SGB Executive Sportsmans
EXEC: Yeti’s Shares Thumped by Concerns Over Drinkware, U.S. Growth
The company was the latest active lifestyle brand to feel the sting of Wall Street analysts’ concerns as shares fell about 11 percent Thursday, August 13, after the company reported second-quarter results that raised investor concerns over the brand’s sluggish growth in the Drinkware category and slower growth in the U.S. in the second half.
EXEC: Gregory, High Sierra Parent Samsonite Plans BÉIS Acquisition
Samsonite Group S.A., the parent of Gregory, High Sierra and several luggage brands, reported sales on a constant currency basis declined 1.7 percent in the second quarter and 0.7 percent in the half, dragged down by declines in North America, the Middle East and India. The Hong Kong-based company also announced it had agreed to acquire BÉIS, the travel brand based in El Segundo, CA.
EXEC: Inside the Integration of Helly Hansen with Parent KTB’s CEO and New President
In North America, KTB is creating two GMs to drive increased focus for the two business units at Helly, suggesting that they will replicate this globally over time. “This is something the Helly Hansen team has discussed for years, and under Kontoor, we are making it happen,” commented Kontoor Brands Chairman and CEO Scott Baxter.
EXEC: Daiwa Parent Posts Solid Fiscal Q1 Growth but Lowers H1 Profit Forecast
Globeride, Inc. reported that, in light of recent performance trends, a decision was recently made by the company’s Board of Directors to revise the financial results forecasts for the six months ending September 30.
EXEC: Czechoslovak Group’s CSG Ammo+ Segment’s Sales Slide 12 Percent in Half
The company reported sales in the CSG Ammo+ segment, which includes Vista Outdoor’s former Kinetic Group, slid 11.5 percent in the half, to €631 million ($723 million) from €713 million a year ago. CSG said the segment’s performance improved sequentially versus the first quarter.
EXEC: New Johnson Outdoors CFO Talks Q3 Profit, Tariff Rebate, Operational Efficiencies
“The tariff refund of approximately $15 million contributed to this improvement,” shared new company CFO Asad Rahman. “Excluding this benefit, gross margin would have been modestly lower than the prior year due to higher raw materials costs.
EXEC: Winchester Ammo Nails DD Q2 Sales Increase, Sets Higher Pricing, Absorbs Cuts
The Olin Corp. segment posted 11.8 percent growth in the second quarter, which was said to be was primarily due to higher commercial ammunition sales and higher military project revenue.
EXEC: Columbia Taps into International Energy and Tariff Rebates to Boost Q2 EPS
Columbia Sportswear’s Q2 sales topped expectations, supported by growth in international markets offsetting U.S. declines. However, management again delivered a cautious outlook going forward as the Middle East conflict has led to supply chain disruptions and is expected to pressure consumer spending in the second half of the year.
EXEC: Escalade CEO Shares Tariff Rebate Plans, Rejects Price Increases
The CEO said they expect to use some of the refunds to help offset higher costs driven by increased freight rates, commodity inflation, and additional new tariffs, but also plans to invest in trade and consumer promotions in the back half, accelerate product innovation, and execute on capital improvements at its facilities.
EXEC: Rocky Brands Accelerates to Double-Digit Growth, Xtratuf Shines
Rocky Brands, Inc’s Q2 sales climbed 12 percent, its first double-digit gain in a quarter since 2022. Solid double-digit growth was seen by Georgia Boot, Rocky and the Lehigh safety shoe business, but Jason Brooks, chairman, president and CEO, told analysts that XTRATUF remained the company’s “fastest-growing brand.” Shares of Rocky Brands climbed 15 percent on the performance and improved outlook.
EXEC: Shimano Sees Robust H1 Fishing Tackle Sales; Bike Business Remains Weak
The Japan-based maker of bike components and fishing tackle is reporting that the global economy generally maintained its solid footing during the first half but also said the economic outlook remained uncertain due to factors such as trends in the trade policies of various nations (i.e. U.S. tariffs) as well as rising geopolitical risks (e.g. Iran war).
EXEC: West Marine to Close Another 32 Stores
West Marine has added 32 stores to its list of locations that will close as part of its bankruptcy proceedings, bringing the total number of store closures to 91.
EXEC: Thule’s Solid Q2 Hurt by FX Rate Impact, Iran War as Sales Inch Up 0.5 Percent
Net sales for the second quarter, the company’s lasrgest quarter for the year due to strength of the bike business, increased 0.5 percent on a reported basis to SEK 3,421 million ($365 mm), with organic sales increasing 2.5 percent year-over-year. Sport & Cargo Carriers accounted for 54 percent of total sales for the quarter.
EXEC: Frasers Group’s Sports Direct UK Segment Posts DD Profit Growth as Sales Decline
Frasers Group reported that profits at its UK Sports segment rose 17.6 percent in its fiscal year ended April 26 as higher gross margins tied to Sports Direct’s Elevation Strategy and reduced expenses offset sales declines due to store rationalization at its Game UK chain and restrained consumer spending. The retailer warned that consumer spending will likely remain challenging this year.
EXEC: Mips AB Organic Growth Accelerates in Q2, Posting 42 Percent Increase
The Bike sub-category continued to perform very well in Q2, and the quarter reportedly marked the eleventh consecutive quarter of growth, following the post-pandemic slowdown in the sector as a whole.
