Financial insights for the sporting goods industry – Page 8
-
News briefsPerfect Moment lowers annual operating loss
British luxury skiwear and lifestyle brand Perfect Moment lowered its annual operating loss by 11 percent to $7.7 million for the 12 months ended March 31.
-
ArticleFrasers calls FY24 ‘a breakout year’ for future growth
Frasers Group, citing its strengthened brand partnerships and the ongoing execution of its “Elevation Strategy,” is eying £575–£625 million in annual adjusted profit before tax for the current fiscal year ending in April 2025.
-
ArticleFootway publishes Q2 report, announces sale of Footway+
As part of the previously announced strategic review, the Board of Directors of Footway Group AB has decided to sell Footway+ with preferential rights for the company’s shareholders.
-
News briefsSkechers continues to grow in Iberia
Skechers USA Iberia broke €200 million in annual revenues (VAT excluded) in full-year 2023, according to CMDsport.
-
ArticleAdidas raises FY forecast after better-than-expected Q2
Adidas continues to surf the wave of success of the Q1 report from May. The company’s sales rose 9 percent to €5.822 billion in Q2. The significantly smaller Yeezy business had a negative impact on the year-on-year result.
-
News briefsXtep sales grow 10% in Q2
Chinese group Xtep Intl., which acquired 100 percent of the Saucony and Merrell business in China in December and divested K-Swiss and Palladium in May, said in an operational update on July 15 that retail sales (including offline and online channels) for its core Xtep brand grew 10 percent in ...
-
News briefs361 Degrees’ e-comm continues to exceed expectations in Q2
Chinese group 361 Degrees Intl.’s retail sales of its key branded products increased by around 10 percent year-on-year in Q2. Meanwhile, retail sales of 361° Kids grew in the mid-teens in the same period, the company said. The e-commerce platform continued to exceed expectations with year-on-year growth of 30 to ...
-
News briefsAsics lifts guidance, reports strong first half
Bolstered by double-digit sales growth across all global regions in Q2, Asics Corp. raised its full-year guidance late last week. The Japanese group is now forecasting 11.9 percent annual revenue growth to ¥660,000 million (€3.82bn) and a 64 percent increase in operating income to ¥95,000 million (€550.1m) for the 12 ...
-
ArticleXXL Q2 sales disappoint, but signs of improvement in Sweden, Norway
XXL ASA reported what it described as a “disappointing” sales performance in the second quarter of 2024. Its top line fell by 8.7 percent to 1,776 million Norwegian kroner (€151.7m), led by a decline in purchases of higher-priced capital-intensive goods, particularly bicycles. Sales were also negatively affected by limited product ...
-
News briefsCommercial revenues flat for Manchester United in Q3
For the third quarter ended March 31, Manchester United’s commercial revenues were flat at £69.6 million (€81.6 million). Retail, merchandising, apparel and product licensing were also flat at £28.9 million (€33.9 million), attributable to the Adidas expansion, which was partially offset by lower megastore sales due to nine fewer games ...
-
News briefsStrong Q2 for Anta Sports
The Board of Directors of Chinese sportswear giant Anta Sports announced that its core brand Anta’s sales grew in the high single digits in the second quarter. Retail sales of the Fila brand, which it jointly owns in China through a joint venture with Fila Korea, also did not lag ...
-
News briefsMunich posts 9% sales growth
Spanish sneaker brand Munich recorded sales exceeding €81 million in 2023, representing a 9 percent growth compared to the previous year and an 82 percent increase when compared to 2019, La Vanguardia reported. Growth last year was driven by internationalization and the expansion of its own retail network. Munich opened ...
-
ArticleNike will aim to recapture mojo with innovation as it lowers FY25 outlook
Nike shares tumbled to their lowest level in 636 days to $82.66 in after-hours trading last evening after the company reported a 2 percent drop in Q4 revenues and flat sales in FY24 ended May 31. Ahead of the group’s earnings announcement, which included a downward revision to its FY25 ...
-
ArticleRip Curl showing positive DTC growth in northern hemisphere
Rip Curl, despite a “challenging consumer environment,” has generated positive year-over-year, single-digit sales growth in the direct-to-consumer channel in Europe and the US ahead of the peak weeks during the summer season. The brand’s wholesale customers, meanwhile, continue to reduce their inventory levels. Parent KMD Brands said Rip Curl’s global ...
-
News briefsDecathlon UK makes £2m loss, invests £10m in restructuring measures
Decathlon UK reported a 5 percent drop in sales and a 2.5 percent sales decline on a same-store basis in 2023. The British arm of the French-based retailer experienced a full-year loss of £2 million (€2.37m) after investing £10 million (€11.8m) in transformation initiatives. The results were also affected by ...
-
News briefsSerious sales growth at Pro Padel Shop
Padel Pro Shop’s first-half sales for 2024 doubled year-on-year, from €4 million to more than €8 million, according to TradeSport. The e-commerce specialist expects to generate €20 million by year’s end. This would be up from FY 2023’s €10 million. Its verticals, pádel and handball, as founder and CEO Dionisio ...
-
News briefsPlanet Fitness secures $800m for strategic refinancing
Planet Fitness, Inc. announced that it has completed its previously announced refinancing transaction. The new series of securitized notes consists of $800 million of Class A-2 senior secured notes issued in two tranches: Class A-2-I senior secured notes with an expected redemption date of five years, a principal amount of ...
-
News briefsLe Coq Sportif’s losses soar, SIX suspends trading of Airesis
Swiss holding company Airesis announced as part of the presentation of preliminary figures that Le Coq Sportif, which will provide the French teams at the Olympic Games in Paris with around 370,000 items of clothing and equipment, suffered a loss of around 36 million Swiss francs (€37.3m) in 2023 and ...
-
News briefsGolden Goose set to value almost €1.9bn at IPO
Italian luxury sneaker brand Golden Goose is aiming for a market capitalization of up to €1.86 billion when it goes public on the Milan Stock Exchange. The company has set a price range of €9.50 to €10.50 for the listing in order to raise up to €558 million before exercising ...
-
ArticleDespite unsatisfactory 2023 result, Hummel’s CEO aims for top-ten market position
In its 2023 financial statements, Danish sports brand Hummel set a new sales record for the third year in a row. Revenue increased from 2.201 billion Danish kroner (€295.06m) in 2022 to DKK 2.225 billion (€298.27m) in 2023. Still, the cost of realizing inventory, rising interest rates and bankruptcies of ...
