Unifi, Inc. reported an operating loss in the first quarter ended October 2 as sales declined 8.4 percent due to temporary demand disruption in the Americas and Asia tied largely to inventory destocking in the apparel space. The fabric company withdrew its guidance for the year due to uncertainty about the timing of a recovery in the apparel sector.
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GoPro’s Q3 Revenues Slip, Subcriptions Jump
GoPro, Inc. reported lower profitability on a modest decline in sales in the third quarter ended September 30 but saw a strong uptick in subscriber count.
EXEC: Crocs Shares Jump After Clog-Maker Lifts Full-Year Guidance
Shares of Crocs, Inc. climbed $9.55, or 14.2 percent, to $76.60 on Thursday after the parent of Crocs and Heydude reported third-quarter results that handily exceeded Wall Street expectations while raising its outlook for the year. Andrew Rees, CEO, said on an analyst call, ““Consumer demand for both the Crocs and Heydude brands is exceptional.”
EXEC: Under Armour’s Shares Pop On Earnings Beat
Shares of Under Armour closed up about 12 percent on Thursday after the company reported better-than-expected earnings for its latest quarter while only slightly lowering its full-year guidance. Under Armour interim president and CEO Colin Browne told analysts on a call, “In a highly challenging retail environment, we’re pleased that we’re able to deliver second-quarter results that were in line with our expectations.”
Gildan Activewear’s Q3 Revenues Advance 6 Percent
Gildan Activewear, Inc. reported that adjusted earnings per share rose 5 percent in the third quarter ended October 2 year over year. Sales advanced 6 percent as a 13 percent increase in activewear sales offset a 26 percent decline in the hosiery and underwear category.
Crocs Lifts Guidance As Q3 Results Beat Plan
Crocs Inc. raised its outlook for the year after reporting third-quarter earnings and sales topped guidance. Sales in the quarter jumped 57.4 percent with Crocs brand expanding 14.3 and Heydude surging 87 percent.
EXEC: Canada Goose Slashes Outlook On China Softening, Macro Concerns
Canada Goose Holdings, Inc. significantly cut its outlook for its fiscal year ending March 2023 as COVID-19 restrictions continue to slow the recovery in China and macroeconomic concerns mount. The downward adjustment comes despite Canada Goose reporting second-quarter results that handily topped analyst targets.
Bogs Revenues Climb 52 Percent In Third Quarter
Weyco Group, Inc. reported North American wholesale revenues at Bogs jumped 52 percent in the third quarter that ended September 30 as overall sales grew 57 percent.
EXEC: Escalade Stymied By Inventory Pruning At Mass Channel
Escalade, Inc. is seeing momentum in pickleball and cornhole but said efforts to reduce inventories by mass merchants led to declining earnings and sales in the third quarter.
EXEC: Newell Brands’ Outdoor Segment Hit By Softening Demand
Newell Brands’ Outdoor and Recreation segment reported an 18.4 percent decline in core sales due to a shift of retailer orders into the first half and softening demand. Newell officials also said they expect the recent pandemic-related benefits to “continue to subside” for its outdoors and home businesses.
ESPN Sells Majority Interest In X Games
ESPN sold its majority stake in the X and Winter X Games to MSP Sports Capital, a sports-focused private equity firm that has stakes in McLaren Racing and some European soccer teams.
Ugg Opens First ‘Feel House’ Pop-Up In Brooklyn
Ugg opened its first Feel House pop-up “dedicated to self-expression,” in the Williamsburg neighborhood in Brooklyn that draws a fashionable crowd.
Hologenix, Creator of Celliant, Unifi, Maker Of Repreve And Beverly Knits Announce Partnership
Materials science manufacturer Hologenix, creators of Celliant and Unifi, maker of Repreve, entered into a partnership with its preferred North American circular knitting partner, Beverly Knits, which operates Creative Dyeing & Finishing, LLC. The three-way partnership will introduce Celliant with Repreve, which has infrared properties. The partnership also allows for producing finished goods within a […]
Hologenix, Creator of Celliant, Unifi, Maker Of Repreve And Beverly Knits Announce Partnership
Materials science manufacturer Hologenix, creators of Celliant and Unifi, maker of Repreve, entered into a partnership with its preferred North American circular knitting partner, Beverly Knits, which operates Creative Dyeing & Finishing, LLC. The three-way partnership will introduce Celliant with Repreve, which has infrared properties. The partnership also allows for producing finished goods within a […]
Thule’s Q3 Sales Drop 23 Percent
Thule reported a sharp decline in earnings on a 23 percent revenue decline in the third quarter due to weakness in the bike channel.
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