Shares of Under Armour rose nearly 20 percent Thursday after the company notched a surprise quarterly profit before litigation-related charges as both gross margins and North America’s sales performance exceeded expectations. Under Armour slightly raised its outlook for the year.
Author: Thomas J. Ryan
Thomas J. Ryan
Senior Business Editor | SGB Media
tryan@sgbonline.com | 917.375.4699
EXEC: Vulcabras Q2’s Growth Paced by Athletic Footwear Strength
Brazil’s Vulcabras reported sales increased 5.1 percent to of R$761 million ($136 mm) in the second quarter with growth across its Olympikus as well as licensed Mizuno and Under Armour brands.
EXEC: Saucony and Merrell Gaining Traction, But Remain Down Sharply in Q2
Wolverine Worldwide became one of the few companies in the outdoor space to hike its full-year guidance in recent months after seeing second-quarter results come in better than expected due to the margin benefits from its transformation plan and traction gained by its Saucony and Merrell brands.
Wolverine Worldwide Raises FY Outlook on Early Payback from Turnaround Efforts
Wolverine Worldwide reported earnings fell 21 percent in the second quarter as sales on an ongoing basis sunk 18 percent due to steep declines at Merrell and Saucony, but the company still raised its sales and earnings guidance for the year as its turnaround program is driving better-than-expected results.
EXEC: VF CEO Not Ready to Predict When Growth Returns
With July 17 marking his one-year anniversary, Bracken Darrell, VF Corp’s president and CEO, cited a number of accomplishments under his tenure, including significantly reducing debt, inventories and costs on the company’s first-quarter analyst call. The sales decline in the latest quarter also moderated versus the prior quarter, but Darrell declined to predict when growth would turn positive.
EXEC: Vista Outdoor Sees Revelyst Turnaround Plan on Track
Eric Nyman, co-CEO of Vista and CEO of the Revelyst outdoor products business, insists Revelyst is on the road to recovery, forecasting sales trends will steadily improve and reaffirmed Vista’s target to double Revelyst’s standalone adjusted EBITDA in FY25.
S&S Activewear to Acquire Alphabroder
S&S Activewear reached an agreement to acquire Alphabroder, uniting two branded apparel distributors to support customers and suppliers across corporate and consumer markets.
EXEC: Johnson Outdoors to Double-Down on Cost-Cutting Amid Sales Struggles
Helen Johnson-Leipold, chairman and CEO, told analysts that “continued tough marketplace conditions significantly impacted Johnson Outdoor’s results through the quarter, with consumer demand for outdoor recreation products remaining depressed across all of the company’s categories through the peak season.”
EXEC: Marucci is “Standout Performer” in Fox Factory’s Q2; Bike Biz Stabilizing
Marucci, acquired in November 2023, was a “standout performer” for Fox Factory Holding Corp. in the second quarter, Mike Dennison, Fox Factory’s CEO, said on an analyst call. Fox Factory’s bike business was down, but the category’s prolonged destocking phase has shown signs of nearing an end.
EXEC: Black Diamond Making Progress with Repositioning Despite Top-Line Weakness
Black Diamond’s sales again fell sharply in the second quarter but management of its parent, Clarus Corp., told analysts the brand is making progress rationalizing its product lines under a “fewer, bigger, better” emphasis and reducing promotional pressures amid the continued slow stabilization of the North American wholesale channel. Neil Fiske, president, Black Diamond Equipment, still cautioned that the overall outdoor marketplace won’t fully recover until 2025.
EXEC: Crocs Brand Expects Weaker N.A. Sales in Second Half
Crocs, Inc. reported second-quarter sales and earnings that topped expectations but delivered cautious guidance for the back half, including a warning of flat sales for the Crocs Brand. CEO Andrew Rees said, “We see the U.S. consumer behaving cautiously.”
EXEC: BOA and PrimaLoft Deliver Healthy Double-Digit Growth in Q2 for CODI
Citing the benefits of inventories rebalancing in the marketplace, Compass Diversified (CODI) reported BOA’s sales surged 42.1 percent in the second quarter while PrimaLoft returned to growth with a 14 percent gain. Said Elias Sabo, CODI’s CEO, on a call with analysts. “We believe both businesses are positioned for a strong back half of the year.”
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: 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.
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