Wolverine World Wide Inc. reported sales rose 4.8 percent in the fourth quarter, boosted by mid-teens revenue growth from Merrell and Sperry and saw earnings top Wall Street’s guidance. For the current year, however, the company provided a soft outlook, citing the negative impact of the coronavirus outbreak.
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Life Fitness To Withdraw From FIBO
Life Fitness has made the decision to withdraw from attending and exhibiting at FIBO, the fitness trade show being held in Cologne, Germany in early April, due to the global concern regarding coronavirus.
Aisle Talk Week Of February 17
Top headlines from across the active lifestyle industry featured in SGB during the week of February 17, 2020.
Lululemon Provides Update On China Operations
Lululemon Athletica Inc. said that following guidance from local authorities, the majority of Lululemon’s 38 stores in China have been closed for a period of time since February 3, 2020, with some now operating on a reduced schedule. The company’s online business has continued to operate.
Puma Again Delivers Broad-Based Growth In Q4
Puma warned that fallout from the coronavirus outbreak will impact first-quarter results but otherwise delivered another stellar quarter with healthy momentum across categories and regions. Among regions on a currency-neutral basis, sales grew 17.6 percent in the Americas, 23.2 percent in EMEA and 14.5 percent in Asia/Pacific.
Gildan Activewear’s Revenues Decline 11 Percent In Q4
Gildan Activewear reported earnings on an adjusted basis were down 6.2 percent in the fourth quarter. Sales fell 11.3 percent as activewear sales were hurt by lower imprintables volumes in North America.
Puma’s Q4 Revenues Climb 21 Percent
Puma reported earnings jumped 55.0 percent in the fourth quarter on a 30.6 percent revenue gain. All regions and all product divisions were up by double digits. Puma warned, however, that the coronavirus outbreak has been impacting 2020 results.
Occupancy Keeps Softening At Mountain Destinations Despite Favorable Slope Conditions
Despite the widely-reported favorable skiing and riding, and robust economic indicators, aggregated data from 18 western mountain communities is showing that lodging occupancy is actually slipping in year-over-year comparisons, according to the most recent Market Briefing released by DestiMetrics from Inntopia.
Outdoor Recreation Segment Underperforms Again For Newell Brands
Newell Brands said its Outdoor & Recreation segment, which includes Coleman, Contigo and Marmot, again saw declines in the fourth quarter with another challenging year for growth expected for 2020.
NBA To Lose ‘Hundreds Of Millions’ In China Over Hong Kong Tweet
NBA Commissioner Adam Silver said on Saturday that the league will likely lose “hundreds of millions of dollars” in lost sponsorships and broadcast revenue from its standoff with the Chinese government after an executive last year tweeted his support for Hong Kong’s protesters.
Famous Footwear’s Q4 Comps Jump 5.1 Percent
Caleres inc. reported consolidated net sales are expected to reach approximately $700 million in the fourth quarter, down 3 percent. Famous Footwear net sales are expected to be approximately $370 million, with same-store sales up 5.1 percent
Aisle Talk Week Of February 10
Top headlines from across the active lifestyle industry featured in SGB during the week of February 10, 2020.
Yeti’s Q4 Sees Sales Expanding Mid-Teens In 2020
Yeti Holdings Inc. reported adjusted net income rose 31 percent in the fourth quarter on a 23 percent revenue gain while predicting another year of healthy double-digit growth for 2020. Matt Reintjes, CEO, told analysts, “Customers continue to embrace the Yeti brand and our innovation.”
Wall Street Reacts: Under Armour Q419
Earnings estimates on Under Armour were slashed by Wall Street in line with management’s guidance with many analysts significantly reducing their outlook for 2021 as well. To many analysts, Under Armour’s fourth-quarter underperformance and the dim outlook underscores the brand’s challenges reviving growth against formidable competitors in North America although a few remain confident the turnaround is only delayed.
Under Armour’s Turnaround Encounters Some Turbulence
Shares of Under Armour Inc. were trading down about 17 percent in mid-day trading Tuesday after the company guided its 2020 outlook well below Wall Street targets with no recovery now expected for North America. UA officials also said it was considering additional restructuring activities that would include abandoning its Fifth Avenue flagship in New York City.
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