All articles by Bob McGee – Page 16
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AnalysisThe top sporting goods industry performers by sales and profit Q1 2023
Our 2023 Q1 Scorecard includes the revenue and profit development of 48 sporting goods companies, as well as the headlines and analysis
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ArticleLululemon posts strong quarter helped by Greater China
Fueled by a 30 percent increase in traffic, a 79 percent jump in sequential Greater China quarterly sales, and a 430-basis-point improvement in product margin as air freight costs abated, Lululemon Athletica Inc. reported strong Q1 results that exceeded its sales and profit expectations. With the strong showing, the company ...
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ArticleSporting Goods 2022 – The top companies worldwide by sales and profit
Our updated 2022 Sporting Goods Scorecard brings you the industry winners, with revenue & profit development of 47 sporting goods companies.
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News briefsAthleta Q1 sales fall by 11 percent
Athleta, the Gap-owned retailer, which continued to face consumer pushback to certain products during the period, reported an 11 percent year-over-year decline in Q1 sales to $321 million. However, revenues were 45 percent higher than in Q1/19 before the pandemic commenced. Comparable store sales fell by 13 percent. Athleta ...
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ArticleHummel sets five-year targets, new DC costs impact FY22 profitability
After achieving a record turnover in 2022 of 2.218 billion Danish kroner (€297.8m), a 20 percent year-over-year increase in local currency from DKK 1.858 billion in 2021, Hummel has established its growth target for 2028. The Danish group is aiming to reach DKK 4 billion (€537m) and a minimum annual ...
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News briefsTopsports sticks to gameplay despite volatile years
The Chinese sportswear retailer offering a portfolio of athletic brands, dominated by Nike and Adidas, suffered a 25 percent drop in net income attributable to shareholders to 1,836.6-million-yuan renminbi (€258.8m) for the 12 months ended Feb. 28. Gross margin slipped by 170 basis points to 41.7 percent from 43.3 percent ...
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ArticleCost-cutting helps Nautilus reduce Q4 operating loss
Aiming to strengthen its financial footing and return to profitable growth in FY24, Nautilus lowered its Q4 operating loss by 20 percent to a loss of $17.5 million versus a loss of $21.9 million through numerous cost-cutting measures in recent months. These actions included reducing its workforce by 15 percent ...
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ArticleVF Corp. has a “realistic” turnaround strategy in place
VF Corp., which has begun a rigorous six- to 12-month process to find a new CEO, says it has a plan in place that will improve its sales and profitability fortunes over the next 12 months. It centers on continued growth for its The North Face (TNF), EMEA, and direct-to-consumer ...
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ArticleJD Sports eyes 3.9% profit increase before tax and adjusted items in FY24
Britain’s JD Sports, coming out of a financial year where Ebit declined by 33 percent to £440.9 million (€507.6m) from £654.7 million due to exits from branded fashion businesses and the cost of shuttering its South Korea operations at a total expense of £550.5 million, is aiming to hit the ...
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ArticleFarfetch reports Q1 loss, but GMV grows in key markets
Farfetch Limited, the Internet platform for luxury goods whose year-over-year SKU base grew to a record 17 million units from over 1,400 sellers in Q1, lost $174.3 million against a profit of $728.8 million in the period ended March 31. Revenues increased by 8.1 percent to $556.4 million from $514.8 ...
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ArticleFoot Locker lowers full-year outlook on “challenging backdrop”
Foot Locker, after reporting a 73 percent drop in Q1 operating income to $61 million and an 11.4 percent decline in total sales to $1,927 million for the period ended April 29, dialed back its FY23 outlook for revenues, comp sales and gross margin for the 12 months. The news ...
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News briefsKMD Brands sees sales growth across brands in Q3
New Zealand-based company KMD Brands offered a trading update on its three brands for the period ended April 23, saying Rip Curl, Kathmandu, and Oboz each generated sales growth. With the group reporting Q3 consolidated, year-over-year sales growth of 15.6 percent, Oboz had the period’s largest sales increase at 120.3 ...
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News briefsGoldwin swings to strong FY profit
Goldwin’s operating profit surged by 33 percent to ¥21,904 million (€159.9m) from ¥16,501 million for the 12 months ended March 31. Annual net profit increased by 46 percent to ¥20,977 million (€153.1m) from ¥14,350 million as 12-month revenues rose by 17 percent to ¥115,052 million (€839.9 m) from ¥98,235 million. ...
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News briefsSouth Korea, North America pace Dunlop’s Q1 sales growth
Japan’s Sumitomo Rubber Industries sports segment generated a 37.2 percent year-over-year increase in Q1 net income to ¥5,459 million (€39.9m) from ¥3,980 million. Quarterly sales in the Dunlop Sports unit, bolstered by higher year-over-year golf sales in North America and South Korea and strong tennis sales in Europe, rose by ...
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ArticleStrong regional demand fuels Yonex’s FY23 results
Yonex reported double-digit gains in operating profit and total sales for the 12 months ended March 31. The Japanese group’s FY23 operating profit rose by 49 percent to ¥10,063 million (€70.4m), and net profit increased by 27 percent to ¥7,331 million (€51.3m). Annual revenues grew nearly 44 percent to ¥107,019 ...
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ArticleEMEA, Asia-Pacific fuel Q4 sales growth for Canada Goose
Higher direct-to-consumer revenues coupled with the absence of pandemic-related restrictions helped Canada Goose achieve double-digit revenue growth in the EMEA and Asia-Pacific regions in Q4 ended April 2. Period operating income was C$17.2 million (€11.9m) versus C$0.9 million, but the group reported a net loss of C$10.0 million (€6.9m) against ...
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ArticleDescente forecasts 9 percent FY23 operating income growth
Descente’s annual revenues of ¥120,614 million (€815.5m) in FY22 exceeded its Nov. 2022 forecast of ¥118,000 million as the company generated higher year-over-year sales in Japan, South Korea and China. The group realized significant profit improvement in both Japan and South Korea but lower year-over-year profits in China due to ...
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ArticleOn Holding raises FY23 outlook; UK, Germany drive EMEA in Q1
On Holding hiked its FY23 revenue forecast by 2.4 percent to at least 1.74 billion (€1.79b) today as it reported 78 percent Q1 revenue growth to CHF 420.2 million (€418.6m) and a 166 percent year-over-year Ebit increase to CHF 51.5 million (€52.9m) for the three months ended March 31. Other ...
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ArticleFila Holdings’ Q1 sales, profits dominated by Acushnet
Struggling with a bloated inventory market in the U.S. and sales channel adjustments in its home South Korea market, Fila Holdings relied on Acushnet Co. to generate the majority of its Q1 revenues and operating profit. Operating income declined by 14.7 percent in constant currency to KRW 160,379 million ...
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ArticleGolf segment helps drive Mizuno to record FY22 sales
Global golf sales coupled with strong baseball, soccer and work segment results in its home Japanese market were key contributors to Mizuno’s record FY22 results. Double-digit year-on-year revenue improvement in all regions Total revenues rose by 23 percent to ¥212.0 billion (€1.44b) from ¥172.7 million for the 12 months ended ...
