Vista Outdoor Lifts EPS Guidance On Cost-Reduction Initiatives
Vista Outdoor Inc. slightly raised its earnings guidance on an adjusted basis for the year as expectations for sales and earnings exceeded plans in the second quarter ended September 30. Shooting Sports segment generated sequential sales growth, while Outdoor Products segment sales remained flat adjusted for the sale of its eyewear brands.
Sturm, Ruger & Co. Misses Revenue, Earnings Targets
Sturm, Ruger & Co. Inc. on Wednesday reported net sales for the third quarter ended September 29 of $114.9 million and diluted earnings of 52 cents per share, falling short of Wall Street expectations by $14.9 million and 40 cents, respectively.
Compass Diversified Holdings Posts Revenue Bump, Income Slide
Compass Diversified Holdings reported revenue for the third quarter ended September 30 of $448.7 million, up 38.5 percent from $324 million a year ago and beating Wall Street estimates by $39.2 million. The company’s net income was $5.8 million, as compared to net income of $8.4 million for the quarter ended September 30, 2017.
Winchester’s Profits Hurt By Higher Commodity Costs
Winchester’s EBDITA fell 30.9 percent in the third quarter ended September 30 as sales dropped 5.3 percent, according to the ammunition maker’s parent, Olin Corp. On a conference call with analysts, John Fischer, Olin’s CEO, said the company now expects overall 2018 commercial demand in the Winchester segment to decline by approximately 20 percent in 2018, which follows a 17 percent decline in commercial demand in 2017.
Under Armour’s Shares Pop As Transformation Gains Traction
Shares of Under Armour shot up $5.04, or 27.7 percent, to $23.23 Tuesday, the stock’s highest one-day gain since 2008, as the company reported third-quarter earnings that more than doubled Wall Street’s consensus expectations. On a conference call with analysts, Kevin Plank, CEO, described the performance as “another solid proof point that our multiyear journey toward becoming a more operationally excellent company is on track.”
Winchester Revenue Declines Amid Olin Q3 Beat
Olin Corp. reported net income for the third quarter ended September 30 of $195.1 million, or $1.16 per diluted share, which compares to third quarter 2017 net income of $52.7 million, or 31 cents per diluted share.
Retail Reports Roundup
Retail studies arrived on the online benefit to having physical stores, holiday spending forecasts on tech gadgets and seasonal celebrations, the challenges facing online holiday delivery, the positive payback from creating emotional connections and responding to online reviews.
Columbia Sportswear Notches Strongest Earnings In Company History
Citing the benefits of the company’s “brand-led, consumer-focused” Project CONNECT initiative, Columbia Sportswear reported earnings topped Wall Street targets for the seventh straight quarter, lifted its guidance for the year and provided an upbeat outlook for 2019.
Aisle Talk Week of October 22
Top headlines from the active lifestyle industry you may have missed this week, including Yeti’s lukewarm initial public offering debut.
Yeti’s IPO Makes Lackluster Debut
Amid volatile stock market conditions, Yeti’s initial public offering were priced at $18, below the company’s projected range of $19 to $21. Yeti also sold 16 million shares in the offering, down from 20 million initially planned. On the company’s first day of trading on Thursday, shares fell $1.00, or 5.6 percent, to $17.
Callaway Golf Q3 Gains Lift From U.S. Momentum
With revenues in the U.S. running ahead 14.7 percent with the help of a good reception to the Rogue driver, Callaway Golf reported third-quarter earnings and sales exceeded guidance for the seventh straight quarter.
Rocky Brands Inc. Beats On Q3 Revenue & Income
Rocky Brands Inc. on Tuesday reported net sales for the third quarter ended increased 1.9 percent to $65.9 million compared to $64.7 million in the third quarter of 2017, beating Wall Street estimates by $0.4 million.
Aisle Talk Week of October 15
Top headlines from the active lifestyle industry you may have missed this week, including Mammut North America—a division of Swiss-based Mammut Sports Group AG—parting ways with the company’s managing director, Joe Prebich (pictured), for undisclosed reasons.
5.11 CEO Francisco Morales Talks Retail Expansion, Tactical Sector Growth
Francisco Morales, newly appointed CEO of 5.11—the tactical gear brand he co-founded in 2003—spoke with SGB about what’s driving the company’s brick-and-mortar growth, the explosion of the tactical sector and the importance of having a supportive parent company like CODI.
Moody’s Affirms Bass Pro’s Ratings On Cabela’s Progress
Moody’s affirmed the ratings of Bass Pro after due to improving margins as synergies from the company’s merger with Cabela’s have arrived ahead of plan. Bass Pro’s debt repayments have also been higher than expected since the acquisition closed.
