Financial Results – Page 65
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News briefsCrocs sees Q3 sales up by 10%
Crocs expects its third-quarter revenues to rise by about 10 percent as compared to $312.8 million in the third quarter of 2019, thanks to ”exceptional consumer demand and strong sell throughs,” said Andrew Rees, president and chief executive. The U.S. government’s stimulus package fueled demand for its products over the ...
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ArticleZumiez’ profits surge by triple digits
Zumiez, the American action sports retailer that owns Blue Tomato in Europe and Fast Times in Australia, bounced back in the second fiscal quarter ended on Aug.1, after a difficult start of the year due to retail lockdowns. Its net income soared by 181 percent to $25.4 million, on revenues ...
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ArticleSports products outperform shoes and leathergoods at ANWR
In the first seven months of this year, the total business volume of the ANWR Group went up by 53 percent to €10.2 billion, driven by a 76 percent increase to €8.6 billion in financial services, but the buying groups of ANWR suffered a 10.7 percent decrease in their own ...
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ArticleTechnogym prioritizes DTC and home fitness
The big Italian-based fitness equipment supplier is shifting its focus from the gyms to the consumer after booking a 50 percent sales increase in its relatively small Home & Consumer segment for the first half of this year, as more and more people performed their workouts at home rather than ...
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Article
Lululemon sells more than it had projected
Thanks to strong gains in e-commerce, and despite disruptions in stores because of the Covid-19 pandemic, Lululemon Athletica managed to grow revenues by 2 percent to $902.9 million in the second quarter ended on Aug. 2, with a growth of 3 percent in constant currencies. Direct-to-consumer net revenues represented 61.4 ...
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ArticleJD reinstates guidance as H1 sales were better than expected
Instead of continuing to withhold its financial guidance like many other companies, JD Sports Fashion is now forecasting annual pre-tax profits of at least £265 million (€293.0m-$345.8m) for the current firscal year, while releasing better-than-expected sales figures for the 26 weeks ended on Aug. 1, despite the coronavirus pandemic. This ...
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Article
New management for Kesko’s resilient sports unit
Sami Kiiski, a 44-year-old manager who left as chief executive of Halti at the end of July after turning the company around, has taken the leadership of Kesko’s Leisure Trade division, which includes Intersport Finland, the major player in the Finnish sporting goods market. One of his tasks will be ...
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ArticleSteep sales declines at two Chinese shoemakers
Stella International posted a net loss of $9.3 million for the first half of this year, against net income of $39.2 million in the year-ago period, on revenues that dropped by 32 percent to $511.5 million. The gross margin fell by 1.4 percentage points to 16.6 percent, due to cancelled ...
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Article
Xtep’s new acquisitions boost turnover, but profits drop
Last year’s acquisition of K-Swiss and its various footwear labels, including Palladium and Supra, helped Xtep International Holdings of China to show good revenues for the first half of this year. A smaller contribution came from the company’s new joint venture with Wolverine Worldwide, from the Merrell and Saucony brands. ...
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ArticleViralOff helps Polygiene to thrive during pandemic
Polygiene is at the center of media attention since it launched ViralOff, a fabric treatment with antiviral properties, in April. In the context of Covid-19 outbreak, demand for the garment has soared, and the group expanded its scope from initially treating protective clothing, face masks and other hospital products to ...
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ArticleAnta Sports switches to DTC in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
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News briefs
Cycling boom benefits Giant
The Giant Group posted revenues of $33 billion Taiwan dollars (€1.0bn-$1.1bn) for the first six months of this year, representing a 7.5 percent increase as compared to the first half of 2019. Sales were boosted by increased global demand for bicycles following the coronavirus lockdown period, as many consumers have ...
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ArticleGlobe faces pressure from strong U.S. dollar
U.S. tariffs introduced early in the year and the strengthening U.S. dollar weighed on the results of the multi-brand skate company, Globe International, during its latest fiscal year. Net profit after tax for the twelve months ended June 30 declined by 26 percent to 6.1 million Australian dollars (€3.7m-$4.4m). This ...
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ArticleFrasers Group survives an annus horribilis
The management of Frasers Group, formerly known as Sports Direct International, said the past year will likely be remembered as the most challenging year in the history of the company. It cited political uncertainty around Brexit, the Covid-19 crisis and a Belgian tax investigation for an amount of €674 million. ...
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ArticleNew strategies make Li Ning resilient
Li Ning fared better than most of its Chinese peers during the first half. While its net income declined by 14 percent from the year-ago period to 683.3 million yuan renminbi (€82.8m-$98.7m) in reported terms, its adjusted net income progressed by 22 percent when excluding a RMB 269.9 million (€32.7m-$39.0m) ...
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News briefs
Sequential Brands' losses decline
Sequential Brands, which licenses brands such as And1 and Avia, saw its net loss decline to $2.78 million in the second quarter from $4.59 million in the year-ago period, although its revenues from continuing operations contracted by 14.4 percent to $22.6 million. Adjusted Ebitda improved to $15.1 million from $13.3 ...
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News briefs
Yonex sees gains in Europe and North America
Yonex’ revenues went down by 44 percent to 8,200 million yen (€65.0m-$76.3m) in the first fiscal quarter ended on June 30. In Japan, which represented 40 percent of turnover, sales declined by 65 percent from the year ago quarter. However, In North America, they rose by 15 percent to represent ...
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News briefs
Iconix’ sales drop by 35%
The Iconix Brands Group, which owns several brands including Umbro and Danskin, faced an impairment charge of $5.2 million for the second quarter due to store closures and other restrictions related to the coronavirus outbreak. The charge led the company to post a net loss of $17.4million, versus net income ...
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News briefs
Big recovery at Foot Locker
In a preliminary statement that sent its stock price high, Foot Locker revealed a jump of 18 percent in same-store sales during its third quarter ended on Aug. 1. Analysts had forecast a loss for the company, but Foot Locker indicated that it may have even beaten the $60 million ...
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Article
Asics posts heavy losses
After ending the first quarter in the red, Asics posted steep losses again in the second quarter. They reached 11,700 million yen (€92.5m-$109.5m), versus a profit of ¥2,100 million for the same quarter last year. Sales were off by 21.5 percent to ¥146,800 million (€1.16bn-$1.37bn) in the period, or by ...
