November 30, 2023 Academy Sports Cuts Guidance as Late Fall Hits Q3
Unseasonably warm weather impacted ASO’s third quarter results, sending net income 24% lower to $99,978,000 from $131,741,000 on a 6% drop in revenues to $1,397,777,000, down from $1,493,925,000 including a -8.0% comp on top of Q3 ‘22’s 7.2% decline. Zumiez Guides for Full-year Loss
The bottom line swung to a $2,231,000 loss in Q3 from a profit of $6,932,000 a year ago, as revenues slid 9% to $216,339,000 from $237,591,000, a sequential improvement after a 17% drop in Q1 and a 12% decline in Q2. Tilly’s Sees Red Ink as Sales Fall
Net results swung to a $847,000 loss against last year’s profit of $5,149,000 on sales that were down 6% to $166,475,000 from $177,847,000 as blended comps dropped 9%. American Outdoor Brands Gains from Outdoor
AOUT eked out a slim $77,000 profit in its fiscal second quarter ended Oct. 31, down 79% from $370,000 last year, on 6% higher revenues of $57,931,000 up from $54,436,000, boosted by an improvement in the outdoor lifestyle segment. Vista Outdoor Board Rejects Colt CZ Group’s Offer
VSTO’s board of directors said that the gunmaker’s merger offer at a valuation of $30 a share significantly undervalues the company, and that there was not enough detail in the proposal to even determine the actual valuation. Craft Sportswear Announces Move, New CEO
The New Wave Group subsidiary plans to move its U.S. headquarters from Beverly, MA, to Seattle, WA, next year to bolster the brand’s expansion in outdoor and specialty retail.
The U.K.-based sportswear brand has secured a £145 million investment round led by Raine Partners to fund its expansion and fuel its battle with heavyweight rivals Nike, Adidas, and Puma. Tonal Sues Speediance for Patent Infringement
The connected strength training platform filed suit in Eastern TX district court accusing Shenzhen Speediance Living Technology Co. for infringing on several Tonal patents with its Gym Monster product. National Park Visits Nearly Flat in October
National Park recreational visits were slightly higher last month at 28,359,852 compared to 28,282,686 a year ago, and year-to-date visits are 2% higher at 282,098,327 up from 277,520,975. CPSC Recall: Specialized Pedals
Specialized Bicycle Components is recalling 3,176 Supacaz Brand Orbitron pedals because the pedal body can detach from the spindle and/or the spindle can break. Etcetera: ABG, Wolverine, Topgolf, Isbjorn of Sweden, Hummel
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