EXEC: Rocky Brands’ Q2 Boosted by Strength at Durango and Xtratuf
Rocky Brands reported sales grew 6.1 percent in the second quarter adjusted for the divestiture of the Servus brand as double-digit gains at the Durango western boot brand and Xtratuf fishing boot brand offset weakness in its work and hunt categories as well as at Muck.
EXEC: Adidas CEO Sets N.A. Growth Focus on Being More American in America
Adidas Group reported underlying sales in North America increased 2 percent on a currency-neutral basis in Q2r and the region is expected to grow in the second half as well. CEO Bjørn Gulden said the focus has to be on being “more American in America” to further accelerate gains in the region.
EXEC: Nike Cuts Workforce but Doubles Down on Endorsement Deals
Employee headcount at Nike’s Beaverton HQ declined 6.1 percent to 10,700 at the close of the company’s fiscal year, which ended May 31, but endorsement deals due within a year surged 31 percent year-over-year.
Vista Outdoor Cancels CSG Deal Vote Again; Will Look at Other Options
Adjourned its shareholder vote on the sale of the Kinetic Group, its ammunition business, to the Czechoslovak Group (CSG) to pursue a more extensive review of “strategic alternatives,” including a sale of its Revelyst outdoor products business and selling the company outright to MNC Capital.
EXEC: Shimano Sees Continued Headwinds Drive H1 Sales and Profits Lower
The company said that demand for bicycles and fishing tackle continued to be weak and reported net sales decreased 17.6 percent year-over-year in the first half. Second quarter sales were down 15.2 percent.
EXEC: Investor Pressure Builds on Vista Outdoor Ahead of Ammo Sale Vote
Investor groups from the two sides of the vote scheduled for July 27 have been making their preferences known, and analysts and advisors have weighed in with their views. After rescheduling a vote three times, tomorrow is V-Day.
EXEC: Newell Outdoor & Rec Segment to See H2 Upside Under New CEO
The company’s Outdoor & Recreation segment remains the firm’s “weakest” division from a profitability and sales perspective and “most in need of a turnaround” and new leadership in the segment are now in place in Atlanta.
EXEC: Columbia Sportswear Sees Return to Wholesale Growth in Spring 2025
The home of the Columbia, Sorel, Mountain Hardwear and Prana brands reported that early indications from the spring ’25 Wholesale order book suggests a return to growth in the Wholesale business in the first half of ’25.
EXEC: Hoka DTC Drives Fiscal Q1 Growth; Dick’s and JD Sports Boost U.S. Wholesale
The brand saw accelerated DTC growth and continued strong wholesale gains helped drive a 29.7 percent jump in Hoka sales in fiscal Q1 ended June 30. Hoka’s parent company also called out the sales of the Sanuk business in July.
EXEC: Lululemon Pulls Breezethrough Leggings Line, Stock Price Targets Cut
The collection, aimed at hot, low-impact workouts, faced criticism over the design, with a 3.1-star rating from 112 reviews on the company’s website, with comments highlighting issues like unflattering seams and discomfort.
EXEC: JD Sports Completes Acquisition of Hibbett Sports
Hibbett is now part of JD and will cease to be a stand-alone publicly traded company. Mike Longo will continue as president and CEO of Hibbett and Jared Briskin is now chief operating officer.
EXEC: Moncler Group Posts Double-Digit Sales Growth in First Half
The company reported first half revenues increased 11 percent year-over-year in constant-currency terms to €1.23 billion, Moncler brand revenues of €1.04 billion and Stone Island brand revenues of €188.9 million.
EXEC: Rapala VMC Gets Back to Growth in First Half as Retail Market Improves
The Finnish fishing equipment and Nordic ski company described the operating environment in the first half of 2024 as “reasonable” as inflation started to ease and retail activity improved from 2023.
EXEC: Royal Robbins Parent Sees “Disappointing” Q2 as Inventory Woes Persist
Fenix said the retailer market still faced a situation with higher-than-normal inventory, as well as volatile trading because of weather and said there are also indications that a number of retailers are facing some liquidity/financial problems.
EXEC: Sports Direct Parent Sees Adjusted Profit Up Double Digits as Sales Inch Up
Excluding the impact of the 53rd week in fiscal 2023, Retail revenues increased by 0.6 percent year-over-year to £5.54 billion for the 52-week fiscal 2024 period ended April 28.
