Financial insights for the sporting goods industry – Page 69
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News briefs
Polygiene is trending up
Polygiene stabilized its business in 2019, with sales declining by just 0.3 percent to 68.8 million Swedish kronor (€6.34m-$6.82m), with cash flow improving and turning positive. Sales actually grew by 6.3 percent excluding the divested Protective Surfaces business, but the operating margin declined and the company ended up with a ...
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Article
Saucony, Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide fared relatively well in the first quarter ended on March 28 - given the challenging conditions caused by Covid-19 – thanks mainly to higher online sales and strong performance in Europe and by the Saucony brand.
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Article
VF lowers its outlook, refinances
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicates that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover.
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News briefs
Anta took some market share in Q1
Anta Sports Products was apparently less affected by the coronavirus outbreak during the first quarter in its home market than the big international brands, which previously reported declines of up to 80 percent in the country. In a preliminary statement, Anta, which operates mainly in China, indicated that retail sales ...
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News briefsMammut falls by 26.2% in Q1
The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted ...
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Article
Nautilus swims against the tide
In a difficult context due to the coronavirus pandemic, while many other sports equipment companies faced a grueling first quarter, Nautilus released strong preliminary figures. It posted sales for the first three months of the year that gained 11 percent to around $94 million. It was the first time that ...
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News briefs
Acushnet withdraws guidance
Acushnet said it is withdrawing its guidance for this year’s results, while drawing down $200 million under its revolving credit facility to cope with the impact of the coronavirus epidemic in Europe and North America. The company said that its sales in South Korea and Japan have started to recover ...
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Article
Kathmandu’s sales jump by 52% on Rip Curl’s acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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Article
Yue Yuen posts mixed results
Yue Yuen Industrial Holdings, the world’s largest footwear producer, reported a 4.2 percent increase in sales to $10,105 million in 2019, driven by a double-digit increase in retail revenues. However, the Chinese company’s gross margin lost 0.3 percentage points, going down to 24.9 percent. and its net income fell by ...
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Article
Li Ning’s profits soar
Even though it faced a difficult comparison base due to a stellar year in 2018, Li Ning managed to more than double its net income in 2019 to 1,499 million yuan renminbi (€192.2m-$211.4m). The Chinese sports company’s annual sales jumped by 32 percent from the previous year to 13,870 million ...
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Article
Fila performs well in Europe
The Italian heritage sports brand’s momentum remained particularly strong in Europe during the fourth quarter of 2019, as Fila Korea’s licensing royalties from the region surged by 47 percent from the year-ago quarter to 39,200 million Korean won (€29.2m-$32.0m).
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Article
A stellar year for Lululemon
Lululemon Athletica ended the year the same way it started, with sales and profits soaring. This was expected, since the company raised its guidance in January to reflect a better-than-expected holiday period.
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ArticleNike’s anti-coronavirus playbook works out
Nike’s share price rebounded strongly when the New York Stock Exchange opened on Wednesday morning after the release of the company’s third-quarter results at the end of the previous day. It opened at $80.11 as compared to $66.75 on Tuesday morning and $72.16 on Tuesday evening, partly aided by a ...
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Article
Good results for Anta, despite a loss from Amer
Led by Fila, for which it has the rights for Greater China and Singapore, Anta Sports Products reported a 30.3 percent increase in net income to 5,344 million yuan renmimbi (€695.4m-$752.2m) for 2019, while revenues increased by 40.8 percent to RMB 33,927 million (€4.4bn-$4.5bn). The gross margin and the operating ...
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Article
Efficiency gains boost Stella’s profits
Stella International’s profits for 2019 soared by 54.2 percent to $95.9 million. It attributed this improvement in profitability to progress in migrating production capacity from Mainland China to Southeast Asia, including the ramping up of operations at its new manufacturing facility in Vietnam, which makes sports fashion footwear for Nike. ...
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Article
Record sales for New Wave
The New Wave Group, the company behind Craft and Cutter & Buck, saw sales jump in the fourth quarter by 4 percent to 2,024 million Swedish kronor (€183.6m-$201.0m), or by 1 percent in constant currencies. This is the highest sales level that the Swedish company has ever recorded in a ...
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Article
Technogym’s sales slow down in Europe
Technogym saw a slowdown in its European business in 2019, which the Italian company blamed on uncertainty in the U.K. due to Brexit, weakness in Russia, and a difficult comparison base in Italy with 2018, when key accounts made large purchases from the big Italian supplier of fitness equipment.
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Article
Alpargatas’ growth softened in Q4
Against the backdrop of a Brazilian economy that grew by just 1.0 percent in 2019, in line with the previous one, Alpargatas’ consolidated revenues grew by 9.8 percent last year to 3,712 million Brazilian reais (€672.4m-$724.4m), driven by an improved of Havaianas in international markets. The adjusted net income went ...
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Article
Vulcabras has restructured its production
Noted for its insistence on local manufacturing of athletic and women’s shoes, the owner of the Olympikus brand and licensee of Under Armour in Brazil completed the second wave of expansion of its two main factories in Brazil at the end of last year. While starting the second phase of ...
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News briefs
Decathlon Ireland exceeds €1bn in revenues
According to the Irish Examiner newspaper, Decathlon generated annual sales of more than €1.1 billion in Ireland in 2018 even though its first physical store on the national territory is set to open no sooner than next month – at Ballymun in north Dublin. The main reasons appears to have ...
