SGB Update Sports & Fitness
Beachbody’s Q2 Sales Drop 20 Percent
The Beachbody Company, Inc. reported a net loss in the second quarter as sales declined 20 percent year-over-year. Total subscriptions were down 18 percent year-over-year but ahead 26 percent against the pre-COVID 2019 quarter.
Forrester Sees U.S. Online Retail Spending Reaching $1.6 Trillion By 2027
In 2021, U.S. total retail sales, excluding auto and gas, reached a record high of $4.3 trillion, driven by U.S. consumers’ accumulated savings in 2020 and the stimulus checks that they received from the government. By 2027, Forrester expects total U.S. retail sales to reach $5.5 trillion and U.S. online retail sales to reach $1.6 trillion.
Lids Announces Retail Partnership With Topps
Lids announced a new retail distribution partnership with the card company. Lids will now sell Topps’ various trading card products in select Lids retail stores throughout the U.S.
NBA And Fanatics Open League’s First Store In Australia
The NBA announced an expanded multi-year collaboration to open the first brick-and-mortar NBA store in Australia beginning this year. Lids will operate the store.
Rawlings Promotes Buechter To CFO
Rawlings Sporting Goods Company, Inc. promoted Andria Buechner, former director of financial planning and analysis, to chief financial officer, filling the vacancy left when Ron Ostrowski was named president of Rawlings last month.
RYU Apparel Adds Board Member
RYU Apparel, Inc. announced that Daphna Edwards Ziman has joined the RYU Board of Directors.
Ben Hogan Golf Equipment Company Closed
Perry Ellis International, Inc. (PEI), the owner of the Ben Hogan brand, acknowledged the closure of the Ben Hogan Golf Equipment Company, which licensed the Ben Hogan brand for golf clubs and accessories. Due to economic challenges and the impact of the pandemic, the licensee did not have the resources to support equipment production.
Escalade’s Q2 Revenues Decline 5 Percent
Escalade reported sales declined 5.4 percent in the second quarter due to lower demand within the fitness and outdoor categories, including archery and water sports.
GoPro Sees Flat Revenue Growth In Second Quarter
GoPro, Inc. announced sales that were essentially flat year-over-year in the second quarter ended June 30 but saw strong subscriber growth and said earnings topped expectations.
Delta Apparel’s Q3 Sales Boosted By Salt Life
Delta Apparel, Inc. reported sales grew 7 percent in its fiscal 2022 third quarter ended July 2, 2022. Net sales in the Delta Group segment grew 3 percent while the Salt Life segment gained 30 percent.
Fox Factory Increases Full-Year Revenue Outlook On Above-Plan Second Quarter
Fox Factory Holding Corp. reported earnings and sales came in ahead of company guidance and the company raised its sales outlook for the year. Sales in the second quarter rose 23.9 percent with a 28.1 percent increase in its Specialty Sports Group segment and a 20.9 percent increase in Powered Vehicles Group sales.
Callaway Golf Lifts Outlook On Robust Double-Digit Q2 Growth
Callaway Golf Company raised its outlook for earnings and sales for the year after reporting second-quarter earnings that topped Wall Street estimates. Sales in the second quarter jumped 22.1 percent, led by Topgolf and its Active Lifestyle segment TravisMathew and Jack Wolfskin.
Gildan Activewear Crushes Analyst Expectations In Second Quarter
Gildan Activewear Inc. reported sales grew 20 percent in the second quarter as activewear sales growth of 27 percent offset an 8 percent decline in underwear and hosiery. Both sales and earnings easily eclipsed Wall Street’s consensus estimates.
Acushnet Raises 2022 Sales Outlook On Robust Second Quarter
Acushnet Holdings Corp. reported second-quarter sales and earnings both easily surpassed Wall Street estimates. The parent of Titleist and Footjoy raised its outlook for sales for the full year while maintaining its profit guidance. David Maher, CEO, said, “The company continues to build momentum.”
Adidas’ Currency-Neutral Sales Climb 4 Percent In Second Quarter
Adidas AG reported second-quarter results that were somewhat ahead of expectations reflecting continued strong momentum in Western markets and a return to growth in Asia-Pacific. However, a slower-than-expected recovery in Greater China led to a significant reduction in guidance for the year. Results were in line with preliminary results issued on July 26.
