EXEC: Wrapping Up the Less-Than-Jolly Holiday Forecasts For Retail
Holiday forecasts arriving in recent weeks roundly forecast sales will slow this year versus pandemic stimulus-boosted gains in recent years. However, while many expect a “resilient” consumer will drive solid gains similar to pre-pandemic levels, some see inflationary and macroeconomic concerns weighing disproportionately on discretionary spending.
Unifi First-Quarter Impacted by Weak Apparel Orders
Unifi, Inc. reported sales fell 22.7 percent in the fiscal first quarter ended October 1 due to “weak demand and depressed ordering patterns” in the apparel sector. The makers of Repreve-branded recycled and synthetic yarns, based in Greensboro, NC. posted a loss in the period.
October U.S. Employment Numbers Fall Short of Expectations
Many noted that the 150,000 increase in jobs and the 3.9 percent unemployment rate were in line with the pre-pandemic employment picture and some wondered if maybe, just maybe, the market was getting back to normal.
Report: Foot Traffic Data Sees Possible Boost for Sporting Goods Retail for Black Friday
Year-over-year visit gaps at Recreational & Sporting Goods chains, Electronics Stores and Department Stores widened significantly since the end of August, but more recent data looks a little more promising, with all three categories now seeing their visit gaps begin to shrink.
EXEC: BOA, Primaloft and Velocity Outdoor Drag on Parent’s Q3 Results
Brand aggregator Compass Diversified saw Q3 sales decline 25 percent at BOA, 16 percent at Primaloft and fall 28 percent at Velocity Outdoor, while revenues grew 13 percent at Marucci Sports and 7 percent at 5.11. The company reported it was selling Marucci.
Evolv Adds Independent Sales Agency for MegaWest Territory
The SoCal-based climbing shoe brand hired the Three Saints Outdoor sales agency to expand the brand’s footprint in climbing gyms and retail stores throughout the Western U.S.
Lazydays Swings to Net Loss in Q3 on Mid-Teens Revenue Decline
The chain of RV dealerships posted a net loss was $5.6 million in Q3, compared to net income of $7.7 million for the corresponding period in 2022 as third quarter revenue decreased 15.9 percent year-over-year to $280.7 million.
EXEC: Boot Barn Cuts Q3 and Full Year Outlook as Retail Turns Sour
Fiscal Q2 retail store same-store sales declined 3.8 percent and e-commerce same-store sales declined 11.7 percent year-over-year. Comps were said to be in line with expectations through August, but September experienced softer-than-expected results and that trend reportedly continued into October.
Christy Sports Appoints New CEO, Marketing and Merchandising Chiefs
Christy Sports appointed Pete LaBore as chief executive officer, Mimi Nuelle as chief merchandising officer, and Danielle Quatrochi as chief marketing officer.
VF Corp.’s Debt Ratings Outlook Revised To Negative by S&P
S&P Global Ratings reduced its debt ratings outlook at VF Corp. on the company’s fiscal second-quarter report which came in below the rating agency’s base-case forecast with leverage increasing further to 4.4x compared with 3.6x in the same prior year period.
Compass Diversified Posts Flattish Q3, Sells Marucci Sports
Owner of Velocity Outdoor, BOA, Marucci, Primaloft, 5.11, and other businesses in the active lifestyle space, reported that third quarter net sales were $569.6 million, down 1 percent compared to $575.8 million in the third quarter of 2022.
Fox Factory Slashes Guidance on Impact from Auto Strike/Elevated IBD Inventories
Fox Factory Holding Corp. reported third-quarter sales came in well below guidance while significantly lowering its outlook for the year due to the impact of the United Auto Workers strike and continued inventory destocking in bike channels.
EXEC: Vista Fine-Tunes New Structure, Leadership for Revelyst and Ammo Company
Vista Outdoor took the opportunity Thursday morning to update the market on the progress and process of the sale of the ammo segment and provide an opportunity for the new leadership of the two businesses to walk through the latest quarter.
Anglers All Fly Shop & Boathouse to Open in Denver Early 2024
The Denver shop will add to the Anglers All brand based in Littleton, CO, where the original fly shop is, along with the newly opened Boathouse.
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.
