SGB Executive Sportsmans
EXEC: GoPro Gets Q2 Sales Lift on Lower Prices, Return to Retail Doors
GoPro said it saw an immediate retail sales and GoPro subscription lift in the second quarter as a result of its mid-quarter go-to-market strategy shift that included a return to pre-pandemic pricing and a greater emphasis on retail sales.
EXEC: Ruger’s Q2 Sales Up, EPS Down and Some Inventories at Pre-Pandemic Levels
Sturm, Ruger & Company, Inc. reported second-quarter net sales were $142.8 million, compared to net sales of $140.7 million in the year-ago quarter. Diluted earnings were 91 cents per share for Q2, compared to $1.17 per share in the prior-year period.
EXEC: Retail Inventory Woes Impact Q2 Sales at BOA and Primaloft; Marucci and 5.11 See Gains at CODI
Brand aggregator Compass Diversified (CODI) saw first-quarter sales decline 36 percent at BOA and 18 percent at Primaloft as both businesses continued to be impacted by stubbornly elevated inventories in the marketplace. Among CODI’s other active lifestyle brands, revenues grew 35 percent at Marucci Sports and 5 percent at 5.11 while sliding 30 percent at Velocity Outdoor.
EXEC: Boot Barn Ups Full-Year Outlook as Fiscal Q1 Improves and Q2 Off to Strong Start
Fiscal first-quarter net sales increased 4.9 percent to $384 million. The sales performance was said to benefit from new stores opening during the past 12 months, partially offset by a consolidated same-store sales decline of 2.9 percent.
EXEC: Rocky Brands Sees Brand Momentum Build After Tough Start to Q2
Notwithstanding the slow start, at-once orders reportedly improved month-over-month as the quarter progressed and the trend continued into July, providing a good start to the third quarter creating optimism that channel inventories are getting properly aligned with demand.
EXEC: Vans’ and Dickies’ Sharp Q1 Declines Offer Rude Welcome for New VF CEO
Vans has an outsized impact on the fiscal first quarter while The North Face, Timberland, Jansport, and others have more impact in the back half of the year.
EXEC: Columbia Sportswear Axes Outlook on Expectations of Promotional Second Half
On Columbia Sportswear’s Q2 analyst call, Tim Boyle, chairman, president and CEO, said softer sell-through trends in the U.S. due to “cautious consumer behavior” and elevated inventory levels, particularly in footwear, caused the company to slash its guidance for the year.
EXEC: Big 5 Unable to Overcome Slow Start to Summer Selling
Big 5 Sporting Goods Corp. saw its core market in El Segundo, a city in Los Angeles County, CA, where it is headquartered, baking in extreme heat in recent weeks. Still, president and CEO Steve Miller told analysts that cool weather in the early months of the second quarter ended July 2, caused sales to fall below the retailer’s already low target.
EXEC: Brunswick Corp. Reports Lower Q2 Results Due in Part to IT Security Incident
On June 13, the company announced it was impacted by an IT security incident, which ultimately resulted in financial results that were lower than initial expectations.
UPS and Teamsters Reach Five-Year Deal, Averting Strike
UPS and the International Brotherhood of Teamsters, representing about 330,000 UPS employees in the U.S., have reportedly reached a tentative collective bargaining agreement.
Shimano Pares Forecast Again as First Half Sales Trends Worsened
Shimano, Inc. again slightly lowered its outlook for the 2023 full year after reporting earnings declined in the first half on a 13.3 percent revenue decline, accelerating the decrease seen in the first quarter.
Rapala VMC Cutting Jobs, Looking for Cash as H1 Results Disappoint
Rapala VMC reported that current market conditions continue to pose challenges as the de-stocking process at the retail and wholesale levels has persisted for a longer duration than the company initially anticipated.
Thule, Inc.’s Q2 Sales Fall on Continued Cycling Inventory Imbalances
Thule, Inc. reported another challenging quarter as sales fell 15 percent in the Swedish company’s second quarter. The decline was attributed to weak bike-related product sales as retailers focused on reducing inventory levels.
EXEC: American Outdoor Brands Eyes Return To Growth, Potential For $400 Million In Revenue
America Outdoor Brands said it strengthened its balance sheet, generated significant operating cash flow, controlled costs, and continues to invest for its long-term growth but full-year net sales were $191.2 million, a decrease of 22.8 percent, compared with the prior year and an increase of 14.2 percent over pre-pandemic fiscal 2020.
EXEC: Smith & Wesson Bullish On Year Ahead After Tough Fiscal 2023
Looking at the top-line numbers for Smith & Wesson Brands, Inc. over the last three years would lead one to believe that this is a company in trouble, as fiscal year sales plummeted nearly 55 percent from its peak of more than $1.0 billion in fiscal 2021, but that metric would only reveal part of the story
