EXEC: Helly Hansen Posts Small Q2 Growth While SportChek Declined on Weather Woes
Canadian Tire Corp., parent of Helly Hansen and the SportChek, Sports Experts, Atmosphere, Pro Hockey Life, Sports Rousseau, Hockey Experts, and Mark’s retail banners, reported top-line pressures in Q2 were balanced by strong margin and cost control, improving retail profitability.
Under Armour Lifts FY Guidance On Surprise Q2 Profit
Under Armour, Inc. reported a loss of $305 million in the second quarter after absorbing charges related to the settlement of a shareholder lawsuit, but posted a surprise profit excluding the charges and slightly raised its adjusted earnings guidance for the year. Sales declined 10 percent, dragged down by a 14 percent slide in North America.
DTLR Prepares Kids Nationwide with Back-to-School Supplies
Across the U.S., the retailer donated thousands of backpacks, school supplies and provided free haircuts and shoes to help prepare kids for the upcoming school year.
The Buckle’s July Same-Store Sales Decline 7 Percent
The Buckle, Inc. announced that comparable store sales decreased 6.8 percent in July year-over-year.
EXEC: Mountain Warehouse Submits $5M Stalking Horse Bid for EMS Assets
UK-based Mountain Warehouse has emerged as the stalking horse bidder for Eastern Mountain Sports with a $5 million bid to acquire the EMS intellectual property. EMS parent company GoDigital Media Group filed for bankruptcy in June.
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.
EXEC: Callaway CEO Unveils Strategic Review of Topgolf as Q2 Results Disappoint
The parent of the Callaway Golf, Topgolf, Travis Mathew, Odyssey, Ogio, Jack Wolfskin brands is doing a full strategic review of Topgolf, including an assessment of organic strategies to return Topgolf to profitable same-venue sales growth, as well as inorganic alternatives, including a potential spin-off of Topgolf.
Revolve Returns to Growth in Q2
Online fashion retailer Revolve Group reported sales grew 3 percent in the second quarter, its first positive quarter since the fourth quarter of 2022. Earnings more than doubled.
TSG Consumer Partners Appoint Head of Strategic and Operational Services Group
Dori Konig brings over 20 years of finance, strategy, and operating experience to the role. Most recently, he was the managing director at global investment firm Platinum Equity, where he led the company’s East Coast Operations.
OR and Surf Expo Parent Narrows Q2 Loss on Flattish Revenue Decline
The Emerald Holding revenue decrease was attributed to prior-year discontinued event revenue of $3.7 million and scheduling adjustments of $1.1 million, partially offset by organic growth of $2.6 million as well as $1.7 million in revenue from acquisitions.
Ōura Appoints Apple Design Veteran as Chief Design Officer
Miklu Silvanto will be leading the company’s software and industrial design teams and owns the end-to-end member experience and visual design of Oura’s hardware and software products. He will report to Chief Operating Officer Michael Chapp.
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: Puma Shares Down DD in Midday Trading as Q2 EBIT and Outlook Disappoint
Company CEO Arne Freundt said Puma “fully delivered” its outlook for the quarter and is on track to deliver on its outlook for the full year, but European analysts disagreed, sending shares lower on the DAX exchange.
Solo Brands Lowers FY Guidance on Softening Demand
Solo Brands, Inc. reported results in the first half exceeded expectations, but the parent of Solo Stove reduced its full-year outlook due to deteriorating trends so far in the third quarter.
