Daily News Feed 05/02/2024 Peloton Reports another Loss, Restructuring as CEO Departs
Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation is continuing down a bumpy path. Fox Factory Gets Marucci Boost
The bottom line swung to a loss of $3,496,000 from $41,767,000 in profit on sales that were down 17% to $333,472,000 from $399,851,000, with Marucci’s solid performance proving an exception to the destocking and interest rate pressures continuing to wreak havoc across segments. Clarus Guides for Rising Profits in 2024
Net income in the first quarter soared to $21,884,000 from $1,598,000 a year ago, but that included a $40.6 million gain from the since-divested ammo business, and CLAR posted a net loss from continuing operations of $6,462,000 against a loss of $2,031,000. Fenix Outdoor Sales Slip in Q1
Branded segment revenues at the Swedish outdoor company from Fjällräven, Royal Robbins, Brunton and other brands declined by 15% in the first quarter to €45.2 million ($49.1 mm) from €53.1 million.
VSTO’s outdoor segment has divested reloading equipment and tools brand, RCBS to KS-based Hodgdon Powder Co. for undisclosed terms. Outdoor Retailer Adds Activewear and Swimwear Marketplace
OR is partnering with Collective Shows to add wholesale activewear and swimwear vendors to Outdoor Retailer Winter this Nov. 6-8, 2024, at the Salt Palace Convention Center in Salt Lake City, UT.
The Big a is once again suing apparel maker Aviator Nation and its owner, Paige Mycoskie, in OR district court for selling items with three and four stripes that it says infringe on its Three Stripe mark and for breach of contract. GoPro’s ITC Investigation Moves Forward
GPRO’s April complaint has resulted in the International Trade Commission opening a section 337 investigation into Arashi Vision (dba Insta360), which is accused of importing certain cameras, camera systems, and accessories that infringes on its patents. CPSC Recalls: Electric Skateboards, Igloo Bottles
Floatwheel self-balancing electric skateboard owners are being warned by the CPSC not to use the devices, because they can suddenly stop or stop balancing the user, which can throw a rider off the board. Etcetera: Columbia, Cascale, ABG, JD Sports, Sunday Golf, Under Armour
05/01/2024 Gildan Net Pulled Down by Proxy Battle Costs
Net income dropped 19% to $78.7 million in the first quarter from $97.6 million, on a 1% top line decline to $695.8 million from $702.9 million, lapping a $25 million gain on a DC leaseback last year and hit by $19.7 million in SG&A for expenses from the proxy battle, sales exploration and related costs. Compass Diversified Reports Q1, Sells Crosman
CODI’s sporting goods brands posted mixed results in the first quarter, with 5.11 Tactical and Boa outperforming, but PrimaLoft and Velocity Outdoor continuing to struggle. Garmin Fitness, Outdoor Momentum Continues in Q1
GRMN’s fitness segment saw Q1 sales improve 40% to $342,892,000 over $244,721,000 with growth across all categories, led by strong demand in advanced wearables, while operating income soared to $68,133,000 from $10,578,000. Wolverine Worldwide Inks Merrell and Saucony Licenses
WWW has licensed Vida Shoes International as the global licensee for Merrell and Saucony kids’ footwear for all markets, subject to pre-existing licenses. Under Armour Hires Yuron White
Under Dog tapped Yuron White as SVP, sportswear, run, basketball/Curry and collaborations, the first hire with Kevin Plank back at the helm. Pentland Names New President, Americas
Pentland Brands appointed Joe Spies as president, Americas, succeeding Matt Rock after a 19-year tenure, in which he was responsible for integrating Speedo N.A. into the parent’s global operations. Etcetera: REI, La Sportiva, OrthoLite, Under Armour, Fanatics, Maxfli
04/30/2024 Adidas' Recovery Lags in North America
Reporting first quarter results that were in line with its pre-announcement earlier this month, The Big a’s bottom line swung to a profit of €170 million ($185 mm) from a loss of €39 million, as revenues improved 3% to €5,458 million ($5,933 mm) from €5,274 million. REI’s Losses Balloon in 2023 on Sales Decline
The outdoor co-op continued to struggle last year, seeing the red ink deepen to a $311,128,000 loss from a $164,712,000 loss the year before, as revenues slipped 2% to $3,758,226,000 from $3,850,174,000. Rocky Brands Posts Profits on Organic Growth
The bottom line swung back to $2,500,000 in profit for the first quarter after last year’s loss of $398,000 as sales ticked up 2% to $112,906,000 over $110,445,000 on a reported basis. Big 5 Sporting Goods Has a Rough Q1
The CA-based retailer continued to underperform in the first quarter, carrying Q4’s big loss forward with $8,286,000 of red ink against a $193,000 profit a year ago. American Outdoor Brands Aims for $400 Million Top Line
Retail destocking moving through the seventh inning stretch and higher-price-point consumer resilience are some of the industry trends AOUT noted as it drives towards a $400 million top line, as it shared its five-year plan progress at the SHARE conference. Sacks Parente Golf Guides for Rapid Growth
The high-end putter startup, which went public last year, says it expects revenues to double sequentially in Q2. Gregg Ritz Acquires Thompson/Center Arms
Gregg Ritz, former president and CEO the company, inked a definitive agreement to acquire the Thompson/Center Arms business from Smith & Wesson. Amer Sports Selling Enve Composites
AS is divesting the cycling brand to UT-based private investment firm PV3, which is lead by entrepreneur and cycling enthusiast Mark Hancock, for undisclosed terms. Anderson Manufacturing Names New CEO
The rifle and accessories maker appointed Jeff Stawiarski as CEO, where he’ll be responsible for the company’s strategic direction and growth.
The Eager Beavertons have settled all trademark infringement claims with the Japanese streetwear brand, and asked the case be dismissed with prejudice, according to a filing in So. NY federal court. Etcetera: Wolverine, Etnies, German Precision Optics
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