All articles by Bob McGee – Page 12
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News briefsCoDi’s divestiture of Marucci will benefit the company
Compass Diversified’s decision to divest its Marucci Sports business to Fox Factory for $572 million after purchasing the brand for $200 million in 2020 will help the company reduce its cost of capital and give it “greater ability to increase shareholder returns,” it said in a statement. In Q3 ...
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ArticleCrocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in Q4, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the ...
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ArticlePeloton Interactive aims to spin in right direction, but share price dips
After reporting solid Q1 results at or above expectations, Peloton Interactive has set its sights on revenue growth acceleration and substantial positive free cash flow in H2, bolstered by the anticipated relaunch of its Tread+ treadmill, continued expansion of its bike rental program and higher sales contribution from international markets. ...
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ArticleZalando turns nine-month net profit
Berlin-based e-tailer Zalando reports a net profit of €10 million against a €82.7 million loss in the year-ago period. The group described the first nine months of its financial year as “characterized by the normalization of e-commerce penetration, ongoing pressure on consumers’ disposable income, and a delayed fall/winter season start ...
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ArticleCanada Goose lowers FY24 outlook, increases reliance on DTC
Citing an increasingly challenged global macroeconomic environment and a slowing business in September, Canada Goose has lowered its FY24 total revenue outlook by 7 to 14 percent. Total annual sales are now pegged at CA$1.2 billion to CA$1.4 billion (€819m to €956m). The adjusted guidance assumes direct-to-consumer will represent about ...
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AnalysisMarket Analysis: The sports equipment market 2022
Our annual summary compares the 2022 and 2021 global revenue and market-share development of 39 companies and brings you a breakdown via sector.
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ArticleGarmin with strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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News briefsBrooks Running global sales up 5% year-to-date, holds top spot in US run channel
Brooks Running’s year-to-date global revenues are up 5 percent and 7 percent higher year-over-year in the US as the Seattle-based company has reached new runners, recovered from Covid-19-related supply chain disruptions, and normalized inventory levels. Year-to-date sales for the brand in France and the UK combined are up 22 percent, ...
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ArticleVulcabras’ sales rise by double-digits for 13th consecutive quarter
Despite a challenging retail environment and some unfavorable macroeconomic circumstances, the Brazilian Vulcabras group generated record quarterly sales, Ebitda, and gross margin for the period ended Sept. 30. Revenues rose by 10.2 percent to 731.4 million Brazilian reais (€136.7m) as Ebit improved by 42 percent to R$149.1 million (€27.9m). E-commerce ...
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ArticleVF Corp. abandons guidance, commences turnaround plan led by former Vans President
Admitting its US business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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ArticleDeckers raises full-year guidance again on continued strength from Hoka, Ugg gains
Bolstered by sales contribution from its Ugg brand and continued momentum in its Hoka business, Deckers Brands generated a 76 percent increase in Q2 operating income to $224.6 million on nearly 25 percent total net sales growth to $1.09 billion for the three months ended Sept. 30. Net income was ...
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ArticleMoncler Group’s revenues rise 7 percent in Q3
Moncler Group’s consolidated nine-month revenues rose by 17 percent in constant currency to €1,806.3 million from €1,556.6 million for the period ended Sept. 30. Moncler brand revenues increased by 21 percent in constant currency to €1,496.3 million, driven by ongoing strong growth in the direct-to-consumer channel that increased 18 percent ...
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ArticleSuper Retail Group updates year-to-date sales
Super Retail Group, the Australian parent of Rebel Sport, BCF and MacPac, reported a group sales increase of 4 percent for the first 16 weeks of FY24 that began Aug. 1, and a year-over-year comparable sales increase of 2 percent against 20 percent growth in the same FY23 period. Online ...
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ArticlePuma maintains FY outlook as Q3 gross margin improves
Citing a significantly improved aged inventory issue in Greater China but also ongoing weakness in the U.S. market, Puma reported a second consecutive period of 6 percent currency-adjusted growth to €2.31 billion in the third quarter. Wholesale revenues rose by 3.1 percent currency-adjusted to €1.79 billion, and direct-to-consumer sales increased ...
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AnalysisAnalysis: The latest inventory levels in the Sporting Goods Industry, Q2 2023
Our latest analysis dives into inventory, covering levels at 27 leading sporting goods companies for the period ended closest to June 30.
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AnalysisMarket Analysis: The sports apparel market 2022
Our annual summary of the sports apparel market brings you global revenue and market-share development, and a regional breakdown of 29 companies.
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News briefsAdidas raises FY guidance on stronger core, Yeezy sales in Q3
In releasing preliminary Q3 results, Adidas updated its full-year guidance. The company – citing the impact of Yeezy sales efforts in Q2 and Q3; €200 million in one-time costs related to a strategic review; and a potential write-off of €300 million for remaining Yeezy merchandise that represents a 25 percent ...
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AnalysisMarket Analysis: The athletic footwear market 2022
Our annual summary of the athletic footwear market brings you the global revenue of 25 companies and compares how 2022 shaped up against 2021.
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ArticleNike says it’s “turning the corner” toward greater profitability
Market chatter about Nike’s 9 percent stock price decline over the last month, recent high inventory levels, and 23 percent drop in market value this year had the bears out in force ahead of the company’s Q1 results yesterday. But Nike reported earnings results ahead of expectations and its senior ...
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AnalysisAnalysis: The top sporting goods industry performers by sales and profits in Q2 2023
Facing difficult year-over-year comparisons in many cases, 2/3 of entrants reported lower sales from Q2 2022. Find out more with our scorecard.
