Financial insights for the sporting goods industry – Page 51
-
Article
Margins improve at Foot Locker, while growth softens
Performing better than expected, Foot Locker generated net earnings of $430 million for the second quarter ended July 31, up from net income of $45 million in the same period of 2020 and $60 million in the corresponding quarter of 2019. The progress was partly due to extraordinary gains of ...
-
News briefs
El Corte Inglés recovers, cuts off suppliers
El Corte Inglés, which is a major factor in the Spanish sporting goods sector through its department stores, plans to cut down by almost one-half the number of its suppliers under a program that started three years ago, according to El Economista. Meanwhile, the group has been recovering strongly from ...
-
News briefs
Yonex’ sales nearly double
Yonex turned around to a net profit of 948 million yen (€7.4m-$8.7m) in its first quarter ended June 30 from a loss of ¥1,279 million in the year-ago period as its sales nearly doubled to ¥16,179 million (€126.0m-$147.9m). They almost tripled in Japan and expanded by 61 percent in the ...
-
News briefs
Sumitomo’s sports revenues more than double
Sales grew by 225 percent to ¥28.1 billion (€220m-$257m) during the second quarter ended June 30 for the sports division of Sumitomo Rubber, which includes the Dunlop, Srixon and XXIO brands of tennis and golf products. The higher revenues led the division to post a profit of ¥3,050 million (€23.7m-$27.9m) ...
-
News briefs
Globeride performs better than in 2019
Globeride, the Japanese company behind the Daiwa brand of fishing and golf products, saw a more than eightfold increase in its net income to 3,953 million yen (€30.8m-$36.1m) for its first fiscal quarter ended June 30, compared with ¥488 million last year, on a 62 percent jump in revenues to ...
-
News briefs
Spain’s Mundo Fitness posted record sales ahead of a merger
According to CMDsport, Mundo Fitness Europe posted record annual sales for 2020 of €12.78 million ahead of its merger with another company, exceeding the previous year’s sales by 138 percent. Net profits of €1,004,436 were up year-on-year by 2.5 percent. The Spanish-based retailer specializing in fitness equipment operates chiefly through ...
-
Article
Bogner closes 2020/21 financial year “well above plan”
Bogner suffered considerable losses in terms of sales during the financial year ended on March 31, but it made higher profits. Revenues of €122.5 million for the year fell short of the previous year’s level by almost 25 percent, due to the closure of retail stores because of Covid. On ...
-
Article
361 Degrees sees 15.7% H1 sales lift, looks further abroad
361 Degrees International saw first half revenues increase by 15.7 percent to 3,107 million yuan renminbi (€409.3m-$479.3m), and the Chinese sports company’s attributable net profit grew by 32.9 percent to RMB 401.4 million (€52.9m-$61.9m), thanks in part to lower impairment charges and lower interest following the repurchase of its last ...
-
ArticleRevolutionRace races ahead in first financial report post-listing
Fresh from a June listing on Nasdaq Stockholm, RevolutionRace, the Swedish DTC outdoor company, saw sales in the fourth quarter of its fiscal year surge by 152 percent to 273.7 million Swedish kronor (€26.8m-$31.3m), with double or triple-digit growth in all markets. The average order value (AOV) rose to SEK ...
-
Article
Sports & Leisure unit leads New Wave's Q2 sales higher
Sweden’s New Wave Group, which owns brands like Craft and Cutter & Back, saw total sales in the second quarter ended June 30 rise by 13 percent as compared to the year earlier to 1,487 million Swedish kronor (€145.7m-$171.1m), led by a 70 percent increase in its Sports & Leisure ...
-
Article
Fila benefits from improved licensing royalties and Acushnet’s success
Fila Holdings generated group revenues of 1,019,354 million Korean won (€739.4m-$866.2m) in the second quarter ended June 30, up by 63.1 percent on the year earlier, as the Korean-based company’s results continued to benefit from the contribution of its 51-percent owned Acushnet subsidiary and licensing royalties showed a clearly improving ...
-
ArticleLi Ning eyes the foreign market after Q1 sales rise by 65%
Li Ning Company saw revenues increase by 65 percent in the first half of 2021 to 10,197 million yuan renminbi (€1,335m-$1,574m) from the year earlier, when its results were heavily influenced by the Covid-19 pandemic. The Chinese sportswear company’s gross margin expanded by 6.4 percentage points to 53.9 percent and ...
-
Article
Yue Yuen raises sales and margins, shifting to higher-end products
Shifting to higher-end products, the world’s largest shoe manufacturer managed to raise the average selling price of the products made at its factories by 6.5 percent to $18.37 per pairs in the first half of 2021. This helped Yue Yuen Industrial (Holdings) to expand the gross margin of its footwear ...
-
Article
Asics strides forward, especially in Europe
Asics reported higher sales and operating income in several key regions for the second quarter of 2021. The progress was led by Europe, where revenues increased by 56 percent in Japanese yen, followed by increases of 51 percent in North America as well as Greater China as compared to the ...
-
Article
Goldwin confirms outlook as Q1 sales grow 40%
Goldwin reported revenues of ¥17,078 million (€131.8m-$154.7m) in the first quarter of its financial year, up by 40.0 percent on the year earlier, and confirmed its outlook for 10.5 percent sales growth for the full year. For the three months ended June 30, the Japanese company also reported an operating ...
-
News briefs
Digital drives loss-making Beachbody
In its first financial release since it went public, The Beachbody Company reported revenues of $223.1 million for the second quarter that were just 2 percent higher than in the year-ago period, but 21 percent higher than in the corresponding period of 2019. As compared to a year ago, digital ...
-
Article
Descente lifts profit outlook as sales, profits rebound in Q1
Descente raised its guidance for full year profits and maintained its outlook for sales after staging a strong recovery in the top and bottom lines in the first quarter ended June 30. As sporting events resumed, the Japanese sportswear company’s sales increased in the quarter by 44.5 percent to ¥22,481 ...
-
ArticleCanada Goose sees sales double in Q1
Canada Goose said it is on track to meet its target for 2022 revenues of over 1 billion Canadian dollars (€681.0m-$799.1m), as its sales doubled in the fiscal first quarter ended June 30 to C$56.3 million (€38.3m-$45.0m) from $26.1 million the year earlier amid significant growth in all geographic regions. ...
-
News briefsHelly Hansen and Musto grew by 46% in Q2
Canadian Tire Corporation reported a 45.9 percent increase in external revenues for Helly Hansen and Musto to 100 million Canadian dollars (€68.5m-$80.3m) for the second quarter ended July 3. Outside Canada, the revenues from the two brands amounted to C$95.1 million (€64.7m-$76m), up from C$64.7 million in the comparable period ...
-
ArticleSlinger Bag raises new funding to become a major connected sports firm
Slinger Bag, the recently founded supplier of portable tennis ball launchers, reports an oversubscribed round of financing through a private placement of $11 million, giving it a valuation of around $220 million. The new fudning is intended to support its vision to become “a leading connected sports company” with key ...
