Financial insights for the sporting goods industry – Page 40
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ArticleAdidas reins in FY expectations as Q1 sales dip, China struggles
Adidas cut its expectations for gross and operating margins for the full year and projected that sales and net profit would come in at the lower end of guidance after sales dipped in the first quarter and as it continues to struggle in China, where new Covid-19 lockdowns have worsened ...
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News briefsChampion brand sales hampered by supply challenges
Champion constant currency global revenues increased 6 percent in the first quarter (3 percent on a reported basis) due to strong growth in the collegiate channel but would have risen 14 percent without product supply challenges that impacted parent HanesBrands, Inc. Brand sales outside the U.S. were 10 percent higher ...
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ArticleMoncler posts 61% sales gain in Q1
Moncler generated sales of €589.9 million in the first quarter of 2022, up a reported 61 percent on the year earlier and a 60 percent increase at constant currency rates. In the three months ended March 30, 2022, sales at constant currencies were also 58 percent higher than in the ...
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ArticleVulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
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ArticleRocky Brands posts strong Q1 sales, profits
Net income rose 61 percent to $7.34 million from $4.49 million for the period ended March 31, as total sales soared 90.5 percent to $167.03 million from $87.67 million. But the parent of the Durango and Xtratuf brands, among others, admittedly has work to be done cutting expenses and inventories ...
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ArticleMips reports excellent first quarter
In the first quarter of fiscal 2022, Swedish helmet technology and Brain Protection System (BPS) manufacturer Mips AB reported preliminary net sales of SEK 137 million (€13.22 million), an increase of 65.1 percent year-on-year. Organic growth amounted to 48 percent during the quarter. It is mainly based on the success ...
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ArticleAiresis sees FY losses narrow as revenues rise 41%
Airesis, the Swiss holding company that controls Le Coq Sportif and Movement Skis, saw its net loss in the year ended Dec. 31 narrow to 10.6 million Swiss francs (€10.4m) from CHF 23.4 million the year earlier as consolidated revenues grew by 41 percent to CHF 143.9 million (€140.9m), supported ...
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News briefsStella International Q1 revenues jump 26 percent
Stella International Holdings Limited, a Southeast Asia shoe manufacturer that is also a retailer, generated a 26.3 percent increase in consolidated first-quarter revenues to $383.3 million against $303.4 million. The sales improvement was bolstered by increased orders in its manufacturing business that led to full utilization of its production capacity. ...
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News briefsAmazon's operating income tumbles
Amazon’s first-quarter revenue rose 7.3 percent year-over-year to $116.44 billion. Operating income, however, decreased to $3.7 billion and net loss was $3.8 billion. On a diluted basis, this resulted in a loss per share of $7.56. According to Amazon, this was mainly due to a $7.6 billion loss from the ...
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ArticleColumbia Sportswear posts double-digit sales gains in EMEA, U.S., led by footwear
Columbia Sportswear’s first-quarter net income rose by 20 percent to $66.8 million as total sales increased by 22 percent to $761.5 million against $625.6 million for the period ended March 31. Operating income was down slightly at 11.0 percent versus 11.3 percent, while gross margin was off 170 basis points ...
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ArticlePolygiene posts higher net sales in Q1, sees decline in operating profit
Polygiene reported a rise in first-quarter sales, despite ongoing difficulties due to inflation, supply-chain constraints and the war in Ukraine. The Swedish firm reported net sales of 45.1 million Swedish kronor (€4.3m) for the three months to March 31, an increase of 7.5 percent compared to the same period last ...
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ArticleCallaway sees Topgolf driving growth in new strategic plan
Callaway is eyeing growth from increasing product diversity through Topgolf and apparel, outlining how the off-course game and pandemic-driven activewear and outdoor boom are shifting its sales makeup while continuing to grow golf equipment. The company announced preliminary first-quarter results in conjunction with its annual investor day. First-quarter revenue totaled ...
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ArticleGarmin reports record first quarter revenue, growth in all segments except fitness
Garmin reported total revenue of $1.17 billion in Q1 2022. Strong double-digit growth in the outdoor, marine and automotive segments was primarily responsible for the nine percent year-over-year increase. Only the fitness segment saw double-digit declines, and aviation grew by 1 percent. The gross margin was 56.5 percent, while the ...
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ArticleXXL fails to get boost from Mother Nature in Q1
XXL ASA, citing challenging winter conditions in January and February despite a promising start to the winter season in late 2021, reported a net loss of 175 million Norwegian kroner (€15.4m) in the first quarter ended March 31. Ebitda declined 64 percent to NOK 75 million (€7.6m) from NOK 207 ...
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News briefsNew Wave rides 40 percent growth in sports & leisure
New Wave Group, the Swedish parent of sports brands Craft and Cutter & Buck and distributor of other labels, reported a 41 percent increase in first-quarter sales to a quarterly record 1,774.9 million Swedish kroner (€170.2m) as revenues in the Sports & Leisure segment also increased 40 percent. First-quarter ...
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ArticleSkechers performs despite China, supply chain concerns
Net income jumped 23 percent to $121.2 million in the first quarter on 27 percent revenue growth to a record $1.82 billion versus $1.43 billion for the period ended March 31. Skechers’ top and bottom-line gains were accomplished despite a challenging environment in the APAC region and persistent higher unit ...
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ArticlePuma maintains FY guidance despite 20% sales jump in Q1
Puma said it still anticipates currency-adjusted sales will increase “by at least 10 percent” in 2022, although it left the door open to “upside potential” after posting better-than-expected sales growth in the first quarter. Sales in the first three months of the year increased by 19.7 percent in local currencies, ...
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ArticleSweden’s Löplabbet continues to grow and breaks new records
Intersport Sweden-owned running shop chain Löplabbet closed its books for 2021 with solid growth and new records. For the year, which has been challenging for everyone in the sector, the development was positive in all of the chain’s stores and e-commerce. Source: Löplabbet Stellan Kinell, head of Löplabbet ...
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ArticleBrooks stronger than ever as running industry grows
After ending 2021 with global sales of more than $1.11 billion, Brooks Running expects double-digit year-over-year growth in 2022. Despite ongoing disruptions in the global supply chain impacting the running industry, Brooks claims it will continue to deliver for runners and outperform the competition. In Q1 2022, Brooks took first ...
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News briefs
China Dongxiang sees sales slide in Q4, 2021
China Dongxiang reported a mid-single decline in retail sales at its Kappa and Kappa Kids’ stores in its fourth quarter ended March 31 with same-store sales down similarly. Full-year results were described as negative, with revenues down mid to high-single digits, as same-store sales declined 10 to 20 percent. The ...
