Financial insights for the sporting goods industry – Page 44
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ArticleGood 11-month results allow Accell to repay government Covid credit facility
The company’s growth in sales and profits so far this year will allow the Accell Group to fully repay its “Go-C” credit facility, issued during the Covid-19 pandemic, before the end of 2021. In this context, the Dutch company has also converted its existing revolving credit facility (“RCF”) from seasonal ...
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Article
Lululemon bumps up guidance but Mirror struggles, airfreight costs rise
Lululemon Athletica increased guidance for sales and earnings guidance following a strong top and bottom line showing in the third quarter ended Oct. 31. The upgrade for the year came despite an unimpressive performance by its connected fitness business, Mirror, and higher airfreight costs amid ongoing global supply chain constraints. ...
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Article
Sports Direct’s parent eyes record profits after post-lockdown bounce in H1
Frasers Group - the U.K.-based parent company of Sports Direct and other retail chains – said it was on track to post record profits for its full year, after sales in its first half ended Oct. 24 rose by 23.6 percent to £2,339.8 million (€2,736.6m-$3,089.1m). Top line gains were supported ...
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Kingmaker posts a negative gross margin due to Covid
The mandatory payment of minimum wages to factory workers idled by the Covid pandemic caused Kingmaker to post a negative gross margin for the first half of its fiscal year ended Sept. 30, leading it to report a net loss of 15.5 million Hong Kong dollars (€1.8m-$2.0m) compared with a ...
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Article
Zumiez continued to grow in Q3
Beating analysts’ estimates, Zumiez reported a 5.5 percent increase in net income to $30.7 million for its third quarter ended Oct. 30 on 6.8 percent higher revenues of $289.4 million. The international action sports retailer’s sales were 9.6 percent higher than in the comparable quarter of 2019, when the company ...
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Article
Kappa’s Chinese owner reports a big financial loss
China Dongxiang, whose holdings include the ownership of the Kappa brand in China, reported a huge net loss of 748 million yuan renmimbi (€103.5m-$115.6m) for the first half of its financial year ended Sept. 30, compared with a profit of RMB 1,116.2 million in the same period a year ago. ...
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ArticleAllbirds’ loss nearly doubled on 33% higher sales in Q3
Reporting its first quarterly results as a public company, Allbirds said its revenues grew by 33 percent to $62.7 million in the three months ended Sept. 30, as compared to the same period a year ago, driven by a 42 percent increase in the U.S. to $47.7 million. Sales in ...
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News briefs
Casall grows by 21%
Casall Sport, the Swedish supplier of fitness clothing and equipment, grew by 21 percent to 267 million Swedish kronor (€26.0m-$29.4m) in the past financial year, ended on Sept. 30, leading to a fivefold increase in profits according to Sportfack. In June 2020, when Hanna Hedlund became the company’s CEO, Casall ...
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News briefs
Boosted by Covid, SportsShoes.com reports big gains in its last FY
Sales grew by 37 percent to £92.2 million (€109.9m-$123.7m) at SportsShoes.com during the financial year ended Feb. 28, 2021, leading to an increase of 118 percent in Ebitda to £12.2 million (€14.5m-$16.4m), but they have flattened lately, indicating that the Covid-19 epidemic was a boosting factor last year. The company, ...
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Article
Foot Locker grew by 3.9% in Q3
Foot Locker reported net income of $158 million for the 13-week period ended Oct. 30, after extraordinary charges of $57 million. Excluding one-time items, the adjusted net income increased by 57 percent to $201 million. The net results compare with $265 million in the year-ago period and $125 million in ...
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Article
China’s Topsports improves margins on slightly lower sales
Topsports International Holdings, the leading Chinese sports distributor and retailer spun off by Belle International in 2019, reported a decline of 1.2 percent in total revenues to 15.57 billion renmimbi (€2,128m-$2,407m) for the first half of its financial year, ended Aug. 31. The gross margin improved by 2.9 percentage points ...
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Article
Alibaba cuts guidance after a Q2 profit and sales miss
The Alibaba Group cut its guidance for its full financial year after revenues and earnings came in below expectations in its second quarter ended Sept. 30, amid a slowdown in economic growth in China and an ongoing regulatory crackdown on tech companies in the country. Alibaba now expects revenues to ...
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Yonex raises guidance as Q2 sales grow by 34%, driven by China
Yonex enjoyed a sales increase of 34 percent to 16.6 billion yen (€143.2m-$169.1m) in its second quarter, ended Sept. 30, leading the Japanese company to nearly double its net income to ¥2,396 million (€18.4m-$21.8m). The gross margin expanded by 3.5 percentage points to 46.7 percent. Sales grew in Japan by ...
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Article
Golf shines at Alpen and Xebio in Japan amid the pandemic
The recent measures taken by the Japanese government from July tthrough September to combat the Covid-19 pandemic, which shut down team and indoor sports and reduced store traffic, had an impact on the latest quarterly results of two major Japanese sports retailers. Golf was an exception, and winter sporting goods ...
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News briefs
Goldwin improves quarterly results
Goldwin has reported a 53 percent increase in net income to 1,397 million yen (€10.8m-$12.7m) for its second quarter ended Sept. 30 as its revenues for the period went up by 9 percent to 21.13 billion (€163.7m-$192.0m). In addition to its own brand, the Japanese group owns the distribution of ...
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Article
Softer home fitness demand drives Beachbody into a loss
In its first financial report since going public, The Beachbody Company said it suffered a 17 percent decline in revenues to $208.1 million for the third quarter ended Sept. 30 because of a drop of 5 percent in online revenues to $94.1 million and a 29 percent decrease in Nutrition ...
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News briefs
While rising strongly in the Americas and Europe, Globeride is flat in Japan
For its second quarter ended Sept. 30, Globeride, the Japanese parent of the Daiwa brand of golf and fishing products, reported a 28 percent increase in net income to 2,621 million yen (€20.1m-$23.8m) on 12 percent higher revenues of ¥31.69 billion (€240m-$288m). Sales were affected by Covid restrictions in Japan, ...
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ArticleFila's Q3 revenues inch up thanks to Acushnet, Europe is down
Fila Holdings saw group revenues in the third quarter ended Sept. 30 inch up by 1.1 percent to 927,065 million Korean won (€689.4m-$784.1m). However, the Fila brand’s revenues declined by 6.1 percent to KRW 321,194 million (€238.9m-$271.6m) without accounting for the previously reported strong contribution from Acushnet, the golf company ...
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ArticleOn sees growth slowing down from 68% in Q3
In its first quarterly report since its successful IPO in September, On Holding reported a sales increase of 67.6 percent to 218.0 million Swiss francs (€206.9m-$234.5m) in the third quarter ended Sept. 30, leading to a growth of 77 percent for the first nine months of 2021. The gross margin ...
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News briefs
Growth slows for Alibaba’s Singles’ Day
Alibaba has logged another record-breaking Singles’ Day, but the year-on-year growth of its sales in gross merchandise volume (GMV) is on the decline. This year’s 11.11 Global Shopping Festival, spread over 11 days, brought in about €74 billion in GMV, for an increase of 8.5 percent. This is the first ...
