Newton Golf’s Q1 Loss Expands on Growth Investments
Newton Golf Company, Inc. reported revenue in the first quarter totaled $1.0 million, down 18 percent from $1.2 million in the prior-year quarter due to temporarily reduced manufacturing capacity and delayed order fulfillment associated with operational initiatives implemented during the quarter to support future growth opportunities.
Boot Barn’s Q4 Sales Jump 18 Percent
Boot Barn Holdings, Inc. reported earnings in the fiscal fourth quarter ended March 28 grew 18.4 percent as sales grew 18.7 percent, with same-store sales up 6.1 percent. Earnings came in at the high end of company guidance and the western retailer predicted growth in the range of 14 percent to 16 percent for the current fiscal year.
Former Foot Locker Digital Exec Joins True Religion
True Religion appointed Andrew Rauch, former global vice president digital at Foot Locker Inc., as SVP of global digital and ecommerce.
Nobull Hires Chief Marketing Officer and Chief Commercial Officer
Allison Giorgio was most recently chief marketing officer at Wellness Pet Company. Prior to that, she spent more than 17 years at Puma. Joe Martin comes to the company from Fossil Group, where he served most recently as chief commercial officer. Prior to that he spent more than 10 years at Adidas.
Dillard’s Q1 Profits Improve on Margin Boost
Dillard’s, Inc. reported earnings in the first quarter, excluding the benefit of a litigation settlement, were up 4.4 percent as sales grew 3 percent and gross margins expanded. Top-selling categories include shoes, home and furniture, ladies’ accessories and lingerie.
Solo Brands’ Q1 Sales Slump 19 Percent
The parent of Solo Stove, Chubbies, Isle and Oru delivered positive EBITDA in the first quarter as a result of cost-cutting efforts, but sales fell 18.6 percent, with a decline of 38.7 percent at its Solo Stove brand and 14.1 percent at its Chubbies apparel business. The company reaffirmed guidance for the year.
Merrell and Saucony Parent Raises FY Outlook on International Sales Increases
Growth was again driven by the company’s consolidated International business, which grew in strong double digits for the period and represented 54.5 percent of total sales, or 410 basis points higher share than Q1 last year.
Yeti Raises FY Outlook as Q1 Tops Targets, Wholesale Sales Jump 19 Percent
Sales in the quarter totaled $380.4 million versus Wall Street’s consensus of $374.8 million. Adjusted EPS of 26 cents a share topped the consensus of 19 cents.
Authentic Brands Group Partners with Latin America’s Mercado Libre
Authentic Brands Group announced a strategic partnership with Mercado Libre, the major e-commerce and fintech platform in Latin America. Launching in Mexico, the partnership will bring Authentic’s portfolio of brands, including Reebok, Champion, Aéropostale, Nine West, Nautica, and Dockers, to Mercado Libre’s numerous e-commerce platforms across Latin America.
NRF: Retail Sales Climb In April Despite Inflation Pressures
Retail sales rose slightly for the seventh consecutive month in April despite rising gas prices and stubborn inflation, according to the CNBC/NRF Retail Monitor. Sales were up 5.73 percent unadjusted year over year in April, including growth of 8.55 percent in the sporting goods, hobby, music and book stores channel category.
Rally House Acquires Penn State’s Lion & Cub Store & Nittany Outlet
Lion & Cub, a Penn State retail store located in downtown State College, Pennsylvania, along with its online business, Nittany Outlet, has served Penn State fans since 1975 and will continue operations as Rally House State College.
Xero Shoes Targets International Expansion with New Distribution Partners
Broomfield, CO-based Xero Shoes has secured five new international distribution partners, effectively doubling its global distribution network.
Benchmade Adds James Brand Founder Ryan Coulter to Product Team
Benchmade has named Ryan Coulter, founder of The James Brand, as VP of product. Coulter will oversee product strategy, innovation, roadmap development, customer insights and cross-functional alignment across product, sales, marketing and manufacturing.
GoPro, Inc. Retains Houlihan Lokey to Pursue Strategic Alternatives, Including Sale
The global investment bank with strong ties into defense and consumer sectors is expected to serve as its financial advisor as the company evaluates a potential sale and other strategic alternatives.
La Sportiva Appoints New Reps for Southwest Region
La Sportiva welcomed Coldstream Sales, led Adam Selby, as its new sales representative in the Southwest.
