Moody’s Places Vista Outdoor’s Ratings On Review For Downgrade
Moody’s Investors Services placed Vista Outdoor Inc.’s ratings on review for downgrade following its “very weak” quarterly operating results.
Deckers Sets Action To Resolve Marcato Lawsuit
Deckers Brands announced that its Board of Directors has taken the actions to address and deem resolved a lawsuit filed by an affiliate of Marcato Capital Management LP, the activist shareholder that’s seeking to replace Deckers board with its own candidates.
Christy Sports Expands Rocky Mountain Reach
Randy England, director of marketing at Christy Sports, told SGB, ”BD allowed us the opportunity to expand our footprint in Telluride and venture into a new market, Taos. They are a respected fixture in specialty ski retail with an outstanding reputation for customer service, like Christy Sports.”
Aisle Talk, Week Of November 6
Top headlines from the active lifestyle industry you may have missed this week.
Gander Mountain’s Return Now Set For 2018
Camping World has delayed the opening of its first Gander Outdoors locations until the first quarter but still expects to open 55 to 65 in 2018. Along with Overton’s, TheHouse.com, and Uncle Dan’s, Camping World expects its acquired outdoor lifestyle businesses to drive “north of $300 million” in revenues by 2019.
K2 Skis Names Ryan McBride Head of U.S. Sales
K2 Skis announced that 10-plus year company veteran Ryan McBride is now leading the brand’s U.S. sales.
Shares of Vista Outdoor Collapse On Impairment Charges, Slashed Guidance
Shares of Vista Outdoor fell $5.19, or 28.1 percent, to $13.24 Thursday after the company drastically cut its earnings guidance for its fiscal year amid more impairment charges while also announcing plans to sell its Bollé, Serengeti and Cébé brands and eliminate the Shooting Sports segment president position.
Canada Goose Boosts Guidance On Blowout Q2
Again benefiting from orders being pulled forward due to strong demand as well as a sterling performance from its direct-to-consumer (DTC) channel, Canada Goose Holdings Inc. reported results in the second quarter ended September 30 that handily topped Wall Street’s targets. The company significantly raised its guidance for both earnings and sales for the year.
Canada Goose Raises Outlook On Robust Q2
Canada Goose Holdings Inc. sharply raised its outlook after reporting better-than-expected results for the second quarter ended September 30. “Our performance reflects the power of our brand around the world and our disciplined approach to executing our growth strategies. We have opened e-commerce sites in all seven of the new markets planned for fiscal 2018 […]
Camping World’s Q3 Sales Jump 25 Percent
Camping World Holdings Inc., the parent of Gander Mountain and Overton’s, reported net earnings rose 24.6 percent in the third quarter ended September 30 on a 25.0 percent revenue gain.
Cocona’s Patent Infringement Lawsuit Moving Forward
After various procedural delays related to motions filed by Columbia Sportswear, the United States District Court for the District of Colorado issued a series of orders that will allow the lawsuit filed by Cocona Inc. against Columbia Sportswear and The North Face for violating U.S. Patent No. 8,945,287 B2 to proceed in Colorado, according to a statement from Cocona.
Adidas’ Q3 Earnings Jump 35 percent
Adidas AG reported net earnings rose 35 percent in the third quarter as sales improved 12 percent on a currency-neutral basis. The gains were driven by Greater China, up 28 percent, and North America, ahead 23 percent, driven by the Adidas brand.
Sport Chek Sees Modest Comp Gain In Q3
Canadian Tire reported sales its FGL Sports segment were up 0.5 percent in the third quarter with same-store sales were up 0.4 percent. Same-store sales at Sport Chek were up 0.4 percent.
Vista Outdoor Accelerates Restructuring Efforts
While reporting a second-quarter loss, Vista Outdoor took combined charges of $152 million for write downs in its Sports Protection and Hunting and Shooting Accessories businesses. The company also announced plans to sell Bollé, Serengeti and Cébé and the elimination of the Shooting Sports segment president position.
Safilo Group’s Earnings Slide In Q3
Safilo Group, the parent of Smith, reported adjusted EBITDA declined 19.6 percent in the third quarter.
