Financial insights for the sporting goods industry – Page 54
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Article
Puma’s sales nearly doubled in Q2
In advance of its financial release for the second quarter ended June 30, which is scheduled for July 29, Puma announced on July 16 that it will report an operating profit (Ebit) of about €109 million for the period, compared with a loss of €115 million a year earlier, on ...
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ArticleDanish Sportmaster fit for Nordic expansion
The Russian-based Sportmaster Group says that all the financial parameters were positive last year for the Danish sporting goods retail chain by the same name, which it took over in December 2019. Declining to provide any details about the subject, it also said that Sportmaster Denmark and its management team, ...
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ArticleBetter margins but lower sales and market shares for XXL
XXL ASA saw its revenues decline by 15.5 percent in the second quarter to 2,420 million Norwegian kroner €232.6m -$274.8m), as temporary store closures due to the Covid-19 pandemic and delays in the delivery of bicycles hit its top line. On a like-for-like basis, sales were down by 13.4 percent. ...
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ArticleAnta unveils 5-year strategic targets and a 24-month acceleration plan
While providing another update on its results for the second quarter, Anta Sports Products announced new strategic targets that it wants to achieve over the next five years and a 24-month acceleration plan, called “Lead to Win,” for its core Anta brand. It had nothing to say at this stage ...
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News briefs
Buff grows by 63%
Original Buff, the Spanish headwear and neckwear company, saw its revenues soar by 63 percent to €85 million during the financial year ended April 30, thanks to multiple reasons. It benefited from the increased popularity of outdoor activities during the Covid-19 pandemic, the launch of its anti-Covid face masks and ...
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Article
Publishing some figures, ABG files for its IPO
Confirming rumors that have circulated in the past few weeks, the rapidly expanding Authentic Brands Group (ABG) has filed for an initial public offering. It said it seeks to raise $100 million through an IPO on the New York Stock Exchange, but it did not indicate yet the timing, how ...
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News briefs
Kathmandu group issues a profit warning
The new Covid-related retail lockdowns in Australia have negatively affected the profitability of Kathmandu Holdings, whose assets include Rip Curl. Its guidance for the financial year ending July 31 has been reduced to underlying Ebitda of 120 million New Zealand dollars (€71.3m-$84.1m) on revenues of NZ$ 930 million (€552m-$651m), which ...
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Article
Intersport Austria emerges reinvigorated in H1
Intersport Austria had to report a drop in sales of almost ten percent for the first half of 2021, yet the cooperative is optimistic about the year as a whole, as long as trade and borders remain open. Despite long retail lockdowns and a largely lost ski season earlier this ...
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ArticleJD upgrades its forecast, reinstates the CEO role
Confirming a report that came out in The Sunday Times in May, which had been initially denied, Peter Cowgill, executive chairman and CEO of JD Sports Fashion, revealed a plan to divide his role before the next annual general meeting of the company one year from now, adding that “a ...
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News briefs
Li Ning sees sales rising by 60%
Li Ning Company said in a preliminary statement that its earnings will reach a level of at least 1.8 billion yuan renminbi (€233m-$279m) in the first half of this year, almost three times higher than the RMB 683.4 million reported for the first half of 2020, thanks to a jump ...
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ArticleNike beats expectations as EMEA, North America sales surge and China resists
The Nike group posted better-than-expected results for the fourth quarter ended on May 31, 2021, as sales nearly doubled as compared to a year earlier, when its performance was severely impacted by store closures tied to the Covid-19 pandemic. After the release of higher-than-expected results for the quarter, Nike’s share ...
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News briefs
Decathlon's sales fell by 10.7% in Spain in 2020
Decathlon’s sales in Spain fell last year by 10.7 percent to €1,526 million including VAT, due to Covid-related restrictions, but the online channel grew by 126 percent to represent 18 percent of the total turnover. The number of stores rose by two to a total of 174, but their sales ...
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Article
Updated: Nike performs much better than estimated
A few hours before the release of Nike’s results at 10:15 PM CET yesterday, 24 out of 30 financial analysts were recommending that its shares should be purchased, according to the Wall Street Journal, giving an average price target of $163.34 against a current stock market price of around $134 ...
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Article
Big profit on investments lifts China Dongxiang’s results
A 269 percent gain in investment income boosted operating and net earnings at China Dongxiang for the financial year ended March 31. While its revenues went up by 27.8 percent to 1,970 million yuan remimbi (€255.0m-$304.5m), the Chinese sportswear company’s net income showed a fourfold increase to RMB 1,811 million ...
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News briefs
Higher broadcasting revenues limit ManU’s sales decline
The net loss of Manchester United narrowed by 20.6 percent to £18.1 million (€21.1m-$25.2m) in the third quarter ended March 31, in spite of a drop of 4.4 percent in overall revenues to £118.3 million (€138.0m-$164.5m). Adjusted Ebitda declined by 48.4 percent to £14.4 million (€16.8m-$20.0m), however. As all the ...
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Article
Amer will contribute to double Anta’s H1 net profit
Amer Sports’ profitability is apparently improving faster than that of the rest of the Anta Sports Group. In a profit warning, Anta, which heads up the joint venture that took over the group two years ago, says it expects a decline in the losses of a joint venture, which we ...
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News briefs
Hummel foresees a rebound after a poor year
Because of its extensive exposure to grassroots and team sports, which were closed by the Covid pandemic, Hummel has reported poor results for 2020. The Danish company’s sales declined to DKK 1,347 million (€181.1m-$219.4m) last year, despite the opening of new foreign subsidiaries in 2019 and the takeover of Halo ...
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News briefs
Sport-Tiedje grew by 55% last year, thanks to e-commerce
The German-based Sport-Tiedje Group, which claims to be still Europe’s largest retailer for home fitness products, has reported a 55 percent sales increase to €203 million for last year, with growth in all European countries, as higher online revenues compensated for the partial closure of its 65 stores in the ...
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News briefs
Goldwin sets new financial and sustainability goals
Goldwin has laid out a plan to reach an annual turnover of 125 billion yen (€940m-$1.15bn) by the financial year ending in March 2026, up from 100 billion this year, while transitioning to 100 percent recycled and biosynthetic materials. The Japanese company, which markets 18 different brands in its home ...
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News briefs
Online sales account for 17.3% of El Corte Inglès’ retail sales
El Corte Inglés, the leading Spanish department store chain, is a major factor in the country’s sporting goods market. The company reported a 19 percent decline to €10.52 billion in revenues from its retail business in the 2020 financial year, due to the Covid-19 pandemic. The drop would have been ...
