Latest news with #CWK
Forbes
2 days ago
- Business
- Forbes
The Miami Matchmaker Helping DTC Golf Brands Break Into Big-Box Retail
Customer at big box retailer takes a look at Golf Daddy's portable simulator. For direct-to-consumer golf brands coveting the expanded reach and visibility provided by big-box shelf space, Miami-based consultant Sam Kornblum serves almost as a fractional VP of Sales—helping convert online momentum into major retail placement at stores like Dick's Sporting Goods, PGA Tour Superstore, and Walmart. Getting a niche golf product into big-box retail can be trickier than holing a 50-foot putt on the quirky greens of Oakmont, where this week's U.S. Open is being held for the 10th time. Legacy players dominate the shelves at golf retail heavyweights leaving smaller brands feeling like they're stuck in an opposite-field event, grinding for a shot at a signature event—the way Gary Woodland did recently via the AON Swing 5. Think of retail distribution consultant CWK (short for 'Consult With K'—as in Kornblum) as a kind of retail rangefinder—helping emerging brands lock in their target number so they can execute their shot, score coveted aisle space and keep it. Kornblum, who has an apparel manufacturing and wholesale distribution background, first teed up the company in 2017 as a side hustle. The gears got turning after a friend who landed a deal on Shark Tank ran into a wall. Despite fifteen minutes of fame and a big-name investor, retail doors didn't part like the Red Sea. That's when they rang up Sam, knowing he understood the process. 'They paid agencies and consultants and they had a shark on their team but they just couldn't crack the code,' Kornblum explained. Two weeks later he delivered a 2,500 door order and realized that the service he just provided was pretty valuable. 'The irony behind that is they wrote me a commission check and I didn't even have an LLC open—this was me helping a friend in good faith. I actually lost that check and never cashed it. But that's how it started.' Since, CWK has repeated that placement feat dozens of times, emerging as a go-to matchmaker linking niche golf brands with major retailers. The company has helped products like Grooveit, Golf Daddy and Caddie Uniform make the transition from direct-to-consumer curiosities to retail staples. Five years ago, Grooveit, a maker of club cleaning brushes, including the MiniG, were going into the world of wholesale pretty much company had built a direct-to-consumer following but wasn't familiar with the intricacies of pitching national chains, so needed hand holding so they didn't come off as rookies. 'When we were faced with big box retailers wanting our products initially, it was a world we were unfamiliar with,' Nicholas Laffin, Grooveit's director of sales explained. 'Partnering with Sam to be our liaison and guide our company through those initial meetings was critical to ensure a smooth rollout with the buyers. If you get a shot with a major retailer, you do not want to be a fish out of water and make any mistakes to jeopardize a huge opportunity for growth,' he added. The guidance has paid off. They've created a seven-figure annual retail business with their products that are now in the aisles of Dick's Sporting Goods, Golf Galaxy, PGA Tour Superstore, and 3000 Walmarts. 'We've been able to expand our product line with new SKUs, colors, and NCAA licenses, none of which would have been possible without Sam's expertise and CWK's deep understanding of what it takes to win in retail,' added the company's founder and CEO Clint Sanderson. The Grooveit brush and the Mini G "You can get a test order, but that means nothing if you don't follow through and execute... If you drop the ball, Dick's is going to say we tried it, didn't work. And now you're out." CWK doesn't just open doors—it helps brands stay in the room. Kornblum has become a trusted curator for major retailers who now take regular meetings with him, asking what's worth paying attention to. 'The PGA Superstore guys didn't even walk the PGA Show,' he says. 'I said, 'Hey, how was the show?' He goes, 'You tell me—what do you got?'' That credibility only works if he maintains his gatekeeper status. 'When people are vetting us, we are vetting them,' Kornblum says. 'If I go get them a large order and they fumble it, that impedes on our reputation and relationship.' And getting a product into stores is just the beginning. 'You can get a product on a shelf, but maybe it's just on the bottom shelf. Maybe it's in the back collecting dust. We ensure that if we put a product in stores, we're visiting and traveling to stores checking on inventory. We're not setting it and forgetting it.' Another brand that benefited from CWK's approach is Golf Daddy, which makes a portable golf simulator built around a swing mat—so no flying ball—facilitating rec-room play in front of a T.V., provided there's enough clearance to let a driver rip without taking a divot out of the ceiling. 'CWK has been instrumental in establishing and expanding our retail presence, which continues to grow year after year. We highly recommend their services to any brand looking to break into or scale within the retail space,' CEO and founder Daniel Puumalainen who tapped the company to be their wholesale support company. Since partnering with CWK, Caddie Daddy's retail business has also risen to over seven figures annually. As Kornblum continues to grow CWK, the goal is simple: help founders of disruptive businesses solve the challenge of getting onto shelves of national retailers and then keep tabs on those relationships. He provides direction on everything from refining packaging, boosting sell-through rates and increasing SKU counts to seasonal timing. He's providing the map to get product in stores and the compass to navigate the shifting winds of retail.
