Financial insights for the sporting goods industry – Page 39

  • JD Sports Fashion
    Article

    JD Sports lifts annual guidance despite footwear shortages

    2022-05-13T07:36:00Z

    Britain’s JD Sports Fashion raised its annual profit outlook, despite a global shortage of key footwear styles and indicated upbeat sales so far this year. The company said it now expected profit before tax and exceptional items for the year to January 29 to be about £940 million (€1.1bn) and ...

  • Yue Yuen
    Article

    Yue Yuen profit dips on retail drag

    2022-05-13T07:08:00Z

    Yue Yuen Industrial reported a 10.8 percent drop in first-quarter net profit to $97.1 million compared to $108.4 million in the year-ago period ended March 31, as growing manufacturing capacity was overshadowed by weak sales at its Pou Sheng Intl. retail subsidiary due to the resurgence of Covid-19 in mainland ...

  • Descente Logo
    News briefs

    Descente sees 12.4% sales gain as profitability improves

    2022-05-13T06:36:00Z

    Descente, the Japanese sportswear company, saw sales in its financial year ended March 31 increase by 12.4 percent to 108,892 million yen (€815.1m), despite the fourth quarter being marked by new Covid-19 lockdowns in China and sluggish apparel sales due to the warm winter in South Korea. Sales of athletic ...

  • Mizuno
    Article

    Mizuno hit record EMEA results last year

    2022-05-13T05:28:00Z

    The Japanese company, bolstered by strong sales in running and golf, reached its highest ever annual revenue and operating profit in the EMEA in the financial year 2021. Total regional sales grew 37.7 percent to 17.9 billion yen (€137.8m) on a ¥1.4 billion (€10.8m) operating profit compared to a ¥0.3 ...

  • Callaway_Golf_Company_Logo
    Article

    Topgolf tees up earnings guidance rise for Callaway after strong Q1

    2022-05-12T07:12:00Z

    Callaway Golf raised annual guidance after a strong first quarter, driven by its Topgolf driving range venues, where sales surged on pre-Covid pandemic levels after a slow start due to the Omicron variant and strong performances from its other segments. Revenue for the three months to March 31 rose 59.6 ...

  • Logo-Yonex.svgz
    Article

    Yonex bolstered by badminton in Covid recovery year

    2022-05-12T07:01:00Z

    Yonex’s sales increased 44.5 percent to 74.4 billion yen (€573.5m) for the financial year ended March 31 as the Japanese company reported strong product sales growth in China on the strength of badminton. As the company recovered from Covid-19 impacts, annual operating profit soared by 553 percent to ¥6,738 million ...

  • Asics_Logo.svgz
    Article

    Asics profit dips 17 percent in Q1 (updated)

    2022-05-12T06:51:00Z

    Asics Corp. recorded declines in operating income and net income for the first quarter ended March 31 as total revenues dipped 1.1 percent to 105,329 million yen (€811.0m) from ¥106,549 million. Strong sales growth of 12.2 percent in North America could not offset significant supply shortages and logistical disruptions caused ...

  • SBF_Logo.svgz
    Article

    Grupo SBF generates 88 percent sales increase in Nike business

    2022-05-12T06:38:00Z

    Grupo SBF, the parent of Brazil’s top retail sporting goods chain in Centauro and a distributor of Nike in the South American market since December, reported a 401 percent increase in first-quarter adjusted Ebitda to 185,390,000 Brazilian reais (€31.5m) for the period ended March 31. Operating income came in at ...

  • WOLVERINE-WORLDWIDE-INC.1
    Article

    Wolverine Worldwide hires Boston Consulting, re-iterates outlook

    2022-05-12T06:01:00Z

    Wolverine Worldwide is maintaining its full-year outlook that calls for total FY22 revenues of $2.775 to $2.85 billion. This represents a 15 to 18 percent year-over-year increase with the DTC segment representing approximately 30 percent of global revenues and the international segment another 35 percent. Wolverine’s top three brands, Saucony, ...

  • Pou Sheng International
    News briefs

    Pou Sheng International reports April, four-month sales

    2022-05-11T12:30:00Z

    Pou Sheng International, the distribution and retail subsidiary of Yue Yuen that issued a first-quarter profit warning ten days ago, yesterday reported a constant currency sales decline in April of 38.2 percent to RMB 1,205,473,000 (€170.3m) from RMB 1,949,603,000. For the four months ended April 30, Pou Sheng’s consolidated operating ...

