Financial insights for the sporting goods industry – Page 35
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News briefsYue Yuen H1, June sales dragged down by retail subsidiary
Yue Yuen’s sales performance for June and the first half of 2022 was negatively impacted by results from its retail subsidiary in China, Pou Sheng International. Yue Yuen’s net consolidated first-half revenues are down 2.0 percent to $4,709,796,000 from $4,807,112,000 for the six months ended June 30. The results included ...
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News briefsAnta Sports Products updates first half results
Anta Sports Products, impacted by lower foot traffic and weakened consumer sentiment due to the pandemic resurgence in Mainland China, reported “mid-single-digit” growth in Anta branded product sales for the six months ended June 30. Fila branded sales declined low single digits year-over-year, and first-half sales of all other branded ...
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News briefsBH Fitness posts double-digit growth in the professional channel
Exercycle, the company behind Spanish fitness equipment company BH Fitness, saw global sales in the professional channel increase by 20 percent in the first half of 2022 compared to the first half of last year, CMD Sport reported. The company would normally expect sales in the professional channel to account ...
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News briefsPou Sheng Intl. sales fall nearly 25% in H1
Pou Sheng Intl., the subsidiary of Yue Yuen, realized a 24.6 percent decline in accumulated operating revenue to 9,864,815,000 yuan renminbi (€1.45b) from RMB 13,074,740,000 for the six months ended June 30. June revenues at Pou Sheng declined 14.7 percent in local currency to RMB 1,651,214,000 (€242.3m).
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News briefsBosideng makes strong gain in down apparel sales
Bosideng reported a 21 percent increase in annual profit to 2.06 yuan renminbi (€294.7m) for the 12 months ended March 31 as total revenues grew by 20 percent to 16.2 billion RMB (€2.32b). Annual operating profit inched 1.5 percent higher to 2.57 billion RMB as gross margin came in at ...
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ArticleSales up by 18.3% at Decathlon Spain
Decathlon Spain generated revenues of €2.034 billion (VAT included) in 2021, for a year-on-year increase of 18.3 percent. Net profit amounted to €96.7 million, of which €19 million was shared with its 11,910 employees. The Decathlon group’s revenues were up by 12.5 percent for the year. Online sales reached €326 ...
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ArticleIntersport Austria sees business model confirmed; outdoor, ski and bike lead the way
Intersport Austria reported revenues of approximately €325 million in the first half (ended March 30) of its 2022 fiscal year. This represents a 12 percent increase compared to pre-pandemic levels (first half of FY2019). These figures do not include Hungary, Slovakia and the Czech Republic. Source: Intersport ...
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ArticleNike net dips 5 percent on Greater China, persistent supply chain woes
The Nike group remains committed to further advancing its digital and direct strategies worldwide and anticipates a return to growth for its wholesale business in the financial year 2023 as it continues to grapple with elevated transit times for products and to recalibrate a Greater China business that has been ...
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News briefsZalando revises full year outlook due to macroeconomic challenges
Zalando has issued an update for Q2 2022 and revised its guidance for the financial year 2022 due to a further deterioration in macroeconomic conditions during the second quarter, with the EU consumer confidence index decreasing further in June, the company said. The Berlin-based online platform for fashion and lifestyle ...
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News briefsNike to exit Russia for good
According to multiple published reports, Nike, three months after suspending operations in Russia, has decided to exit the country altogether. Slated to report its fourth quarter and full fiscal year results on Monday, Nike’s planned withdrawal follows that of other U.S. firms, such as Coca-Cola, McDonald’s and Google, who have ...
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ArticleChina Dongxiang posts annual loss on lower revenues
China Dongxiang lost 1,747 million yuan renminbi (€247.6m) against a profit of RMB 1,811 million for the 12 months ended March 31. Total annual revenues slipped by 2.7 percent to RMB 1,916 million (€271.6m) from RMB 1,970 million. The gross margin fell to 63.9 percent from 65.6 percent. Assets at ...
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ArticleJD Sports doubles profits but sees flat earnings this year
U.K. retailer JD Sports Fashion has more than doubled annual profits but warns that inflationary headwinds mean that earnings could stand still in the current financial year. It has also highlighted governance issues under the regime of former chairman and chief executive Peter Cowgill, who was abruptly ousted last month. ...
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ArticleSport 2000 to present a more united image internationally
Sport 2000 closed the 2021 financial year with record sales of €5.3 billion, confirming its position in sports retail in the DACH region. Now the sports retail group wants to become more visible worldwide as “One Sport 2000,” as the group announced at this year’s General Assembly. “The specialty sports ...
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News briefsMunich posts 29% increase in annual sales, with exports growing double-digit
Munich, the Spanish company and brand specializing in sports and fashion shoes, reached record revenues of €52.6 million in 2021, marking a 28.71 percent increase compared to the previous year. Exports jumped by 28 percent to €6 million, primarily driven by Europe. Sales in Spain, its primary market, increased by ...
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News briefsXXL braces for difficult second quarter
Norwegian-based XXL ASA, Scandinavia´s largest sport & outdoor retailer with nearly 100 stores and international web stores, cites weakening consumer sentiment and lower current demand for sporting goods in pre-announcing expected results for its second quarter. Ebitda is forecast to decline by nearly 48 percent to a range of NOK ...
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News briefsPou Sheng reports sales decline in May
Pou Sheng International, the distribution and retail subsidiary of Yue Yuen, reported a 19.1 percent constant currency, year-over-year sales decline in May to 1.53 billion yuan renminbi (€213.8m) from RMB 1.89 billion. For the five months ended May 31, Pou Sheng’s consolidated operating revenues were down 26.3 percent to RMB ...
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ArticleZumiez Q1 derailed by tough comparison, higher costs
Operating profit slipped 98.6 percent to $497,000 against $34.3 million for the period ended April 30, as turnover fell 20.9 percent to $220.7 million versus $279.1 million. The retail operator of 741 doors worldwide, including 69 in Europe under the Blue Tomato banner, reported a net loss of $397,000 against ...
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ArticleLululemon delivers balanced, consistent growth in Q1
Net income increased 31 percent to $189.99 million from $144.96 million for the period ended May 1, as total revenues rose 31.6 percent to $1,613.46 million from $1,226.47 million. Operating income increased 34 percent to $260.3 million, representing 16.1 percent of overall revenues versus $193.8 million or 15.8 percent of ...
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ArticleSigna Sports United Q2 sales bolstered by acquisitions
Signa Sports United (SSU), battling worsening consumer sentiment in Europe and persistent bike/e-bike shortages as headwinds, expanded second-quarter revenues by 47.5 percent to €269.0 million from €182.0 million. The increases were aided by including results from its recent WiggleCRC and Tennis Express acquisitions (closed on Dec. 14 and Dec. ...
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ArticleHummel reports record year, triples German business over last three years
Hummel, the nearly 100-year-old Danish company, has reported its best annual results ever. Net profit reached 115 million Danish Kroner (€16.6m) in 2021 as turnover increased by DKK 511 million to DKK 1.858 billion (€249.7m). Wholesale revenues, which grew by 30 percent, remain a priority of the company that also ...
