SGB Outdoor

Garmin Lifts Outlook On Q3 Beat

Garmin, Ltd. raised its guidance for the year as third-quarter results topped expectations. Among segments, fitness sales grew 26 and Outdoor advanced 7 percent while Marine declined 7 percent.  

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.”

Big 5 Sporting Goods Sees Q3 Profits Miss Plan, Warns on Weak Holiday Quarter

Big 5 Sporting Goods Corp. reported earnings were slightly below guidance in the second quarter ended October 1 as same-store sales dropped 8.2 percent on weak discretionary spending. The California-based chain further predicted same-store sales in the fourth quarter will decline in the high single-digit to low double-digit range.

EXEC: VF’s Turnaround Plan to Focus on Vans, the Americas, Debt and Cost Structure

New company CEO Bracken Darrell said the U.S. is not working well. He noted that the company’s innovation engine has historically been strong but had drifted downward over the past few years. He said employees still love the brands and business, but morale was hurt by poor performance. He also said costs and debt were too high, and there were no sacred cows in the turnaround effort. Vans was the first to see change.