Financial insights for the sporting goods industry – Page 46
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Article
Peloton cuts its sales guidance by $1 bn
Peloton Interactive lost more than one-fourth of its value on the stock exchange as the company slashed its sales guidance for the full financial year by up to $1 billion, predicting that revenues will range from $4.4 billion to $4.8 billion. Analysts were budgeting sales of $5.4 billion for the ...
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Article
Sports & Leisure pull New Wave forward
The Swedish-based New Wave Group, which owns or distributes brands such as Craft, Cutter & Buck, Ahead, Orrefors and Speedo, reported record third-quarter profits as sales closed in on pre-pandemic levels, driven by a recovery in the Nordic countries and the U.S. The group’s Sports & Leisure division saw sales ...
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News briefsDorel Sports' Q3 revenues slip as supply-chain constraints bite
Dorel Industries said third-quarter revenue at its Dorel Sports segment fell slightly on supply-chain disruption and parts shortages, leading it to lower fourth-quarter expectations for the group as a whole. The company, which last month agreed to sell Dorel Sports to Pon Group for $810 million, said the segment’s revenues ...
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ArticleGoPro's Christmas sales won’t be hit by supply crisis after a good quarter
Indicating that it does not expect Christmas sales to be hit by supply-chain constraints, GoPro reported better-than-expected third-quarter results. The company posted a net profit of $311.8 million for the period, up from $3.3 million a year ago. Revenues grew by 13 percent to $317 million against GoPro’s own estimates ...
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ArticleAcushnet raises forecasts for 2021
Acushnet Holdings Corp, the U.S.-based group behind the golf brands Titleist, FootJoy and Pinnacle and the Swiss sports apparel brand Kjus, reported an 8.0 percent increase in consolidated sales to $521.6 million in the third quarter ended Sept. 30, scoring better than what analysts had expected. On a constant-currency basis, ...
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ArticleChampion grew strongly in Q3
Hanesbrands reported increases in its global sales of Champion products of 20 percent in absolute terms and 33 percent excluding discontinued operations such as the C9 mass market program in the U.S., during the third quarter ended Oct. 2, with balanced performances between the U.S. and the rest of the ...
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ArticleZalando’s Q3 profits slump in price-cutting war, but guidance is upgraded
Zalando reported a slump in third-quarter profits after cutting prices in response to promotions made at physical stores after Covid lockdowns were completely lifted in Germany and other key markets. While sales rose by 23 percent to €2.3 billion as compared to a year ago, adjusted operating earnings (Ebit) for ...
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ArticleUA upgrades guidance after a good Q3
Under Armour upgraded its guidance while posting better-than-expected results for the third quarter ended Sept. 30, leading to a jump of more than 18 percent in its stock price, close to its 52-week record of $26.45. The company’s net earnings soared to $113.4 million, more than twice the analysts’ consensus ...
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ArticleSkechers sees 19% sales gain in Q3, but supply chain woes will stretch into 2022
Skechers saw revenues in the third quarter ended Sept. 30 rise by 19.2 percent to a record $1,551 million, an achievement that the company described as “remarkable” amid supply chain bottlenecks that have constrained sales growth and are seen extending into 2022. At constant currency rates, sales rose by 17.1 ...
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ArticleDeckers’ Q2 sales grow by 16% on Hoka's gains, but margins are squeezed
Deckers Brands saw revenues increase by 15.8 percent to $721.9 million in its second quarter ended Sept. 30, led by the continued strong performance of its Hoka brand, but delays in deliveries capped top line growth at Ugg. On a constant-currency basis, revenues increased by 14.8 percent, but net earnings ...
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ArticleBasicNet reports improved results
BasicNet said its Ebitda for the third quarter ended Sept. 30 was 23.7 percent higher than in the same period of a year ago and 6.3 percent higher than in the third quarter of 2019. Without providing a quarterly breakdown for other key indicators, the Italian-based parent company of Kappa, ...
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ArticleMoncler accelerated in Q3
The Moncler Group’s revenues grew by 55 percent on a currency-neutral basis to €555.5 million in the third quarter, including €100.1 million in incremental sales from the recently acquired Stone Island brand, whose results were consolidated as of April 1. Accelerating from the first half, the core Moncler brand saw ...
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News briefs
Intersport matched 2019 levels in the first nine months of 2021
Steve Evers, CEO of Intersport International Corp., tells us that the international retail network of Intersport returned to the 2019 level of €8.5 billion (including VAT) in the first nine months of 2021. The retail sales of the affiliated stores went up by 12.6 percent in the third quarter as ...
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ArticleAfter a Q3 sales miss, Columbia lowers FY sales outlook, raises profit forecast
Columbia Sportswear has lowered its sales outlook for the year but raised its profit forecast, despite weaker-than-expected third-quarter revenues due to supply-chain constraints. The group’s quarterly sales rose by 15 percent to $804.7 million, against forecasts of $862 million. Beating expectations, net income jumped by 60 percent to $100.6 million ...
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News briefs
Garmin performed better in fitness than outdoor in Q3
The fitness segment outperformed the outdoor segment in Garmin’s third quarter, ended on Sept. 25, but the company is still predicting 17 percent growth in both segments for the full financial year. Outdoor segment revenues fell by 3 percent to $323.8 million, due primarily to the timing of new product ...
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Article
Bike delivery problems sink XXL’s results
Delays in deliveries of bicycles continued to negatively affect the sales performance of XXL ASA, whose revenues in the third quarter declined by 4.8 percent to 2,688 million Norwegian kroner (€276.1m-$321.2), with a drop of 4.0 percent on a comparable store basis. As its profit margins were also squeezed, resulting ...
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Article
Puma’s brand momentum outpaces supply chain drags in Q3
Puma raised its outlook for full-year sales after reporting solid growth in sales and earnings in the third quarter ended Sept. 30 despite persistent supply chain headwinds and difficulties for Western brands in China. Sales in the three month period increased by a reported 20.0 percent to a quarterly record ...
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News briefs
Spain's Munich is on track for a record year
Munich, a leading Spanish shoe producer in the futsal category, is on track to break its record for annual sales, Diffusion Sport reports. Sales for the first half of this year, ended on Sept. 30, matched those of the equivalent period in its current record year of 2018. The owner ...
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Article
Shimano hikes guidance as bike segment soars by 30%
While reporting excellent figures for its third quarter ended Sept. 30, Shimano said it was expanding production capacity at its factories in Japan and overseas to respond to the growing global demand for its products, as Covid outbreaks have disrupted both manufacturing and logistics everywhere. Bike dealers’ inventories are still ...
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News briefs
Li Ning accelerated in Q3
Excluding sales at Li Ning Young stores, Li Ning performed better than a year ago during the third quarter ended in September, scoring a sales increase in the high 20s on a same-store basis at retail, compared with the low single-digit improvement recorded a year earlier. The company’s own direct-to-consumer ...
