Delta Apparel Logs Loss On Mass Channel Destocking
Delta Apparel reported a loss in the fiscal second quarter ended April 1 as elevated inventory levels at the mass channel continue to impact its Delta Direct business. Sales declined 16.2 percent as a gain of over 16 percent at its Salt Life brand was offset by a 20.8 percent drop at its Delta Group segment.
Sports Research Appoints Apple, Nike Vet As Marketing VP
Health and wellness company Sports Research hired Robbie LaBelle as vice president of marketing. He is the first to assume the role in the company’s 43-year history.
Wilson Sporting Goods Opens First California Retail Location
Wilson Sporting Goods Co. unveiled its first retail store in California, located within the well-known Third Street Promenade shopping district in Santa Monica. Wilson has two stores in Chicago and three in Manhattan, including their SoHo flagship and stores on the Upper East Side and Columbus Circle.
Report: One In Five Campers Affected By Flooding And Natural Disasters In 2022
The Dyrt, an app for camping information and booking, found in its 2023 Camping Report that 18.1 percent of campers changed or canceled plans due to flooding and natural disasters last year. Many campers will be facing a similar situation this year, especially in California where the Sierra Nevada snowpack is the second highest on record since 1950 and 80 percent of it has yet to melt.
Hest Adds Sales Representation For Pacific Northwest
Hest reported that it partnered with Yukon Trading Company for sales representation in the Pacific Northwest region.
Wrangler And Lee Parent Sees U.S. Sales Growth Offset By China Declines
Kontoor Brands, Inc., led by Wrangler and Lee brands divested by VF Corp., saw strength in domestic wholesale and direct-to-consumer (DTC) more than offset by decreases in International wholesale, primarily driven by the continued impacts of COVID-policy changes in China.
Planet Fitness’ Q1 Sales Climb 19 Percent On Membership Growth
Planet Fitness saw sales jump 19.0 percent in the first quarter, boosted by a system-wide same-store sales increase of 9.9 percent. Earnings climbed 27.7 percent. The fitness chain saw the highest quarterly net member growth since the first quarter of 2020.
Titleist Parent Sees 13 Percent Q1 Revenue Growth
Acushnet Holdings Corp., the parent of Titleist, FootJoy and KJUS, reported earnings rose 15.2 percent in the first quarter ended March 31 on a 13.2 percent sales gain. The gains were led by a healthy double-digit increase in golf balls and club sales with the U.S. turning in the best regional performance. Results beat analyst expectations although Acushnet maintained its full-year guidance.
Peloton Narrows Fiscal Q3 Loss Despite Weaker Sales; Settles Dish Action
Peloton narrowed its net loss despite weaker sales in the fiscal third quarter ended March 31 as margins expanded and expenses were reduced. The company also announced a settlement agreement with Dish Network.
Solo Brands Swings To Q1 Profit As Sales And Margins Expand
Solo Brands, Inc. saw net sales increase 7.3 percent to $88.2 million in the first quarter from $82.2 million in the first quarter of 2022. The increase was primarily driven by new strategic partnerships and continued market penetration within the wholesale sales channel.
The Buckle Posts 10 Percent Comp Store Sales Decline For April
The Buckle, Inc. reported that comparable store net sales, for stores open at least one year, for the 4-week period ended April 29 decreased 10.2 percent from comparable store net sales for the 4-week period ended April 30, 2022.
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.
