Financial insights for the sporting goods industry – Page 63
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Article
GoPro swings to a profit
The American action camera specialist managed to post a profit for the third quarter thanks to a more intense direct-to-consumer (DTC) approach and strong sales of new products, which helped boost total revenues by 114 percent to $280.51 million. Analysts expected revenues of $234.5 million. GoPro’s net income for the ...
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Article
New Wave focuses on costs savings
The New Wave Group, the Swedish company behind Craft and Cutter & Buck, said actions to prioritize costs, earnings and cash flow bore fruits in the third quarter. The operating margin gained 4.3 percentage points to 12.0 percent due to these efforts. It was only the second time in the ...
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Article
Champion’s parent company unveils new strategies
Hanesbrands, the parent company of Champion USA, is about to take a new direction. After releasing mixed results for the third quarter, the group’s new chief executive, Stephen Bratspies, said it is conducting an in-depth review of its business to develop a growth strategy better tailored to the post-pandemic world, ...
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News briefs
Superdry pushes e-commerce
Banking on Black Friday to maximize sales through e-commerce in spite of the new retail lockdowns, Superdry says it has launched new campaigns through its influencers that are delivering record levels of engagement. It will be focusing its energies in the area in the coming months with its new chief ...
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Article
An unexpected profit for Canada Goose
Thanks to strong demand from China, Canada Goose posted an unexpected profit in the second fiscal quarter. After posting heavy losses in the first quarter, it has now returned to profits with a net income of 10.4 million Canadian dollars (€6.7-$8.0m) for the three months of its second quarter ...
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Article
Better-than-expected results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
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Article
Alibaba grows by 30%, misses Ant Group’s IPO
Confirming a recovery from the first wave of the Covid-19 pandemic in China, the Alibaba Group reported a 30 percent increase in overall revenues to 155.1 billion yuan renminbi (€19.9bn-$23.5bn) in the third quarter, leading to a rise of 28 percent in adjusted Ebitda to RMB 47.5 billion ($6.1bn-$7.2bn). The ...
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Article
Higher prices boost Fitbit’s sales and margins
Fitbit reported revenues for the third quarter that rose by 5 percent from the year-ago quarter to $363.9 million, driven by higher average selling prices. The net loss grew slightly to $54.5 million on a GAAP accounting basis, but it declined sharply on a non-GAAP basis to $8.3 million from ...
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Article
Best quarter ever for Polygiene
Polygiene reported its “best quarter ever,” with sales rising by 11.7 percent to 22.9 million Swedish kronor (€2.27m - $2.63m) and the gross margin rising by 0.5 percentage points to 70.4 percent, leading to a financial turnaround. The results led to a financial turnaround for the Swedish ingredient brand company, ...
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ArticleCovid affected China’s biggest sports retailer slightly
Topsports International, which claims to manage the biggest network of directly operated stores in the Chinese sports market, reported a 7.0 percent drop in revenues to 15.77 billion yuan renmimbi (€2.0bn-$2.4bn) for the first half of its fiscal year, ended on Aug. 31. The gross margin contracted by 2.1 percentage ...
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ArticleAmazon posts 37% higher sales, net profit triples
Amazon said that its sales in the third quarter grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange ...
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ArticleUnder Armour posts better-than-expected Q3 results
Under Armour reported net income of $38.9 million for the third quarter, compared with $102.3 million in the year-ago period, on virtually flat revenues of $1,433 million. Aside from a weaker gross margin, the lower profitability was essentially due to ongoing restructuring and impairment changes of $74.2 million for the ...
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ArticleColumbia performs better than expected
After a difficult first half of 2020 due to the impact of the pandemic, Columbia Sportswear Company performed better in the third quarter, but the results remained far below those of last year. Its net income tumbled by 47 percent from the year-ago quarter to $62.8 million, while sales dropped ...
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ArticleHoka’s momentum shows no signs of slowing
Once again Hoka One One posted very strong results, helping Deckers Brands grow in its second fiscal quarter ended on June 30. Despite headwinds from Covid-19, the group’s sales progressed by 15.0 percent from the same period last year to reach a new quarterly record of $623.5 million, with ...
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ArticleSequential quarterly improvements for Skechers
While Skechers’ third-quarter sales decreased by 3.9 percent year-on-year and net earnings dropped by 37.6 percent to $64.3 million, it was a significant improvement from the second quarter, when sales where 78.3 percent lower and the company ended with a net loss of $68.1 million. The pandemic significantly impacted Skechers ...
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ArticleShimano’s earnings rise by 10%
Shimano’s sales for the first nine months of the year were down by 2.0 percent from the year-ago period to 264,174 million yen (€2.16bn-$2.53bn), hampered by lockdowns around the world in response to Covid-19. However, sales started to improve during the second quarter due to the soaring popularity of cycling ...
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ArticleTechnogym wants home fitness to generate half of €1 bn in sales
In reporting a 53 percent increase to €98 million in its home fitness segment for the first nine months of this year, Technogym said that its board of directors has approved a new three-year business plan, called Technogym At-Home, that calls for a doubling in the segment’s revenues from a ...
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ArticleMarine, Fitness, Outdoor products drive record Q3 for Garmin
Garmin has reported record third-quarter earnings of $313.4 million, thanks to robust growth in demand for its marine, fitness and outdoor products. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported net sales of $1.11 billion for the 13 weeks to Sept. 26. This compares ...
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ArticlePuma returns to profit and growth
Puma’s revenues for the third quarter rose by 13.3 percent in constant currencies to €1,583, leading to a 13.0 percent rise in net income to €100.5 million. This was in sharp contrast with the second quarter, when the company was hit by a 32.3 percent drop in revenues and ended ...
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ArticleRecord Q3 revenues for Crocs
Thanks to ”exceptional consumer demand and strong sell throughs,” Crocs saw its third-quarter revenues jump by 15.7 percent from the year-ago quarter to a record $361.7 million. In constant currencies they gained 15.9 percent. The company recorded growth in all channels and geographies. It also saw record sales in e-commerce, ...
