Financial Results – Page 5
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Article
Vulcabras delivers strong Q4, FY23 results
Quarterly and annual results at the Brazilian group Vulcabras group were driven by 13.1 percent sales growth within its athletic footwear division and 104 percent annual revenue expansion for its e-commerce segment to 279.8 million Brazilian reais (€51.6m). Fourth quarter Ebit fell by 1 percent to R$152.5 million (€28.1m) ...
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Article
Foot Locker delivers tepid outlook, delays Ebit margin objective
Foot Locker shares suffered a major setback after the group reported a whopping Q4 net loss of $389 million, outlined weak FY24 guidance, and delayed its Ebit margin range goal of 8.5-9.0 percent by two years until 2026. The news sent FL shares tumbling more than 29 percent, or $10.07, ...
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Article
Technical apparel will fuel Amer Sports’ growth in FY24
Thirty-four days after raising $1.365 billion in an NYSE IPO, Amer Sports conducted its first earnings call as a public company yesterday. While the Arc’teryx, Salomon and Wilson parent delivered Q4 revenues some $20 million above expectations, the quarterly loss was wider than expected. Amre’s shares finished the trading day ...
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Article
Acushnet pleased with golf’s resilience across the EMEA
Acushnet Holdings, the Titleist, FootJoy and Kjus parent, is impressed with golf’s resilience across the region, particularly in the UK, despite experiencing a 1.4 percent constant-currency decline in FY23 EMEA sales to $314.7 million when up against 20 percent growth in FY22. In Q4, the group’s EMEA sales dropped by ...
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News briefs
Xponential Fitness operating income rises by 15 percent in Q4
Xponential Fitness, the global franchisor of boutique fitness brands, which is forecasting 550 new studio openings this year and a 31 percent increase in adjusted Ebitda, reported a 15 percent increase in operating income to $2.95 million for the period ended Dec. 31. The net loss was $9.1 million as ...
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News briefs
Footasylum’s annual sales and profits surge
British retailer Footasylum saw its sales and profits for the year to Jan. 27, 2024 surge, driven by store openings and the implementation of an omnichannel point-of-sale system. The retailer opened a 1,850-sqm flagship in London’s Oxford Street in September, among other openings. Revenues in the year rose by 7 ...
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Article
Moncler Group’s FY23 Ebit increases by 15 percent
In its 10th year as a public company, Moncler Group, the Milan-based luxury group generated 15 percent Ebit growth to €893.8 million from €774.5 million on a 15 percent consolidated revenue increase to €2.98 billion from €2.6 billion.
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Article
Puma expects business headwinds to persist in H1 of 2024
Puma, citing ongoing geopolitical and macroeconomic headwinds and currency fluctuations to continue for at least H1 of 2024, is forecasting mid-single-digit, currency-adjusted sales growth this year and a corresponding operating profit of €620 million to €700 million this year. The predicted Ebit range represents flat to 12.7 percent year-over-year growth ...
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Article
Gildan results benefit from higher customer replenishment
Canadian sportswear firm Gildan Activewear generated an 8.1 percent increase in Q4 activewear sales to $644.0 million, fueled by higher volumes at point-of-sale and stronger year-over-year customer replenishment. There was a strong sales performance from the fleece and ring-spun T-shirt segments. Overall final period results, including sales of underwear ...
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News briefs
New Balance’s European sales grew by 35 percent in 2023
Overall, the privately held Boston company New Balance grew annual revenues by 23 percent last year to reach $6.5 billion worldwide, according to Joe Preston, President and CEO, fueled by double-digit growth and market share gains across every global market. Additionally, the group, which presently counts 350 contracted athletes and ...
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Article
IIC reports another successful year
Intersport International (IIC) closed 2023 with retail sales totaling €13.7 billion. This matched the previous year’s record result despite a very challenging business environment. At the end of the calendar year, the Switzerland-based group had a network of 5,381 stores worldwide, an increase of 72 stores compared to the previous ...
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Article
Globe spinning in right direction with shift in focus
Globe Intl., bolstered by a shift in key product focus to footwear and apparel, generated improved H1 results that included stronger profitability and cash flow from operations for the six months ended Dec. 31. The Aussie group reported a net profit of A$4.9 million (€3.0m) against a loss of A$0.2 ...
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Article
Gymshark’s annual profit drops despite higher sales
UK-based sportswear company Gymshark, which closed its regional sourcing offices in Hong Kong and Mauritius and restructured its North American team last FY, suffered a 32 percent decline in annual operating profit to £20,087,000 (€23.5m) for the 12 months ended July 31, 2023. Net profit, impacted by a 320 percent ...
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News briefs
Bowflex may be on the brink
Bowflex, the publicly traded fitness company, which rebranded itself from Nautilus, is facing liquidity issues that may lead to a bankruptcy filing or an outright sale of the Seattle-based business. In a public filing yesterday, the company cited both deteriorating macroeconomic concerns and a decline in customer demand, challenging its ...
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Article
Wolverine makes progress on turnaround but more bumps likely
Wolverine Worldwide’s CEO leads turnaround, aiming for $140M profit gains in 2024. Despite Q4 losses, strides made in inventory and debt.
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News briefs
Stellar 2023 at 360 Padel Group
360 Padel Group’s revenue for 2023 rose 20 percent year-on-year to exceed €60 million, according to TradeSport. The company’s Pádel Nuestro retail division saw B2C sales rise 22 percent, with own stores doubling their sales. B2B sales rose by 12 percent. Sales at the pádel brand Siux (ProPadel Group), with ...
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Article
KMD Brands sees soft H1 group sales
All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...
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Article
Sales at AFP up 8%, though short of expectations
All for Padel (AFP) – the racquet company within AFP Group, which holds the Adidas license to design, manufacture and commercialize pádel racquets, accessories and courts – had been hoping to generate €34 million in sales for 2023. However, this target was revised down to €31 million in September, and ...
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News briefs
New Wave nets 5% gain in FY23 operating profit
Annual operating profit for Swedish New Wave Group, whose business operates in three segments, increased by 5 percent to 1,577.2 million Swedish kroner (€140.4m) for the 12 months ended Dec. 31 as total revenues inched up by 2 percent to SEK 3,874.6 million (€344.9m) from SEK 3,782.3 million. In Q4, ...
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Article
Crocs brand kicks off 2024 with momentum, $5 billion sales target not until later
The Crocs brand has started 2024 “with momentum” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...