Financial insights for the sporting goods industry – Page 63
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Article
Fast ride for Ridestore
Ridestore, an online retailer of private label snowear for extreme sports founded in Sweden just over ten years ago, has reported excellent financial results for the second year in a row, attributing the growth mainly to its successful expansion to other parts of Europe and North America. For the financial ...
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ArticleLe Coq Sportif intensifies focus on ‘Made in France’ products after posting a loss
Airesis, the Swiss holding company of Le Coq Sportif and Movement Skis, widened its net loss for the first six months of 2020 to 18.5 million Swiss francs (€17.2m-$20.4m), compared with a loss of CHF 1.9 million in the prior-year period. Consolidated revenues tumbled by 52.7 percent to CHF 32.2 ...
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Article
Action in and around the Danish sports retail market
Russia’s leading sporting goods retailer, the Sportmaster Group, had no immediate comment on a report in the Danish press that it intends to develop the Sportmaster banner all over Europe, after turning around the Danish retail operation by the same name, which it bought at the end of last year, ...
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ArticleApex’ losses widen while it seeks strategic alternatives
Impairment charges of close to $10 million, mostly related to the impact of the Covid-19 pandemic; weighed on the profits of Apex Global Brands, previously called Cherokee Global Brands. The net loss for the parent company of Hi-Tec, Magnum,Tony Hawk and other brands expanded by 5 percent to $1.3 million ...
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Article
Peloton posts its first profit
Boosted by the home fitness trend spurred by the coronavirus pandemic, Peloton Interactive, the American online-driven supplier of stationary bikes and treadmills founded in 2012, recorded its first profit in the fourth quarter of its latest financial year, ended on June 30, as its revenues jumped by 172 percent to ...
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News briefsCrocs sees Q3 sales up by 10%
Crocs expects its third-quarter revenues to rise by about 10 percent as compared to $312.8 million in the third quarter of 2019, thanks to ”exceptional consumer demand and strong sell throughs,” said Andrew Rees, president and chief executive. The U.S. government’s stimulus package fueled demand for its products over the ...
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ArticleZumiez’ profits surge by triple digits
Zumiez, the American action sports retailer that owns Blue Tomato in Europe and Fast Times in Australia, bounced back in the second fiscal quarter ended on Aug.1, after a difficult start of the year due to retail lockdowns. Its net income soared by 181 percent to $25.4 million, on revenues ...
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ArticleSports products outperform shoes and leathergoods at ANWR
In the first seven months of this year, the total business volume of the ANWR Group went up by 53 percent to €10.2 billion, driven by a 76 percent increase to €8.6 billion in financial services, but the buying groups of ANWR suffered a 10.7 percent decrease in their own ...
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ArticleTechnogym prioritizes DTC and home fitness
The big Italian-based fitness equipment supplier is shifting its focus from the gyms to the consumer after booking a 50 percent sales increase in its relatively small Home & Consumer segment for the first half of this year, as more and more people performed their workouts at home rather than ...
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Article
Lululemon sells more than it had projected
Thanks to strong gains in e-commerce, and despite disruptions in stores because of the Covid-19 pandemic, Lululemon Athletica managed to grow revenues by 2 percent to $902.9 million in the second quarter ended on Aug. 2, with a growth of 3 percent in constant currencies. Direct-to-consumer net revenues represented 61.4 ...
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ArticleJD reinstates guidance as H1 sales were better than expected
Instead of continuing to withhold its financial guidance like many other companies, JD Sports Fashion is now forecasting annual pre-tax profits of at least £265 million (€293.0m-$345.8m) for the current firscal year, while releasing better-than-expected sales figures for the 26 weeks ended on Aug. 1, despite the coronavirus pandemic. This ...
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Article
New management for Kesko’s resilient sports unit
Sami Kiiski, a 44-year-old manager who left as chief executive of Halti at the end of July after turning the company around, has taken the leadership of Kesko’s Leisure Trade division, which includes Intersport Finland, the major player in the Finnish sporting goods market. One of his tasks will be ...
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ArticleSteep sales declines at two Chinese shoemakers
Stella International posted a net loss of $9.3 million for the first half of this year, against net income of $39.2 million in the year-ago period, on revenues that dropped by 32 percent to $511.5 million. The gross margin fell by 1.4 percentage points to 16.6 percent, due to cancelled ...
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Article
Xtep’s new acquisitions boost turnover, but profits drop
Last year’s acquisition of K-Swiss and its various footwear labels, including Palladium and Supra, helped Xtep International Holdings of China to show good revenues for the first half of this year. A smaller contribution came from the company’s new joint venture with Wolverine Worldwide, from the Merrell and Saucony brands. ...
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ArticleViralOff helps Polygiene to thrive during pandemic
Polygiene is at the center of media attention since it launched ViralOff, a fabric treatment with antiviral properties, in April. In the context of Covid-19 outbreak, demand for the garment has soared, and the group expanded its scope from initially treating protective clothing, face masks and other hospital products to ...
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ArticleAnta Sports switches to DTC in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
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News briefs
Cycling boom benefits Giant
The Giant Group posted revenues of $33 billion Taiwan dollars (€1.0bn-$1.1bn) for the first six months of this year, representing a 7.5 percent increase as compared to the first half of 2019. Sales were boosted by increased global demand for bicycles following the coronavirus lockdown period, as many consumers have ...
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ArticleGlobe faces pressure from strong U.S. dollar
U.S. tariffs introduced early in the year and the strengthening U.S. dollar weighed on the results of the multi-brand skate company, Globe International, during its latest fiscal year. Net profit after tax for the twelve months ended June 30 declined by 26 percent to 6.1 million Australian dollars (€3.7m-$4.4m). This ...
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ArticleFrasers Group survives an annus horribilis
The management of Frasers Group, formerly known as Sports Direct International, said the past year will likely be remembered as the most challenging year in the history of the company. It cited political uncertainty around Brexit, the Covid-19 crisis and a Belgian tax investigation for an amount of €674 million. ...
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ArticleNew strategies make Li Ning resilient
Li Ning fared better than most of its Chinese peers during the first half. While its net income declined by 14 percent from the year-ago period to 683.3 million yuan renminbi (€82.8m-$98.7m) in reported terms, its adjusted net income progressed by 22 percent when excluding a RMB 269.9 million (€32.7m-$39.0m) ...
