Financial insights for the sporting goods industry – Page 60
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News briefs
Yonex declines in Europe and the U.S.
Yonex, the Japanese brand of racquet and golf products, saw its revenues decline by 19 percent to ¥13,893 million (€111.8m-$130.9m) in the second fiscal quarter ended Sept. 30. Europe fell by 57 percent to ¥234 million (€1.9m-$2.2m), as many sports facilities remained closed over the pandemic. Badminton sales declined across ...
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Article
Tradeinn thrives, partners with Klarna
Tradeinn has signed a deal with Klarna – the online payment platform founded in Sweden and now headquartered in Ohio – to offer an installment plan (in three payments) to customers who wish to make big purchases on its websites. To promote its sales further, Tradeinn will be offering a ...
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Article
Expanded: Foot Locker books 7.7% higher same-store sales in Q3
Foot Locker reported an increase in same-store sales of 7.7 percent for the third quarter, ended Oct. 31. In absolute terms, the company’s revenues grew by 9.0 percent to $2,016 million, with a 7.7 percent rise in local currencies, beating analysts’ estimates. Digital sales jumped by 52 percent, representing 21.4 ...
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ArticleGoldwin’s sales and profits dwindle
Goldwin’s revenues dropped by 16 percent to ¥19,358 million (€157.4m-$182.5m) in the second quarter ended Sept. 30, and the Japanese sports apparel company’s net income tumbled by 59 percent from the year-ago period to ¥915 million (€7.4m-$8.6m). The gross margin fell by 1.4 percentage points to 50.6 percent. Golwin spoke ...
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Article
Sumitomo raises guidance for its sports division
Sumitomo Rubber Industries’ sports division bounced back from a poor second quarter, posting an operating profit of ¥1,041 million (€8.4m-$9.9m) in the third quarter, against a loss of ¥519 million (€4.2m-$4.9m) in the year-ago period. Sales in the sports division, which includes brands such as Srixon, XXIO, St. James and ...
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Article
Vulcabras achieves good revenues for the third quarter
After production restrictions in the spring and early summer due to the pandemic, Vulcabras resumed full operations at its factories in July, capitalizing on a robust order backlog. It managed to generate a significant sales increase year-on-year. The parent company of Olympikus, which is also the Brazilian licensee for Under ...
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Article
Fila fell by 7% in Q3 without Acushnet
The Fila Group is bouncing back after ending in the red in the second quarter, thanks to stronger demand for golf products. Its revenues rose by 5.8 percent to 917,431 million Korean won (€698.6m-$772.5m) in the third quarter. Excluding revenues from the recently-acquired Acushnet, revenues from the Fila brand went ...
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Article
Losses continue for Yue Yuen
Despite China’s resilience against the pandemic in the third quarter, Yue Yen Industrial Holdings remained in the red, following two quarters of losses. The company was strongly impacted by government measures to contain the spread of the disease at the start of the year, and although the Pou Sheng Chinese ...
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News briefs
Alibaba enjoys record Singles Day, but its market cap drops
This year’s Singles Day raked in a gross merchandise volume (GMV) of 498.2 billion yuan (€63.67bn-$75.19bn) for Alibaba up sharply from the RMB 268.4 billion reported a year ago. The rival Chinese e-tailer Jd.com had sales of about ¥271.5 billion (€34.71bn-$40.99bn). Lasting 11 days this year, Alibaba’s Chinese sales festival ...
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Article
Accell Group raises guidance as sales surge
In an operational update, Accell Group said that it is raising its guidance after sales from July to October jumped by 38 percent from the year-ago period because of the post-Covid boom in the bicycle sector. Since January, the Dutch company’s revenues have progressed by 16 percent. The operating profit ...
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Article
Giant Group’s sales are boosted by Covid-19 situation
The Giant Group saw its revenues increased by 14.6 percent to 19.47 billion Taiwan dollars (€578.1m-$682.8m) in the third quarter. The growth was primarily driven by the surge in the demand for bicycles and e-bikes in key markets due to the pandemic, with consumers increasingly using bikes for health and ...
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Article
Descente in the red for H1 and the black in Q2
Descente ended the first half of its financial year on Sept. 30 with a net loss of 1,265 million yen (€10.2m-$12.0m), against a profit of ¥2,210 million for the year-ago period, as the economic impact of the pandemic hit its revenues. They declined by 34.9 percent to ¥42,897 million (€345.1m-$407.0m). ...
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Article
Vista Outdoor’s shares soar on good results and upbeat guidance
Vista Outdoor, which includes brands such as Bell, Giro, Camelbak, Camp Chef and Bushnell Golf, saw its stock rise by 8 percent after posting strong results for the second fiscal quarter ended Sep. 27. It also released a positive outlook for the current quarter. Sales surged by 29 percent to ...
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ArticleBullish about Black Diamond, Clarus withdraws bond offer
Clarus Corp. reported third-quarter sales for Black Diamond (BD) that bounced back from the second quarter, but they were still down by 8 percent compared with the third quarter of 2019. Still, the management said it remains upbeat and expects continued recovery into the fourth quarter. Overall, the parent company ...
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ArticleDigitalization helps Adidas to recover
The Adidas Group made a strong recovery in the third quarter, approaching a normalization of its business, thanks largely to a 51 percent boost in e-commerce, coupled with a more a selective distribution policy. Mentioning its close relations with JD Sports Fashion and Zalando as examples, down to inventory sharing, ...
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Article
Nautilus reaches record profits thanks to home fitness
As numerous gyms temporarily closed due to Covid-19, Nautilus experienced strong year-over-year sales increases in the third quarter with customers shifting to home equipment. New customer acquisition was up seven times during the quarter, leading the demand for many of the company’s home fitness products to continue to outpace the ...
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Article
Acushnet’s profits double
The American golf company controlled by Fila Korea bounced back in the third quarter, with profits more than doubling compared with the year-ago quarter. Acushnet also witnessed a recovery in sales after lockdowns eased and demand for golf products picked up again as players returned to the golf courses. Following ...
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Article
Dorel Sports posts a 22% sales increase and record earnings
Dorel Sports, whose brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse, saw its revenues increase year-on-year by 22.1 percent to $305.6 million in the third quarter, marking the sixth consecutive quarter of revenue growth for the segment. Excluding the impact of foreign exchange rates, quarterly revenues improved by around ...
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Article
Asics improves in Q3, but warns about second Covid wave
Asics reported better-than-expected third-quarter sales and revised upward its forecasts for the full year, but warned that fourth-quarter sales would take a hit from the second wave of the Covid-19 pandemic. Net sales rose by 4.39 percent to 103,309 million yen (€829m-$979m) in the third quarter as more people took ...
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Article
Mizuno's weak results softened in the latest quarter
The impact of restrictive measures to contain Covid-19 in Japan weighed on Mizuno’s results for the first half of its fiscal year ending on March 31, 2021. The Japanese group’s revenues declined by 22.5 percent from the year-ago period to 66.2 billion yen (€537.7m-$639.0m). The gross margin narrowed by 2.0 ...
