All articles by Bob McGee – Page 18
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ArticlePuma maintains FY23 outlook despite margin, profitability pressures
Strong growth in Greater China and the direct-to-consumer channel were key contributors to Puma’s 14.4 percent revenue growth to €2,187.7 million from €1,912.2 million in Q1, but the group suffered a 70-basis point drop in gross margin to 46.5 percent on impacts from the higher promotional activity and sourcing and ...
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ArticleGymshark FY results impacted by discounting, restructuring costs
U.K.-based sportswear company Gymshark realized a 38 percent decline in annual profit to £22,529,000 (€25.5m) versus £36,497,000 for the FY ended July 31, 2022. Ebit slid by 39 percent to £27,837,000 (€31.5m), and annual operating profit was down by 37 percent to £29,561,000. The company generated lower profitability despite ...
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News briefsStella Intl. Q1 sales hurt by lower shipments but ASP improves
Hong Kong-based Stella Intl. Holdings Limited suffered a nearly 26 percent drop in Q1 revenues to $277.4 million from $374.6 million. Year-over-year footwear shipments declined by 31 percent to 9.6 million pairs from 14.0 million in the year-ago period as certain sport and casual customers pulled back on ordering to ...
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News briefsLi Ning updates Q1 results
Retail sell-throughs for Li Ning, excluding the group’s Li-Ning Young business, rose by mid-single-digits year-over-year in Q1. The result was bolstered by high-single-digit growth in the offline channel and a mid-teens increase in the retail direct business. Q1 revenues to franchised distributors improved by a mid-single digit as the e-commerce ...
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News briefs361 Degrees updates Q1 results
Retail sales of core 361 Degrees products rose by a low-teens percentage in Q1, the Chinese company reported. Also, retail sales of 361 Degrees Kids branded products increased by 20 to 25 percent, and overall e-commerce sales were up 35 percent year-over-year.
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News briefsChinese firms offer Q1 business updates
Anta Sports Products Limited reported sales increases for all businesses for the period ended March 31. Revenues for Anta branded products rose by mid-single digits year-over-year; Fila brand sales increased by high-single digits year-over-year; and all other brands generated 75 to 80 percent year-over-year sales growth in the period, the ...
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AnalysisAnalysis: Sporting Goods Scorecard Q4 2022 – The top performers by sales and profit
Our Q4 Scorecard includes the revenue and profit development of 48 major sporting goods companies.
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News briefsTechnogym results driven by B2B, North America
Annual operating income increased by 4.9 percent to €82.8 million from €78.9 million for Technogym as the Italian company realized 14.9 percent constant-currency revenue growth to €721.5 million, driven by expansion in the business-to-business sector. Sales to consumers declined by 9.0 percent year-over-year to €165.4 million from €181.7 million but ...
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ArticleLululemon exceeds $8bn in revenue, but impairment charge lowers FY profitability
Citing its balanced growth across channels, categories, and markets, Lululemon reported annual revenue growth of 30 percent in FY22 to $8.11 billion from $6.26 billion, with North American sales increasing 29 percent and jumping 35 percent everywhere else. But the group’s decision to take a $407.9 million impairment charge related ...
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AnalysisAnalysis: Taking stock of sporting goods inventory levels
Our exclusive analysis of the inventory levels of some of the industry’s biggest brands, including how some are responding to the challenges
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Infographics & DataSporting goods company inventory levels in Q4 2022
We’ve compiled inventory levels at the top sporting goods companies in Q4 2022. Found out how they compare with 2021 and across the industry
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ArticleXtep Intl. sees annual revenues surge to all-time high
The publicly traded Chinese company Xtep Intl., whose business models consists of its own label for the nation’s mass market and four western brands (K-Swiss and Palladium, globally, and joint ventures for Merrell and Saucony in Mainland China) targeting the premium market, generated a 29.1 percent increase in 2022 total ...
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ArticleFila’s FY22 profitability driven by Acushnet
Korea-based Fila Holdings, facing sales channel adjustments in its home market and a promotional U.S. business, generated 80 percent of its FY 22 operating profit from its stake in Acushnet Co. The group’s FY22 net profit rose 25 percent on a constant-currency basis to KRW 467,544 million (€327.3m), with Acushnet ...
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ArticleKMD Brands H1 sales grow as pandemic effects subside
KMD Brands, the down-under parent of Rip Curl, Kathmandu, and Oboz, reported Ebit of NZ$31.4 million (€18.6m) for H1 ended Jan. 31. Total revenues rose by 34.5 percent to NZ$547.9 million (€323.8m) as gross margin came in flat at 58.7 percent. Ebitda was NZ$90.8 million (€53.7m) versus NZ$45.3 million. The ...
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ArticleNike’s gross margin takes hit on further inventory liquidations
Nike senior executives, citing persistent efforts to reduce excess inventory and a prior decision to sharply reduce buys for the spring and summer 2023 seasons, insist the company is positioned to begin its next financial year on June 1 in a healthy merchandise position. “We’re increasingly confident that we’re going ...
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ArticleAnta’s FY profit is flat despite revenue expansion
Anta Sports Products, forced to cope with pandemic-related policies that negatively impacted store foot traffic and consumer sentiment across China for most of 2022, reported 8.8 percent growth last year to 53,651 million yuan renminbi (€7.58bn) on a flat net profit of RMB 8,245 million (€1.17bn) against RMB 8,219 million. ...
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ArticleOn Holding sees ongoing momentum in 2023, surpasses the CHF 1bn sales mark
13-year-old Swiss company On, which completed its first full year as a public company in 2022, is forecasting currency-neutral sales growth of 42 percent this financial year to 1.7 billion Swiss francs (€1.69bn), further gross margin expansion toward its mid-term target of 60 percent, and a 150-basis-point growth in adjusted ...
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ArticleLi Ning’s annual profit inches up on 14 percent revenue growth
Li Ning Company realized a 4.9 percent decline in annual operating profit to 4,887 million yuan renminbi (€690.5m) for the 12 months ended Dec. 31 as total revenues increased by 14.3 percent in local currency to RMB 25,803 million (€3.65bn). Retail sell-throughs, including online and offline, lifted higher by a ...
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ArticleFoot Locker Q4 net drops 82%, sets long-term targets and closes Hong Kong stores
Under its new president and CEO, Mary Dillon, Foot Locker outlined its financial objectives for FY24 to FY26 before investors in New York. Simultaneously, the group released Q4 and FY22 results and its outlook for the current fiscal year. Operating income declined by 51 percent to $59 million from $121 ...
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News briefsSSU eyes return to profitability in FY24
The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...
