Manitobah Hires New CEO; Makes Key Leadership Appointments
Manitobah, the indigenous footwear brand based in Winnipeg, hired Carolyn MacNaughton, who formerly worked for Nike and Under Armour, as CEO, Tom Hildrum as CFO and Mike Wodtke as chief marketing officer. Manitobah also expanded its marketing, brand and HR teams.
Adidas Ekes Out Growth in Q3 on Gains in all Regions Except North America
Currency-neutral sales in North America declined 9 percent during the quarter. The region was said to be “particularly affected” by elevated inventory levels in the market. The company responded to the issue that it had significantly reduced sell-in to retailers.
Charm City Run to Relocate Two Stores in 2024
Baltimore, MD-based Charm City Run announced plans to relocate both its Timonium and Annapolis, MD stores in 2024 to nearby larger spaces.
XS Sights Appoints Marketing Manager
XS Sights, the manufacturer of sights for handguns, hired Jeff King as marketing manager. Before joining XS, King was the director of marketing for Triumph Systems.
NSGA Renames Annual Event to NSGA Leadership Conference
The National Sporting Goods Association (NSGA) renamed its annual conference from the NSGA Management Conference & Team Dealer Summit to the NSGA Leadership Conference.
Steven Madden Tempers Full-Year Outlook after Flattish Q3
SHOO updated its fiscal 2023 guidance and now expects revenue will decrease approximately 7 percent compared to 2022. The company now expects diluted EPS will be approximately $2.35 a share and now expects Adjusted diluted EPS will be approximately $2.40 for the year.
Under Armour Lowers Revenue Outlook on Continued North American Weakness
Under Armour, Inc. reduced its revenue forecast for its fiscal year due to continued softness in the North American marketplace while raising its margin targets. The adjustments came as UA sales and earnings in its fiscal second quarter, which ended September 30, arrived ahead of analyst expectations.
Beachbody Q3 Revenues Drop 23 Percent
The Beachbody Company, Inc. reported sales declined 22.7 percent in the third quarter but revenue and cash used in operations ahead of the midpoint of guidance and the subscription health and wellness company indicated the company is making progress with its transformation efforts.
GoPro’s Q3 Revenues Slide 4 Percent
GoPro, Inc. reported sales in the third quarter were down 4 percent but landed in the upper range of guidance. EPS also was slightly ahead of forecasts and double-digit gains were seen in both subscribers and subscription/service revenue.
Weyco Q3 Sales Fall 13 Percent as Bogs Wholesale Falls 42 Percent
Though sales declined, Weyco said it delivered healthy operating earnings for the quarter relative to sales, as efforts to improve gross margins and control costs have continued to bolster profitability.
Clarus Lowers Outlook for Second Straight Quarter
Profits at Clarus Corp. fell 41.2 percent on an adjusted basis in the third quarter ended September 30 as sales declined 13.5 percent. By segment, sales were down 2.9 percent in Outdoor (Black Diamond, Pieps) and plunged 45.0 percent in Precision Sports (Sierra, Barnes) while gaining 8,6 percent in Adventure (Rhino-Rack, Maxtrax).
Xponential Fitness Ups Full-Year Guidance on YTD Performance
Based on the company’s performance year-to-date, Xponential reported it is increasing its full-year 2023 guidance for revenue and tightening the top-end ranges for new studio openings, system-wide sales and Adjusted EBITDA.
Mystery Ranch Appoints New East Coast Sales Agency
Mystery Ranch hired Brandywine River Reps to lead sales in the Mid-Atlantic and New England regions. BRR represents outdoor speciality gear brands to specialty retailers.
Xponential Fitness Hires International President; Signs New Multi-Brand Deals
Xponential Fitness, Inc. hired Bob Kaufman as president of international to lead global expansion plans across Xponential’s fitness boutique brands. The company also reported signing multi-brand deals in new and existing international markets.
Birkenstock Names Managing Director of China
Birkenstock hired Tiffany Wu as managing director for Greater China. Most recently she managed the Greater China region for Blue Nile, the world’s largest online diamond sales company.
