SGB Executive Sportsmans
Academy Sports and Outdoors, Inc. said a slow start to fall selling due to warmer temperatures as well as continued weak consumer demand caused third-quarter results to miss plan, resulting in a downward revision to full-year guidance. CEO Steve Lawrence said on an analysts call, “We feel like we don’t have a challenged strategy. We’ve got a challenged customer.”
Fifteen months after cutting 300 jobs across its global workforce, the parent of the Vans, TNF, Dickies, Timberland, Smartwool, Jansport and other active lifestyle brands, is at it again, confirming Wednesday that another 500 jobs would be eliminated this week.
Led by online selling and boosted by promotions, sales on Black Friday and over the past weekend topped or came in line with modest expectations, according to multiple survey reports and Wall Street analysts.
While Vista Outdoor’s stock has seen an uptick following news of Colt CZ making an unsolicited offer to acquire the company for $30 per share, or for $1.74 billion, analysts believe Vista’s board will reject the offer and follow through on its planned sale of Vista’s ammo business to Czechoslovak Group.
Colt CZ Group has made an unsolicited offer to acquire the company for $30 per share, or $1.74 billion, potentially derailing a planned sale of Vista’s Sporting Goods business to Czechoslovak Group (CSG) and spinoff of the Outdoor Sports segment.
Samsonite International S.A. reported sales from its Gregory backpack brand grew 23 percent in the third quarter while an overall recovery in travel led to similar gains for the overall company.
The Montreal-based boot maker is celebrating its 125th anniversary of protecting feet from wet, chilly, slushy, and icy conditions. CEO Gillian Meek talked with SGB Executive about the company’s roots, the benefits of Canadian manufacturing, the brand’s strength in kid’s boots, and more.
Year-to-date revenue attributable to footwear manufacturing activity, including athletic/outdoor shoes, casual shoes and sports sandals, decreased by 20.4 percent to US$3.50 billion as average selling prices rose in mid single digits.
New CEO Chris Hufnagel said WWW continues to reshape its portfolio, reduce inventory and redesign the company to become consumer-obsessed brand builders, focused squarely on building compelling products and telling amazing stories.
Under Armour reported sales and earnings in the fiscal second quarter ended September 30 topped analyst targets, but annual sales guidance was reduced due to further deterioration in the North American wholesale business. CEO Stephanie Linnartz told analysts, “Several forces are at play here, including inflation and consumer confidence, normalizing inventory levels amid still broad promotions, and overall softness in our future wholesale order book.”
Clarus Corp. reported that Black Diamond’s sales improved sequentially from the second quarter and were down modestly in the third quarter as the North American region showed signs of stabilization to offset softness in its European business.
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.