Daily News Feed 10/28/2024 VF Corp. Sees Profit as Turnaround Progresses
Net income in VFC’s fiscal second quarter ended Sep. 30 was $52,178,000, despite a $150 million operating deficit from held-for-sale Supreme, lapping last year’s $450,697,000 loss, as revenues slipped 6% to $2,757,948,000 from $2,920,123,000. AlixPartners Finds Nike Tops Sentiment Index
The Swoosh continues to hold sway across generations despite pressure from upstarts in athletic footwear, according to AlixPartners’ first Consumer Sentiment Index in 15 years.
The former Sacks Parente Golf pre-released its third quarter results, boasting revenue that grew more than tenfold year-over-year to between $1,150,000 and $1,250,000 and by about 48% sequentially from Q2. Gettysburg Trading Post Buys the Gun Center
PA-based Gettysburg Trading Post is expanding its footprint into Frederick, MD, with its acquisition of the Gun Center. Rawlings Sues Marucci over Trade Secrets
Rawlings filed suit in St. Louis, MO circuit court against the Fox Factory-owned brand, claiming its former director of composite engineering, Frederic St. Laurent, left the company with a trove of highly confidential business secrets related to composite bat manufacturing.
10/25/2024 Retail Executive Pay Inched Higher in 2023
The 76 highest paid executives at public sporting goods retailers saw last year’s total compensation increased a modest 1% for those with comparable earnings in both 2023 and 2022, but the overall average fell to $2,938,325 compared to $3,122,455 in 2022. Newell Outdoor’s Sales Slide Again
The travails continue at NWL’s Outdoor and Recreation segment, which includes Coleman, Campingaz, Contigo, and Marmot, with sales down 21% in the third quarter to $183 million from $231 million. Fenix Outdoor’s Brand Segment Struggles in Q3
Revenue from the Swiss outdoor company’s branded segment’s external sales, which includes Fjällräven, Tierra, Royal Robbins and others, declined 21% to €47.4 million ($52.1 mm) in the third quarter from €59.8 million. Yue Yuen Issues Positive Profit Warning
Yue Yuen announced that its net income attributable to shareholders would be up about 140-145% to approximately $337.4 million, driven by its growing order book as the global footwear industry normalizes. China Dongxiang Falters in Q2, First Half
The Chinese sportswear company’s Kappa brand retail sales fell high-single digits in the fiscal second quarter ended Sep. 30, and were down mid- to high-single digits in the first half. Etcetera: Under Armour, Reebok, Adidas, Craft Sportswear
10/24/2024 Skechers Gains Elsewhere Offset China Weakness in Q3
Net income increased 16% to $193,221,000 from $165,926,000 on record third-quarter sales of $2,237,705,000, also improving 16% from $2,024,958,000, as wholesale rebounded across regions and direct-to-consumer stayed positive on top of tough comps, offsetting the ongoing softness in China. Deckers Raises Guidance on Hoka Growth
Profits soared 43% to $253,096,000 in the fiscal second quarter ended Sep. 30 from $176,430,000 a year ago, as revenues jumped 20% to $1,311,320,000 from $1,091,907,000 driven by a significant gain from Hoka and strong sell-in for Ugg in an important seasonal quarter. Escalade Profits Improve as Cost Cuts Progress
Net income improved by 33% to $5,667,000 from $4,275,000 for the third quarter, though sales slipped 8% to $67,738,000 from $73,358,000 on continued softness from U.S. wholesale. Winchester’s Sales Grow, but Profits Don’t
Olin Corp.’s ammunition segment grew revenues by 14% in the third quarter to $432.8 million from $380.2 million, driven mainly by rising military and international sales and the addition of White Flyer, which more than offset lower commercial sales. Mips Gathers Momentum in Strong Q3
The Swedish helmet technology company more than doubled profits in the third quarter to SEK 36 million ($3.5 mm) from SEK 14 million as revenues surged 60% to SEK 123 million ($11.8 mm) from SEK 77 million. Vista Outdoor’s Sale Goes to Vote Nov. 25
SRG’s Sports and Outdoor Banners Return to Growth
Rebel Sport sales increased 2% in the first 16 weeks of FY 25, including 1% higher comps, parent Super Retail Group announced at its annual meeting. Pure Fishing Refinances Outstanding Debt
Pure Fishing inked a new five-year, $750 million first-lien credit facility with a consortium of lenders, including Monarch Alternative Capital LP and Silver Point Finance. Varsity Brands Sued over Data Breach
The Varsity Spirit and BSN Sports parent is being sued in N. TX district court by Dean Huntley in a proposed class action for failing to properly protect personal information in a hacking incident last May. Amer Sports Sued for Age Discrimination
The Equal Employment Opportunity Commission hit Amer Sports with an age discrimination suit in CO district court alleging it appointed a younger less experienced individual to a position. CPSC Recall: PowerBlock Dumbbells
PowerBlock is recalling about 1,863 Commercial Pro 100 adjustable weight sets because plates above 55 lbs included in the set can dislodge from the 5 lb grip handles. Etcetera: Columbia, EOC, Ken Hicks, Perfect Moment, Blue Tees Golf, Topgolf, Spalding
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