In his first quarterly analyst call since stepping down as CEO in 2019 to become executive chairman and brand chief, Kevin Plank said that while Under Armour has strengthened its “strategic operational and financial foundations” over the last several years, the search is ongoing for a permanent CEO who can “drive more robust top-line growth and increase profitability over the long term.”
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JD Sports Appoints New CEO
JD Sports appointed Régis Schultz as its new CEO. Schultz was president of retail for Dubai-based Al-Futtaim Group since 2019.
Under Armour Lowers FY Earnings Guidance On Margin Contraction
Under Armour, Inc. reported first-quarter results that matched profit expectations and slightly topped on revenue. The company maintained its full-year revenue outlook but reduced its earnings outlook amid continued gross margin pressures. On an adjusted basis, EPS is expected in the range of 47-to-53 cents a share compared to the previous expectation of 63-to-68 cents.
Weyco Group Sees 29 Percent Q2 Growth
Weyco Group Inc.’s earnings improved in the second quarter ended June 30 as sales were up 29 percent. Bogs increased 35 percent to represent record second-quarter sales.
Clarus Battles Supply Chain Strains To Deliver Q2 Beat
Clarus Corp. reported profits and sales topped Wall Street’s targets in the second quarter despite supply chain disruption across segments. Full-year guidance was raised for its Precision Sports, or ammunition segment maintained for its Outdoor segment, led by Black Diamond Equipment, and lowered for its new Adventure segment. On a conference call with analysts, Clarus’ […]
Clarus Bangs Out 57 Percent Q2 Revenue Gain
Clarus Corp. reported profits jumped 105 percent for the second quarter ended June 30. Sales grew 57 percent, boosted by the acquisitions of Rhino-Rack and Maxtrax as well as 22 percent organic sales growth. Sales of the Outdoor segment, led by Black Diamond, increased 17 percent. The company maintained its full-year guidance.
Xponential Fitness Signs Master Franchise Agreement In Japan For CycleBar
Xponential Fitness Inc. has signed a Master Franchise Agreement in Japan for CycleBar.
EXEC: VF Corp. Not Yet Feeling Impact Of Inflationary Pressures
VF Corp’s profits and sales for the fiscal first quarter ended July 2 were largely in line with plan amid weakness in China and foreign currency headwinds. Highlights included double-digit gains for The North Face and Timberland. Steve Rendle, chairman, president and CEO, said VF’s premium brands have not yet felt the impact of macroeconomic pressures.
Smith Expands Partnership With Alterra Mountain Company
Smith announced it renewed and expanded its partnership with Alterra Mountain Company as the exclusive product sponsor of eyewear and helmets among 15 Alterra-owned resorts across North America, targeting a multi-season approach to provide resort visitors protective gear, including Smith’s snow and bike helmets and the brand’s proprietary ChromaPop lens technology across sunglasses and goggles. […]
Smith Expands Partnership With Alterra Mountain Company
Smith announced it renewed and expanded its partnership with Alterra Mountain Company as the exclusive product sponsor of eyewear and helmets among 15 Alterra-owned resorts across North America targeting a multi-season approach to provide resort visitors protective gear, including Smith’s snow and bike helmets and the brand’s proprietary ChromaPop lens technology across sunglasses and goggles. […]
EXEC: Columbia Sportswear Lowers Outlook As Consumer Spending Wanes
Columbia Sportswear Co. slashed its guidance as sales weakness in June continued into July, with the blame being attributed to inflation and recessionary concerns. Officials told analysts the lower earnings guidance also reflected continued supply chain disruption and heightened promotion risks due to elevated market inventories.
FDRA: Families Plan To Spend Same Or More On Back-to-School Shoes
The Footwear Distributors and Retailers of America (FDRA), in collaboration with First Insight, conducted a survey that shows 78 percent of families plan to spend more, or the same, as last year on their kids’ shoes.
VF Corp. Lowers FY Outlook Due To Currency Impact
VF Corp. reported sales on a currency-neutral basis rose 7 percent in its fiscal first quarter ended July 2 as 37 percent growth at The North Face offsetting a 4 percent slide at Vans. Earnings and sales were below analyst targets, and VF lowered its guidance for the year to reflect ongoing negative impacts from foreign currency fluctuations.
Xponential Fitness Sees Strong Growth In Second Quarter
Xponential Fitness Inc., franchisor of boutique fitness brands, provided second quarter 2022 operating highlights, including same-store growth of 25 percent.
Exec: Skechers Provides Cautious Outlook Despite Strong Q2
Skechers USA’s sales and earnings topped its guidance in the second quarter, but the company maintained its outlook for the year given escalating macroeconomic headwinds worldwide. David Weinberg, COO, told analysts Skechers expects to have opportunities to gain share should the economy slow. He said, “We do have the opportunity, as in the past, to take advantage of an adverse situation by offering the right product at the right price.”
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