Financial Results – Page 64
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News briefs
Uvex squeezes growth from a pandemic-dominated year
The Uvex Group’s total sales for its 2019-20 financial year amounted to about €480 million, up by about 1 percent year-on-year. The pandemic boosted sales in the company’s safety segment – responding to demand for respirators, wide-vision goggles, disposable protective gloves and coveralls – but depressed sales in such recreational ...
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Article
Generally positive results for the Chinese sports brands
Chinese companies don’t publish detailed quarterly results, but all the four major public sporting goods companies except 361 Degrees had something positive to say in their preliminary operational updates for the third quarter of 2000, confirming the Chinese industry’s recovery from the coronavirus pandemic. Li Ning Company reported an improvement ...
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News briefs
Double-digit decline for Mammut
Conzzeta Group, the parent company of Mammut Sports Group, said revenues from the Outdoor segment, which only consists of Mammut, declined in the first nine months of this year by 20.0 percent in reported terms to 149.4 million Swiss francs (€139.3m-$163.2m), or by 17.5 percent in constant currencies and on ...
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Article
VF wants to be more agile and digital
After releasing VF Corporation’s figures for the second quarter ended on Sept. 30, the group’s management said it felt that the worst of the Covid-19 crisis is over by now, but pointed out that the crisis will be prolonged, that the situation is going to be “volatile,” and that the ...
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ArticleVF goes back into the black
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management said that year-to-date results have surpassed its expectations across all brands, ...
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ArticleAsos will focus more on activewear
Asos, the international U.K.-based fashion e-tailer, said it will expand its activewear offering as locked-down clients spurned party outfits in favor of sportswear and exercise gear during the Covid-19 pandemic. Asos said that a focus on curating and presenting “the best edit of sports lifestyle and activewear product … from ...
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Article
Babolat hopes to capitalize on the recovery of racquet sports
Like some other outdoor sports, tennis has enjoyed a recovery from the effects of the Covid-19 pandemic of this past spring, as players can easily respect social distancing rules in the tennis courts. In the first half of this year, Babolat, the world leader for tennis racquets, came 20 percent ...
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News briefs
Zalando raises its own expectations
Zalando is performing better than expected. It is now projecting an adjusted operating profit (Ebit) of between €375 million and €425 million for the full 2020 financial year on an increase in total revenues of between 20 and 22 percent. As usual, the growth will be driven by an increase ...
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News briefs
Pittards sees more opportunity than risk in the “new normal”
Despite losing nearly half of its turnover and posting a net loss in the first six months of the year, Pittards sees “more opportunity than risk in the new normal that is emerging.” The British manufacturer of performance leather and leathergoods manufacturer reported a 45 percent drop in sales to ...
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News briefs
Smith contributes to be better than expected results for Safilo
Safilo estimates that its net sales grew by a mid-single-digit rate at constant exchange rates in the third quarter as compared to the same quarter of 2019. It also expects a return to a profit at adjusted Ebitda level. Previously, the company had forecast a moderate decline in sales for ...
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News briefs
Himaraya books a loss, citing the Olympics’ cancellation
The postponement of the Tokyo 2020 Olympics and the cancellation of many other sports events weighed on Himaraya’s performance. The Japanese sporting goods retailer ended with a loss of 789 million yen (€6.3m-$7.3m) in the fiscal year ended on Aug. 31, compared with a net profit of ¥587 million for ...
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Article
Rip Curl saves Kathmandu saleswise, recovers strongly
Kathmandu Holdings scored record sales for its financial year ended on July 31 2020, boosted by the acquisition of Rip Curl during the period. The group’s revenues soared by 48.7 percent to 801.5 million New Zealand dollars (€451.6m-$526.8m), with Rip Curl accounting for 40 percent of the total turnover, but ...
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Article
Fila’s net profit drops by 51%
The pandemic took its toll on the Fila Group, which saw its net income decline by 51 percent to 45,520 million Korean won (€33.3-$37.3m) during the second quarter of 2020, as revenues declined by 34.8 percent to KRW 625,011 million (€457.1-$512.1m), but the Korean-based group managed to improve the gross ...
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ArticleNike’s shares surge on strong e-commerce and European rebound
The Nike group’s share price rose by more than 8 percent in after-hours trading on Wall Street, hitting an all-time record of $130 when the stock exchange opened this morning, after it presented good results for its first fiscal quarter ended on Aug.31, which included an 82 percent jump in ...
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Article
Superdry looks to social media and other strategies to revive brand after losses widen
The U.K.-based brand of street- and activewear is expanding its use of social media “influencers” to drive sales ahead of the launch of its autumn/winter collection. Its action in this area led last year to a 14 percent increase to 3.2 million in the number of followers on social media ...
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Article
Fast ride for Ridestore
Ridestore, an online retailer of private label snowear for extreme sports founded in Sweden just over ten years ago, has reported excellent financial results for the second year in a row, attributing the growth mainly to its successful expansion to other parts of Europe and North America. For the financial ...
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ArticleLe Coq Sportif intensifies focus on ‘Made in France’ products after posting a loss
Airesis, the Swiss holding company of Le Coq Sportif and Movement Skis, widened its net loss for the first six months of 2020 to 18.5 million Swiss francs (€17.2m-$20.4m), compared with a loss of CHF 1.9 million in the prior-year period. Consolidated revenues tumbled by 52.7 percent to CHF 32.2 ...
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Article
Action in and around the Danish sports retail market
Russia’s leading sporting goods retailer, the Sportmaster Group, had no immediate comment on a report in the Danish press that it intends to develop the Sportmaster banner all over Europe, after turning around the Danish retail operation by the same name, which it bought at the end of last year, ...
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ArticleApex’ losses widen while it seeks strategic alternatives
Impairment charges of close to $10 million, mostly related to the impact of the Covid-19 pandemic; weighed on the profits of Apex Global Brands, previously called Cherokee Global Brands. The net loss for the parent company of Hi-Tec, Magnum,Tony Hawk and other brands expanded by 5 percent to $1.3 million ...
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Article
Peloton posts its first profit
Boosted by the home fitness trend spurred by the coronavirus pandemic, Peloton Interactive, the American online-driven supplier of stationary bikes and treadmills founded in 2012, recorded its first profit in the fourth quarter of its latest financial year, ended on June 30, as its revenues jumped by 172 percent to ...
