SGB Executive Sportsmans
EXEC: Under Armour Reduces North America Guidance on Wholesale Softness
Under Armour reported results for the fiscal first quarter ended June 30 came in line with expectations amid progress reducing inventory levels while reiterating its overall guidance for the year. However, sales guidance was reduced for North America as the brand was unable to overcome due to stubborn challenges at U.S. wholesale.
EXEC: Black Diamond Sales Thwarted By Weak Open-To-Buy Orders
Black Diamond’s sales fell 23.7 percent in the second quarter due to a combination of lower consumer demand and continued lower open-to-buys as its primary North American wholesale partners work down inventory levels, according to its parent Clarus Corp. Company officials see improvement but do not expect marketplace inventories to rebalance until year-end.
EXEC: Solo Brands Sees Big Pay-Off at Retail as Q2 Wholesale Jumps
For a company identified by the symbol “DTC” on the NYSE, the conversation for the quarter was interesting as the growth in the wholesale business overshadowed, but did not offset, the decline in its direct-to-consumer business.
EXEC: Johnson Outdoors Battles Post-Pandemic Slowdown
Johnson Outdoors’ overall profitability benefited from improved pricing in the fiscal third quarter ending June 30, but sales were down 8 percent from a slowdown in the Fishing segment and a continued decline in Camping and Watercraft Recreation. On a call with analysts, Helen Johnson-Leipold, chairman and CEO, said, “We’re seeing consumer demand continue to moderate from the strong pandemic-fueled levels of the past few years.”
EXEC: L.L.Bean Expands Wholesale to Dillard’s, Moosejaw and Select Independents
L.L.Bean is adding Dillard’s and Moosejaw to its roster of U.S. wholesale key accounts, as well as ten independent specialty retailers in the southeastern U.S. The Maine-based retailer also plans to open four stores, with two in Quebec.
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.
