Financial insights for the sporting goods industry – Page 47

  • On Running
    Article

    On sees growth slowing down from 68% in Q3

    2021-11-16T17:57:00Z

    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 ...

  • News briefs

    Growth slows for Alibaba’s Singles’ Day

    2021-11-12T18:10:00Z

    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 ...

  • Yue Yuen
    Article

    Yue Yuen’s growth stopped in Q3

    2021-11-12T18:08:00Z

    The disruption of the supply chain and the geopolitical situation in China have seriously started to affect Yue Yuen in both of its business segments. Its latest financial update for the month of October showed a year-on-year sales decrease of 21 percent, including drops of 18 percent in manufacturing and ...

  • News briefs

    Big gains at Dunlop Sports

    2021-11-11T17:57:00Z

    Sumitomo Rubber’s sports business continued to improve in the third quarter, generating a 58 percent boost in operating income to 1,646 million yen (€12.6m-$15.0m) on 24 percent higher revenues of ¥24.7 billion (€188.7m-$224.0m). Dunlop Sports’ sales of golf equipment went up in all major markets, driven by higher participation numbers, ...

  • Article

    Wolverine breaks even as Q3 sales are clipped by supply chain issues

    2021-11-11T17:19:00Z

    Wolverine Worldwide saw revenues in the third quarter rise by 29.1 percent to $636.7 million compared with the prior year, boosted by incremental revenues of $39.1 million from the recent acquisition of Sweaty Betty, which saw pro forma sales growth of over 50 percent in the quarter, and the strong ...

  • Article

    Mizuno license helps lift Vulcabras’ sales

    2021-11-11T17:10:00Z

    A relaxation of anti-Covid measures in Brazil and the addition of Mizuno’s license for the country, which was effectively transferred from Alpargatas to Vulcabras on June 30, helped to boost the latter’s revenues by 40.0 percent to a record 535.9 million Brazilian reais (€86.5m-$99.1m) in the third quarter as compared ...

  • Article

    Golf and running lift Mizuno

    2021-11-11T16:25:00Z

    Strong sales of golf and running products, especially in the Americas and EMEA, helped Mizuno to boost its total revenues for the second quarter and the first half ended Sept. 30, despite a drop in its home market of Japan during the latest few months. The company’s revenues went up ...

  • Article

    New Balance projects 30% growth

    2021-11-11T16:25:00Z

    New Balance is projecting a 30 percent increase in its sales to $4.5 billion in 2021, with growth of at least 25 percent in each geography. That would compare with revenues of $4 billion in 2019 and $3.4 billion in 2020. Addressing a conference by the U.S. Sports & Fitness ...

  • Adidas_Logo.svgz
    Article

    Adidas strikes a cautious note after a 3.4% sales hike in Q3

    2021-11-10T18:07:00Z

    Adidas toned down its expectations for full-year sales and earnings as the company’s growth slowed in the third quarter due to supply chain disruptions, Covid-related lockdowns in Asia-Pacific and a “challenging” market environment in Greater China. In the quarter, Adidas saw its sales edge up by just 3.4 percent to ...

  • Article

    Logistics problems lead Nautilus into a loss

    2021-11-10T16:37:00Z

    Like with Peloton, but on a smaller scale, a partial shift in fitness activities from the home to the gym had an impact on the revenues of Nautilus for its second quarter, ended Sept. 30. Combined with shipping problems, which caused a shortage of $22 million in products that should ...

  • Article

    Alpargatas sells Osklen to Dass to develop Havaianas more widely

    2021-11-10T16:09:00Z

    Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...

  • Article

    Callaway Golf raises guidance as all segments outperform

    2021-11-10T15:37:00Z

    Callaway Golf raised its guidance for the full year once again, after revenues in the third quarter increased by 80.1 percent as compared to the year earlier to $856.5 million, continuing to benefit from the addition in March of Topgolf and a better-than-expected contribution to its top line from golf ...

  • News briefs

    Supply chain issues dampen Brooks’ growth

    2021-11-09T17:44:00Z

    The global growth of Brooks Running softened to an annual clip of 24 percent in the third quarter, as pandemic-related supply chain problems began to affect its ability to meet consumer demand, reducing its sales in September. It had grown faster in the first half, as its total sales for ...

  • Article

    Black Diamond’s 20% gains helps Clarus to book higher Q3 sales

    2021-11-09T17:42:00Z

    Clarus Corp. reported a jump in net earnings on an adjusted basis of 97 percent to $4.53 million in the third quarter ended Sept. 30, as sales grew by 69 percent to a record $109.0 million, with a 67 percent gain in constant currencies. On a pro forma basis, including ...

  • Giant Group Logo
    Article

    Shortages reduced Giant’s growth to 2.5% in Q3

    2021-11-08T18:50:00Z

    With strong ongoing global demand for bicycles and e-bikes, Giant Manufacturing reported that its production facilities are fully loaded with orders. However, a lack of components affected the production in the third quarter, leading to an increase in consolidated sales of only 2.5 percent to 19.95 billion Taiwan dollars (€619.0m-$715.0m) ...

  • Article

    Despite the fifth Covid wave in Japan, Descente grew in Q2

    2021-11-08T18:20:00Z

    Descente reported a rise in second-quarter sales of 16.4 percent to 49,926 million yen (€381m-$440m) despite a “challenging” period from late August to September when the fifth wave of Covid-19 hit Japan. All of the company’s main five brands for which it has the rights in Japan or other territories ...

  • News briefs

    Some more details on Asics’ Q3 results

    2021-11-08T16:12:00Z

    For the third quarter, Asics reported in its financial highlights a net profit of 6,723 million yen (€51.3m-$59.3m), up sharply from ¥2,858 million a year earlier. However, sales increased by only 11.2 percent to ¥112.7 billion yen (€860m-$990m) from 101.3 billion as compared to the same period of 2020, and ...

  • Article

    Canada Goose improves its guidance, citing momentum

    2021-11-05T18:51:00Z

    Canada Goose reported an improved gross margin and a lower operating margin on a 19.6 percent increase in revenues to 232.9 million Canadian dollars (€161.9m-$187.1m) for its second quarter ended Sept. 26. Excluding the exceptional revenues from personal protective equipment recorded in the same period a year ago, comparable sales ...

  • Asics-logo
    Article

    Asics’ growth softened in Q3

    2021-11-05T18:36:00Z

    Asics recorded solid growth in sales and operating income in the nine months ending September 30, as the strong showing of its Performance Running business in North America, Europe and Greater China and cost-cutting efforts more than offset the continuing effects of Covid-19. For the third quarter alone, Asics reported ...

  • Article

    Peloton cuts its sales guidance by $1 bn

    2021-11-05T18:36:00Z

    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 ...