Under Armour Lifts FY Guidance On Surprise Q2 Profit
Under Armour, Inc. reported a loss of $305 million in the second quarter after absorbing charges related to the settlement of a shareholder lawsuit, but posted a surprise profit excluding the charges and slightly raised its adjusted earnings guidance for the year. Sales declined 10 percent, dragged down by a 14 percent slide in North America.
Yeti Raises FY Outlook on Strong Q2 Results
Yeti Holdings ,Inc. raised its guidance for earnings and sales for the year as second-quarter results topped analyst targets. Adjusted earnings in the quarter rose 36 percent on a 15 percent revenue gain.
EXEC: Mountain Warehouse Submits $5M Stalking Horse Bid for EMS Assets
UK-based Mountain Warehouse has emerged as the stalking horse bidder for Eastern Mountain Sports with a $5 million bid to acquire the EMS intellectual property. EMS parent company GoDigital Media Group filed for bankruptcy in June.
EXEC: Saucony and Merrell Gaining Traction, But Remain Down Sharply in Q2
Wolverine Worldwide became one of the few companies in the outdoor space to hike its full-year guidance in recent months after seeing second-quarter results come in better than expected due to the margin benefits from its transformation plan and traction gained by its Saucony and Merrell brands.
EXEC: Callaway CEO Unveils Strategic Review of Topgolf as Q2 Results Disappoint
The parent of the Callaway Golf, Topgolf, Travis Mathew, Odyssey, Ogio, Jack Wolfskin brands is doing a full strategic review of Topgolf, including an assessment of organic strategies to return Topgolf to profitable same-venue sales growth, as well as inorganic alternatives, including a potential spin-off of Topgolf.
TSG Consumer Partners Appoint Head of Strategic and Operational Services Group
Dori Konig brings over 20 years of finance, strategy, and operating experience to the role. Most recently, he was the managing director at global investment firm Platinum Equity, where he led the company’s East Coast Operations.
Boot Barn Fiscal Q1 Earnings Easily Top Expectations
Profits at Boot Barn, Inc. advanced 13.4 percent in the fiscal first quarter. Sales grew 10 percent from new stores, 1.4 percent same-store growth and 6.7 percent e-commerce growth.
Allbirds Sees Q2 Sales Drop 27 Percent
Allbirds, Inc. reported a net loss in the second quarter ended June 30 as sales shrunk 26.8 percent. The eco-friendly footwear brand said it is prioritizing three main focus areas designed to return to top line growth in 2025,
Ford and N+ To Release Bronco and Mustang Inspired E-Bikes
“These new e-bikes will allow more people to experience the adventurous spirit of a Bronco and the exhilaration of a Mustang from the moment they grip the handlebars.” —Tyler Hill, Global Brand Licensing Manager, Ford Motor Company
OR and Surf Expo Parent Narrows Q2 Loss on Flattish Revenue Decline
The Emerald Holding revenue decrease was attributed to prior-year discontinued event revenue of $3.7 million and scheduling adjustments of $1.1 million, partially offset by organic growth of $2.6 million as well as $1.7 million in revenue from acquisitions.
Wolverine Worldwide Raises FY Outlook on Early Payback from Turnaround Efforts
Wolverine Worldwide reported earnings fell 21 percent in the second quarter as sales on an ongoing basis sunk 18 percent due to steep declines at Merrell and Saucony, but the company still raised its sales and earnings guidance for the year as its turnaround program is driving better-than-expected results.
EXEC: VF CEO Not Ready to Predict When Growth Returns
With July 17 marking his one-year anniversary, Bracken Darrell, VF Corp’s president and CEO, cited a number of accomplishments under his tenure, including significantly reducing debt, inventories and costs on the company’s first-quarter analyst call. The sales decline in the latest quarter also moderated versus the prior quarter, but Darrell declined to predict when growth would turn positive.
Solo Brands Lowers FY Guidance on Softening Demand
Solo Brands, Inc. reported results in the first half exceeded expectations, but the parent of Solo Stove reduced its full-year outlook due to deteriorating trends so far in the third quarter.
Stio to Open New Storefront in Steamboat Springs, Adds Key Leadership Roles
The storefront will open in late September, its eleventh retail location and second in Colorado. Stio recently hired Senior Director of Retail Kris Nelson and Natalie Oshin joined the company as merchandising director.
Traeger Narrows Q2 Net Loss as Margin Bump Partially Offsets Sales Declines
The net loss was $2.6 million, or 2 cents per diluted share, in the second quarter, compared to a net loss of $30.2 million, or 25 cents per diluted share in the second quarter of last year. GM rose 600 basis point year-over-year.
