Financial Results – Page 69
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News briefs
Ugg’s decline offset by Hoka One One and Teva
Despite headwinds from Covid-19, robust sales at Hoka One One and Teva helped limit the damage for Deckers Brands’ revenues in its fourth fiscal quarter, ended on March 31. The group’s quarterly sales declined by 4.9 percent to $374.9 million, or by 4.5 percent in constant currencies, while net income ...
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News briefs
Giant’s Q1 results are hit by the pandemic
Giant saw its revenues in the first quarter decline by 9.3 percent on an annualized basis to $444.5 million. The net income before taxes dropped by 16.9 percent to $27.4 million. Sales of e-bikes and traditional bikes in many European countries were hit by strict shutdowns in connection with the ...
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Article
VF claims it can hike through the Covid storm easily
In releasing its financial results for the fourth quarter ended on March 31, the management of VF Corp. insisted that the company is in a better position than some of its competitors to navigate through the “storm” caused by the coronavirus pandemic for several reasons, including good liquidity, a flexible ...
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News briefs
Nike stores are reopening
As of May 14, all of Nike’s owned stores and more than 95 percent of its partner stores in Greater China and South Korea were open, although some still have shortened hours. Store traffic there remains low, according to Nike, but overall retail traffic and conversion rates are rising and ...
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Article
Heavy losses for Yue Yuen
As China struggled with the coronavirus outbreak early in the first quarter, Yue Yen Industrial Holdings was strongly impacted by government measures to contain the spread of the disease. The world’s largest shoe manufacturer posted a net loss of $56.3 million for the period, against net income of $75.5 million ...
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News briefs
Covid-related charge sinks Iconix’ results
The Iconix Brands Group, which owns a host of brands including Umbro, booked an impairment charge of $13.7 million for the first quarter, attributing it to the recent and future effects of the coronavirus pandemic on Umbro and four other brands in its portfolio. The charge inflated the company’s net ...
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ArticleCoronavirus slows Technogym’s sales, but home fitness rockets
Lockdowns and store closures hit Technogym’s sales in the first quarter, although this was partly offset by higher sales of home fitness equipment, as more people exercised indoors. The Italian company’s total revenues dropped by 11.2 percent from the year-ago quarter to €116.8 million, or by 11.9 percent in constant ...
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Article
Dorel rides well on higher demand for bikes
Dorel Sports, the bike division of Dorel Industries, is one of the few businesses that managed to grow through the pandemic. It registered revenues of $188.2 million for the first quarter, representing a 2.0 percent increase from the same quarter a year earlier, driven by strong performances at the Cycling ...
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Article
Mizuno’s profit drops by 23%, but Europe improves
Lower sales of running shoes, combined with a weak home market for golf and other sporting goods, weighed on Mizuno’s sales for its fiscal year ended on March 31. The Japanese group’s revenues declined by 4.7 percent from the previous year to 169,700 million yen (€1.45bn-$1.62bn). The gross margin narrowed ...
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News briefs
Store closures end Black Diamond’s strong growth
Store closures due to the pandemic pushed Clarus Corp.’s sales for the first quarter down by 12 percent to $53.6 million. The parent company of Black Diamond, Pieps and Sierra Bullets saw its net income tumble to $36,000, compared with $3.8 million for the three months ended on March 31, ...
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News briefs
Hi-Tec’s weak international sales weigh on Apex’s revenues
Late last year, Apex Global Brands, previously called Cherokee Global Brands, signed several new licensing and distribution contracts for Hi-Tec with partners in Europe, North America and Asia. In Europe, Hi-Tec is now present in major retail chains such as Urban Outfitters and Foot Locker. Initially known as a footwear ...
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News briefs
Le Coq Sportif and its parent book a loss for 2019
Airesis, the Swiss holding company of Le Coq Sportif and Movement Skis, reports a net loss of 11.4 million Swiss francs (€10.8m-£11.8m) for 2019, compared with a loss of CHF 891,000 in the prior year. Consolidated revenues rose by 3 percent to CHF 157.5 million (€149.7m-£162.6m). Le Coq Sportif, in ...
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News briefs
Flat sales at Helly Hansen
Canadian Tire Corp. reports that Helly Hansen booked a 7.3 percent sales decline in the first quarter ended on March 28, largely due to the sharp decline of the Norwegian kroner against the U.S. dollar, which led to a foreign currency loss of $7.0 million for the Canadian group. In ...
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ArticleUnder Armour sees drops of 23% in Q1 and up to 60% in Q2
Under Armour reported a 22.8 percent hit on its revenues for the first quarter of 2020, down to $930.2 million, blaming about 15 percentage points of the decrease on Covid-19 and warning that they might drop by between 50 and 60 percent in the second quarter. Unlike its peers, the ...
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Article
Acushnet posts lower-than-expected sales and profits
The first-quarter results of Acushnet, the American golf company controlled by Fila Korea, did not meet analysts’ expectations. Sales declined by 5.8 percent to $408.7 million, or by 4.6 percent in constant currencies, due to a decrease in Titleist golf ball sales and FootJoy golf wear, hampered by Covid-19. As ...
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Article
Callaway’s sales and profit plunge
Callaway Golf Co. saw sales for the first quarter decline by 14 percent to $442.3 million, weighed down by the impact of Covid-19 on its golf equipment and softgoods businesses, including the recently acquired Jack Wolfskin brand. Currency fluctuations negatively affected revenues by $4 million. The gross margin decreased by ...
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News briefs
GoPro’s sales are cut by more than half
In line with its previous warning, GoPro reported a turnover of $119 million in the first quarter, more than half the $243 million level of the year-ago period. The transition to a more efficient and profitale direct-to-consumer model reduced operating expenses mitigating the decline in the gross margin, which was ...
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News briefsStore closures weigh on Johnson Outdoors’ sales and profits
Johnson Outdoors’ earnings for its second fiscal quarter, ended on March 27, declined by 7 percent from the year-ago period to $20.4 million. Total revenues were down by 8 percent to $163.1 million, but the gross margin improved by 1.6 percentage points to 46.1 percent, thanks to stronger pricing and ...
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Article
Puma posts a 1.5% drop in Q1
Doing better than some competitors, Puma reported sales declines of only 1.5 percent in euros and 1.3 percent in local currencies during the first quarter, leading to a 61.6 percent drop in net earnings to €36.2 million on sales of €1,299.8 million, although the company started the year with an ...
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Article
Fitbit returns to profits thanks to U.S. coronavirus aid
Despite a difficult first quarter, with sales hit by the Covid-19 crisis, Fitbit managed to return to profit. It was helped by a $145 million tax benefit from operating loss carrybacks as part of a government program to help companies through the coronavirus pandemic. Net income reached $20.3 million, compared ...
