Financial Results – Page 82
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Article
Nike’s anti-coronavirus playbook works out
Nike’s share price rebounded strongly when the New York Stock Exchange opened on Wednesday morning after the release of the company’s third-quarter results at the end of the previous day. It opened at $80.11 as compared to $66.75 on Tuesday morning and $72.16 on Tuesday evening, partly aided by a ...
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Article
Good results for Anta, despite a loss from Amer
Led by Fila, for which it has the rights for Greater China and Singapore, Anta Sports Products reported a 30.3 percent increase in net income to 5,344 million yuan renmimbi (€695.4m-$752.2m) for 2019, while revenues increased by 40.8 percent to RMB 33,927 million (€4.4bn-$4.5bn). The gross margin and the operating ...
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Article
Efficiency gains boost Stella’s profits
Stella International’s profits for 2019 soared by 54.2 percent to $95.9 million. It attributed this improvement in profitability to progress in migrating production capacity from Mainland China to Southeast Asia, including the ramping up of operations at its new manufacturing facility in Vietnam, which makes sports fashion footwear for Nike. ...
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Article
Record sales for New Wave
The New Wave Group, the company behind Craft and Cutter & Buck, saw sales jump in the fourth quarter by 4 percent to 2,024 million Swedish kronor (€183.6m-$201.0m), or by 1 percent in constant currencies. This is the highest sales level that the Swedish company has ever recorded in a ...
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Article
Technogym’s sales slow down in Europe
Technogym saw a slowdown in its European business in 2019, which the Italian company blamed on uncertainty in the U.K. due to Brexit, weakness in Russia, and a difficult comparison base in Italy with 2018, when key accounts made large purchases from the big Italian supplier of fitness equipment.
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Article
Alpargatas’ growth softened in Q4
Against the backdrop of a Brazilian economy that grew by just 1.0 percent in 2019, in line with the previous one, Alpargatas’ consolidated revenues grew by 9.8 percent last year to 3,712 million Brazilian reais (€672.4m-$724.4m), driven by an improved of Havaianas in international markets. The adjusted net income went ...
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Article
Vulcabras has restructured its production
Noted for its insistence on local manufacturing of athletic and women’s shoes, the owner of the Olympikus brand and licensee of Under Armour in Brazil completed the second wave of expansion of its two main factories in Brazil at the end of last year. While starting the second phase of ...
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News briefs
Decathlon Ireland exceeds €1bn in revenues
According to the Irish Examiner newspaper, Decathlon generated annual sales of more than €1.1 billion in Ireland in 2018 even though its first physical store on the national territory is set to open no sooner than next month – at Ballymun in north Dublin. The main reasons appears to have ...
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Article
Mixed picture for Le Coq
In a preliminary statement, Airesis said that the 2019 financial figures of Le Coq Sportif did not meet the Swiss holding company’s expectations, but the management was able to react quickly, putting the necessary adjustments into action.
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Article
No pressure for the sale of Mammut
As previously reported, the Conzzeta Group plans to divest its Outdoor division, which essentially consists of the Mammut Sports Group. Addressing financial analysts, the Swiss group’s management pointed out, however, that it is under no pressure to sell it at just any price because of the current economic uncertainty.
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Article
Lenzing focuses on specialty fibers to achieve sustainable growth
(updated on March 26) In view of the rapidly spreading cornavirus epidemic, the Austrian fiber producer withdrew its former guidance and said it is now expêecting its results to decline in 2020. Due to a “historically difficult” market environment in 2019, Lenzing posted lower revenues and earnings for 2019. Sales ...
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News briefs
Standard & Poors and Moody’s downgrade Boardriders
Standard & Poors and Moody’s have both downgraded the credit rating of Boardriders, the parent company of Quiksilver, Roxy, Billabong and other action sports brands. S&P has reversed its outlook to negative based on results and guidance provided by the company to the rating agency. It feels that its operating ...
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Article
Mixed results at Foot Locker
Globally, Foot Locker’s sales decreased by 2.2 percent to $2,221 million in the fourth quarter ended on Feb. 1, with a drop of 2.0 percent in local currencies. On a comparable store basis, sales were off by 1.6 percent worldwide, but Foot Locker Europe’s sales were flat and the Runners ...
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Article
With higher sales and visits, Zalando pushes its marketplace
Zalando’s momentum keeps going, and the e-tailer is looking at new ways to grow after posting strong results for the fourth quarter of the year. One of the highlights was a jump in the number of site visits, which progressed by 31.9 percent to 960.7 million.
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Article
Accell’s new focus on Europe bears fruits
Accell Group, the Dutch-based company behind Haibike, Lapierre, Batavus, Raleigh and many other bicycle brands, said that its turnover accelerated across the board in 2019 outside North America, where it is no longer operating directly. Excluding divestitures, the group’s revenues increased by 7.5 percent last year to €1,111 million, with ...
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News briefs
Growing Hoka One One moves into apparel
Hoka One One, the fast-growing running footwear label of Deckers Brands, is launching its first apparel line for runners, walkers, fitness enthusiasts and outdoor adventurers. For the moment, the 27-piece collection for men and women will only be available online at the brand’s American website, hokaoneone.com. Twenty items are also ...
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Article
Adidas posts strong results, but warns about coronavirus impact
The year 2019 was a pretty good one for the Adidas Group. On March 11, the company reported revenue gains in all the regions, with Europe returning to growth, and strong increases in direct-to-consumer sales, while profit margins improved. However, the share price tumbled by about 10 percent as the ...
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Article
Crocs returned to profits in Q4
Crocs continued to reap the benefits of its efforts to restructure, ending the year with a profit against a loss for the same quarter a year ago. In the fourth quarter ended Dec. 31, it delivered strong direct-to-consumer (DTC) growth and sell-through at the wholesale level, leading revenues to reach ...
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Article
Strong momentum for Acushnet and Kjus
The management of Acushnet believes that each of its businesses is has a strong momentum in the new year. In particular, the American golf company controlled by Fila Korea expects that the Kjus brand will continue its rapid progress within golf, benefiting from the launch of a new Gemini rainwear ...
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Article
Many factors weigh on Globe’s profits
The strong U.S. dollar hampered the financial results of the Australian multi-brand skate company for the first half of its fiscal year ended on Dec. 31. The net income was down by 9 percent to 3.9 million Australian dollars (€2.3m-$2.7m). This happened despite a net gain of A$ 3.7 million ...