Mizuno Corp reported net profits grew 50.1 percent on a 16.6 percent revenue gain in the fiscal six months ended September 30. Sales were up 26.6 percent in the second quarter.
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Yakima’s Global Organization Structure To Accelerate Growth, Increase Collaboration
Yakima announced, effective immediately, that Ryan Martin, CEO of the Americas Region, had increased responsibilities to drive strategic direction and growth in Australasia (Australia, New Zealand, Pacific Islands) and EMEA (Europe, Middle East, Africa).
Beachbody’s Q3 Exceeds Guidance
The Beachbody Company, Inc. saw sales decline 20 percent in the third quarter that ended September 30, but the subscription health and wellness company delivered third-quarter revenue and adjusted EBITDA results ahead of guidance.
EXEC: Champion Sales Hurt By Order Cancellations
HanesBrands Inc. reported global Champion brand sales slumped 14 percent on a reported basis (9 percent in constant currencies) in the third quarter. On an analyst call, Steve Bratspies, CEO, said Champion was hurt by soft consumer demand in the U.S., order cancellations in the U.S. from late shipments as retailers tightly managed inventory, and lingering COVID challenges in certain Asian markets.
EXEC: Adidas’ Outgoing CEO Defends His Record At Adidas
On his last quarterly conference call as CEO of Adidas, Kasper Rorsted touted his achievements at Adidas and largely attributed the company’s recent shortfalls to the pandemic.
Delta Apparel Adds VP Of Finance
Delta Apparel, Inc., parent company to Delta Apparel, Salt Life and others, tapped Jason Bates as VP of finance for its Delta Group business segment.
HanesBrands Lowers Guidance On Macro-Related Challenges
HanesBrands, Inc. reduced its sales and earnings outlook due to “increased macro-related challenges within the global operating environment.” Third-quarter earnings came in line with expectations despite global Champion sales decreasing 9 percent on a currency-neutral basis.
Wolverine Cuts Outlook On Supply Chain Disruption, Heightened Promotions
Wolverine World Wide, Inc. saw strong double-digit gains at Merrell in the third quarter but overall sales and profitability came in below plan due to supply chain and promotional pressures. The company reduced its guidance for the year.
Adidas Slashes FY Outlook After Kanye West Split
Adidas further slashed its 2022 outlook as it weighed the impact of its split from Ye, the rapper formerly known as Kanye West, while sluggish demand in China continued to impact sales.
EXEC: Clarus Axes Outlook On Adventure Segment Shortfall
Clarus Corp. lowered its guidance for the year as strong demand for its Precision Sport segment, led by Sierra and Barnes, was offset by softer sales in its Adventure segment, which consists Rhino-Rack and Maxtrax. The Outdoor segment, led by Black Diamond, saw strong demand but is facing some supply chain challenges and reduced open-to-buys from larger accounts.
Adidas Makes It Official With Gulden’s CEO Appointment
Adidas AG reported that Bjørn Gulden, Puma’s CEO, will be appointed as a member of the executive board and CEO of Adidas AG, effective January 1, 2023.
EXEC: Wall Street Bullish On Bjorn Gulden’s Potential As Adidas CEO
News that Puma’s outgoing CEO Bjorn Gulden may succeed Kasper Rorsted as Adidas’ CEO was greeted favorably by Wall Street as several analysts were hopeful Gulden may be able to replicate Puma’s recent success at the struggling Adidas. His exit was seen as slightly negative for Puma.
Clarus Reduces FY Guidance
Clarus Corporation reported continued demand for its Outdoor segment, led by Black Diamond and Precision Sport segment and by Sierra and Barnes, in the third quarter ended September 30, but lowered its sales and earnings outlook for 2022 due to lower sales in its Adventure segment and the volatile foreign currency market and higher freight costs.
Culture Kings Opens Flagship Store In Las Vegas
A.k.a. Brands Holding Corp. announced opening the first U.S. Culture Kings flagship store at The Forum Shops at Caesars, a Simon Property in Las Vegas, NV, on November 5.
EXEC: Sturm, Ruger Finds Inflationary Pressures Stalling Firearms Recovery
On its third-quarter analyst call, Chris Killoy, president and CEO, said new products are selling strong but sales of modern sporting rifles and polymer centerfire pistols remain soft as inflationary pressures “constrained discretionary spending.”
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