Financial Results – Page 67
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ArticleGarmin thrives thanks to home fitness and cycling boom
Garmin’s fitness division saw revenues for the second quarter soar by 17 percent to $294.6 million, as the group benefited from the popularity of home fitness during lockdowns, with advanced wearables and Tacx indoor bike trainers doing well. With the easing of restrictions in May, cycling products proved very popular. ...
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ArticleSigns of recovery for Puma after a difficult quarter
Puma’s revenues for the second quarter declined by 32.3 percent in euros to €831 million, or by 30.7 percent in local currencies, leading to a net loss of €95.6 million, compared with net income of €49.7 million for the year-ago quarter. Sales declined in all regions and all product divisions. ...
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ArticleMoncler aims to double its online business by 2023
While releasing weak results for the first half of the year, marked by heavy losses, Moncler focused on the future and announced the acceleration of its digital transformation. After a fruitful collaboration with Yoox Net-a-Porter, it has decided to directly manage e-commerce, with a view to personalizing the customer experience. ...
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ArticleShimano’s earnings rise by 26%
Shimano’s sales for the first half of the year decreased by 11.9 percent from the year-ago period to 160,255 million yen (€1.3bn-$1.5bn), hampered by lockdowns around the world in response to Covid-19 during the first quarter. However, sales improved in the second quarter due to the soaring popularity of cycling ...
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ArticleCycling craze boosts Accell’s results
The soaring popularity of bikes after the lifting of lockdown restrictions led Accell Group to post strong results for the first half of the year. The post-Covid bike market has been doing especially well in Europe. The Dutch-based company’s sales surged by a whopping 53.1 percent in June, pushing total ...
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ArticleMany Chinese sportswear brands issue sales warnings for Q2
As a result of lockdown restrictions implemented in China and elsewhere during the Covid-19 pandemic, several Chinese sportswear brands have released profit warnings for the second quarter of 2020. Xtep warned that retail sell-through dropped by low-single digits in the quarter. It also has higher-than-usual inventories. The group expects that ...
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ArticleAnta issues warning on first-half profits
Anta Sports Products said it expects to report a drop of about 25 percent in its earnings for the first half of this year, largely as a result of restrictions implemented during the Covid-19 crisis. They are even expected to be down by 35 percent from the year-ago period when ...
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ArticleXXL bounces back
It seems that there is light at the end of the tunnel for XXL ASA, after many quarters stuck in a downward spiral. To turn the business around, the leading Nordic sports retailer has been taking drastic steps such as cutting costs, clearing inventory and searching for new “sustainable” sources ...
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News briefs
Yue Yuen's plants generated 19% less revenues in June
Yue Yuen Industrial reported a 10.6 percent drop to $724.6 in its turnover in June, as compared to the same month a year ago. The company pointed out that its retail segment, represented by Pou Sheng, saw its sales increase by about 3 percent to $314.4 million, which would imply ...
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Article
Macron posts 15.6% sales growth and moves to a new green HQ.
Macron, the Italian specialist in team sports jerseys, posted consolidated revenues of €113.1 million in 2019, which represented a 15.6 percent increase as compared to the previous year and the third consecutive year of double-digit sales growth. Ebitda rose by 16 percent to €15 million. The Italian sportswear company, based ...
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Article
Forum Sport posts its first sales decline in eight years
Forum Sport has posted its first decline in annual sales since 2012. The Spanish sporting goods retailer’s revenues amounted to €124.7 million in the financial year ended on Jan. 31, down by 0.9 percent from €125.8 in the previous year. After a record sales increase of 200 percent on Black ...
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News briefs
Strong recovery and an award for Polygiene
Polygiene is recovering strongly, thanks to its anti-viral technology. In a preliminary statement, the Swedish company indicates that its sales grew by 37 percent in the second quarter, keeping the gross margin at around 70 percent and generating breakeven operating results, compared with a loss of 4.2 million Swedish kronor ...
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ArticleOnline sales support Kathmandu and Rip Curl
Kathmandu Holdings told investors that it expects a 30 percent drop in adjusted Ebitda for the current financial year, in spite of strong online sales during the recent corona-related retail lockdowns in Australia and double-digit sales increases overall after its stores reopened. While it is still more than half way ...
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ArticleJD reports strong gains, but wants to pay less rent
While reporting record results for the financial year ended on Feb. 1, JD Sports Fashion indicated that it will slow down the pace of new store openings, making them partly dependent on the “rental realism” of landlords. The increasingly international sports and outdoor retailer based in the U.K. reported a ...
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News briefs
Decathlon and Sprinter grow in Spain
Decathlon has reported sales growth of 2.9 percent in Spain to €1,952 million, including VAT, for 2019. Sales over the internet went up by 17 percent to €136 million in the country. The number of stores increased by six to a total of 171. Meanwhile, after checking the public record, ...
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ArticleAnalysis: Digital accelerates at Nike after a poor quarter
Nike has decided to accelerate the digital development of its “consumer-direct offence” program after suffering a 36 percent currency-neutral drop in group revenues for the fourth quarter of its financial year, ended May 31. The rate of decline would have been steeper without the fruits of its earlier investments in ...
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News briefs
Goldwin’s new forecast highlights Covid-19’s impact
Goldwin, which also controls The North Face’s trademark in Japan and has a stake in Woolrich International, has issued its outlook for the full year ending in March 2021. It forecasts that revenues will decline by about 23 percent from the previous year to 75,000 million yen (€624.7m-$688.0m). The Japanese ...
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News briefs
Kinnevik sells shares in improving Zalando
Kinnevik, which is Zalando’s biggest shareholder, has sold 10.6 million shares in Zalando to institutional investors, reducing its stake from 26 percent stake to 21.3 percent and taking advantage of a recent increase in the e-tailer’s share price. The announcement came just before Zalando said that it will post significantly ...
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Article
Kappa lifts China Dongxiang’s sales, despite the pandemic
The recent introduction of a direct-franchise model, designed to ensure a sufficient supply of products in the stores through bulk orders of merchandise, lifted the Chinese sports company’s revenues, which were up by 12.6 percent on a comparable basis in the new financial year ended on March 31, reaching 1,841 ...
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ArticleSport 2000 helps retail members through the corona crisis
The coronavirus crisis has shown that buying groups can perform some useful services for their members besides handling relations between retailers and their suppliers. While continuing to work on new store concepts, Sport 2000 International has been helping many of its retail members, who run 3,950 stores in 23 countries, ...
