Garmin annual Fitness revenues are now forecast to rise approximately 16 percent after increasing 28 percent to $243 million in Q3 on strength in wearables and contributions from Tacx. Separately, the company’s Outdoor segment annual revenues are now forecast to increase approximately 11 percent after a 23 percent Q3 topline gain to $258 million on growth in multiple product categories led by adventure smartwatches.
Escalade revenues rose 4 percent in Q3 to nearly $45.8 million. By distribution channel, ecommerce (+13.8 percent), international (+11.6 percent) and mass merchant (+3.4 percent) revenues rose. Sales to specialty dealers dipped 1 percent to $11.8 million.
Compass Diversified says its 5.11 business continues to perform “significantly ahead” of its expectations after an 18 percent rise in Q3 revenues and 60 percent improvement in EBITDA with the brand’s Icon pant and Nora sneaker rising to the top seller list. 5.11 could eventually have 250-300 stores, up from 60 at year-end, CODI CEO Elias Sabo estimated.
New Balance is launching a capsule collection with medical apparel company FIGS, aimed at bringing functional, fashionable footwear to the healthcare community that features two styles for women and one for men. It will be available at wearfigs.com this month.
Purdue University establishes a sports engineering and research center named after record-setting Olympian and alum Raw Ewry. The International Olympic Committee (IOC) will collaborate with the university, starting in 2020, to develop a bimonthly sports information report that will highlight and distribute details about the latest technologies impacting sport global. Additionally, the IOC and Purdue are discussions about further collaborations.
Shimano reported 6 percent revenue growth in bicycle components to approximately $1.97 billion for the nine months ended Sep. 30. North American unit sales dipped slightly, but revenues were flat due to higher unit prices. Nine-month fishing sales rose 5 percent to $523.3 million.