SGB Executive Sportsmans
EXEC: Solo Brands CEO Outlines Early Progress on Turnaround Plan
Solo Brands, Inc. reported first-quarter sales and adjusted EBITDA topped expectations and noted progress is being made in repositioning its brands for growth. On an analyst call, Chris Metz, CEO, said Solo Stove saw improving DTC trends while Chubbies benefited from the early arrival of a shorts campaign.
EXEC: Yeti Shares Jump as Q1 ProfIts and Revenue Fly Past Estimates
Shares of Yeti, Inc. jumped about 11 percent Thursday after the company reported that lower freight and product costs drove first-quarter earnings well above Wall Street targets, leading to raised EPS guidance for the year. Sales grew by double-digits for the second consecutive quarter.
EXEC: Vista Outdoor Sees Another Tough Year Ahead
Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.
EXEC: Wolverine Worldwide CEO Outlines Transformation Progress To-Date
The company is beginning to see sequential improvement in its selling trends and that is said providing a level of confidence that the developed strategies and tactics are beginning to gain traction.
EXEC: Black Diamond Returns to U.S. Growth in Q1, Posting DD Gain as Inventory Clears
By fall of 2025, all of our apparel and packs will be PFAS free, but there will likely be some residual PFAS inventory to clear in the first half of next year. BDE also made to exit the ski bindings business in the first quarter.
EXEC: BOA Fuels CODI’s Q1 Branded Consumer Group; Primaloft Sees Order Growth
BOA grew revenues and adjusted EBITDA by 13 percent and 15 percent, respectively in the first quarter of 2024. Bookings outpaced revenue growth, which supports expectations of a strong 2024.
EXEC: Fenix Outdoor Sees Q1 Sales Decline, but DTC Shines
Brands segments, which includes Fjällräven, Royal Robbins, Hanwag, and Fenix Outdoor, had sales of €45.2 million in the first quarter, falling 14.9 percent from €53.1 million in the prior-year first quarter.
EXEC: Big 5 CEO Details Q1 Challenges; Offers Tepid Outlook for Near Term
The retailer has continued to feel the effects from the ongoing macro headwinds that are impacting consumer discretionary spending in the second quarter-to-date as same-store sales are running down despite a benefit from an extra day due to the Easter shift.
EXEC: Thule Gets Shot in the Arm from Resurgent Bike Business in Q1
In the Americas, the recovery of the cycling market boosted bike-related products sales, but Packs, Bags & Luggage category sales declined due to “significantly lower” sales of legacy products that are phasing out gradually.
EXEC: Columbia Using Temp Stores to Offload Excess Goods as it Fights to Right-Size
While the company is focused on improving the Columbia, Sorel and Prana businesses through investments in innovation and marketing, the company only has to look as far as its Mountain Hardwear brand and new leadership and direction to see early results of similar efforts.
EXEC: Osprey and Hydro Flask Both Expanding Product Ranges and Distribution
Osprey should strengthen internationally with growth in the EMEA and APAC on demand for travel packs, while the U.S. will expand in sporting goods. For Hydro Flask, it’s all about color and configuration in the U.S. while expanding in tge EMEA through Osprey’s distribution footprint.
EXEC: Vista Outdoor Re-Engages with MNC Capital on Potential Buy-Out Interest
Given that the current deal with CSG has raised more than a few eyebrows in the U.S. Congress from those that see an issue with selling an American ammo maker to a foreign entity, it sounds like Vista may see it as more prudent to keep all options open.
EXEC: Under Armour’s HR Chief and DEI Leader to Exit Company
Tchernavia Rocker’s departure represents the second female senior executive planning to exit the company in the last two months. Rocker joined UA in February 2019 as chief people and culture officer.
EXEC: CSG Taps JP Morgan Financing for the Vista Outdoor Ammo Deal
Czechoslovak Group issued a statement reaffirming its commitment to the proposed all-cash acquisition of Vista Outdoor, Inc.’s ammunition business for a total consideration of $1.91 billion, with fully committed financing from JP Morgan Chase.
EXEC: Sportsman’s Warehouse Kicks Off ‘Spring Reset’ to Clean Inventory, Grow Sales
Wall Street reacted positively to the planned changes, and the Q4 earnings beat as SPWH shares surged 21 percent on Thursday, closing at $3.79 a share. The inventory reduction efforts were said to be $10 million better than planned.
