SGB Update Sports & Fitness
GoPro Beats Q1 Earnings, Revenue Estimates
GoPro reported a loss of $76.3 million, or 55 cents a share, in the first quarter, but after adjustments, a loss of 34 cents per share beat Wall Street estimates of a loss of 36 cents per share. The company’s Q1 sales of $202.3 million beat the expected $182.2 million.
Roka Partners With Brooks Beasts Track Club
Roka Sports Inc., the performance eyewear specialist, announced the signing of the Brooks Beasts Track Club, including 2018 IAAF World Indoor Silver Medallist at 800m, Drew Windle, World Indoor 3000m Finalist, Katie Mackey, and 3x Great Edinburgh Cross Country Challenge Champion, Garrett Heath.
Adidas Records Double-Digit Top- And Bottom-Line Growth In Q1
Adidas reported earnings climbed 17 percent in the first quarter as sales grew on a currency-neutral basis and gross margin expanded 150 basis points. Growth was particularly strong in North America, up 21 percent on a currency-neutral basis, and Asia-Pacific, ahead 15 percent.
Acushnet’s Q1 Earnings Advance
Acushnet Holdings Corp., the parent of Titleist, reported first-quarter net income of $41.5 million, up 8.9 percent year over year. Sales reached $441.8 million, up 1.9 percent year over year, down 2.2 percent in constant currency.
Fitbit Posts Q1 Loss On Revenue Decline
Fitbit Inc. reported a loss of $80.9 million, or 34 cents per share, in the first quarter ended March 31, compared to a loss of $60.1 million, or 27 cents per share, in the same quarter a year ago. The company reported sales of $247.9 million, a 17 percent decline from last year. Fitbit’s income and revenue topped analyst expectations, but the company’s forecast for the current quarter is lower than expected as it works to sell off old products and shift focus to the new Versa.
Academy Sports To Open Two New Locations In NC
Academy Ltd., dba Academy Sports + Outdoors, will open the company’s first stores in Matthews, NC and Winston-Salem, NC, this summer. The company recently opened the first store in New Bern, NC, last month.
Gildan Reaffirms Guidance Amid Q1 Income & Revenue Decline
Gildan Activewear Inc.’s net income and revenue tumbled in the first quarter ended April 1, but both were within management expectations and the company reaffirmed full-year guidance issued on Feb. 22.
Fathead Enters Strategic Partnership With FlyQuest
Fathead LLC and FlyQuest Sports partnered to launch a line of FlyQuest wall graphics. The agreement marks Fathead’s entrance into esports.
PGA Tour Superstore Opens Second Houston Store
PGA Tour Superstore announced the upcoming grand opening of a store at Katy Ranch Crossing Shopping Center in Houston.
Garmin Sees Double-Digit Earnings Growth In Q3
Garmin Ltd. reported operating earnings rose 21.5 percent in the first quarter. Sales climbed 10.8 percent, led by gains of 24 percent in the company’s Outdoor segment, 20 percent in Fitness and 19 percent in Aviation.
Big 5’s Sales Tumble In Q1
Big 5 Sporting Goods Corp. reported first-quarter loss as gross margins eroded 200 basis points and same-store sales fell 7.5 percent. The sales decline was due to warm and dry weather conditions in the western states. The results were in line with guidance given in February.
Vicis ZERO1 Football Helmet Rated First In Virginia Tech Helmet Ratings
The Virginia Tech University Helmet Lab released its 2018 Virginia Tech Helmet Ratings for football helmets, awarding Vicis’ 2018 ZERO1 the highest available “5 STAR” rating.
Garmin Health Collaborates With The University Of Kansas Medical
Garmin International Inc., a unit of Garmin Ltd., announced a collaboration with the University of Kansas Medical Center to foster innovation and better understand how wearables can assist in the detection and management of significant medical conditions.
Hibbett Sports Introduces New App & Chance To Win Free Sneakers For A Year
Retailer Hibbett Sporting Goods Inc., which operates more than 1,000 athletic apparel, footwear and equipment stores in small and mid-sized markets, today announced the launch of a new mobile app for iOS and Android.
Under Armour’s Q1 Tops Wall Street’s Targets
Under Armour Inc. reported break-even results in the first quarter, exceeding Wall Street’s expectation. Sales also came in slightly ahead of expectations. Sales in North America were flat while international growth was 27 percent. The company maintained its guidance for the year.
