CTC Sees Helly Hansen Sales Up Big in Q3; SportChek Q3 Comps Down
Parent company Canadian Tire reported SportChek’s Q3 comparable sales were down 7.4 percent as strong growth in team sports was offset by weakness in more discretionary categories. Helly Hansen revenue was up 28.2 percent in Q3.
Wolverine World Wide Accelerates Transformation Plan as Q3 Plummets
The acceleration of the initiatives comes as the company reported dismal third quarter results that reflected an ongoing business that was down in strong double digits across most of the enterprise.
HanesBrands Sees 19 Percent Fall in Champion Sales
HanesBrands, Inc. reported sales fell 9.5 percent in the third quarter, dragged down by a 19 percent decline at the Champion brand. HanesBrands’ sales were slightly below guidance while EPS was in line with targets on improving margins and expense reductions.
Yeti Lifts EPS Outlook on Strong Margins and Drinkware Strength
Yeti Holdings, Inc. raised its EPS guidance for the year after seeing margins in the second quarter top expectations, expanding over 600 Basis Points. Q2 Sales were flat as a 6 percent gain in drinkware sales offset a recall-related decline in cooler sales.
Topgolf Callaway Brands Shares Fall on Lower Full-Year Guidance
MODG shares fell more than 20 percent overnight after losing nearly 5 percent of their value during the day on Wednesday. The company cut its full-year guidance on weaker-than-expected Topgolf same-venue sales growth.
Allbirds’ Q3 Revenues Drop 21 Percent
Allbirds, Inc. reported a loss of $31.6 million in the third quarter ended September 30 on a 21 percent revenue decline. However, sales were in line and the adjusted loss topped guidance and the eco-friendly footwear brand said it’s making progress under its transformation plan.
Timberland’s President to Depart
VF Corp. confirmed that Susie Mulder, Timberland’s global brand president since April 2021, is departing the company. Nina Flood, currently VP/GM of Timberland EMEA, will assume the role of Timberland president on an interim basis.
Norrøna Opens Headquarters in Lysaker, Norway
Norrøna opened its global headquarters, over 8,200 square feet, which includes the brand’s largest store, an event space and the company’s newest venture into the restaurant industry, with the Naturen Brasserie, in Lysaker, Norway.
NRF Economist: Holiday Sales Will Have a ‘Whole New Set of Dynamics’
NRF Chief Economist Jack Kleinhenz said job gains have “slowed but not tumbled,” with payrolls climbing by 150,000 positions in October and the three-month moving average at 204,000 despite downward revisions for August and September.
DC Shoes and Roxy Secure Licensing Partner for Occupational Footwear
Authentic expanded its partnership with Warson Brands to manufacture occupational footwear for men and women under the DC Shoes brand, including women’s styles for the Roxy brand in the U.S., Canada and Europe.
Tommy Hilfiger Appoints New Global President
PVH Corp. appointed Lea Rytz Goldman as the global brand president of Tommy Hilfiger. She will join the company by Spring 2024, reporting to Stefan Larsson, CEO of PVH. Rytz Goldman is currently the managing director of COS, the global fashion brand.
MasterCraft Maintains Full-Year Outlook as Selling Season Comes to Close
Management said the company delivered better-than-expected results despite continuing macroeconomic and demand uncertainty. With the summer selling season now complete the company is focused on rebalancing dealer inventories with anticipated retail demand.
PXG Opens First Location in London
PXG opened a store in London South, its first golf club-fitting location in the UK, mimicing the company’s U.S. retail and service experience.
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.
