Financial insights for the sporting goods industry – Page 13
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News briefsSportsshoes.com announces 11% increase in sales, 663,000 new customers in last 12 months
SportsShoes.com has achieved an 11 percent year-on-year increase in turnover to £90m (€105.6 million) and acquired 663,000 new customers in 12 months. The retailer also secured 749,000 orders from repeat customers during the same period. SportsShoes.com offers more than 17,000 products from 150 running and outdoor brands, including Nike, Adidas ...
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ArticleJD Sports bolsters North American presence, reports revenue growth ahead of Hibbett acquisition
JD Sports has reported a revenue increase of 8 percent in North America, reaching £3,413.5 million ($4,340.4 million) for the fiscal year ended February 3. This growth comes ahead of its planned $1.08 billion acquisition of Hibbett, Inc., expected to finalize in the second half of the year, which will ...
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ArticleFoot Locker reaffirms FY outlook as ‘Lace Up’ strategy begins gaining traction
Higher average unit prices, less promotional pricing, and an improved pipeline of new products from key vendor partners in the months ahead, including Nike, has Foot Locker confident that it will meet its FY24 financial objectives. The group, celebrating its 50th anniversary this year and preparing to make a big ...
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ArticleAthleta delivers for Gap Inc. in Q1
Gap Inc.’s CEO Richard Dickson told analysts that its Athleta specialty retail chain has “significant growth potential and a clear and distinct brand positioning rooted in the Power of She.” The latter is being accelerated by a rising global interest in women’s sports and female athletes and Athleta’s decision to ...
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News briefsWomen’s tennis and Saudi investment fund announce multi-year deal
The Women’s Tennis Association (WTA) and Public Investment Fund (PIF) have unveiled a multi-year partnership that is meant to grow women’s professional tennis and inspire more women and girls around the world to take up the sport. As part of the agreement, PIF will become the first-ever naming partner of ...
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News briefsPeloton shares drop as company announces $275m debt offering and refinancing plans
Shares of Peloton Interactive, Inc. tumbled by 16.3 percent following the announcement of the company’s plans for a comprehensive global refinancing effort. The fitness giant revealed it would issue $275.0 million in convertible senior notes due in 2029 as part of a private offering. Additionally, Peloton plans to secure a ...
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ArticleTechnical Apparel segment drives Amer Sports’ Q1 revenue growth
Bolstered by constant-currency growth of 48 percent for its Technical Apparel segment that includes the Arc’teryx business, Amer Sports delivered Q1 sales and profitability above guidance in Q1. Operating profit fell by 16 percent to $109.0 million from $130.4 million in the period ended March 31. Ebit tumbled by 67 ...
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News briefsSuperdry prepares for emergency sale amid restructuring plan uncertainty
Superdry, the British fashion retailer, is facing a pivotal moment as it braces for the potential rejection of a restructuring plan proposed by CEO Julian Dunkerton. If creditors do not approve the plan, Superdry is set to launch a four-week emergency sale process, which could lead to a pre-pack administration ...
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ArticleCanada Goose exceeds expectations in Q4 due to DTC, North America
Canada Goose, which recently hired its first creative director to reshape its product portfolio and elevate its creative aesthetic, reported a 31 percent improvement in Q4 operating income to C$7.6 million (€5.1m) against a C$10.0 million loss in the year-ago period. Net income attributable to shareholders was C$5.0 million. Gross ...
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ArticleAlpargatas maps out new business strategy, turns Q1 profit
Alpargatas spent much of Q1 working on cash generation, capitalizing on efficiencies, and simplifying its business. The effort, largely focused on its home market, included better alignment between sell-in and sell-out levels and cash generation of $260 million Brazilian reais (€46.7m) versus cash consumption of R$271 million. The Brazilian group, ...
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News briefsGoldwin FY operating profit up 9 percent
Japanese group Goldwin reported an annual operating income increase of 9 percent to ¥23,847 million (€141.1m) for the 12 months ended March 31. Annual net income rose by 16 percent to ¥24,281 million (€143.7m). Goldwin’s consolidate net sales for the FY jumped by 10 percent to ¥126,907 million (€750.9m) from ...
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News briefsAlibaba Group posts 8% annual revenue growth
Alibaba Group reported revenues of RMB22.9 billion (US$30.7bn) for the quarter ended March 31, 2024, representing an increase of 7 percent year-over-year. Income from operations was RMB14.8 billion (US$2.0bn), a decrease of 3 percent year-over-year. Net income attributable to ordinary shareholders was RMB3.3 billion (US$453 million). Net income was RMB919 ...
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ArticleOn posts another strong quarter, re-affirms FY24 objectives
The Swiss group generated 29 percent constant-currency sales growth in Q1 to surpass the CHF 500 million mark for the first time ever over three months, bolstered by a 49 percent gain in its Dtc segment and double-digit increases in shoes, apparel and accessories. With the results, On Holdings ...
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ArticleMizuno FY results exceed forecasts
The Japanese group reported a 33.5 percent increase in annual operating profit to ¥17,279 million (€102.7m) and a 44 percent year-over-year gain in profit to ¥14,311 million (€85.1m). Both figures exceeded the company’s guidance for the 12 months ended March 31. Meanwhile, Mizuno’s annual revenues increased by 8.3 percent ...
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ArticleAsics’ Q1 operating income jumps by 53 percent, maintains FY outlook
Bolstered by double-digit operating profits for all five product segments, Asics Corp. reported a 53 percent increase in Q1 operating profit to ¥33,812 million (€202.0m) and a 14 percent improvement in net sales to ¥174,102 million (€1.04bn) for the period ended March 31. Net income attributable to the parent rose ...
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ArticleHanesbrands still weighing options for Champion
Senior Hanesbrands’ executives remain mum on whether the company will retain or eventually divest the Champion business. Still, they confirm the brand will likely reach its low-water sales point in Q2. The completion of an inventory clean-up and a return of the brand’s largely seasonal collegiate business should brighten Champion’s ...
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ArticleAllbirds reduces Q1 loss, confirms FY guidance
With the group’s transformation strategy in progress, Allbirds dropped its Q1 operating loss by 16 percent to $29.8 million from $35.7 million despite a 28 percent decline in sales to $39.3 million from $54.4 million. Lower overall demand and impact from retail store closures and international distributor changes contributed to ...
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News briefsHigher domestic sneaker sales spark Vulcabras in Q1
Brazilian group Vulcabras received a 5.8 percent overall revenue lift to 597.3 million Brazilian reais (€109.4m) in Q1 thanks to a 7.4 percent increase in athletic footwear sales to R$495.4 million (€90.7m) as total pairage stepped up 4.7 percent to 4.2 million pairs. Higher sneaker sales in Brazil from Under ...
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ArticlePuma sees improving trends ahead, maintains FY24 outlook
Puma, now that its most “challenging” quarter of the year is over, is forecasting sequentially improving trends for the remainder of 2024. Stronger sales growth is projected in H2 as the commercialization of developing product trends and impact of the company’s accelerated brand elevation strategy take hold. “We are ...
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ArticleAcushnet maintains H1 outlook despite slow Q1 start in some regions
The Titleist and FootJoy parent is maintaining its H1 outlook calling for a low-single-digit sales increase and year-over-year flat Ebitda despite a Q1 that was affected by a slow start to the golf season in some regions of the world. Operating income fell by 2.8 percent to $121.4 million from ...
