EXEC: Titleist Parent Gains Q3 Boost from Healthy U.S. Golf Market
Acushnet Holdings Corp., the parent of Titleist and FootJoy, reported third-quarter earnings and sales topped Wall Street expectations on strength in the U.S. golf market. On an analyst call, David Maher, president and CEO, said the U.S. is outpacing markets overseas in both golf rounds played and consumer spend due to resilient golf enthusiasts.
NRF Sees 3 to 4 Percent Growth in Holiday Spending
The National Retail Federation (NRF) delivered its annual holiday forecast, predicting sales during November and December will be between 3 percent and 4 percent higher over 2022, similar to pre-pandemic levels.
Birkenstock Makes Loan Repayments Following IPO; Debt Now at €1.3 Billion
The company made an early repayment of $450 million on its U.S. dollar Term Loan B and €100 million on its euro Vendor Loan. Both loans were solely issued to finance the acquisition of Birkenstock by L Catterton in April 2021.
Titleist Parent Lifts Annual Earnings Outlook on Golf Club and Ball Strength
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported net earnings rose 10.6 percent in the third quarter on a 6.3 percent revenue gain. The increases were led by double-digit growth in club sales with with a 6.3 percent increase in balls. Revenue guidance for the year was reaffirmed and earnings guidance slightly raised.
Crocs, Inc. Lowers Outlook On Continued HeyDude Weakness
Crocs, Inc. topped expectations for Q3 but guidance for the year was reduced as sales targets for HeyDude for the year were reduced for the second straight quarter.
Report: Authentic and WHP Global Exploring Champion Acquisition
Hanesbrands, the parent company of Champion, has had “wide interest” from parties, including WHP Global and Authentic, in acquiring the brand since the company announced in late September that it was considering a possible sale.
EXEC: Canada Goose Shares Fall to All-Time Low on Luxury Slowdown, Weak Outlook
Shares of Canada Goose, Inc. reached an all-time low of $9.81 in over-the-counter trading as the outerwear maker axed its outlook for the year amid concerns over luxury spending, China’s recovery and warm weather.
Rocky Brands’ Q3 Profits Improve 20 Percent
Rocky Brands, Inc. reported profits rose 20 percent in the third quarter ended September 30 due to the benefits of pricing actions taken in the second half of 2022 as well as lower costs. Sales were down 14.8 percent in the period but the rate improved versus the second quarter with a benefit from improved retailer inventory positions.
Deckers Brands Promotes Fox to Senior Marketplace Manager
Deckers Brands promoted Lindsey Fox to senior marketplace manager, trend and lifestyle. She was previously a senior account executive with Deckers for nearly five years.
Christy Sports Appoints Chief Marketing Officer
The retailer hired Danielle Quatrochi as chief marketing officer. In 2015, Quatrochi was honored as an SGB 40 Under 40 recipient when she worked as the VP of digital at The Finish Line, Inc. She also spent nearly ten years working at Nike.
Canada Goose Appoints New CFO
Neil Bowden, Canada Goose deputy CFO, will move into the CFO role when current CFO Jonathan Sinclair moves to president, APAC region, both effective April 1, 2024.
U.S. Consumer Confidence Drops for Third Consecutive Month
The Conference Board said its consumer confidence index fell to 102.6 in October from an upwardly revised 104.3 in September. Economists polled by Reuters had forecast the index slipping to 100.0 from the previously reported 103.0
Brooks Running Eyes Return to Double-Digit Growth In 2024
Brooks Running’s global revenue grew 5 percent in the first nine months of 2023, with North America revenue increasing 7 percent. The Seattle, WA-based running brand, owned by Berkshire Hathaway, reported it “remains the leading running footwear brand across U.S. retail and forecasted a return to double-digit growth in 2024.”
Canada Goose Slashes Outlook On Spending Slowdown
Canada Goose reported earnings topped guidance in the fiscal second quarter ended October 1, but slashed its outlook for the fiscal year as sales slowed “noticeably” in September. The company said, “Increasingly challenging global macro-economic and geopolitical environments that have impacted consumer decision-making and prioritization of spend.”
Vans Sales Director Departs Brand After Two+ Decades, Lands at RVCA
While VF execs were outlining the issues at Vans, the brand’s former sales director, Lance Eddy, was trying on his new RVCA duds, readying for his next gig as sales director of the street and beach lifestyle apparel brand.
