Under Armour’s Q4 Tops Guidance, Warns Of Supply Chain Challenges
Under Armour Inc. reported fourth-quarter earnings and sales exceeded Wall Street targets. Sales guidance was also raised for the current quarter but margins are expected to be impacted by lingering supply chain constraints.
The North Face Leases Office, Showroom Space In Seattle
The North Face has signed a lease for 6,414 square feet of office and showroom space at the newly-constructed Fremont Crossing Building project in Seattle, WA according to Pastakia + Associates, a Seattle-based development firm.
Callaway Golf’s Q4 Tops Expectations On Topgolf Recovery
Callaway Golf Company reported a loss in the fourth quarter ended December 31 but results exceeded Wall Street’s targets due to a continuing recovery at Topgolf and ongoing momentum at its apparel and golf equipment businesses. Sales surged 89.9 percent in the period. Callaway predicted sales would expand 21 percent in 2022.
Kohl’s Responds To Director Nominations From Macellum Advisors
Kohl’s Corp. responded to the nomination of ten directors for election to the retailers’ Board of Directors by Activist investor group Macellum Advisors by noting that its Board now includes three independent directors that joined as part of a settlement with Macellum and other shareholders in April 2021.
Asics’ Revenues Climb 23 Percent In 2021
Asics reported that despite the effects of COVID-19, net sales increased 22.9 percent in its year ended December 31 due to strong sales in all regions, mainly driven by the Performance Running category and the Core Performance Sports category. The biggest regional gains were seen in North America, up 31.8 percent; and Greater China, 27.9 percent.
Activist Investors Nominates 10 Candidates For Kohl’s Board
Activist investor group Macellum Advisors GP LLC has named the slate of 10 board members that it will nominate at Kohl’s Corp.’s next investor day, scheduled for March 7.
Canada Goose Lowers Guidance On Q3 Miss
Canada Goose Holdings Inc. reported earnings rose 49.2 percent in the third quarter ended January 2 as sales grew 26.2 percent. However, results were slightly below Wall Street’s targets and guidance was lowered for the year due to lower than expected revenue and retail traffic in APAC and EMEA in the current quarter, alongside new variant outbreaks and restrictions.
Academy Sports’ Debt Ratings Upgraded
S&P Global Ratings upgraded its debt ratings on Academy Sports + Outdoors, Inc. as the sporting goods chain “continues to post strong gains in sales and EBITDA resulting in better leverage.”
Amer Sports’ Debt Upgraded On Faster-Than-Expected Deleveraging
S&P Global Ratings raised its debt ratings on Amer Sports on its expectations that the sporting goods giant would report a “resilient” operating performance in 2021 with estimated €2.5 billion revenue, up 7 percent to 8 percent above pre-pandemic levels.
PVH Corp. Appoints CFO
PVH Corp. announced the appointment of Zac Coughlin as executive vice president and chief financial officer effective April 4, 2022. Coughlin joins PVH from DFS Group Limited, a subsidiary of LVMH Group.
Congested U.S. Ports Should See Slight Reprieve In First Half Of 2022
Imports at the nation’s congested container ports are expected to grow modestly during the first half of 2022, but continued high volume will keep up the pressure that built as the economy bounced back from the pandemic last year, according to the monthly Global Port Tracker report released by the National Retail Federation.
ASB Sports Rebrands As Game One
ASB Sports, the Holland, OH-based team dealer, announced a rebrand under the name, Game One, that will consolidate its eight-owned dealers.
Mizuno Posts Record Profits In Nine Months
Mizuno Corp. said its operating profits reached their highest levels in the nine months through December 31 since quarterly disclosure started in FY08. Sales rose 17.0 percent in the period, led by the Americas and EMEA.
Orvis Appoints Chief Brand Experience Officer
Orvis appointed former Athleta CMO Sheila Shekar Pollak to the newly created role of chief brand experience officer.
Descente Revenues Climb 15 Percent In Nine Months
Descente reported an operating profit against a loss in the nine months through December 31 on a 15.1 perfect revenue gain.
