Financial insights for the sporting goods industry – Page 51
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ArticleColumbia lifts guidance after strong Q2, but CEO attacks freight “monopoly”
Columbia Sportswear swung to a second-quarter profit and raised its full-year 2021 forecasts but warned that “escalating” ocean-freight prices and ongoing port congestions were dragging on the annual outlook. The outdoor gear producer reported net income of $40.6 million for the three months to June 30, compared with a loss ...
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ArticleCoDi sees “explosive” growth at Boa Technology
Compass Diversified (CoDi) highlighted the “explosive” growth of the recently acquired Boa Technology in its second quarter ended June 30, cautioning that the brand’s expansion is likely to slow in the second half of the year. Boa, which owns the Boa Fit System for shoe fastening, was acquired by CoDi ...
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ArticleVF raises FY guidance as Q1 sales and profits beat estimates
VF Corp lifted its annual guidance after posting better-than-expected earnings and sales in its first quarter ended June 30 as retail demand for the company’s top brands continued to recover from the impact of the Covid-19 pandemic. Revenues for the three months more than doubled to $2,194 million, compared with ...
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ArticlePuma prioritizes the wholesale channel
As already indicated in a previous profit warning, Puma ended the second quarter of its current fiscal year with a significant increase in sales. Revenue growth was particularly strong in North America, where the brand is gaining shelf space at some wholesale accounts where Nike and other competitors are pulling ...
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ArticleWolverine raises FY outlook again after strong Q2
Wolverine Worldwide raised its guidance for the full year for the second time after achieving strong results in the second quarter ended July 3, led by the record quarterly sales performance by its two largest brands, Merrell and Saucony, on which the group has been investing more than on the ...
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ArticleBasicNet posts double-digit sales increases in H1, approves multi-voting rights for longterm shareholders
BasicNet, the parent company of Kappa, Superga, Sebago, K-Way, Briko and other brands, has reported aggregated wholesale-equivalent sales of group products of €443 million in the first half of 2021, representing a 20.5 percent increase as compared to the same period last year. The figure includes commercial licensees’ sales of ...
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ArticleHoka drives Deckers’ growth in Q1, overtaking Ugg
Deckers Brands reported a first-quarter revenue increase of 78.2 percent to $504.7 million, leading to net earnings of $51.5 million against a loss of $6.9 million for the same period of last year. The company has raised its outlook and now expects net earnings of around $415 million for the ...
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News briefsS&P rates Decathlon A-2
S&P gave Decathlon a short-term issuer rating of A-2 because the French retailer’s performance exceeded the rating agency’s 2020 expectations. S&P was also pleased with the apparent recovery in the Decathlon’s chief markets, thanks to relaxed lockdowns, and with management’s preservation of cash and protection of credit metrics. Decathlon’s sales ...
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ArticleGarmin posts strong growth in all segments and regions in Q2
Garmin reported total revenues of $1.33 billion for the 13-week period ended June 26, which represents a 53 percent increase over the same quarter in 2020, with to double-digit growth in all segments. Net income of $317 million more than doubled from $184 million in the second quarter of 2020. ...
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ArticleBike business treats Shimano to an excellent first half of its 100th anniversary year
Further Covid-related temporary plant and port closures on the one hand, and unabated high demand for bicycle products and fishing tackle on the other, gave Japan-based supplier Shimano Inc. a hard time in the first half of 2021. However, unlike in the first half of 2020 (when the supplier had ...
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ArticleSuccessful first half year for Moncler, brand accelerates in Q2
Moncler Group reported consolidated revenues of €621.8 million for the first half ended June 30, compared to €403.3 million in the first half of 2020. Growth was 57 percent at constant exchange rates and 54 percent at current exchange rates. From April 1, 2021, the group’s financial report also consolidates ...
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ArticleParts shortages put on the brakes at Accell
A growing market for bike parts and accessories helped Accell Group to raise net sales for the six months to June 30 by 3.3 percent to €699.1 million, despite a drop in sales of finished bicycles due to supply and logistics problems. Order books for electric bikes remained strong, but ...
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ArticleCrocs raises guidance as Q2 revenues stride ahead
Crocs reported better-than-expected second-quarter sales and raised its full-year guidance on the back of strong global demand for its products, despite supply chain disruptions caused by the Covid-19 pandemic. Easily beating an analyst consensus forecast of $565.2 million, the company posted record revenues of $640.8 million for the three months ...
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ArticleSkechers’ sales rise by 127.3%, driven by comfort trends
Skechers reported a 127.3 perrcent increase in revenues to a record level of $1.66 billion for the second quarter ended June 30, with a growth of 117.5 percent in local currencies and of 31.7 percent from the second quarter of 2019. Improving its guidance for the full financial year, the ...
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News briefs
BH Fitness saw its revenues increase by nearly 70% during the pandemic
BH Fitness said its turnover jumped by 69.7 percent in 2020 as compared to 2019. The positive performance achieved by the Spanish fitness equipment company during the Covid-19 pandemic followed four consecutive years of decline. The closure of its subsidiaries in the U.S., China and Taiwan allowed BH to reduce ...
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News briefsAsos warns of volatility ahead while global sales rise
Asos, the British online fashion retailer, warned of volatility in the months ahead, due to the rapidly evolving Covid situation worldwide, as it reported a rise in sales and maintained its guidance for annual profits. It pointed out that profits were being squeezed by increased freight costs and global supply ...
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Article
StockX reaches new milestones, thanks to diversification
In a mid-year Snapshot of its “Culture Index,” which was first launched last year, StockX reported a 90 percent increase in the gross merchandise value (GMV) going through its marketplace in the first half of 2021, led by a growth of 250 percent from “emerging categories” such as gaming consoles, ...
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Article
More Chinese firms guide for better results
Xtep International is guiding for an increase of at least 65 percent in net income for the first half of 2021, thanks to better-than-expected revenues and higher gross margins. The company, which has also a joint venture with Wolverine Worldwide for China, had reported a profit of 247.9 million yuan ...
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Article
Recreational trends benefit Thule
Continuing its strong growth trend for the fourth quarter in a row, the Swedish-based Thule Group reported improved results for the second quarter ended June 30. Net sales went up by 58.1 percent to 3,229 million Swedish kronor (€315.5m-$371.4m) as compared to the same period a year ago, when major ...
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Article
Stella’s Q2 sales rise by 58.1%
The revenues of Stella International, the Chinese footwear group based in Hong Kong, rose by 58.1 percent to $392.1 million in the second quarter of 2021 from $248.0 million a year earlier, when the company’s sales were negatively impacted by the outbreak of the Covid-19 pandemic. The top line, however, ...
