Financial insights for the sporting goods industry – Page 36
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ArticleVF posts quarterly loss, but EMEA is strongest region
VF Corp. reported a first-quarter loss, related mainly to a $92 million non-cash pension charge. Still, the EMEA region, The North Face and Timberland were the strongest performers for the company in the period ended June 30. In the face of expected currency headwinds, the company is maintaining its fiscal ...
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News briefsVulcabras’ sales, profits soar in Q2
Vulcabras’ net income rose by 207 percent to 95.0 million Brazilian reais (€18.1m) from R$30.9 million for the period ended June 30. Operating earnings (Ebit) increased 73 percent to R$236.2 million (€45.1m). Ebitda was 30 percent higher at R$133.4 million (€25.5m) as the year-on-year gross margin percentage improved to 36.0 ...
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News briefs
Revenues up 71% year-on-year in H1 at ISRG
For the first half of the year, Iberian Sports Retail Group (ISRG) has posted sales of €621 million, for a year-on-year increase of 71 percent. A joint venture between Britain’s JD Sports (50%), Portugal’s Sonae (30%) and the Segarra family (20%), ISRG handles the business of the Sprinter, Sport Zone ...
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News briefsAmazon with strong revenue and guidance despite significant headwinds
Amazon significantly increased its revenue in the second quarter despite high inflation and recession worries. Revenues increased by seven percent year-on-year to $121.2 billion. Although operating profit fell from $7.7 billion to $3.3 billion, it exceeded experts’ expectations. On the bottom line, Amazon posted a net loss of $2.0 billion, ...
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ArticleMoncler results bolstered by big EMEA sales gain
Moncler’s first half profits climbed 260 percent to €211.3 million from €58.7 million as revenues increased 46 percent on a constant-currency basis to €918.4 million from €621.8 million. DTC sales from the Moncler brand rose 33 percent to €555.9 million, with wholesale revenues gaining 14 percent to €168.3 million and ...
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ArticleHoka hits new heights, aims for more
Deckers Brands is working to further enhance Hoka’s escalating sales trajectory and increase its brand awareness with a new “Fly Human, Fly” global marketing campaign, additional expansion outside the U.S. and a broader product reach that will tap into the trail, hike, walking, and lifestyle segments desired by key age ...
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ArticleColumbia revises FY22 outlook, will lean on key markets
At the same time as announcing its results for the quarter with the seasonally lowest sales volume, Columbia Sportswear has reduced its sales and profit forecasts for the full year. The company is concerned about the current state of the consumer and potential retail order cancellations later this year. It ...
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ArticleGarmin’s Q2 revenues hurt by another double-digit drop for fitness
Garmin experienced a double-digit decline in revenues from its fitness segment for a second consecutive quarter. That decrease was the primary contributor to an overall 6 percent sales decline to $1.24 billion from nearly $1.33 billion for the period ended June 25. Overall, double-digit sales improvement for its outdoor and ...
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ArticleAdidas cuts FY 2022 guidance on China weakness and potential slowdown in other markets
Adidas has adjusted its top line 2022 guidance due to a worsening outlook for its Greater China business. While second-quarter 2022 results slightly exceeded expectations, given continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has reported a slower-than-expected recovery in China since the ...
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ArticleSkechers adopts cautious H2 outlook, plans further distribution center investments
Skechers – citing currency impacts, persistent supply chain woes, a slower pace of recovery in China, and an overall uncertain global economic environment – is taking a “cautious view” for the remainder of 2022 after reporting record quarterly revenues. Describing a volatile supply chain environment over the last 4 to ...
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ArticlePuma raises FY revenue outlook, maintains Ebit forecast
Puma, bolstered by its strong first-half sales despite persistent global headwinds, has increased its financial year 2022 revenue forecast to mid-teens currency-adjusted growth from a prior outlook of at least 10 percent sales expansion. Various factors, however, ranging from higher freight costs to rising raw material prices, will dilute the ...
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ArticleShimano sees strong H1 demand despite “cooling down” signs
Shimano reported a 22.4 percent increase in net income to 68,558 million Japanese yen (€491.6m) for the six months ended June 30. Operating income was 15.7 percent higher for the period at ¥80,909 million (580.2m) versus ¥69,922 million in the year-ago period. Pearl Izumi U.S. was excluded from the reported ...
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News briefsJD Sports re-affirms FY Ebit guidance, continues CEO search
Updating its June 22 statement on year-to-date results, JD Sports said total sales in the group’s like-for-like businesses were 5 percent ahead of year-ago levels through June 30. With the positive result, JD is maintaining a performance outlook that calls for profits before tax and exceptional items for the fiscal ...
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News briefs
Northwave's sales up 34% for 2021
Northwave, the Italian specialist in cycling and snowboarding footwear and accessories, exceeded its expectations for 2021, posting a 34 percent rise in revenues to €35.6 million. Export sales topped 85 percent, the main foreign markets being Germany, Italy, Spain and France. Management is looking to countries outside Europe for future ...
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News briefsDeporvillage’s 11-year growth streak ends
In January, when we last checked in with the Spanish multichannel sports e-tailer, Deporvillage had wrapped up an 11th consecutive year of growth. Annual revenues for 2021 were up year-on-year by 40 percent. Things have now changed. Sales for the first and now the second quarter have been flat with ...
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News briefs
Accell Group delisting shares on Aug. 22, going private
Accell Group, with more than 95 percent of shares tendered for a proposed buyout by U.S. financial investor KKR (Kohlberg Kravis Roberts) and Teslin, intends to delist its shares on the Euronext Amsterdam on Aug. 22 and simultaneously convert into a private company with limited liability. KKR/Teslin first revealed its ...
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ArticleFrasers Group recovers from Covid and posts rising profits
Frasers Group, the owner of Sports Direct, reported a “record-breaking year” following the successful recovery from the pandemic.
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News briefs
361 Degrees e-commerce sales rose 40 to 45 percent in H1
E-commerce was the strongest-performing segment for 361° Degrees during its first half, with sales up by 40 to 45 percent. Overall the Chinese company posted an increase in brand sales in the “mid-teens” during H1, as sales of 361° Kids brand products rose by only 20 to 25 percent. In ...
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News briefs
Sprinter eked out a rise in sales over 2021
Sprinter generated €399.9 million in sales over its financial year 2021, according to Diffusion Sport. The period ran through Jan. 31 of last year, and therefore includes the worst of the lockdowns. Although e-commerce sufficed under these conditions to produce a revenue increase of 0.6 percent, net profit was down ...
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News briefs361 Degrees Q2 sales increase
Group retail sales for the core 361° brand rose in the low teens year-over-year in the second quarter with revenues from the separate 361° Kids Brand segment improving 20 to 25 percent. Meanwhile, the company’s e-commerce sales jumped 40 percent year-over-year during the period. During the first half of 2022, ...
