|
November 09, 2023 Wolverine Lowers Guidance, Extends Corporate Overhaul
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Yeti DTC Gains, but Wholesale Hit by Cooler Recall
Net income at the cooler and drinkware brand declined 6% in Q3 to $42,657,000 from $45,520,000 on flat sales of $433,561,000 compared to $433,556,000, as big gains in direct-to-consumer offset wholesale softness. Mizuno’s Momentum Slows in Sep. Quarter
Slowing sales growth in the Americas and EMEA resulted in a 6% increase in fiscal Q2 net income to ¥3,112 million ($21.5 mm) from ¥2,924 million, on 8% higher revenues of ¥57,330 million ($396.7 mm) against ¥53,010 million. Hanesbrands’ Activewear Profit Halved in Q3
Operating profit for Hanesbrands’ Activewear segment fell 54% to $24,853,000 from $53,491,000 for the period ended Sep. 30, as sales tumbled 17% to $383,600,000 from $461,043,000. Sportchek Sales Fall 10%, as Parent Plans Layoffs
Third quarter revenues at Canadian Tire’s sporting goods banners declined 10% to C$518.3 million ($386.5 mm) from C$576.4 million, including a -7.4% comp. Ammo, Inc.’s Ammunition and Gunbroker Revenues Drop
Net loss widened to $7,495,297 from $803,507 on revenues that were down 29% to $34,372,386 from $48,288,559 for the fiscal second quarter. Descente Results Boosted by China Growth
Net income slipped 11% in the fiscal second quarter ended Sep. 30 to ¥2,481 million ($17.2 mm) from ¥2,779 million, though revenues grew by 7% to ¥32,823 million ($227.1 mm) from ¥30,785 million, largely driven by a recovery in China, where sales more than tripled to ¥3,890 million. Goldwin’s Sales, Profits Grow Double Digits
The owner of The North Face, Canterbury, Helly-Hansen and other brands for Japan reported a 23% increase in net income to ¥3,976 million ($27.5 mm) from ¥3,241 million in the fiscal second quarter ended Sep. 30. Alpargatas’ Revenue Tumbles in Q3
The bottom line swung to a BRL 8.5 million ($1.7 mm) loss from BRL 44.9 million of income in the prior year as revenue declined 18% to BRL 896.2 million ($183.6 mm) from BRL 1,089.9 million. Retail Imports Forecast to Slow Heading into Holiday
Retail import volumes at U.S. container ports are expected to slow during the remainder of the year, according to the NRF and Hackett Associates, as September’s tally was flat year-over year. OrderMyGear Acquires DistributorCentral
OrderMyGear will incorporate DistributorCentral’s technology solutions into its online stores that serve more than 4,000 promotional product distributors, apparel decorators, and team dealers. Puma, Ball Family Sued Over MB1 Mark
The Big Cat is being sued along with LaMelo, LaVar, and Tina Ball by the co-founder of the Big Baller Brand and the Ball’s former partner, Gregory Alan Foster, in Cen. CA district court for infringing on several trademarks related to the “MB1” mark. CPSC Recall: Amer Sports Ski Bindings
Amer Sports is recalling 5,696 Armada, Atomic, and Salomon branded ski bindings because the toe component can fail, causing the ski boot to disconnect from the ski.
|
