SGB Update Outdoor
VF Corp. Lowers FY Outlook Due To Currency Impact
VF Corp. reported sales on a currency-neutral basis rose 7 percent in its fiscal first quarter ended July 2 as 37 percent growth at The North Face offsetting a 4 percent slide at Vans. Earnings and sales were below analyst targets, and VF lowered its guidance for the year to reflect ongoing negative impacts from foreign currency fluctuations.
NPD Report: Prime Day Promotions Boosted Retail Revenue 14 Percent But Unit Sales Still Fell
The week of Amazon’s Prime Day and other big retailer promotions showed that consumers continue to spend but are purchasing less, according to The NPD Group. U.S. sales revenue from discretionary general merchandise for the week ending July 16, 2022, was 14 percent higher than last year’s non-promotional week, and unit sales were 1 percent lower.
Boot Barn’s Comps Improve 10 Percent In Fiscal First Quarter
Boot Barn Holdings, Inc. reported flat earnings in the first fiscal quarter ended June 25 as sales jumped 19 percent and same-store sales gained 10 percent. EPS exceeded guidance, but the footwear retailer reduced its outlook for the year due to “recent macroeconomic uncertainty.”
Cotopaxi Hires Chief People And Impact Officer
Cotopaxi hired Grace Zuncic as its first chief people and impact officer.
Vista Outdoor’s Q1 Tops Guidance On Sporting Products Momentum
Vista Outdoor reported earnings on an adjusted basis rose 33 percent in the first quarter ended June 26 on a 21 percent revenue gain. Strong double-digit growth in the Sporting Products segment offset a 2 percent decline in Outdoor Products, primarily driven by Outdoor Accessories. Both sales and earnings topped company guidance and Vista’s full-year guidance was raised.
Vista Outdoor To Acquire Simms Fishing Products
Vista Outdoor Inc. announced the acquisition of Simms Fishing Products for a purchase price of $192.5 million.
Columbia Sportswear Reduces FY Guidance
Columbia Sportswear Company reported second-quarter earnings that topped Wall Street’s estimate but reduced its sale and EPS guidance for the year due to growing economic uncertainty. Chairman, President and Chief Executive Officer Tim Boyle said, “As 2022 has progressed, it is increasingly clear that the operating environment has become more challenging.”
KOA: Camping To Remain Popular Amid Volatile Economic Conditions
Kampgrounds of America (KOA) believes camping will continue to be popular even during volatile economic times. In the July edition of KOA’s Monthly Research Report, the camping industry giant forecasted that 15.93 million households would camp this month.
Stanley Hires Global Vice President, Brand Marketing
Stanley announced it hired Jenn Reeves as global vice president of brand marketing.
PeopleForBikes Hires Local Innovation Directors
PeopleForBikes hired Dave Snyder and Martina Haggerty as senior directors of local innovation, responsible for developing and implementing programming for cities to build better-connected bike networks nationwide.
Winnebago Names Newmar Corporation President
Winnebago Industries, Inc. has selected Casey Tubman as president of Newmar Corporation, effective August 1, 2022, reporting to President and CEO, Michael Happe, based in Nappanee, IN.
Walmart Cuts Outlook On Inflationary Pressures
Walmart, Inc. provided a business update and revised outlook for profit for the second quarter and full year, primarily due to pricing actions aimed to improve inventory levels and sales at U.S.-based Walmart and Sam’s Clubs.
Academy Sports Opens Store In Panama City
Academy Sports + Outdoors announced the opening of its Panama City
Olympia Sports To Close Remaining 35 Stores
Olympia Sports, the Maine-based sporting goods chain that once had more than 200 stores on the East Coast, is shuttering its remaining 35 stores.
Caleres CEO To Retire Next Year
Diane Sullivan, Caleres’ long-time CEO, will retire effective January 15, 2023. The company announced the news on Monday. Jay Schmidt, president of Caleres, will succeed Sullivan as chief executive officer, with Sullivan moving to the role of executive chairman.
