SGB Update Outdoor
Adidas Sees Modest Q4 Sales Decline On Supply Chain Challenges
Adidas reported currency-neutral sales declined 3 percent in the fourth quarter due to supply shortages as a result of the lockdowns in Vietnam last year, the challenging market environment in Greater China and pandemic-related lockdowns in the Asia-Pacific. However, currency-neutral sales for 2021 rose 16 percent and Adidas projected will increase at a rate between 11 percent and 13 percent in 2022.
100% Appoints New Leadership Team
100%, the San Diego, CA-based sports performance brand, has appointed new leadership.
Adidas Closes Stores In Russia
Adidas AG is closing its stores in Russia and suspending its online shop, joining Nike, Puma and a wide range of Western businesses that have halted operations in the country following its invasion of Ukraine.
Near-Record Import Levels Expected At U.S. Ports As Congestion Continues
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker* report released by the National Retail Federation and Hackett Associates.
L. Catterton Acquires Taxa Outdoors
Travel trailer maker Taxa Outdoors announced that the Growth Fund of L Catterton acquired it. RX3 Growth Partners is also an investor. Taxa said the investment would drive its distribution growth and expand its product offerings. The terms of the transaction were not disclosed.
Dick’s SG’s Again Tops Expectations In Q4
Dick’s Sporting Goods reported earnings on an adjusted basis grew 50 percent in the fourth quarter ended January 29 on a 5.9 percent same-store sales gain. Both earnings and sales topped Wall Street’s guidance with the period marking Dick’s largest sales quarter. Earnings are expected to decline in the current year with comps expected in the range of negative 4 percent to flat, but EPS guidance was ahead of Wall Street targets.
Clarus’ Q4 Sales Jumped 55 Percent
Clarus reported adjusted net income grew 55 percent as sales grew 56 percent sales gain. Sales grew 68 percent in 2021 and are expected to climb 25 percent in 2022. Sales in the fourth quarter grew 17 percent in the Outdoor segment (Black Diamond) and 37 percent in the Precision Sport segment (Sierra, Barnes).
Kohl’s Provides Key Updates On Strategic Growth Initiatives
At Investor Day, Kohl’s announced new long-term financial targets and growth strategy that included continued growth in active and casual categories and planned growth for Sephora to a $2 billion business.
Accell Group’s Revenues Climb 6.2 Percent In 2021
Accell Group reported EBIT grew 47 percent in 2021 on a 6.2 percent sales gain.
Leupold & Stevens Names VP, Product Development & Marketing
Leupold & Stevens, Inc. named Tim Lesser its vice president, product development & marketing, effective immediately.
Hibbett’s Q4 Comps Dip 1 Percent
Hibbett Inc. reported fourth-quarter earnings declined 23.9 percent as same-store sales dipped 1.0 percent. Results and guidance were in line with an update given on February 18.
REI SoHo Employees Vote To Unionize
REI employees in its SoHo, New York City retail store, voted to form the co-op’s first union. Eighty-eight of the store’s 102 workers voted to join the Retail, Wholesale and Department Store Union (RWDSU), and fourteen voted not to join. An in-person tally conducted the vote in the store’s breakroom by the National Labor Relations Board.
Forloh Appoints Vice President Marketing And E-Commerce
Forloh, the technical outdoor brand, announced the appointment of Nick Skally to VP, marketing and e-commerce.
Academy Sports Announces Inaugural Quarterly Cash Dividend
Academy Sports and Outdoors Inc. announced that its Board of Directors approved the initiation of a quarterly cash dividend.
Smith & Wesson’s Q3 Revenues Drop 31 Percent
Smith & Wesson Brands, Inc. reported sales were down 31 percent year-over-year in the third quarter ended January 31 but surged more than 118 percent on a two-year basis. Both sales and earnings trailed analyst estimates.