  • AllBirds-Logo
    Article

    Allbirds adopts more cautious FY22 outlook

    2022-05-11T07:49:00Z

    Allbirds, citing logistics, currency effects, and lower international sales as significant year-over-year headwinds, is taking a more cautious view of FY22. The six-year-old company is forecasting annual sales of $335 to $345 million, 18 percent gross profit improvement to a range of $170 to $177.5 million and adjusted Ebitda of ...

  • Beachbody Co logo
    Article

    Beachbody with losses in Q1, but above forecasts

    2022-05-10T07:41:00Z

    The Beachbody Company, a U.S.-based subscription health and wellness company, reported total revenue of $198.9 million for the first quarter ended March 31, down 12 percent from 2021 and down 6 percent from 2019. Digital revenue was $81.7 million, down 14 percent from 2021; digital subscriptions were 2.46 million, down ...

  • Peloton_Logo
    Article

    Peloton Interactive working to get wheels aligned as losses mount

    2022-05-10T06:10:00Z

    Peloton Interactive’s bumpy ride to a turnaround that includes generating positive free cash flow in financial year 2023 is underway, but many paths remain to be taken before any destination is reached. CEO Barry McCarthy, a former Netflix CFO, has been on the job for exactly three months, and he’s ...

  • Zalando
    Article

    Zalando launches a profit warning as sales decline for the first time

    2022-05-08T18:31:00Z

    Zalando posted the first decline in quarterly sales in its history and launched a profit warning for the full year. In the first quarter, the German online retailer reported a 1 percent increase in the gross merchandise volume (GMV) to €3.2 billion but a 1.5 percent decline in revenues ...

  • Under Armour
    Article

    Under Armour tempers 2023 growth on near-term challenges

    2022-05-08T18:30:00Z

    Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022. The company started a new fiscal year, FY23, on April 1 ...

  • Havaianas
    Article

    EMEA paces Havaianas’ growth for Alpargatas

    2022-05-06T15:11:00Z

    Alpargatas realized 17 percent currency-neutral growth for its rubber sandal brand outside of Brazil in the first quarter to 342 million Brazilian reais (€58.2m) as total pairs sold increased 11 percent to 8.9 million. The EMEA region led Havaianas’ sales gains internationally, rising 25 percent currency-neutral to R$207.9 million (€35.4m) ...

  • Acushnet-Company-logo
    Article

    Acushnet sees supply chain constraints hamper results

    2022-05-06T14:54:00Z

    Acushnet Holdings Corp. posted a 4.3 percent rise (+7.6 percent in constant currency) in consolidated first-quarter sales to $606.1 million against $580.9 million, but net profit dipped 4.6 percent to $81.0 million from $85.0 million. The operating margin declined 3.3 percent to 17.4 percent from 20.7 percent in the period ...

  • Compass-Diversified
    News briefs

    Compass Diversified consumer business paced by Boa

    2022-05-06T14:53:00Z

    Compass Diversified’s (CoDi) branded consumer business was led by Boa in the first quarter ended March 31 as the closure system brand generated a 75 percent increase in adjusted Ebitda to $24.9 million from revenue growth of nearly 56 percent to $56.8 million as compared to $36.5 million. Elsewhere in ...

  • GoPro_Logo
    Article

    GoPro swings to Q1 profit as DTC sales boost revenues

    2022-05-06T13:53:00Z

    Action camera maker GoPro swung to a surprise first-quarter profit, boosted by strong revenues from its DTC channel, subscription services and increased prices. Total revenue was up 6 percent to $217 million, with DTC contributing $89 million, a rise of 8 percent for the channel. Subscribers grew 85 percent to ...

  • crocs
    Article

    Crocs Bolstered by higher ASPs, Heydude acquisition

    2022-05-06T12:35:00Z

    After a strong start to 2022, Crocs, Inc. is eyeing approximately $3.5 million in total annual revenues as it continues marching its way to longer-term objectives of $5+ billion in annual sales for the Crocs brand by 2026 and $1+ billion in annual revenues for the recently acquired Heydude brand ...