Schoeller to Close Swiss Manufacturing Plant, 170 Employees To Lose Jobs
The company cited Switzerland’s high labor and energy costs, the strong Swiss franc, and poor market environment since the pandemic to cover production costs. However, the company will continue production of its high-tech textiles in Asia with no disruption.
NRF: Holiday Spending on Track for Steady Growth Amid ‘Mixed Signals’ on Economic Data
NRF Chief Economist, Jack Kleinhenz, reported in the November Issue of the NRF’s Monthly Economic Review, that it continues to expect steady sales growth for the winter holiday season despite contradictions in the latest economic indicators.
EXEC: Yeti Tops Q3 Targets, Accelerates Sourcing Shift Out of China
Yeti, Inc.’s third-quarter results topped analyst targets, boosted by newer categories, including bags, barware, and cookware. Matt Reintjes, president and CEO, said on an analyst call that the company’s efforts to diversify its supply chain continue to have half of the brand’s drinkware production sourced outside of China by 2025.
EXEC: Ahead, Craft, Cutter & Buck Parent Gets Q3 Lift from U.S. and Sports & Leisure
The Swedish-based owner of Ahead, Auclair, Craft, Cutter & Buck, and Tenson, reported that third-quarter net sales dipped 1 percent, with Sports & Leisure the only segment posting an increase for the quarter.
EXEC: Under Armour Shares Pop on Strong Q2 Earnings Beat
Shares of Under Armour surged 27 percent on Thursday after the company reported operating earnings topped guidance by $50 million due to efforts to reduce promotions at its DTC channels, particularly online. Under Armour President and CEO Kevin Plank expressed confidence that initiatives to elevate product and storytelling will drive a return to growth.
HanesBrands Raises EPS Outlook On Improving Q3 Profitability
HanesBrands Inc. raised its earnings guidance for the year after reporting third-quarter sales reached the mid-point of its expected range with operating profit and EPS arriving at the high-end of targets.
Titleist Golf Club Sales Strength Offsets Softer Ball Sales in Q3 at Acushnet Holdings
Acushnet Holdings Corp. reported sales grew 5 percent in the third quarter as strong double-digit gains at Titleist golf clubs offset a slight decline in Titleist golf balls. The firm reiterated its guidance for the year.
EXEC: SportChek’s Q3 Retail Sales Grow and Helly Hansen Declines for Parent Canadian Tire
SportChek retail sales increased 2.0 percent year-over-year and comparable sales were up 2.9 percent for the quarter, marking two consecutive quarters in which SportChek outperformed industry trends.
Merrell and Saucony Post Above-Plan Q3 Sales; Parent Lifts FY Guidance
Wolverine World Wide, Inc. raised its revenue and earnings guidance for the year after sales in the third quarter, which exceeded company expectations, driven by above-plan performances from Merrell and Saucony. Gross margins expanded 450 basis points on significantly lower inventory levels.
Planet Fitness Increases 2024 Revenue and Adjusted EBITDA Outlook
The company’s third-quarter total revenue increased 5.3 percent to $292.2 million from $277.6 million in the prior-year Q3 period, including system-wide same-club sales growth of 4.3 percent.
EXEC: Puma Eyes Boost from Low-Profile Footwear Trend
Puma’s growth accelerated in the third quarter to a 5 percent currency-adjusted (ca) gain from 2.1 percent in the second quarter, led by a recovery in footwear demand. Arne Freundt, CEO of Puma, said on a media call, “I’m very confident to say that we are leading the low-profile trend.”
Vista Outdoor’s Q2 Sales Slide 1.6 Percent as Ammo Growth Offsets Outdoor Declines
Vista Outdoor Inc. reported sales declined 1.6 percent in the fiscal second quarter ended September 30 as sales declined 3.9 percent at its Revelyst outdoor products segment and inched up 0.5 percent at Kinetic Group. Results were in line with expectations with Revelyst exceeding plan. Vista’s board again unanimously recommended shareholders vote for a deal to sell Kinetic Group with Czechoslovak Group (CSG).
Wattbike Appoints Commercial Sales Director
Sam Theyers has over 25 years of experience working with Life Fitness, Fitness First, Ezdihar Sports, and LA Fitness and reportedly brings a deep understanding of the fitness category and a wealth of international connections.
Kizik Appoints Nike Veteran as Design Chief
Andreas Harlow, a 22-year Nike veteran, joins the hands-free footwear brand after serving as VP/global footwear creative director for Jordan Brand for the last three years.
Planet Fitness Makes Last-Minute Bid for Blink Fitness
After losing out last week in a bankruptcy auction to U.K.-based fitness chain PureGym, Planet Fitness is seeking to make a bid for Blink Fitness.
