Financial insights for the sporting goods industry – Page 72
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Article
Crocs raises its guidance
As it recorded its strongest fourth quarter ever, Crocs decided to raise its revenue guidance for the last three months of 2019. The company now expects revenues to have risen by 21 percent from the year-ago period, reaching a level of $260 to $262 million, up from a previous forecast ...
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News briefs
Stella International Holding's consolidated revenues drop by 10.9%
Stella International Holding posted consolidated revenues of $345.4 million in the final quarter of 2019, representing a 10.9 percent drop as compared to the same period in 2018. The Chinese group experienced an 8.6 percent decline to 13.8 million pairs in the volume of manufactured shoes, accompanied by a drop ...
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ArticleXXL issues another profit warning
XXL issued a profit warning last week, citing particularly weak trading conditions in December and at Christmas. It said poor winter conditions in the big cities where it operates, combined with large price cuts from competitors, contributed to a sales drop of 12 percent on a comparable basis in the ...
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News briefs
Tradeinn was expecting to close out 2019 with about €150...
Tradeinn was expecting to close out 2019 with about €150 million in sales. The Spanish online retailer of sporting goods has instead achieved €188 million, for a leap of 40 percent from the previous year. According to the founder, David Martín, the group was already looking past its stated target ...
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ArticleMargins rise on lower sales in SDI’s sports stores
Sports Direct International decided at its general meeting in London on Dec. 16 to change its name to Frasers Group, as its £90 million (€105.1m-$116.5m) acquisition in August 2018 of House of Fraser, the embattled British department store chain, is adding a new dimension to the company that Mike Ashley ...
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ArticleDigital-driven Nike gains market shares in Europe
As in the previous quarter, Nike grew more slowly in North America in the second quarter than in the rest of world, where it still has more opportunities to expand. It even picked up steam in the Europe, Middle East and Africa (EMEA) region during the period, in spite of ...
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ArticleStella’s revenues drop by 2% on soft European market
Stella International’s revenues for the third quarter were down by 2 percent from the year-ago period to $447.9 million. The Chinese shoe manufacturer blamed the decline on its strategic decision to prioritize margin improvement over growth in shipment volumes.
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Article
Nautilus tries to recover
Just as in the first half of this year, Nautilus ended the third quarter with a loss, as revenues tumbled by 32.2 percent to $61.7 million, weighed down by the Direct segment. The lower revenues and an unfavorable product mix impacted the gross margin, which dropped by 11.4 percentage points ...
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Article
Mizuno posts mixed results
Sluggish sales of sporting goods in Japan weighed on Mizuno’s sales for the first half of its fiscal year through September. They fell by 1.7 percent from the year-ago period to 85.5 billion yen (€708.8m-$784.2m), but they recorded increases in constant currencies in North America, the EMEA region and Australia, ...
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Article
Lululemon invests in a smart mirror start-up
Lululemon has joined in a just completed $34 million Series B funding round for a New York-based high-tech fitness start-up, Mirror, which launched a smart full-length LCD mirror in September of last year. The display can be used as an interactive home gym, with live and on-demand fitness classes. Taking ...
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News briefs
The Signa Retail Group signs letter of intent with the Otto Group to take over SportScheck
The Signa Retail Group, which already owns Karstadt Sports and a group of sports-specific e-tailers called Signa Sports United, has signed a letter of intent with the Otto Group to take over its SportScheck chain of sporting goods stores, according to Germany’s Lebensmittelzeitung. The report could not be confirmed, but ...
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ArticleGood sales momentum for Foot Locker
Foot Locker reported a 5.7 percent increase in comparable store sales for the third quarter ended on Nov. 2, indicating an improvement from the previous quarters as the increase for the first nine months of the year was only 3.8 percent. However, the management predicts that the increase on a ...
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Article
Golfino files for insolvency
Golfino, the leading German golfwear specialist based in Hamburg, filed for insolvency at the local court of Hamburg earlier this month. The company continues to operate nonetheless. Jens-Sören Schröder, a lawyer with Johlke, Niethammer & Partner in Hamburg, has been appointed as provisional insolvency administrator. The company’s financial problems are ...
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Article
Strong progress for Fila in Europe
Like Puma and Champion, Fila continues to grow faster than much bigger sports brands like Nike, Adidas and Under Armour. The Italian heritage sports brand’s momentum remained particularly strong in Europe during the third quarter of 2019, as Fila Korea’s licensing royalties from the region surged by 59.3 percent to ...
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Article
Lafuma is selling Eider
Lafuma has received a binding acquisition offer for its Eider brand from K2, the South Korean technical outdoor company.
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Article
Moncler’s sales grow despite Hong Kong riots
Moncler posted consolidated revenues of €995.3 million in the first nine months of the year, representing a 14 percent increase at current exchange rates versus the same period in 2018. At constant exchange rates, the increase was 12 percent. The double-digit revenue growth continued through the third quarter, with sales ...
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Article
Canada Goose benefits from earlier shipments
Canada Goose Holdings saw revenues for its second fiscal quarter ended on Sept. 29 jump by 27.7 percent from the year-ago quarter to 294.0 million Canadian dollars (€201.1m-$222.4m), or by 28.3 percent on a constant currency basis. However, it said that part of the growth was due to orders for ...
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Article
Under Armour boosts Vulcabras’ results
Vulcabras has reported a sales increase of 11.6 percent to 359.4 million Brazilian reais (€76.4m-$84.2m) for the third quarter of 2019, thanks in part to the higher-prices shoe that the company is selling with the Under Armour brand name in Brazil under its new contract with the American company. The ...
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Article
Strong gains at Alpargatas
The new owners of Alpargatas moved its head office to less expensive premises in São Paulo with a more collaborative layout during the month of August.
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Article
Delays affect GoPro’s results
Production delays pushed deliveries of GoPro’s new Hero8 cameras into the fourth quarter, leading the company to record weak results for the third quarter, but the drop was lower than what GoPro and the financial community had predicted. Revenues tumbled by 54.1 percent to $131.2 million, while the gross margin ...
