Financial insights for the sporting goods industry – Page 66
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ArticleAnalysis: Digital accelerates at Nike after a poor quarter
Nike has decided to accelerate the digital development of its “consumer-direct offence” program after suffering a 36 percent currency-neutral drop in group revenues for the fourth quarter of its financial year, ended May 31. The rate of decline would have been steeper without the fruits of its earlier investments in ...
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News briefs
Goldwin’s new forecast highlights Covid-19’s impact
Goldwin, which also controls The North Face’s trademark in Japan and has a stake in Woolrich International, has issued its outlook for the full year ending in March 2021. It forecasts that revenues will decline by about 23 percent from the previous year to 75,000 million yen (€624.7m-$688.0m). The Japanese ...
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News briefs
Kinnevik sells shares in improving Zalando
Kinnevik, which is Zalando’s biggest shareholder, has sold 10.6 million shares in Zalando to institutional investors, reducing its stake from 26 percent stake to 21.3 percent and taking advantage of a recent increase in the e-tailer’s share price. The announcement came just before Zalando said that it will post significantly ...
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Article
Kappa lifts China Dongxiang’s sales, despite the pandemic
The recent introduction of a direct-franchise model, designed to ensure a sufficient supply of products in the stores through bulk orders of merchandise, lifted the Chinese sports company’s revenues, which were up by 12.6 percent on a comparable basis in the new financial year ended on March 31, reaching 1,841 ...
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ArticleSport 2000 helps retail members through the corona crisis
The coronavirus crisis has shown that buying groups can perform some useful services for their members besides handling relations between retailers and their suppliers. While continuing to work on new store concepts, Sport 2000 International has been helping many of its retail members, who run 3,950 stores in 23 countries, ...
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News briefsXXL expects a sales rebound of 25-30%
Mentioning a “strong” spring/summer season for sports retail in the Nordic markets following the Covid-19 situation, XXL ASA said it now expects an increase in its revenues of 25 to 30 percent for the second quarter ending on June 30, as compared to the year-ago period, which could generate an ...
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News briefs
Boardriders sees it credit rating lowered
Standard & Poor’s has downgraded Boardriders’ debt rating to CCC+ from B- after the company reported that it recorded “severely negative” Ebitda on 40 percent lower revenues for the second quarter ended on April 30, indicating that it may need additional liquidity to meet its obligations. Ebitda is expected to ...
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ArticleAccell benefits from a strong bike market
The post-Covid bike market is going strong in Europe, as indicated by a business updated released by Accell Group, although it seems that the boom is mostly affecting bicycles used for transportation rather than sport, as indicated also by a recent report by the NPD Group on the bike market ...
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Article
Lululemon suffered less than its peers
Despite strong gains in e-commerce, store closures due to the Covid-19 pandemic weighed on Lululemon Athletica’s sales, affecting its quarterly performance and sending the vertically integrated yoga apparel maker’s sales down by about 7 percent. Financial analysts had anticipated that the company would book sales of nearly $700 million for ...
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News briefs
Zumiez has weathered the corona crisis relatively well
Zumiez has reported a 35.3 percent dip in its global sales for the first quarter ended on May 2, but indicated that the rate of decline has slowed in subsequent weeks. On May 2, only 9 percent of its 719 stores in North America, Europe and Australia were open. By ...
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News briefs
Decathlon grew by 26.4% in Germany in 2019
Correcting a German press report, the German subsidiary of Decathlon indicates that its net sales went up by 26.4 percent to €654 million in 2019. Online sales accounted for more than 20 percent of the French retailer’s sales in the country. Decathlon opened 16 stores in Germany in the course ...
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News briefs
Tradeinn on track for another stellar year
Pandemic or not, Tradeinn continues to grow. For the first five months of 2020, the Spanish sports e-tailer exceeded €100 million in sales – more than half of last year’s total of €188 million. Its objective for the whole of 2020 – according to the founder and chief executive, David ...
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News briefs
Wolverine performs better than expected
Wolverine Worldwide told analysts at the Baird 2020 Global Consumer, Technology, and Services Conference on June 4 that its sales were better than expected in the first nine weeks of its second quarter, falling by less than 50 percent overall. The impact of the coronavirus-related retail lockdown was partly offset ...
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Article
China grows again for Adidas
Adidas reports that its overall business in Greater China turned positive in May, as compared to a year earlier, leading it to predict more or less flat revenues in the region during the second quarter ending on June 30. The region represents about one-quarter of the Adidas Group’s total turnover ...
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Article
Canada Goose was resilient against Covid-19
Canada Goose Holdings was not hit as hard as other clothing brands by the pandemic, which it attributed to the seasonal nature of its business. While it felt the impact of store closures late in its fiscal year, which ended on March 29, 2020, its peak activity time had been ...
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ArticleDecathlon targets a 7.5% margin on 10-15% lower sales in 2020
While predicting a drop of between 10 and 15 percent in its global sales for this year, due to the Covid-19 pandemic, Decathlon is planning to accelerate its investments in omni-channel retailing and the development of certain product categories to improve its chances for a relatively quick recovery. Thanks in ...
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News briefs
The corona crisis boosts Shimano’s stock market value
The stock market capitalization of Shimano hit a record high at 1,897 billion yen (€15.8bn-$17.6bn) on May 19 before decreasing slightly to ¥1,836 billion at the end the month. The share value rose by about 27 percent between May 1 and 31. According to financial analysts, the rise in demand ...
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News briefs
Yonex declines by 6%
Yonex’ revenues went down by 5.9 percent to 15,377 million yen (€128.8m-$143.4m) in the fourth quarter of its financial year, ended on March 31. In Japan, which accounted for 60 percent of the company’s total turnover, sales declined by 13 percent from the year-ago quarter. In North America, they dropped ...
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Article
Descente swings to a loss
Hampered by the coronavirus outbreak, Descente ended its financial year on March 31 with a net loss of 2,481 million yen (€20.9m-$22.8m), against a profit of ¥3,944 million for the previous year. Its revenues fell by 12.8 percent to ¥124,561 million (€1.0bn-$1.1bn) for the twelve months. The gross margin dipped ...
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Article
China’s Topsports grows despite Covid-19
Topsports International Holdings, the sports retailing arm of Belle International, published good results for the year ended on Feb. 29, although the growth slowed drastically at the end of the period due to the pandemic. The Chinese group, which raised $1.01 billion in an initial public offering on the Hong ...
