EXEC: Giant Group Sees China Q1 Gains Offset by Inventory Reduction, OEM Sales Elsewhere
The Taiwan-based manufacturer of bikes, bike parts and components reported that the sharp sales decline came despite increased bike sales in China offset by inventory reductions in Europe and North America and order adjustments from OEM customers.
GU to Open First Overseas Flagship Store in New York in Fall 2024
GU (pronounced as the letters “G” and “U”) was founded in 2006 as a sister brand of Uniqlo and operates approximately 470 stores in Asia, mainly in Japan; this is the first official opening of a store outside of Asia.
Nextorch Signs Elite Outdoor Sports for Sales Representation
Elite Outdoor Sports is a full-service sales and marketing agency with a global reach. Representing hunting, shooting and law-enforcement equipment manufacturers.
Nite Ize Adds Two Indie Sales Agencies in U.S. Market
Effective immediately, the company is partnering with Action Sports, Inc. serving the Southeast, and Sanitas Sales Group, located in Colorado and covering the West.
Super Pacific Makes New Hires, Key Promotions and Expands Facility to Fuel Growth
Philip Kuroda was hired in the newly created position of B2B sales manager and Jessica Johnson was promoted to general manager of operations. The company is adding new square footage to its facility and the production team was expanded with new hires to support cutting, sewing and fabrication.
Firearm & Ammo Companies Contributed $222M to Conservation in Q4 via Excise Tax
Firearm and ammunition manufacturers topping $17 billion in excise tax contributions to the Wildlife Restoration Trust Fund since its inception in 1937, or more than $27.38 billion when adjusted for inflation.
EXEC: Leatt Posts Another DD Decline in Q1 as Body Armor and Helmets Sales Falter
Sales to the company’s global distributors decreased by 31 percent as distributors continue to manage industry-wide stocking dynamics, while consumer direct sales increased by 15 percent and dealer direct sales increased by 9 percent in Q1.
EXEC: Key Footwear Factory Report Sees Flat Q1 and Unsettled Market for 2024
The Group believes the global footwear industry will remain unsettled in the near term amidst the uncertain macroeconomic environment driven by persistent inflation, high interest rates, regional conflicts, and its impact on shipping lanes.
EXEC: Havaianas owner Alpargatas Shows Modest Growth In Q1
Alpargatas, the Brazilian parent of the Havaianas, Rothy’s and Ioasys brands, reported net revenue reached Brazil Real (R$)931.8 million in the first quarter, climbing 3.2 percent compared to the same period in 2022. For the flagship Havaianas brand, strength in Brazil offset declines in the U.S. and Europe.
EXEC: Xtep Intl Divests K-Swiss Brand to Focus on Merrell and Saucony in China
The move is designed to carve out the consistently underperforming segment from Xtep’s portfolio, allowing the company to concentrate its resources on developing its highly profitable brands – core Xtep brand, Saucony, and Merrell.
EXEC: Solo Brands CEO Outlines Early Progress on Turnaround Plan
Solo Brands, Inc. reported first-quarter sales and adjusted EBITDA topped expectations and noted progress is being made in repositioning its brands for growth. On an analyst call, Chris Metz, CEO, said Solo Stove saw improving DTC trends while Chubbies benefited from the early arrival of a shorts campaign.
Crocs Expands Takeback Program Across U.S.
Crocs retail and outlet stores in the U.S., excluding Hawaii and Puerto Rico, now have collection boxes for customers to drop off Crocs shoes in any condition and receive a one-time 10 percent discount on Crocs products in-store or online.
EXEC: Yeti Shares Jump as Q1 ProfIts and Revenue Fly Past Estimates
Shares of Yeti, Inc. jumped about 11 percent Thursday after the company reported that lower freight and product costs drove first-quarter earnings well above Wall Street targets, leading to raised EPS guidance for the year. Sales grew by double-digits for the second consecutive quarter.
EXEC: Vista Outdoor Sees Another Tough Year Ahead
Vista Outdoor, Inc.’s fourth-quarter results met expectations with sales at its Kinetic Group ammunition segment reaching the lower end of guidance while the Revelyst outdoor segment grew organically for the first time in nine quarters. However, conservative guidance was provided for the new fiscal year as market conditions in both the hunt and outdoor channel remain challenging.
CNBC/NRF Retail Monitor Shows Growth in April Retail Sales
The Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
