Financial insights for the sporting goods industry – Page 73
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ArticleMixed results for Thule
The phasing-out of low-margin contracts with OEMs (Original Equipment Manufacturers) in the U.S. had a negative impact on Thule’s sales of SEK 11 million Swedish kronor (€1.0m-$1.1m) for the fourth quarter, and accounted for half of the negative trend in the region. The Swedish company is known for its roof ...
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ArticleOutdoor and Fitness are Garmin’s power engines
Garmin’s revenues jumped by 18 percent to $1,102 million in the fourth quarter, once again lifted by fitness and outdoor products. Net earnings soared by 90 percent to $360.8 million.
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ArticleBrooks runs faster in EMEA, sues U.S. firm
Brooks Running has reported a sales increase of 18 percent in the EMEA region in 2019, led by the U.K., DACH (Germany, Austria and Switzerland) and France. Revenues grew in the U.K. by 39 percent, in DACH by 18 percent, and in France by 20 percent.
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ArticlePuma outperforms
Puma’s share price rose by 8 percent after the company reported better-than-expected results for the fourth quarter of 2019, with strong gains in Europe. Revenues jumped by 20.6 percent from the year-ago quarter to €1,479 million, while the operating profit (Ebit) surged by 46.8 percent to €55.2 million, and both ...
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Return to profitability for Asics, despite weakness in Europe
Asics Corporation returned to profit for the full 2018 financial year, with net income reaching 7,097 million yen (€59.6m-$64.6m) against a loss of ¥20,327 million for the previous year.
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GoPro ends the year on a high
The battered American brand of action cameras benefited from production delays in the third quarter, which pushed deliveries of GoPro’s new Hero8 cameras into the fourth quarter, leading the company to record strong results for the three months to Dec. 31.
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ArticleUnder Armour’s shares tumble on weak outlook
Investors were disappointed by Under Armour’s performance in the fourth quarter, sending shares down by 17 percent after the company published its results. The group ended the last three months of the year with a net loss of $15.3 million, weighed down by a $42.3 million hit from several accounting ...
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Mizuno lowers its guidance
Weak sales in Japan and Asia in the third fiscal quarter ended on Dec. 31 have led Mizuno to lower its guidance for the full financial year. It now expects sales of 175,000 million yen (€1.5bn-$1.6bn) down from a previous forecast of ¥185,000 million, and net income of ¥5,200 million ...
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ArticleChampion’s sales rise by 40%
Thanks to an expanded product range and wider distribution, Champion’s global sales rose by 40 percent to $1.9 billion in the financial year ended on Dec. 28 excluding the brand’s mass market operations in the U.S., which have been terminated.
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ArticleDecathlon grows by 9.2%
Decathlon has reported a sales increase of 9.2 percent to €12.4 billion (before sales taxes) in 2019, with a gain of 9.1 percent in local currencies and including growth of 3 percent to €3.3 billion in the domestic French market. Globally, the number of transactions went up by 8 percent.
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ArticleXXL looks for new funds, launches massive clearance
XXL ASA is still stuck in a downward spiral and is taking drastic steps to try and stop it, including a search for new “sustainable” sources of liquidity other than new equity. A decision in this respect is expected to be taken during the present quarter, said the management, declining ...
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ArticleSport 2000 increases cross-border cooperation
Reporting growth of 8 percent in retail sales to €4.94 billion including VAT across Europe in 2019, driven by Germany, Sport 2000 International is working on creating a more integrated, vertically oriented retail service organization with a strong international brand, offering new and flexible ways to approach consumers.
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Skechers invests in omni-channel
In reporting a strong 23.1 percent increase in overall revenues to $1,330 million for the fourth quarter of 2019, Skechers’ management revealed that it is developing a new omni-channel retailing platform where its brick-and-mortar stores will be more integrated with its e-commerce operations.
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Columbia’s sales growth is softening
The management of Columbia Sportswear is projecting an increase of 4.5 to 6.0 percent in its total sales this year, with an operating margin of 12.6 to 12.8 percent.
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Expanding abroad, Hoka is still Deckers’ engine of growth
Deckers Brands, the parent of Ugg and other footwear brands, recorded good sales and earnings in the third quarter ended on Dec.31, once again boosted by Hoka One One, which is now selling fewer shoes in the U.S. than in the rest of the world.
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Johnson Outdoors’ profits jump by 83%
Johnson Outdoors recorded strong gains in revenues and profits in all its divisions except Watercrafts for its first fiscal quarter, ended on Dec. 27, 2019. The company’s net income jumped by a staggering 83 percent from the year-ago period to $6.4 million.
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ANWR grows by over 50%, up bt 9.6% in sporting goods
The ANWR Group, the big international cooperative of independent retailers based in Mainhausen near Frankfurt that controls Sport 2000 and other franchised chains in various countries, proudly boasted an increase of almost 54 percent in its total business volume to €14.6 billion in 2019. The year marked the 100th anniversary ...
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VF lowers its outlook
In releasing its results for its third quarter ended on Dec. 28 on Thursday, VF Corporation said its business so far this year has performed at the high end of its group’s long-term growth objectives, but the management admitted that it will not be able to meet the targets it ...
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Lululemon is riding impressive momentum
Lululemon Athletica seems unstoppable. Citing a strong holiday period, it has upgraded its revenue and earnings guidance for the fiscal fourth quarter ending on Feb. 2, 2020. The company’s shares, which nearly doubled in value last year, gained an additional 3 percentage points after the announcement.
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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 ...