Yahoo
13-05-2025
- Business
- Yahoo
CWK Q1 Earnings Call: Cushman & Wakefield Outpaces Expectations with Broad-Based Growth, Cautious on Macro
Real estate services firm Cushman & Wakefield (NYSE:CWK) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 4.6% year on year to $2.28 billion. Its non-GAAP profit of $0.09 per share was significantly above analysts' consensus estimates. Is now the time to buy CWK? Find out in our full research report (it's free). Revenue: $2.28 billion vs analyst estimates of $2.23 billion (4.6% year-on-year growth, 2.5% beat) Adjusted EPS: $0.09 vs analyst estimates of $0.02 (significant beat) Adjusted EBITDA: $96.2 million vs analyst estimates of $83.78 million (4.2% margin, 14.8% beat) Operating Margin: 2%, up from 0.9% in the same quarter last year Free Cash Flow was -$166.6 million compared to -$138.4 million in the same quarter last year Market Capitalization: $2.54 billion Cushman & Wakefield's Q1 results reflected broad-based growth across its service lines, with management emphasizing momentum in both leasing and capital markets activity. CEO Michelle MacKay credited a simplified organizational structure and strategic investments made over the past 18 months for driving operational agility and sustained client demand, noting, 'We are now attacking growth, and we are delivering results ahead of schedule.' Stronger-than-anticipated performance was seen across the Americas and Asia-Pacific, while Europe, the Middle East, and Africa (EMEA) faced macroeconomic headwinds. Looking ahead, management's guidance remains steady, although they acknowledged heightened economic uncertainty could affect the pace of recovery. CFO Neil Johnston reaffirmed full-year revenue targets but flagged a wider range of potential economic outcomes, stating, 'We will remain flexible and watchful at the operating environment and make any necessary adjustments.' The company's approach is to balance continued investment in talent and technology with ongoing debt reduction as it seeks to capitalize on what it sees as the early stages of a multi-year commercial real estate recovery. Cushman & Wakefield's management attributed Q1's outperformance to a combination of internal operational improvements and recovering client demand, particularly in leasing and capital markets. They highlighted specific initiatives and end-market trends affecting each region and service line. Leasing and Capital Markets Growth: The Americas showed double-digit growth in both leasing and capital markets. Leasing activity was buoyed by return-to-office trends and stable demand for quality office and industrial space, while capital markets benefited from robust activity in Japan and the UK. Service Line Diversification: The company's global occupier services and facilities management businesses achieved mid-single-digit organic growth, supported by new contract wins and strong client retention, especially in Asia-Pacific. Talent Acquisition and Retention: Management reported accelerated hiring of high-performing teams in capital markets and leasing, with more new brokers onboarded in the Americas year-to-date than in all of last year, aiming to further solidify market share. EMEA Headwinds and Green Shoots: EMEA performance lagged due to macroeconomic weakness and the unwind of project management work. However, property management in the region grew and UK capital markets showed signs of recovery after interest rate cuts. Balanced Capital Allocation: The company continued to reduce debt, paying down $25 million this quarter, and refinanced a portion of its term loan at a lower rate, while maintaining investment in growth initiatives. Management's outlook is anchored by expectations of continued steady growth in leasing, capital markets, and services, but tempered by macroeconomic volatility and region-specific risks. Demand for Quality Space: Return-to-office mandates and evolving workplace strategies are expected to support ongoing demand for office and industrial leasing, with longer average lease terms pointing to increased client confidence. Market-Specific Recovery Pace: The Americas and Asia-Pacific are forecast to lead growth, while EMEA's recovery may be gradual due to persistent economic challenges and slower project management activity. Investment and Capital Discipline: The company plans to accelerate investments in talent and technology to drive long-term growth, while maintaining a focus on deleveraging and prudent capital allocation to navigate uncertain market conditions. Ronald Kamdem (Morgan Stanley): Asked about drivers of the 100 basis point margin improvement; management pointed to stronger-than-expected leasing and services revenue, with some benefit from expense timing. Ronald Kamdem (Morgan Stanley): Queried about the potential impact of tariffs and macro uncertainty on leasing and capital markets; CEO Michelle MacKay stated that less than 5% of clients are delaying decisions and no decision-making freeze has occurred so far. Anthony Paolone (JPMorgan): Asked if a potential recession would affect office leasing; MacKay replied that demand remains strong, with longer lease terms and no major softening projected in forward models. Anthony Paolone (JPMorgan): Sought details on recruiting and retention; MacKay emphasized ongoing investment in talent, noting the addition of new capital markets and leasing teams. Pat McIlwee (William Blair): Inquired about EMEA services softness and capital allocation balance; CFO Neil Johnston noted EMEA's weak macro environment but highlighted property management growth, while MacKay said capital allocation priorities remain unchanged. In the coming quarters, the StockStory team will monitor (1) continued momentum in Americas and Asia-Pacific leasing and capital markets, (2) evidence of margin stability as investment spending rises and expense timing reverses, and (3) signs of recovery or further contraction in EMEA, particularly in project management and property management. Progress on debt reduction and successful onboarding of new talent will also be closely tracked as indicators of execution. Cushman & Wakefield currently trades at a forward P/E ratio of 9.8×. Should you double down or take your chips? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. 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