All articles by Bob McGee – Page 24
-
ArticleMarket Analysis: The sports apparel market
This is an exclusive, yearly statistic available only to subscribers of SGI Europe. It includes revenue and market-share development, as well as a regional breakdown, of the major global sports apparel brands.
-
ArticleZumiez adjusting assortments as customers seek value
Zumiez, the global specialty retailer that operates 70 Blue Tomato stores in Europe, suffered an 85 percent drop in second-quarter operating profit to $5.0 million from $32.0 million for the period ended July 30. Ebit was down by 83 percent to $5.5 million as net income came in 87 percent ...
-
News briefsPeloton Interactive faces federal fines over treadmill recall
Peloton Interactive is facing civil monetary penalties in the United States over its May 2021 recalls of its Tread+ and Tread treadmills, it disclosed in its annual report filing yesterday. Last month, Peloton, working to improve its fortunes after numerous missteps, was informed by the U.S. Consumer Product Safety Commission ...
-
ArticleReebok names new CEO as Matt O’Toole moves to ABG
Source: Reebok Todd Krinsky Reebok has tapped Todd Krinsky, a 30-year company veteran and member of its senior leadership team for more than a decade, as its new CEO. He is replacing Matt O’Toole, president and CEO of Reebok, who is moving to executive vice chairman of ...
-
ArticleWhy sporting goods industry inventories rose by 57% in Q2 2022
The aggregate inventory level for 28 public sporting goods companies, tracked by SGI Europe, rose more than 57 percent year-over-year to more than €31.9 billion at Q2 end and was up by nearly 32 percent from the end of 2021 when it stood at €24.27 billion. Eleven companies had inventory ...
-
Article
Lululemon stays on strong course, no change to markdown strategy
Lululemon’s net income rose 39 percent to $289.5 million from $208.1 million as total revenues increased by 28.8 percent to $1.87 billion from $1.45 billion. Operating income was 38 percent higher at $401.2 million versus $291.0 million. Gross margin slipped by 160 basis points to 56.5 percent from 58.1 percent, ...
-
News briefsAthleta experiences near-term softness on consumer shift
Athleta, The Gap, Inc.-owned women’s active and wellness brand, generated a 1 percent increase in second-quarter sales to $344 million, with year-over-year comparable store sales declining 8 percent for the six months ended June 30. Period revenues were 37 percent higher than in Q2/2019. Despite a modest slowdown in the ...
-
News briefsiFit Health & Fitness reportedly loses key executives as CEO search continues
IFit Health & Fitness, the U.S. connected fitness company that formally withdrew its registration statement for an initial public offering in early April, is losing two top senior executives, according to a report by the NY Post yesterday. CFO Steve Barr, named co-president in February, and Tony Smith, a 28-year ...
-
News briefsJohnson Health Tech posts H1 loss despite revenue gain
Johnson Health Tech, the Taiwanese fitness equipment company, reported an attributable net loss of 328,254,000 Taiwanese dollars (€10.5m) against a profit of TWD 28,0002,000 for the six months ended June 30. H1 revenues for the parent of the Matrix, Horizon Fitness, Vision Fitness and Synca wellness brands rose 2.0 percent ...
-
News briefs
Pegasus Intl. H1 footwear revenues step 36 percent higher
Pegasus International Holdings Ltd. reported a 36 percent increase in revenues from the manufacture and sales of footwear to $2,847,000 from $2,095,000 for the six months ended June 30. Total H1 revenues increased 51 percent to $5,261,000 from $3,479,000. Ebit was $556,000 against $70,000, with gross margin coming in at ...
-
News briefsGlobe Intl. FY net declines 44 percent
Globe International, the Australian parent of the Globe, Salty Crew, Impala Skate, FXD Workwear and Dot Electric Skateboards, reported a 44 percent drop in annual attributable net income to 18,641,000 Australian dollars (€12.0m) for the 12 months ended June 30. Ebit fell 41 percent in the FY to A$27.5 million ...
-
ArticlePeloton Interactive posts $1.24 billion Q4 loss
Peloton Interactive’s CEO Barry McCarthy, in his quarterly shareholder letter, compared the interactive fitness company to a cargo ship like one he worked on as a high schooler, but perhaps he should have considered a cruise ship comparison given the company’s needs to attract more younger, female and value-oriented customers ...
-
News briefsJD.com gets sales boost from sports, outdoor
JD.com, the Chinese supply chain technology and service provider, said sports and outdoor were two of six segments that posted double-digit sales growth in the second quarter ended June 30. During Q2, the group generated 5.4 percent revenue growth to 267.6 billion yuan renminbi (€40.0b). Service revenues rose 21.9 percent ...
-
ArticleXtep profit jumps 38 percent in H1
The operating income of Chinese sportswear brand Xtep International rose 34.8 percent to 922 million yuan renminbi (€130.9m) for the six months ended June 30, with attributable profit increasing 38.4 percent to RMB 590 million (€83.8m). The operating profit margin slipped slightly to 16.2 percent from 16.5 percent. Total ...
-
Article361 Degrees reports 8.7 percent gain in H1 operating income
361 Degrees, which has opted against an interim dividend to preserve cash for the long-term and help meet challenges, generated an 8.7 percent increase in first half operating income to 771.9 million yuan renminbi (€109.6m) for the six months ended June 30. The operating profit margin slipped to 21.1 percent ...
-
ArticleE-commerce, DTC model bolstered Anta H1 Sales
Anta Sports Products recorded a 13.8 percent increase in first half revenues to 25,965 million yuan renminbi (€3,687.0b) thanks to contributions from its direct-to-consumer and e-commerce segments, which helped to offset a 34 percent sales decline in its traditional wholesale business that was adversely impacted by the pandemic. DTC sales ...
-
ArticleNorwegian sports specialty market grew by 3.6% in 2021
According to data compiled by the Norwegian sporting goods industry association, Norsk Sportsbransjeforening, Europe’s highest per capita sporting goods market recorded a 3.6 percent increase in 2021 among its nine top banners to 14,875 million Norwegian kroner (€1.46b) from 14,363 million in 2020. The trade group intends to release a ...
-
ArticleFoot Locker lowers FY22 outlook slightly, but stock soars on CEO hire
U.S. retail chain Foot Locker, which operates 630 doors across Europe, has modified its FY22 outlook downward due to likely additional pressures on its H2 business. But the revision, coupled with a 9 percent decline in second-quarter sales and a 76 percent drop in Ebit for the period ended July ...
-
ArticleSuper Retail Group posts strong H2 comps
Super Retail Group (SRG), the Australian company that owns the Rebel Sport, Boating Camping Fishing (BCF) and Macpac retail chains, posted 2.8 percent annual sales growth to 3,550.9 million Australian dollars (€2,285m) for the 53 weeks ended July 2. Comparable store sales increased by 5.0 percent in H2, aided by ...
-
ArticleSigna Sports United results impacted by continued bike woes
Signa Sports United’s third-quarter results were negatively impacted by deteriorating consumer sentiment and persistent supply chain issues for its bike and e-bike business. The Berlin, Germany company adapted operations in the wake of heightened inflationary pressures and a worsening geopolitical landscape in its core European markets. The adjusted Ebitda ...
