Financial insights for the sporting goods industry – Page 38
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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 ...
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News briefsRecord loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at -71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK -12.8 million in the first quarter of the ...
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News briefsAlibaba cracks mark of 1 billion Chinese consumers
For the last fiscal year, Alibaba reported a record 8,317 billion yuan renminbi (€1,160 billion) in global gross merchandise value. However, revenue in the quarter ended March 31, 2022, climbed only 9 percent year-on-year to RMB 204.1 billion (€28.5 billion). This is the slowest growth ever, which the company attributes ...
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News briefsIcebug stays true to promoting a sustainable lifestyle as sales and profits rise
The Swedish footwear brand Icebug generated a 37.8 percent increase in annual net profit to 22.83 million Swedish kronor (€2.18m) for the 12 months ended Feb. 28 compared to SEK 16.6 million in the prior year. The financial year profit margin was 9.9 percent as total yearly revenues grew 38.9 ...
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ArticleGymshark FY profit up 47 percent, readies London store
Gymshark Group Ltd.’s net profit rose by 47 percent to £36.5 million (€41.4m) from £24.8 million for the 12 months ended July 31, 2021. Group revenues for the DTC-only brand increased by 68 percent to £401.9 million (€455.8m) from £260.7 million. Financial year operating profit slipped to 11.6 percent from ...
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ArticleNautilus reports Q4 loss as retail re-orders drop
Nautilus recorded an operating loss of $21.9 million against an operating profit of $39.7 million in the fourth quarter as retail re-orders were depressed. Gross margin slid to 17.5 percent from 38.3 percent, a factor that the company blamed on higher product costs, logistics, increased discounting, and additional investments in ...
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ArticleFoot Locker sees FY sales at top end of estimates as Q1 hit estimates
The U.S. retail chain Foot Locker said it now expects full-year sales to be at the high end of guidance after better than expected first-quarter results. Comparable store sales fell 1.9 percent in the first quarter to April 30, better than the 3.5 percent decline expected by analysts. The company ...
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ArticleVF Corp going strong despite slowdown in Q4 sales due to China lockdowns
VF Corp reported a revenue increase of 9 percent to $2.8 billion (€2.65bn) in the fourth quarter of 2022, driven by The North Face (TNF), although sales at Vans were flat during the period. Sales were boosted by a 15 percent increase in the EMEA region and 12 percent in ...
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ArticleDeckers’ revenues top $3 billion for first time, Hoka set to surpass $1 billion
In an exceptional display of corporate resilience and growth, Deckers has announced a record-breaking revenue topping $3 billion. In the spotlight is the Hoka brand, which has not only contributed significantly to this success but is also on track to surpass a significant milestone of $1 billion in sales.
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News briefsWoolrich posts 22% sales increase
Woolrich achieved a 22 percent sales increase in 2021 compared to the previous year. The sales growth was primarily attributed to its new business mix, based on a renewed focus on directly operated retail via both the brick-and-mortar and online channels. Stefano Saccone, who joined Woolrich as CEO in 2019 ...
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News briefsBjörn Borg with best Q1 sales in history
Total net sales from the Swedish Björn Borg Group increased 22.7 percent to 226.6 million Swedish kronor compared to SEK 184.7 in the corresponding quarter last year. Operating profit was SEK 29.3 million (€2.79m), up 30.8 percent from last year’s SEK 22.4 million. Gross profit margin decreased slightly to 50.0 ...
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ArticleCanada Goose will drive DTC sales higher this year
Canada Goose, which is forecasting 18 to 27 percent revenue growth to C$1.3 to C$1.4 billion (€893.1m-€961.8m) this financial year ending in April 2023, intends to grow its Direct to Consumer business for the 12 months in the low to high teens on a comparable basis. If that objective is ...
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News briefsDunlop Sports exceeds expectations in Q1
Sales of Sumitomo Rubber Industries’ sports brands improved 27 percent in the first quarter, from 23,327 million Yen to ¥29,685 million (€219.85m), resulting in an operating profit of ¥3,980 million (€29.48m), up 61 percent from ¥2,468 million a year earlier. The group’s golf brands – Dunlop, Srixon and Cleveland – ...
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ArticleOn raises full-year guidance after beating expectations in Q1
On Holding AG raised its guidance for the full year after reporting better-than-expected sales and profits in the first quarter ended March 31. The Swiss athletic gear company generated sales of 235.7 million Swiss francs (€225.2m), up by 67.9 percent on the year earlier and comfortably above an analysts consensus ...
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News briefsGoldwin’s annual operating profit up 11 percent
Goldwin’s revenues rose by 8.6 percent to 98,235 million yen (€756.4m) in the financial year ended March 31, while operating profit climbed by 11.2 percent to ¥16,501 million (€127.1m), better than a Feb. 10 operating earnings forecast calling for a 5.7 percent decline to ¥14 billion. But the reported annual ...
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ArticleFila’s Q1 operating profit dips on supply chain, Acushnet expenses
Fila Holdings group revenues inched 1.8 percent higher in constant currency to 1,073,563 million Korean won (€751.5m) and were 8.6 percent higher on a reported basis for the first quarter ended March 31. The revenue improvement was attributed to growth in Acushnet sales of 4.3 percent (12.9 percent on a ...
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News briefsTechnogym revenues up double-digits in all but one region
Technogym posted 17.8 percent growth in consolidated first-quarter revenues to €151.6 million, with all geographic regions reporting double-digit sales growth in the period ended March 31. Business-to-business sales, bolstered by double-digit improvement in all sub-segments, rose by 38.8 percent to €104.7 million; business-to-consumer sales, impacted international lockdowns but above the ...
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ArticleThule Group enters new categories, updates financial targets
At its capital markets day, the Swedish Thule Group has presented plans to enter the two new product categories in 2023: car seats – to be launched in Europe first, expanding worldwide in a second step – and dog transport products, starting with a dog cage. The company was also ...
