Revolve Group Reports Lower Q1 Profits On Tighter Margins, Lower Sales
Revolve Group, Inc. reported net sales were $279.6 million in the first quarter, a year-over-year decrease of 1 percent against a very difficult prior-year comparison. Net income was $14.2 million, or 19 cents per diluted share, for the quarter, a year-over-year decrease of 37 percent.
Gildan Activewear Posts Sales And Profit Declines In Q1 But Reconfirms Outlook
Gildan Activewear Inc. said net sales for the first quarter ended April 2 were in line with expectations at $703 million, down 9 percent, versus prior-year quarter sales.
Compass Diversified Raises FY Guidance On Above-Plan First Quarter
Compass Diversified (CODI) raised its earnings for the year due to a better-than-expected first-quarter performance. Sales on an adjusted basis in its branded consumer segment, which includes Boa, 5.11 and Primaloft, were up 2 percent in the quarter.
Vista Outdoor Posts Heavy Loss On Impairment Charge
Vista Outdoor reported a net loss of $294 million after taking an impairment charge of $374 million. Adjusted earnings per share were down 47.1 percent on a sales decline of 8 percent and lower gross margins. Vista forecast sales for the current year to decline by about 6.5 percent.
Norrøna Hires New U.S. Sales Manager
Norrøna hired Andi Malboeuf as the U.S. sales manager. She comes to the role from QuietKat, an e-bike company owned by Vista Outdoors, where she was the national sales manager.
Private Investment Firm Acquires Good Feet Store Franchisee in Midwest
Exaltare Capital Management, LLC has acquired GF Midwest, Inc., one of the largest developers and operators of the Good Feet Store, operating 23 franchises across nine states. GF Midwest is headquartered in Milwaukee, WI.
Brooks Posts Strong Double-Digit Q1 Global Growth Despite EMEA Decline
Brooks Running carried momentum into the first quarter of 2023 with 20 percent year-over-year global revenue growth, including a record 32 percent increase in the Europe, Middle East, and Africa (EMEA) region.
Farfetch Launches Reebok European Effort Through New NGG++ Division
Farfetch has commercially launched its European partnership with Reebok, following its deal announced in February 2022 with new Reebok owner Authentic Brands Group. The partnership is being managed by New Guards Group (NGG), a wholly-owned Farfetch company.
Five Iron Golf To Open In Cincinnati
Five Iron Golf is opening in Cincinnati, marking its 18th location nationwide and the first in Ohio.
OR, Surf Expo Parent Sees Strong Double-Digit Revenue Growth In First Quarter
Emerald Holding, Inc., the owner and producer of the Outdoor Retailer and Surf Expo trade shows, reported that first quarter 2023 revenues were $122.3 million, an increase of 24.2 percent versus the first quarter 2022.
Rock Ridge Outdoors Names VP Of Sales
Rock Ridge Outdoors, based in Minden, LA, named Janette Palmer as its new vice president of sales.
Outerstuff Receives Debt Downgrade On MIssed Payment
Moody’s downgraded the debt ratings of Moody’s following a missed payment on a shareholder loan. Moody’s said Outerstuff has communicated that the shareholder has made a decision to convert the shareholder loan to equity, which would be a positive for Outerstuff’s capital structure
Champion Brand Posts Double-Digit Global Sales Decline In Q1 Led By U.S. Weakness
HanesBrands, Inc. reported first-quarter net sales from continuing operations declined 12 percent to $1.39 billion, which includes a $31 million unfavorable impact from foreign exchange rates, compared to last year’s strong first-quarter results. Global Champion brand sales decreased 17 percent on a reported basis.
Garmin’s Q1 Sales Slide On Weakness In Outdoor Segment
Garmin Ltd. reported sales declined 2 percent in the first quarter ended April 1. A 27 percent sales tumble in its Outdoor segment, tied to challenges anniversarying major launches in the adventure watch category, offset double-digit gains in other segments, including Fitness and Marine.
Skechers Appoints New Managing Director For UK And Ireland Market
Skechers promoted Richard Parker to managing director of the United Kingdom and Ireland. Former Managing Director, Peter Youell, transitioned into an advisor role on special and key international projects.
