Financial insights for the sporting goods industry – Page 35
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ArticleWolverine outperforms in Q2, but lowers FY forecast
Wolverine Worldwide, concerned about inventory escalation in various U.S. retail channels and the likelihood of higher wholesale order cancellations in the market for the remainder of the year, has lowered its FY22 outlook downward. Lingering supply chain delays and currency exchange rates also contributed to the revision. The adjustment was ...
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News briefsMizuno Corp.’s Q1 revenues gain driven by golf
Mizuno Corp. total revenues rose by 7.8 percent to 46.2 billion yen (€334.1m) from ¥42.9 billion in the first quarter ended June 30. Golf and recovery in indoor sports contributed to the gain. The Japanese company recorded a nearly 28 percent net profit increase, a quarterly record for the company, ...
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ArticleAllbirds shrinks staff and cuts costs while Q2 loss increases
Allbirds reported a net loss of nearly $29.4 million against a loss of $7.6 million for the second quarter ended June 30. The operating loss was $29.3 million versus a loss of $4.17 million. Total revenues increased 15 percent (18% currency-neutral) to $78.2 million from $67.9 million, with U.S. revenues ...
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ArticleYonex hikes FY outlook on pleasing China recovery
Yonex, citing a better-than-expected recovery in China after pandemic-related lockdowns eased, has increased its H1 and financial year forecasts. The Japanese company has raised its H1 revenue forecast by 20 percent to 48,000 million yen (€342.9m) from ¥40,000 million and its operating profit outlook by 58 percent to ¥6,000 million ...
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News briefsDescente raises forecasts for H1, full year
Descente Ltd., citing a return to a business environment close to conditions before the Covid-19 pandemic, with the exception of some regions, has raised its first half and full-year financial outlooks. First half sales for Descente Japan Ltd. and Descente Korea Ltd. for six months ending Sep. 30 are described ...
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News briefsSales up for H1 at Base Detall Sport
Sales for the first half of 2022 were up by 14 percent year-on-year at Base Detall Sport, according to Palco23. The Spanish buying group’s sell-out for the period was up by 10.5 percent. Base attributes this success to the three-part plan – verticalization, digitalization, and expansion – that it adopted ...
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ArticleGoPro Q1 revenues driven by subscriptions, EMEA and APAC
Action camera maker GoPro is approaching two million subscribers after the total grew 65 percent (or 754,000 subs year-over-year) in Q2 to reach 1.91 million. The company’s subscription and service segment revenues rose 70 percent to $20.1 million for the period ended June 30, while hardware sales declined 1.1 percent ...
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ArticleAlpargatas sees Havaianas’ revenues fall double-digits in U.S., China
Alpargatas suffered double-digit sales declines for its rubber sandal brand in both the U.S. and China during the second quarter but realized an 11.8 percent increase in price per pair during the period. Havaianas’ sales declined 46.3 percent in China to 8.7 million Brazilian reais (€1.7m) due to the country’s ...
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ArticleCrocs lowers outlook, stock price takes hit
Crocs, Inc. lowered its annual revenue guidance and reported a significant decline in its Q2 operating margin, factors which contributed to a nearly 14 percent decline in its stock price early today. The company is now forecasting 14 to 17 percent constant currency revenue growth for its Crocs brand (10 ...
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News briefsAlibaba’s e-com sales decline
In Alibaba’s first quarter ended on June 30, revenues fell very slightly to 205.6 billion yuan renminbi (€29.7bn) from RMB 205.740 billion a year earlier due to a 1 percent decline in revenues in the China commerce segment to RMB 141.9 billion (€20.5bn), offset by revenue growth of the cloud ...
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ArticleCallaway generates double-digit sales gains across all segments, raises FY outlook
In reporting record second-quarter results paced by revenue and operating income growth from its Topgolf driving range venues, Callaway said pricing and other business improvement implemented during H1 have enabled the company to “outrun the ubiquitous inflationary pressures, unfavorable foreign currency exchange rates and staffing challenges.” Net income increased ...
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ArticleeBay exceeds expectations in Q2, sees ongoing global challenges
Online platform eBay has beat analysts’ earnings expectations in its quarterly report for the second quarter of 2022. According to the board, the e-commerce company’s focus on higher-priced products and the sneaker product category mitigated the impact of spending restraint and weakness in some European markets. eBay forecast revenue between ...
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ArticleZalando publishes Q2 figures and reveals adjustment plans to improve order economics
With the release of its second quarter 2022 figures, Zalando has expressed confidence in returning to profitability in the second half of 2022 with a set of measures to address the volatile market environment. In the second quarter of 2022, the number of active Zalando customers grew to over 49 ...
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ArticleUnder Armour prepares for inventory challenges, major drop in FY gross margin, seeks new CEO
Under Armour, which has faced more than its share of challenges in recent years, is bracing for another one but vowing to take its message, products, and brand to more consumers worldwide with renewed focus with more than $600 million in global marketing dollars and unaided brand awareness of 92 ...
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ArticleTechnogym H1 results pumped up by B2B, North America
Technogym total revenues lifted 17 percent higher in the first half to €325,223,000 from €276,255,000, bolstered by a 35 percent increase in B2B sales to €241.4 million and a nearly 53 percent revenue gain in the North American region to €45.3 million on growth in the hospitality & residential and ...
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ArticleAdidas braces for more China woes, potential slowdown in global consumer spending
Adidas, which adjusted its FY22 guidance downward on July 26, reported a 10.2 percent increase in Q2 revenues (+4% currency neutral) to €5,596 million from €5,077 million. The sales gain was achieved despite ongoing supply and demand challenges and more than €300 million in lost revenues related to the factory ...
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ArticleBogner records most successful financial year since 2015
Despite the geopolitical and global economic situation, the German luxury sports fashion company Bogner was able to continue its growth course in fiscal year 2021/22 (ended March 31). The company thereby recorded its most successful fiscal year since 2015, with sales of €166.3 million, up 36 percent on the previous ...
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ArticleGrupo SBF generates 32% of quarterly sales from digital
Grupo SBF, which operates Brazil’s top sporting goods chain in Centauro and has distributed Nike in the South American market since Dec. 2021, reported a 2.7 decline in adjusted Ebitda to 154,764,000 Brazilian reais (€29.6m) for the period ended June 30. Operating income declined by 25.0 percent to BRL $70,503,000 ...
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News briefsPou Sheng warns on significant H1 decline
Pou Sheng Intl., the retail subsidiary of Yue Yuen, issued a revenue and profit warning for the first half ended June 30, citing persistent Covid-related restrictions in China that impacted consumer traffic and sentiment during the six months. The group forecasts a 25 percent decline in H1 revenues to 9,865 ...
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News briefsBasicNet’s H1 Ebit up 82 percent; working on Kappa re-organization
BasicNet’s group net income was €10.7 million against €4.1 million for the first half ended June 30. Ebit improved 82 percent to €15.5 million from €8.5 million in the year-ago period. Aggregate H1 group revenues rose by 28.2 percent to €567.9 million, with commercial licensee sales increasing 17.8 percent to ...
