Adidas said it expects first-quarter sales to fall more than 10 percent as revenues in Greater China tumble between €0.8 billion and €1.0 billion below the prior-year level due to the coronavirus outbreak. The guidance assumes a decline of about €100 million in Japan and South Korea while the rest of the world grows at a currency-neutral 6 percent to 8 percent.
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ISA TanTec Opens Second Tannery, Resumes Normal Production In China
In the wake of the coronavirus, TransAsia TanTec, ISA TanTec, issued a release that its second tannery in Vietnam—and fifth in the world—started trial production last week with a projected monthly capacity of 1.5 million square feet after the trial production is completed.
Dick’s Q4 Earnings Rebound Continues, Hunt Category To Exit Most Stores
Dick’s Sporting Goods reported earnings in the fourth-quarter that again topped Wall Street’s targets as same-store sales jumped 5.3 percent. Plans for 2020 included big investments in golf and soccer categories as well as women’s overall. But all the attention went to the retailer’s decision to remove the hunt category from another 440 stores.
Dick’s Q4 Earnings Beat Targets, To Remove Hunt From 440 Stores
Dick’s Sporting Goods reported fourth-quarter earnings topped Wall Street’s expectations as same-store sales rose 5.3 percent. The retailer also announced it was removing the hunt category from another 440 stores.
SFIA Cancels National Health Through Fitness Day Events
The Sports & Fitness Industry Association cancels the National Health Through Fitness Day, scheduled to take place on March 10-11 in Washington, DC.
Sea Otter Classic Postpones April Event
The Sea Otter Classic, the outdoor cycling festival held in Monterey County, CA, has postponed its April event.
Boston Pro Show Offers Arnold Sports Festival Expo Vendors A Free Booth
The Boston Pro Show and Fitness Expo have offered to help displaced vendors and sponsors who were prevented from attending this past weekend’s Arnold Sports Festival Expo in Columbus, OH, due to global coronavirus concerns.
Freemotion Fitness To Forego IHRSA 2020 Trade Show
Freemotion Fitness said that due to the recent announcement of a state of emergency in California, the ongoing global concerns, and uncertainty over the spread of the Coronavirus, it has made the “difficult decision” to withdraw from IHRSA 2020 in San Diego.
Precor Decides Not To Attend IHRSA Due To Convirus Concerns
Precor said it won’t attend the IHRSA 2020 trade show in San Diego “due to the recent increase in coronavirus related health risks” and staff concerns.
Hyperice And NormaTec Aim To Bring Recovery To The Masses
Hyperice’s merger with NormaTec is expected to help both companies accelerate their growth. But NormaTec’s CEO Gilad Jacobs tells SGB Executive that the bigger impact will be helping drive both companies’ shared goal of bringing recovery solutions to everyday people.
Once Dust Settles With AOBC Shakeup, New Entities Could Thrive
The fiscal third quarter brought significant change to American Outdoor Brands Corp. (AOBC), whose portfolio includes the iconic firearms maker Smith & Wesson plus several brands in the sportsman’s and outdoor gear categories. Despite some stumbles in Q3, look for AOBC’s post-spinoff companies to prosper.
Aisle Talk Week Of March 2
Top headlines from across the active lifestyle industry featured in SGB during the week of March 2, 2020.
IHRSA 2020 Withdrawal Statement From Kaiser
Keiser Corporation has decided to withdraw from the IHRSA 2020 Convention and Trade Show in San Diego, CA due to the continuing global spread of the coronavirus. Keiser is one of a very few companies that has exhibited at every IHRSA Conference since its inception.Dennis Keiser, President of Keiser, issued a statement.
With Spinoff Pending, AOBC Misses Q3 Estimates
American Outdoor Brands Corp., parent company of Smith & Wesson, on Thursday reported earnings per share for the fiscal third quarter ended January 31 of 13 cents, which missed Wall Streets’ targets by 10 cents. Q3 revenue of $166.7 million was short $20.6 million. The company’s quarterly earnings release comes as a big transition looms.
Department Stores Outperform Q4 Expectations
Four of the five big department stores—J.C. Penney Co., Macy’s Inc., The TJX Cos. Inc. and Kohl’s Corp.—beat Wall Street’s earnings and revenue estimates during the fourth quarter ended February 1. Only Dillard’s Inc. fell shy of analysts’ projections for the period, which included a shortened Holiday Season due to a later-than-normal Thanksgiving and Black Friday.
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