores.”
Genesco’s Q4 Boosted By Lids Profit Rebound
Lids Sports Group doubled its operating profit in the fourth quarter on an 8 percent same-store gain, offsetting weakness at Journeys due to a fashion shift.
Aisle Talk, Week Of March 6
Top headlines from the active lifestyle industry you may have missed this week.
Dorel Sports Stung By Delays In Bike Purchases
Martin Schwartz, president and CEO of Dorel Industries, said, “Dorel Sports has worked throughout 2016 to position itself for an earnings rebound this year, excess industry inventories have been reduced and the ramp in discounting should not be repeated.”
JackRabbit’s New Owner Eyes Expansion
Said Bill Kirkendall, CEO of JackRabbit, in an interview with SGB, “Our strategy is to consolidate all stores under the JackRabbit banner and grow organically and through acquisitions.”
Adidas Ramps Up Growth Goals
In his second quarterly conference call since taking over as CEO of Adidas AG, Kasper Rorsted strongly bumped up the company’s long-term growth outlook while announcing several new initiatives to support its five-year ‘Creating the New’ business plan.
Adidas Brand Stars In Q4
Adidas Brand’s gain of 18 percent on a currency-neutral basis was driven by double-digit growth in the running category as well as at Adidas Originals and Adidas Neo. In addition, high-single-digit growth in the training category contributed to the top-line improvement.
Black Diamond Returns To Core Focus For 2017
“The recurring take-away was retailers’ perception that Black Diamond had been distracted over the past four to five years by various strategic initiatives,” said John Walbrecht, president, about his discussions with retailers since joining the company five months ago.
Dick’s To Eliminate 20 Percent Of Its Vendor Mix
While reporting fourth-quarter earnings that arrived slightly ahead of targets, Dick’s Sporting Goods Inc. said it’s implementing a new merchandise and vendor matrix that will reduce up to 20 percent of its brands.
Aisle Talk, Week Of February 27
Top headlines from the active lifestyle industry you may have missed this week.
Sequential Brands Lowers Outlook On Department Store Woes
While many of its active brands performed well in the fourth quarter and are poised for a strong year in 2017, Sequential Brands Groups lowered its guidance for 2017 due in large part to weakness in the department store channel.
Finish Line Sells JackRabbit For Nothing
As part of the sale agreement, Finish Line made a payment of $8.3 million into the JackRabbit business as part of pre-closing restructuring and must make an additional $700,000 payment to the buyer, CriticalPoint Capital, on or before September 30, 2017.
Big 5 Boosted By Competitor Exits
“We’re very encouraged that the profit and sales momentum has continued and actually accelerated into the first quarter of fiscal 2017,” CEO Steven Miller said on a conference call with analysts.
