SGB Update Sports & Fitness
Gildan Lowers Full-Year Outlook as Negative Market Forces Threaten Upside
While net sales for Q2 were said to be above the company’s expectations at $840 million, Gildan said it sees current market conditions unfavorably impact activewear product mix, both in North American and International markets, as customers focus on lower-priced products.
Titleist Parent Sees 6.4 Percent Currency-Neutral Growth in Q2
Acushnet Holdings Corp., the parent of Titleist and Footjoy, reported second-quarter sales rose 4.7 percent on a reported basis and 6.4 percent in constant currency, driven by double-digit growth in golf balls and golf clubs. Net income increased 12.3 percent, while adjusted EBITDA gained 24.0 percent. Acushnet slightly lifted its guidance for the year.
Vimazi Expands Distribution In Australia and New Zealand
Vimazi, the maker of pace-tuned running shoes, partnered and Simon Bartold to be the exclusive distributor for the brand in Australia and New Zealand.
Compass Diversified Gets Q2 Lift from Primaloft Addition
The 2 percent increase in Q2 was said to be primarily due to the acquisition of PrimaLoft, the strong performance at Lugano and Marucci, partially offset by lower sales at BOA and lower sales at Velocity in the second quarter of 2023.
Krimson Klover Hires New Director of Sales
Krimson Klover hired Phebe Rosenthal as director of sales. She joins the company from Indosole, where she worked for the last few years, and, most recently, as general manager of its North American business.
Farfetch Limited Hires New CFO as Elliot Jordan Departs
Farfetch Limited hired Tim Stone as chief financial officer, effective September 1, succeeding Elliot Jordan, whose departure was announced by the company in February.
Golftec Opens Location in North Miami
Golftec opened a new 2,500-square-foot instruction and club fitting center in North Miami Beach, FL.
Steve Madden’s Q2 Sales Drop 17 Percent
Steven Madden, Ltd. reported earnings slid 28.9 percent in the second quarter ended June 30 as sales fell 16.8 percent on reduced wholesale revenues. Results were in line with expectations and the trendy footwear manufacturer maintained its outlook for the year.
Garmin Lifts Guidance As Q2 Returns To Growth
Garmin, Ltd. slightly raised its sales guidance for the year after reporting a return to growth in the second quarter, led by a 31 percent gain in the fitness segment. Sales were down 3 percent in the outdoor segment and 11 percent in the marine segment. Earnings and sales both topped analyst targets in the quarter.
Katadyn Group Hires Five U.S. Sales Agencies with Focus on Specialty Retailers
Katadyn Group has hired five sales agencies to cover the specialty outdoor retailers in the Northeast, Central, Rockies, and Mid-Atlantic regions of the United States. The agencies are as follows: Northeast: Velocity Sales Management, Michael Schmidt and Bill Bruzzese Central: Palisade Trading, Luke Olson and Ben Boynton Rockies: Alpin Sales, Mark Vaughn, Meg Fogg, James […]
VF Corp. Sees Wider Q1 Loss and Revenue Decline as Vans Drag Continues
The home to the iconic Vans, The North Face, Timberland, Jansport, and Dickies brands, among others, saw 2024 fiscal first-quarter revenue slide 8 percent to $2.09 billion from $2.22 billion in the year-ago quarter.
Columbia Sportswear Cuts Full-Year Guidance On U.S. Weakness
Columbia Sportswear Co. reported second-quarter earnings and sales that topped Wall Street expectations, but lowered its outlook for the year as continued weakness in its U.S. offset strength overseas, including China. The company said it was undertaking expense reduction efforts to manage “near-term uncertainty.”
Big 5 Sees Q2 Same-Store Sales Decline 12 Percent
Big 5 Sporting Goods Corp. posted a slight loss in the second quarter ended July 2 as same-store sales dropped a worse-than-expected 12 percent due to cool weather impacting early spring selling. The California-based sporting goods chain generated positive EBITDA and earnings results were above the midpoint of its guidance range.
Report: Under Armour Signs 10-Year Extension with Notre Dame
Under Armour reached a new $100 million ten-year licensing extension with Notre Dame, noted by Yahoo Sports as the most lucrative apparel contract in college athletics.
Empower’s Back-To-School Study Finds High Inflation Concerns
A survey conducted by Empower.com found that 85 percent of the parents they interviewed were impacted by inflation, affecting their ability to spend money this year for their kid’s back-to-school items.
