Financial insights for the sporting goods industry – Page 28
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ArticleGoPro aims for $100m in FY23 subscription revenue
If the 20-year-old action camera company reaches the $100 million sales objective from subscriptions this year, it will represent 22 percent year-over-year growth from FY22. CEO Nick Woodman told analysts that GoPro is selling subscriptions “to people who don’t even own” one of its cameras. The company ended 2022 with ...
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ArticleCanada Goose lowers FY23 outlook
Canada Goose, citing slowing momentum in the North American market and worse than anticipated pandemic-related disruptions in China, has dropped its annual revenue guidance by 2 to 8 percent to a range of C$1.175 to C$1.195 billion (€807m to €820m) from a prior outlook of C$1.2 to C$1.3 billion. The ...
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ArticleColumbia eyes 3% to 6% sales growth in FY23, EMEA strong in FY22
After navigating supply-chain issues and product-delivery delays in 2022, Columbia Sportswear is intent on reducing its inventory level to be more in line with demand and generating 3 to 6 percent revenue growth this year in the range of $3.57 to $3.67 billion. The group is also eyeing an annual ...
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ArticleBase Detall Sport doing pre-pandemic business
Base Detall Sport returned to pre-lockdown levels of revenue in 2020. Sell-in amounted to €70 million, up by 19 percent, while the buying group’s associated stores posted sales of about €175 million. Speaking with Diffusion Sport, CEO Toni Maristany ascribes the resurgence to the three pillars of Base’s triennial plan: ...
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ArticleA second consecutive record year at Head Spain
Head Spain broke in 2022 the record it set in 2021 for annual sales, which increased by 27 percent from €18.43 to €27 million. As CEO Jochen Schirmer explained to CMDsport, the most recent full year saw equipment purchases rise in tandem with the practice of sports. Moreover, the end ...
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ArticlePeloton posts strongest quarter in year, but work remains
Peloton Interactive continues to make progress in its turnaround under CEO Barry McCarthy but must achieve numerous objectives in the year ahead if it wants to stay the course.
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News briefs2022 confirmed as a bleak year for U.K. businesses
The number of profit warnings issued by U.K.-listed companies in 2022 increased by 50 percent year-on-year, with record levels of these warnings citing rising costs, according to EY-Parthenon’s latest Profit Warnings report (member firm of Ernst & Young). In total, 305 profit warnings were issued in 2022, an increase ...
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News briefsLockdown boost wanes for Tradeinn
Tradeinn generated revenues of €433 million in 2022, up by 15 percent year-on-year, according to the Expansión and Diffusion Sport. This is nevertheless a decrease in pace. As we reported a year ago, even CEO David Martín was surprised at the figures for 2020 and 2021, when what he called ...
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ArticleIntersport Germany pursues growth plans after record year
Intersport Germany has posted record sales of €3.31 billion for the fiscal year 2021/2022, the highest figure in the company’s history. Sounds familiar? Precisely the same result was reported a few days ago by competitor Sport 2000. Intersport Germany emerged from the 2021/2022 fiscal year, which ended on Sept. 30, ...
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ArticleIntersport International reports record year 2022
Intersport International group, based in Bern, Switzerland, has released its 2022 retail sales data, reporting a 13.4 percent growth from 2021 to a new record retail result of €13.7 billion. Among the 5,300 Intersport stores in 42 countries worldwide, those in Austria, France and Germany contributed the most to the ...
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News briefsLululemon shares take hit on analyst downgrade
Lululemon shares fell $4.87, or 1.54 percent after a Wall Street analyst downgraded the stock to “underperform” on Jan. 24 and slashed its target price to $290, below the company’s closing price at $311.21. Bernstein analyst Aneesha Sherman suggested the company’s shares have a “reset coming” due to numerous factors ...
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ArticleSport 2000 reports another record year
Sport 2000 reports it has continued its growth trajectory of recent years, ending 2022 with earnings that surpass the historic 2021 record.
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News briefsXtep International provides update on Q4, FY22 results
Xtep International is forecasting a high single-digit sales decline, including retail and online channels, for the fourth quarter ended Dec. 31, 2022, when the discount level was approximately 30 percent versus 20 to 25 percent in the year-ago period. Anticipated full-year results call for mid-teens year-over-over revenue growth and a ...
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News briefs361 Degrees Intl. details preliminary Q4 results
E-commerce sales for the Chinese company rose an estimated 25 percent in the fourth quarter, 361° Degrees reported on Jan. 16, but overall core branded sales were essentially flat during the period. Meanwhile, 361° Kids branded sales increased low-single digits year-over-year.
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News briefsHanesBrands raises Q4 outlook and announces CFO departure
HanesBrands, the parent company of Champion and other apparel brands, has announced that it expects fourth-quarter 2022 sales to be slightly above the top end of its outlook range. The company has also adjusted operating profit at the midpoint of the range. Its fourth-quarter investor conference is scheduled for Feb. ...
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News briefsMunich expects 35% sales increase and opens new stores
Spanish sneaker brand Munich expects its sales to jump by around 35 percent in the full fiscal year ending March 31, 2023, to reach €65-70 million. In an interview with trade publication FashionNetwork, Munich CEO Xavier Berneda said that the company’s revenues are projected to exceed last year’s record sales ...
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News briefs
Anta Sports sees improving conditions in China despite soft Anta, Fila brand sales
Faced with lower retail foot traffic and consumer sentiment in the fourth quarter, largely related to ongoing pandemic impacts in certain regions of China, Anta Sports reported “high-single-digit” negative growth for its Anta brand and “low teens” negative growth of Fila branded products. All other branded products sold by the ...
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ArticleWolverine Worldwide’s profitability will be impacted by inventory reductions
Wolverine Worldwide reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings. Wolverine says final earning results, when reported next month, will be at the low end of ...
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ArticleJD Sports sees FY at top end of expectations after Christmas sales surge
JD Sports Fashion said it expected annual profits to be at the top end of expectations after revenues grew by more than a fifth over the Christmas period. Current market expectations for the year to Jan. 28 are for a profit before tax and exceptional items of £933-985 million (€1.05bn-1.11bn) ...
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ArticleOn has various growth levers to pull
On Holding, the Swiss-based “disruptor”, which generated $1 billion in trailing 12-month sales through Q3, continues to focus on innovation and sustainability issues while establishing growth levers to reach younger, Chinese, and apparel consumers as a head-to-toe brand rooted in performance with lifestyle adaptability. On continues to eye a 60 ...
