EXEC: Helly Hansen Posts Small Q2 Growth While SportChek Declined on Weather Woes
Canadian Tire Corp., parent of Helly Hansen and the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, Hockey Experts, and Mark’s retail banners, reported top-line pressures in Q2 were balanced by strong margin and cost control, improving retail profitability.
Under Armour Lifts FY Guidance On Surprise Q2 Profit
Under Armour, Inc. reported a loss of $305 million in the second quarter after absorbing charges related to the settlement of a shareholder lawsuit, but posted a surprise profit excluding the charges and slightly raised its adjusted earnings guidance for the year. Sales declined 10 percent, dragged down by a 14 percent slide in North America.
Yeti Raises FY Outlook on Strong Q2 Results
Yeti Holdings ,Inc. raised its guidance for earnings and sales for the year as second-quarter results topped analyst targets. Adjusted earnings in the quarter rose 36 percent on a 15 percent revenue gain.
TSG Consumer Partners Appoint Head of Strategic and Operational Services Group
Dori Konig brings over 20 years of finance, strategy, and operating experience to the role. Most recently, he was the managing director at global investment firm Platinum Equity, where he led the company’s East Coast Operations.
Boot Barn Fiscal Q1 Earnings Easily Top Expectations
Profits at Boot Barn, Inc. advanced 13.4 percent in the fiscal first quarter. Sales grew 10 percent from new stores, 1.4 percent same-store growth and 6.7 percent e-commerce growth.
Solo Brands Lowers FY Guidance on Softening Demand
Solo Brands, Inc. reported results in the first half exceeded expectations, but the parent of Solo Stove reduced its full-year outlook due to deteriorating trends so far in the third quarter.
Traeger Narrows Q2 Net Loss as Margin Bump Partially Offsets Sales Declines
The net loss was $2.6 million, or 2 cents per diluted share, in the second quarter, compared to a net loss of $30.2 million, or 25 cents per diluted share in the second quarter of last year. GM rose 600 basis point year-over-year.
EXEC: Vista Outdoor Sees Revelyst Turnaround Plan on Track
Eric Nyman, co-CEO of Vista and CEO of the Revelyst outdoor products business, insists Revelyst is on the road to recovery, forecasting sales trends will steadily improve and reaffirmed Vista’s target to double Revelyst’s standalone adjusted EBITDA in FY25.
Under Armour’s Chief Consumer Officer to Exit
According to an SEC filing on Tuesday, August 6, Under Armour’s Chief Consumer Officer, Jim Dausch, will leave the company at the end of August “to pursue other opportunities.”
Under Armour Acquires Unless; Taps Eric Liedtke as Brand Strategy Chief
The appointment of Adidas brand veteran Eric Liedtke as EVP of brand strategy follows the completion of UA’s acquisition of Unless Collective, Inc, a zero-plastic regenerative fashion brand. The transaction is expected to be completed later this week.
NSSF: Adjusted NICS Background Checks Increase 4.0 Percent in July
The 4.0 percent increase in July figure was the first year-over-year monthly increase since December 2023 and marked 60 straight months, or five years, of one million-plus monthly NICS checks.
Vista Outdoor’s Fiscal Q1 EPS Dips as Outdoor Segment Sales Sink Mid Teens
Revelyst outdoor segment sales declined 13.6 percent year-over-year to $274 million in the fiscal first quarter, while the Ammo segment saw sales decrease 1.6 percent to $370 million for the fiscal first quarter ended June 30.
EXEC: Johnson Outdoors to Double-Down on Cost-Cutting Amid Sales Struggles
Helen Johnson-Leipold, chairman and CEO, told analysts that “continued tough marketplace conditions significantly impacted Johnson Outdoor’s results through the quarter, with consumer demand for outdoor recreation products remaining depressed across all of the company’s categories through the peak season.”
U.S. Manufacturing Sector Contracted in July for Fourth Consecutive Month
The ISM is reporting that economic activity in the manufacturing sector contracted in July for the fourth consecutive month and the 20th time in the last 21 months.
Johnson Outdoors Sees Fiscal Q3 EPS Fall Nearly 90 Percent Year-over-Year
The company reported that challenging marketplace conditions, primarily due to lower consumer demand for outdoor recreation products and heavy promotional activity, impacted performance.
