SGB Update

Lululemon Lifts Outlook As Q3 Comps Surge 22 Percent

Lululemon Athletica Inc. again raised its outlook for sales and earnings in the year after reporting third-quarter results that topped guidance. Comparable sales in the quarter jumped 22 percent, or increased 25 percent on a constant dollar basis.

Wolverine To Divest Keds Brand And Leathers Business, Eliminates Jobs

Wolverine World Wide, Inc. reported it started a formal process to divest or license the Keds brand and the Wolverine Leathers business. Timed with the reorganization, WWW announced earlier this week that it was reducing its workforce to support the restructuring.

Anta Exploring Amer Sports IPO

Anta Sports Products, Ltd., the Chinese sports equipment corporation headquartered in Jinjiang, is reportedly holding preliminary talks with investment banks for an IPO of Amer Sports that could raise about U.S.$1 billion or more, according to Bloomberg.

Academy Sports’ Q3 Comps Slide 7.2 Percent

Academy Sports and Outdoors, Inc. reported earnings on an adjusted basis declined slightly in the third quarter ended October 29 against difficult year-ago comparisons but topped Wall Street expectations. Same-store sales were down 7.2 percent with overall sales coming in below analyst targets. Sales were up 30.5 percent versus the pre-pandemic 2019 third quarter.

Cytech Acquires Pasasport

Italian manufacturer of arm pads and inserts for cycling clothing, Cytech, reported it acquired a majority of shares in Pasaport, a manufacturer of gloves and accessories.