Financial insights for the sporting goods industry – Page 27
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ArticleSwedish e-tailer Ridestore nears SEK 1 billion in sales
According to an article on ehandel.se, Swedish e-tailer Ridestore reported sales of just over SEK 1 billion (€90.8m) in its latest financial statements for 2021/2022, including currency exchange gains. Excluding, earnings were SEK 975 million (€87.6m), solid growth from SEK 600 million (€53.9m) the previous year. The privately held company ...
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News briefsXXL raises capital, warns of lower margins and exits Austria in 2023
Norwegian sporting goods chain XXL warns that lower margins will cut into Q4 profits and has decided to launch a NOK 500 million (€47.9m) targeted share issue. The largest owner Altor, led by XXL chairman Hugo Maurstad, has committed to a NOK 119 million (€11.4m) contribution. The capital from the ...
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ArticleNike’s inventory position improves as China recovery commences
In reporting more than a 30 percent quarterly sales increase across three global geographies, growing momentum in its digital business worldwide, better results in Greater China and an improving inventory position, Nike executives told analysts yesterday afternoon that the company “is in a position to control its own destiny.” ...
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News briefsAll for Padel not quite all pádel
CEO José Luís Sicre announced at this month’s seventh edition of International Padel Days in Barcelona that All For Padel is looking to make good on its slogan, “Not everything’s padel,” especially when it comes to international expansion. According to CMDsport, the Adidas retail licensee is looking to move into ...
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ArticleFrasers defies downturn to post rise in H1 profits
U.K. retailer Frasers Group has defied the economic downturn and revealed a jump in first-half sales and profits, driven by acquisitions, including the takeovers of Missguided and Studio Retail. The business, majority-owned by Mike Ashley, reported a 12.7 percent rise in revenues to £2.64 billion (€3.06bn) in the six months ...
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ArticleInternational remains vital in Lululemon’s growth strategy
Lululemon continued its string of strong earnings results in the third quarter with 28 percent revenue improvement and 37 percent growth in operating income, but market concerns over the group’s 85 percent inventory expansion and a gross margin decline sent its shares down more than 6.2 percent in after-market trading ...
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ArticleRendle steps down as CEO, VF revises FY23 outlook
Source: VF Corp. Benno Dorer, interim president and CEO of VF, effective immediately VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board ...
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News briefsDeporvillage raises its sales projections
Black Friday, it seems, has augured better than the second quarter for Deporvillage, which has raised its projections for current-year annual sales to €157 million, according to CMDsport. This would be just shy of the record haul of 2021: €160 million. The week-long pre-Christmas promotion brought in more than 86,000 ...
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ArticleCurrency, inflation weigh on Zumiez results
Zumiez, the global specialty retailer, which sees Europe, Australia, and Canada as its biggest growth areas, suffered a 74 percent drop in operating income to $10.4 million from $39.8 million for the second quarter that ended Oct. 29. Ebit was $9.6 million versus $41.2 million in the year-ago period as ...
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News briefsChina Dongxiang reduces loss despite market challenges
China Dongxiang, which has been a publicly traded company for 15 years, lowered its net loss to 386 million yuan renminbi (€52.5m) from a loss of RMB 748 million for the six months ended Sept. 30. The six-month operating loss was RMB 392 million (€53.4m). Revenues dipped 8.9 percent to ...
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News briefsBjörn Borg reports strong e-com growth in third quarter
Björn Borg currency neutral operating profit, adjusted for non-recurring items, rose 1.5 percent to 53.2 million Swedish kronor. Reported operating profit declined 42 percent to SEK 30.6 million (€2.9m) from SEK 52.4 million for the period ended Sept. 30. The operating margin declined 12.3 percent from 21.8 percent in the ...
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News briefsFarfetch reports wider operating loss despite higher revenues
Farfetch Limited, the Internet platform for luxury goods, suffered a $218.5 million loss in the third quarter versus a $105.7 million loss in the year-ago period ended Sept. 30. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased 1.9 percent (14.1% in constant currency) ...
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ArticleFoot Locker raises FY outlook, decides to exit some geographies
Citing better-than-expected third-quarter results, plans to further realign its brand portfolio and a strategy to move to 300 non-mall locations by 2024, Foot Locker today raised its full-year outlook. The retailer, which has decided to abandon a fourth quarter entry into Japan and exit joint ventures in Benelux and Eastern ...
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ArticleAlibaba’s operating income increases 68%
Alibaba experienced a 3 percent jump in revenues to 207.2 billion yuan renminbi (€28.1bn) from RMB 200.7 billion for the period ended Sept. 30. The increase occurred despite the Covid-19 resurgence in China that depressed consumer demand, currency volatility, higher logistics costs and slowing cross-border commerce. China sales fell by ...
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News briefsMunich eyes another record in annual sales
For the first half of 2022 Munich enjoyed a year-on-year rise of 30.6 percent in revenues, from €24.64 to €32.18 million, according to CMDsport. The Spanish sportswear brand appears to be on track to break its record for annual sales, set last year at €52 million. Fashion is catching up ...
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ArticleRossignol Group plans significantly more revenue, new ESG commitments, novel four-season approach
Source: Rossignol Group Vincent Wauters Under the leadership of Vincent Wauters, president and CEO, who took over the reins of the group in February 2021, the Rossignol Group has announced a new strategic plan called Ascension 2026, according to which the group aims to achieve sales of ...
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News briefsYonex reported strong first half but braces for tough times ahead
Yonex, the Japanese sporting goods company, reported solid first-half results but warned that it anticipates tougher business conditions ahead due to raw material price hikes, the depreciation of the yen, inflation, and general economic condition. The group, however, said it will maintain investments in marketing and human resources “to sustain ...
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News briefsKMD Brands reports strong Q1 performance
KMD Brands, the former Kathmandu Holdings Ltd., achieved positive year-over-year sales growth for all brands in Q1 of its FY23 that ended on Nov. 6. Additionally, the group realized a NZ$30 million (€17.7m) year-over-year improvement in its operating profit for the period and said its gross margin is “holding up ...
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ArticleOn raises outlook again, vows to “protect the position of the brand”
On Holding, after reporting another quarter of strong results, now sees its FY22 revenues growing by 55 percent to 1.125 billion Swiss francs (€1.16b) and its adjusted Ebitda margin hitting CHF 148 million (€152.1m) despite ongoing margin pressure from the combination of a strong U.S. dollar and weak euro. The ...
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ArticleFila raises revenue guidance but sees operating profits under pressure
Korea-based Fila Holdings raised its guidance for full-year sales following the strong performance of its Acushnet subsidiary and a surge in global royalty revenues in the third quarter but cut its guidance for operating profits amid one-off restructuring costs and margin pressure due to promotional activities resulting from challenging market ...
