Deckers Brands Lifts Outlook on Hoka and DTC Momentum
Deckers Brands raised its outlook for the year after reporting results for the fiscal first quarter ended June 30 that surpassed analyst targets. Direct-to-consumer growth net sales increased 35.3 percent to offset a slight wholesale decline. Among major brands, sales of Hoka’s jumped 27.4 percent while Ugg’s sales decreased 6.0 percent.
SRAM Names VP of Marketing and Communication
Chicago-based bicycle parts manufacturer SRAM has hired Josh Kendrick as its new vice president of marketing and communication (marcom). Kendrick will take over from David Zimberoff, who is moving on after leading the department for more than 24 years.
True Fitness Recalls Showrunner II Consoles
True Fitness recalled about 600 Showrunner II Consoles, including wireless phone chargers, sold with the fitness equipment. An exposed area of the wireless charging board could come in contact with another internal wire, posing a fire hazard.
The Beachbody Company Amends Loan Agreement
The Beachbody Company, Inc. reported that it amended certain financial covenants of its $50 million term loan with Blue Torch Capital to add financial flexibility.
Escalade Sees Sequential Improvement to Q2 Business From Tough Q1 Start
Excluding the impact of the change in the company’s reporting calendar, second quarter sales declined 9.5 percent on a year-over-year basis and second quarter gross margin improved significantly compared to the first quarter.
Vista Outdoor’s Earnings Decline on 14 Percent Revenue Slide
Vista Outdoor, Inc. reported earnings declined 54 percent in the fiscal first quarter ended June 25. Sales dropped 14 percent with sales down 26 percent in the Sporting Products segment while gaining 8 percent in the Outdoor Products segment. The company said results were in line with expectations and reiterated its guidance for the year.
EXEC: Puma CEO Talks Cautious Approach on U.S. Turnaround
Puma SE delivered second-quarter results that topped analyst targets and said it might be able to raise its outlook for the year should the recent momentum in China, Europe and Latin America continue in the third quarter. However, Arne Freundt, Puma’s CEO, was hesitant to forecast a return to growth in the U.S. market due to weak consumer spending.
Gap, Inc. Appoints Board Member as President and CEO
Gap, Inc., the parent company of active lifestyle retailer Athleta, appointed Richard Dickson as company president and CEO, effective August 22, 2023. In November 2022, Gap, Inc. appointed Dickson to its Board of Directors.
WH inc. Hires New Creative Director, Two Other Key Creative Hires
WH, Inc. hired Hart Rusen as new creative director with over 20 years of industry experience, Senior Designer Ari Pal, who joins from Vail Resorts, and Production Designer Chase Kunz, who joins from Microsoft.
Foot Locker to Open First Store in Thailand
Foot Locker reported it is ready to open its first retail store in Thailand after transferring its operations in Singapore and Malaysia to MAP Active earlier this year.
Puma’s Q2 Earnings Down, Sales Up Despite North America Decline
Second quarter earnings declined on higher costs and currency effects despite an 11 percent currency-neutral sales gain for the period. However, earnings topped analyst expectations on strength in China, Europe and Latin America.
Garmin Opens Firstbeat Analytics Lab
Garmin reported that it opened its Firstbeat Analytics Lab in Jyväskylä, Finland. The research and testing facility will support the development of smartwatches, cycling computers and advanced wellness products.
U.S. Consumer Confidence Jumps to Highest Level in Two Years
The Conference Board’s monthly Consumer Confidence Index hit 117 in July, rising from 110.1 the month before. The index increased for the third consecutive month, bounding even higher after a sharp upswing in June.
OrderMyGear Appoints VP of Revenue Operations
OrderMyGear promoted Adam Gainey to VP of revenue operations. The company said Gainey would play a pivotal role in developing and executing on strategies that improve client acquisition, growth and satisfaction.
Retail and Vendor Business Groups Say Court Erred in China 301 Tariff Case
The NRF, AFAA, FDRA and other business groups urge The U.S. Court of Appeals to reverse judgment and vacate List 3 and List 4A China Section 301 tariffs.
