Financial insights for the sporting goods industry – Page 64
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News briefs
Sequential Brands' losses decline
Sequential Brands, which licenses brands such as And1 and Avia, saw its net loss decline to $2.78 million in the second quarter from $4.59 million in the year-ago period, although its revenues from continuing operations contracted by 14.4 percent to $22.6 million. Adjusted Ebitda improved to $15.1 million from $13.3 ...
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News briefs
Yonex sees gains in Europe and North America
Yonex’ revenues went down by 44 percent to 8,200 million yen (€65.0m-$76.3m) in the first fiscal quarter ended on June 30. In Japan, which represented 40 percent of turnover, sales declined by 65 percent from the year ago quarter. However, In North America, they rose by 15 percent to represent ...
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News briefs
Iconix’ sales drop by 35%
The Iconix Brands Group, which owns several brands including Umbro and Danskin, faced an impairment charge of $5.2 million for the second quarter due to store closures and other restrictions related to the coronavirus outbreak. The charge led the company to post a net loss of $17.4million, versus net income ...
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News briefs
Big recovery at Foot Locker
In a preliminary statement that sent its stock price high, Foot Locker revealed a jump of 18 percent in same-store sales during its third quarter ended on Aug. 1. Analysts had forecast a loss for the company, but Foot Locker indicated that it may have even beaten the $60 million ...
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Article
Asics posts heavy losses
After ending the first quarter in the red, Asics posted steep losses again in the second quarter. They reached 11,700 million yen (€92.5m-$109.5m), versus a profit of ¥2,100 million for the same quarter last year. Sales were off by 21.5 percent to ¥146,800 million (€1.16bn-$1.37bn) in the period, or by ...
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News briefs
Slinger Bag beats sales projections in multiple markets
Slinger Bag, the brand behind the eponymous combination ball launcher and tennis bag, has exceeded its sales projections in Japan, Scandinavia, Switzerland and the U.K., possibly indicating that tennis afficionados are eager to return to the game. Although it was launched in those markets as recently as late May, at ...
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Article
Vulcabras banks on its business model for the recovery
Vulcabras, parent company of Olympikus and Brazilian licensee for Under Armour, claims that its business model, which relies for the most part on in-house shoe production at two modern factories in the Brazilian northeast, is giving it a unique agility in responding to the Covid-19 crisis, positioning it as an ...
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Article
Cycling boom benefits Dorel Sports
Like many other bike companies, Dorel Sports, the cycling division of Dorel Industries, has been growing during the pandemic. It registered revenues of $285.6 million for the second quarter, representing an 18.5 percent increase from the same quarter last year, driven by strong performances at the Cycling Sports Group (CSG), ...
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News briefsCurrency headwinds weigh on Helly Hansen’s results
Helly Hansen’s revenues for the second quarter fell by 21.0 percent to 68.9 million Canadian dollars (€44.1m-$52.1m), weighed down by store closures and foreign-currency headwinds. In constant currencies, they were down by 12.6 percent. Most wholesale customers were closed across the globe in the quarter, as were distribution centers and ...
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ArticleGoPro’s losses widen
The U.S. action camera brand’s sales tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net loss ...
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Article
Moody’s and S&P forecast 15% lower sales at Amer in Q3
In a new report, the rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda showed a loss of €26 million for the first half, against ...
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News briefsJohnson Outdoors’ Diving segment got the hardest hit
Strong Fishing, Watercraft Recreation and Camping sales after the corona-related lockdowns in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ending ...
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ArticleAdidas ends in the red, sees upside
The German sportswear giant posted an operating loss of €333 million, compared with an operating profit of €643 million a year earlier, due to several coronavirus-related charges. These were mainly due to increased inventory and bad debt allowances, as well as impairment charges for retail stores and the Reebok trademark, ...
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ArticleWolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
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ArticleAcushnet’s sales fall by 35%
Acushnet, the American golf company controlled by Fila Korea, had a difficult start to the second quarter, but it witnessed a recovery in sales after lockdown eased and demand for golf products picked up again. Following the re-opening of its production facilities and distribution centers in late May, the company ...
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ArticleFitbit’s Q2 sales fall as Covid-19 hits demand; EU probes Google merger
Fitbit reported a fall in second-quarter sales as demand for its devices slumped and warned the coronavirus pandemic would have a negative effect on full-year earnings. Second-quarter revenue fell 16.7 percent to $261.3 million, driven by a 30 percent decline in device sales. The wearable technology maker, which is preparing ...
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ArticlePandemic harms American Apparel owner Gildan in Q2
Sales at Gildan Activewear, a Canadian group that bought American Apparel in early 2017 and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America, plunged in the second quarter as the company swung to a net loss, reflecting the impact of the coronavirus pandemic ...
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ArticleLenzing's sales slump in H1 due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
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ArticleAlpargatas thrives abroad in a challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues outside the domestic Brazilian market in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage ...
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ArticleCrocs results fueled by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic. Revenues for the three months ended on June 30 declined by 7.6 percent from the year-ago quarter to $331.5 million, or by 6.0 percent on ...
