Outdoor financials: Jarden posts increased Q3 profit, plus Cabela's, Under Armour, VF, Hanesbrands, GSI

Jarden posted an increase in Q3 profit, Cabela's said its Q3 profit jumped 93 percent, Under Armour saw sales rise 16 percent for Q3, VF shares dropped after Q3 results, Duofold's parent said sales fell 8 percent in Q3, and GSI narrowed its Q3 loss.

Jarden posts increased Q3 profit

Jarden (NYSE: JAH) reported a better-than-expected profit for the third quarter, as it maintained costs. It is parent of Coleman, Marmot and K2, among others.

For the three months ended Sept. 30, net income rose to $73.7 million from $63.8 million. Earnings per share were $0.83 compared with $0.83 a year earlier, when the company had fewer outstanding shares. Excluding items, Jarden said it earned $0.93 a share.

Jarden said net sales fell to $1.35 billion for the quarter and attributed the 7.2 percent year-over-year decline to the weak economy and the unfavorable impact of foreign currency exchange. Last year's sales were $1.5 billion.

Cabela's Q3 profit jumps 93 percent

Third-quarter profit rose 93 percent for Cabela's (NYSE: CAB) as sales rose slightly, and it paid less interest and lowered operating expenses.

It earned $18.8 million, or $0.28 per share, compared to profit of $9.7 million, or $0.15 per share, a year earlier.

For the quarter ended Sept. 26, revenue rose 2 percent to $624.3 million from $611.8 million. The company said gun and ammunition sales growth had started to moderate, and sales trends in other categories had improved in the third quarter.

With strong sales in the first four weeks of the fourth quarter, the company now expects its full-year 2009 earnings per share to increase at a mid-single-digit percentage rate, compared with prior expectations for earnings per share roughly flat with 2008 levels.

The 2009 earnings could even top the revised forecast "should the strength we have seen in October continue for the remainder of the year," CEO Tommy Millner said in a statement.

Under Armour sales up 16 percent for Q3

Third-quarter profit for Under Armour (NYSE: UA) rose slightly on higher sales of its athletic apparel and footwear.

Quarterly profit rose 2 percent to $26.2 million, or $0.52 per share, from $25.7 million, or $0.51 per share last year.

Revenue rose 16 percent to $269.5 million from $231.9 million a year ago.

Sales of apparel rose 7 percent to $215.4 million, while footwear more than doubled to $33 million, from $13.1 million last year.

Based on the results, the company raised its yearly guidance due to better-than-expected sales year-to-date. The company now expects 2009 revenue of $830 million to $835 million, from a previous estimate of $810 million.

Under Armour now expects earnings of $0.85 to $0.87 per share from previous expectations of $0.80 to $0.82.

It noted that expenses are expected to be higher due to higher personnel costs, including increased funding of the company's performance incentive plan. They are now expected to grow in the mid-teens percentage range from earlier expectations of growth in the low teens.

Despite the optimistic outlook, shares of Under Armour fell Oct. 27 as investors worried that the company's fourth-quarter profit would disappoint after it issued full-year guidance that implied slower sales for the rest of the year. Shares fell $3.82 to close at $29.27 on a volume of 1.9 million.

Raymond James analyst Dan Wewer told clients in a research note that the company's prediction for full-year profit implied that fourth-quarter revenue growth would slow to about 11.6 percent. He added that executives said operating expenses would be under pressure in the fourth quarter, and maintained an "underperform" rating on the stock.

VF shares drop after Q3 results

Following news of a 7-percent drop in third-quarter revenue and missing analyst estimates by a penny, shares of VF Corp. (NYSE: VFC), parent of The North Face and JanSport, fell on Oct. 27. Shares shed $5.14 to close at $73.35 on a volume of 3.8 million, after a day's low of $72.18.

Lazard Capital Markets analyst Todd Slater wrote in a research note that VF was being punished for expectations that were too high and kept a "hold" rating on the shares. But he added, "With visibility continuing to weaken, we recommend that investors remain on the sidelines."

Standard & Poor's retail analyst Marie Driscoll was more optimistic and told clients she was raising the firm's recommendation on VF to "hold" from "strong sell." But she told investors that the 2010 outlook for jeanswear, international and contemporary brands remained soft.

Duofold parent sales fall 8 percent in Q3

Hanesbrands (NYSE: HBI), parent of Duofold, reported an 8-percent drop in third-quarter sales. Revenue was $1.06 billion versus $1.15 billion in the same period last year.

It earned $41.1 million, or $0.43 a share, compared with $15.9 million, or $0.17 a share, a year earlier. Excluding items, the company said it earned $0.63 a share.

GSI narrows Q3 loss

GSI Commerce (Nasdaq: GSIC) narrowed its net loss for the third quarter and also signed an agreement to acquire Retail Convergence.

