Financial insights for the sporting goods industry – Page 70
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Article
Mixed picture for Le Coq
In a preliminary statement, Airesis said that the 2019 financial figures of Le Coq Sportif did not meet the Swiss holding company’s expectations, but the management was able to react quickly, putting the necessary adjustments into action.
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ArticleNo pressure for the sale of Mammut
As previously reported, the Conzzeta Group plans to divest its Outdoor division, which essentially consists of the Mammut Sports Group. Addressing financial analysts, the Swiss group’s management pointed out, however, that it is under no pressure to sell it at just any price because of the current economic uncertainty.
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ArticleLenzing focuses on specialty fibers to achieve sustainable growth
(updated on March 26) In view of the rapidly spreading cornavirus epidemic, the Austrian fiber producer withdrew its former guidance and said it is now expêecting its results to decline in 2020. Due to a “historically difficult” market environment in 2019, Lenzing posted lower revenues and earnings for 2019. Sales ...
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News briefs
Standard & Poors and Moody’s downgrade Boardriders
Standard & Poors and Moody’s have both downgraded the credit rating of Boardriders, the parent company of Quiksilver, Roxy, Billabong and other action sports brands. S&P has reversed its outlook to negative based on results and guidance provided by the company to the rating agency. It feels that its operating ...
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Article
Mixed results at Foot Locker
Globally, Foot Locker’s sales decreased by 2.2 percent to $2,221 million in the fourth quarter ended on Feb. 1, with a drop of 2.0 percent in local currencies. On a comparable store basis, sales were off by 1.6 percent worldwide, but Foot Locker Europe’s sales were flat and the Runners ...
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Article
With higher sales and visits, Zalando pushes its marketplace
Zalando’s momentum keeps going, and the e-tailer is looking at new ways to grow after posting strong results for the fourth quarter of the year. One of the highlights was a jump in the number of site visits, which progressed by 31.9 percent to 960.7 million.
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Article
Accell’s new focus on Europe bears fruits
Accell Group, the Dutch-based company behind Haibike, Lapierre, Batavus, Raleigh and many other bicycle brands, said that its turnover accelerated across the board in 2019 outside North America, where it is no longer operating directly. Excluding divestitures, the group’s revenues increased by 7.5 percent last year to €1,111 million, with ...
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News briefsGrowing Hoka One One moves into apparel
Hoka One One, the fast-growing running footwear label of Deckers Brands, is launching its first apparel line for runners, walkers, fitness enthusiasts and outdoor adventurers. For the moment, the 27-piece collection for men and women will only be available online at the brand’s American website, hokaoneone.com. Twenty items are also ...
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ArticleAdidas posts strong results, but warns about coronavirus impact
The year 2019 was a pretty good one for the Adidas Group. On March 11, the company reported revenue gains in all the regions, with Europe returning to growth, and strong increases in direct-to-consumer sales, while profit margins improved. However, the share price tumbled by about 10 percent as the ...
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ArticleCrocs returned to profits in Q4
Crocs continued to reap the benefits of its efforts to restructure, ending the year with a profit against a loss for the same quarter a year ago. In the fourth quarter ended Dec. 31, it delivered strong direct-to-consumer (DTC) growth and sell-through at the wholesale level, leading revenues to reach ...
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ArticleMany factors weigh on Globe’s profits
The strong U.S. dollar hampered the financial results of the Australian multi-brand skate company for the first half of its fiscal year ended on Dec. 31. The net income was down by 9 percent to 3.9 million Australian dollars (€2.3m-$2.7m). This happened despite a net gain of A$ 3.7 million ...
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Article
Strong momentum for Acushnet and Kjus
The management of Acushnet believes that each of its businesses is has a strong momentum in the new year. In particular, the American golf company controlled by Fila Korea expects that the Kjus brand will continue its rapid progress within golf, benefiting from the launch of a new Gemini rainwear ...
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ArticleNautilus re-launches its digital platform
Significant reductions in expenses in the fourth quarter helped Nautilus to reach a net income of $3.5 million, up from $1.4 million for the same period a year ago, in spite of sharply reduced revenues and a lower gross margin.
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ArticlePrimaloft will make more noise
No figures are available, but Primaloft is said to have become very profitable after growing for a while at a double-digit rate every year. Some of the profits are going to be reinvested in consumer-oriented advertising to build up brand awareness, probably starting with the autumn/winter 2021 season, to accompany ...
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ArticleBasicNet exceeds €1 billion in aggregate revenues for the first time
BasicNet, the owner of Kappa, K-Way and other brands, posted aggregate sales of €1,025 million, representing a 17.1 percent increase as compared to 2018, based on preliminary figures. The figure includes €742.9 million from commercial licenses and €282.4 from production licenses. The operating result before amortization and depreciation (Ebitda) of ...
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Article
Shimano buys Pioneer Sports Cycle assets
Shimano is planning to develop new products, web services and applications using certain assets of Pioneer Sports Cycle that it has acquired from Pioneer Corporation, the U.S. company that developed the first pedaling monitor and cycling computers in 2013.
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Article
Big loss at Fitbit pending Google’s bid
Google’s proposal to acquire Fitbit for $2.1 billion was approved by the latter’s shareholders on Jan. 3, but it is still undergoing regulatory scrutiny in the U.S. and Europe. In both areas, regulatory authorities have expressed concern that the health and other data being collected by Fitbit will be used ...
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Article
MIPS’ sales jump by 41%
MIPS, a Swedish supplier of helmet-based safety technologies intended to protect wearers against rotational movements, saw good growth in the fourth quarter, with sales rocketing by 41 percent from the year-ago quarter to 88 million Swedish krona (€8.3m-$9.0m). Adjusted for currency effects and acquisitions, and on an organic basis, they ...
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Article
Canada Goose lowers outlook due to Coronavirus impact
Canada Goose Holdings has drastically lowered its guidance for the financial year ending on March 29 due to the coronavirus outbreak and its impact on sales in Mainland China. The management said that the virus is affecting retail sales of its products both in China and in stores located in ...
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Article
New CEO for Rapala
In the midst of reforms to turn around the business, Rapala VMC has appointed Nicolas Warchalowski as its new chief executive, effective from March 1, 2020. He has had an extensive career in international consumer businesses, heading up companies such as BabyBjörn, Peak Performance and Haglöfs.
