July 09, 2024 Helen of Troy’s Outdoor Brands Face Headwinds
Macro pressures and a botched distribution center overhaul conspired to send sales in HELE’s Home & Outdoor segment, which includes Hydro Flask and Osprey Packs, down 9% to $198.5 million from $217.1 million in the fiscal first quarter ended May 31. Honma Golf Grows Profits as Sales Slide
The high-end Japanese club maker saw net income increase 48% to ¥4,828.1 million ($32.6 mm) from ¥3,255.6 million in the fiscal year ended Mar. 31, despite 11% lower sales of ¥26,222.9 million ($176.8 mm) against ¥29,495.0 million. Himaraya Net Falls on Weak Demand
Net income at the Japanese retailer plummeted 76% to ¥248 million ($1.7 mm) from ¥1,031 million on 5% lower revenues of ¥43,146 million ($290.9 mm) from ¥45,238 million for the nine months ended May 31. Kingmaker Ends the Year on Sour Note
The footwear maker’s net income attributable to shareholders declined 62% to HK$20,221,000 ($2.6 mm) for the fiscal year ended Mar. 31, against a profit of HK$53,410,000 last year. Under Armour Outlook is Negative, Moody’s Says
The ratings agency changed Under Dog’s outlook to negative from stable, while affirming its Ba2 corporate family rating and Ba3 rating on UA’s senior unsecured notes, citing the company’s recent settlement of shareholder litigation. Retail Imports Push Higher in May
Despite continuing pressure from rising freight rates, unresolved port labor negotiations, and Red Sea attacks, retail import volumes at U.S. container ports were up 8% in May to 2.08 million twenty-foot equivalent units according the NRF and Hackett Associates’ Global Port Tracker. GolfForever Accuses Amazon, Others of Racketeering
Back Story (dba GolfForever) is once again suing International Golf Group and Amazon in Cen. CA district court but added Sellinger’s Power Golf (dba Sellinger’s Branding and Events), and an employee at IGG and Sellinger’s, accusing the defendants of fraud and violating RICO statutes. Etcetera: Nike, New Era, Alpha Munitions, Cosmo Fabric
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