For the quarter ended Oct. 3, net loss was $9.4 million, or $0.18 per share, compared to a net loss $14.2 million, or $0.30 per share.

Revenue was up to $190.3 million from $186.8 million.

Loss from operations was $9.9 million compared to $16.5 million last year.

Looking ahead, the company expects a modest increase in FY '09 net revenues compared to FY '08. Income from operations is expected to be at least $3.0 million to $7.0 million

In other company news, GSI paid $350 million for Retail Convergence, the parent of RueLaLa.com website, which holds private sales of sought-after items at discounts, and SmartBargains.com. The acquisition should close in a month, it said.

--Compiled by Wendy Geister

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.


Outdoor financials: Cabela’s Q3 profit increases, plus Big 5, Hanesbrands, Jarden

Cabela’s Q3 profit increases Third-quarter net income increased 5 percent for Cabela's (NYSE: CAB) as its gross margins and sales improved. For the period ended Oct. 2, earnings were $19.7 million, or $0.29 per share, compared with $18.8 million, or $0.28 per share, a year ...read more

Outdoor financials: Timberland Q3 profit drops 53 percent, plus Jarden, LaCrosse, Under Armour, Crocs, Cabela's, Liz Claiborne, Wellman, Exel, Big 5, Kellwood, Liberty Media

Timberland Q3 profit drops 53 percent Third-quarter profit for Timberland (NYSE: TBL), parent of the SmartWool, GoLite Footwear, Mion and Timberland brands, dropped 53 percent due to costs for closing stores and a drop in revenue in the company's footwear division. For the ...read more

Fitness financials: Town Sports swings to a loss in Q3, plus Sports Club, Iconix, Under Armour, GSI, Champion, Brunswick

Town Sports swings to a loss in Q3 Town Sports International (Nasdaq: CLUB) swung to a loss in the third quarter hampered by a lower membership count. Net loss for the quarter ended Sept. 30 was $1.5 million, or $0.07 per diluted share, compared to net income of $3.8 million, or ...read more

Outdoor financials: Under Armour Q1 profit leaps, plus GSI Commerce

Under Armour Q1 profit leaps Under Armour (NYSE: UA) recorded an 80-percent surge in its first-quarter profit, helped by a 31-percent rise in apparel revenues, as well as strong sales at its online and factory stores. Earnings for the quarter ended March 31 were $7.2 million, or ...read more

Fitness financials: Q3 sales for Amer Sports' Precor segment fall 24 percent, plus Under Armour, Hanesbrands, Brunswick

Q3 sales for Amer Sports' Precor segment fall 24 percent Hit by weak North American sales, Amer Sports reported an expected decline in company-wide net sales, but a lower-than expected sales drop of 24 percent for its Precor fitness segment. For the third quarter, Amer Sports' ...read more

Outdoor financials: Q3 profit for VF drops 7 percent, plus Columbia Sportswear, Deckers, Rocky Brands, LaCrosse, Under Armour, Amer Sports

Q3 profit for VF drops 7 percent VF Corp. (NYSE: VFC) said its third-quarter profit fell 7 percent on lower revenue despite gains in its outdoor and action sports segment. VF is parent of The North Face, JanSport, Eastpak, Eagle Creek and Vans, among others. The company reported ...read more

Outdoor financials: VF's Q1 profit plummets 33 percent, plus Amer Sports, Forzani, Under Armour, Jarden, Rocky Brands, GSI Commerce

VF's Q1 profit plummets 33 percent Shares of VF Corp (NYSE: VFC) fell as much as 14 percent on April 29 -- topping the list of the NYSE's biggest percentage price decliners of the day -- after the company reported a 33 percent drop in profit and lowered its full-year guidance. VF ...read more

Outdoor financials: Columbia posts wider Q2 loss, plus Timberland, Luxottica, Under Armour, Hanesbrands, GSI

Columbia posts wider Q2 loss Normally its weakest annual sales quarter, Columbia Sportswear (Nasdaq: COLM) said its sales dropped 16 percent and it posted a nearly $10 million loss for the second quarter. For the quarter ended June 30, its loss was $9.9 million, or $0.29 per ...read more

Outdoor financials: Deckers Q3 profit rises 86 percent, shares hit an all-time high, plus Columbia Sportswear, Dale of Norway, Rocky Brands, West Marine, Jarden, Amer Sports, Forzani, Wellman, GSI, Liberty Media/Backcountry.com, Cabela's

Deckers Q3 profit rises 86 percent, shares hit an all-time high Third-quarter profit for Deckers Outdoor (Nasdaq: DECK) climbed 86 percent based on strong demand for Ugg brand products and overseas sales. For the quarter ended Sept. 30, net income grew to $19.3 million, or $1.47 ...read more