Latest Headlines – Page 152
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Callaway’s sales soar, boosted by Jack Wolfskin
After two consecutive quarters of mixed results, the latest quarter was an improvement for Callaway Golf. The group's net profit for the three months ended June 30 sank by 53 percent from the year-ago period, down to $28.9 million, but this was mainly due to currency headwinds and the impact ...
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Lower sales and profits for Acushnet
Acushnet had a disappointing second quarter, hampered by lower sales of Titlest golf clubs. The company saw its net income drop by 3.5 percent year-on-year to $38.5 million, while revenues fell by 3.3 percent to $462.2 million, or by 0.8 percent on a constant-currency basis.Although the company recorded lower sales ...
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Mizuno sees lower sales, but profits soar
A weak home market for sporting goods weighed on the Japanese company's sales for its first fiscal quarter, ended on June 30. Depressed by the depreciation of the yen, they fell by 1.4 percent from the year-ago quarter to 42.2 billion yen (€358.9m-$401.1m) with declines in all the regions except ...
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Sierra drags down Clarus’ revenues
Clarus' momentum seems to be slowing down, after a first quarter that saw the company grow by 15 percent, reaching record revenues. In the second quarter, the group's sales only progressed by 2 percent to $46.9 million - or by 3 percent in constant currencies - weighed down by the ...
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Tariffs weigh on Johnson Outdoors’ profits
Johnson Outdoors' earnings for its third fiscal quarter, ended on June 28, were hampered by the first round of new tariffs that were imposed by the U.S. on China last September amid the ongoing trade war between the two countries. The company's net income declined by 7.1 percent from the ...
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GoPro is getting closer to breakeven
GoPro's aggressive cost cutting efforts, disciplined expense and inventory management are starting to bear fruits. While the gross margin expanded by 5.5 percentage points to 34.9 percent, the American brand of action cameras managed to narrow its net loss in the second quarter to $11.3 million, down from $37.3 million ...
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Nautilus cuts jobs following poor results
Just as in the first quarter, Nautilus ended the second one with a loss, as sales tumbled by 21.8 percent to $59 million, weighed down by the Direct segment. As a result, the company announced that it is reducing the workforce and other cost cuts that are expected to save ...
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Intersport International accelerates
Intersport International Corp. reports a currency-adjusted 2.3 percent increase in its global retail turnover to the equivalent of 5.5 billion Swiss francs (€5.0bn-$5.5bn) after VAT in the first half of this year, including a 3.1 percent sales increase in the second quarter. As previously reported, the group's biggest franchisee, Intersport Deutschland, ...
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Go Sport sells its Polish branch to Sportmaster
Rallye, the parent company of Groupe Go Sport, reported on July 25 that the French sporting goods retail group entered into exclusive negotiations on July 22 to sell its Polish retail stores to Sportmaster, the leading sporting goods retailer in Russia, following the receipt of a binding takeover offer. It ...
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A difficult year for Sports Direct
Sports Direct International's shares dropped sharply as investors worried about the strength of the group's core business following delayed and disappointing results for the full fiscal year ended April 28, compounded by new resignations.SDI's finance director, Jon Kempster, will leave in September after two years in the job to be ...
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Lower sales but higher margins for XXL
XXL ASA posted mixed results for the second quarter, with lower revenues but higher profit margins. As previously reported, the leading sports retailer in the Nordic countries is going through difficult times, admitting that it ended up losing money at the end of 2018 because of poor execution and overly ...
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Puma continues to gain market share
The Wild Cat keeps on running faster than its two biggest rivals. After growing by 15.3 percent in the first quarter of 2019, its sales leaped forward by 15.7 percent in local currencies during the second quarter, reaching a level of €1,227 million for the period. The growth was broad-based, ...
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Under Armour is weighed down by North America
Under Armour had a difficult second quarter, ending with a loss that was below analysts' consensus, sending the share price down by 15 percent. Its net loss narrowed to $17.3 million, against $95.5 million for the second quarter of 2018.The group's revenues inched up by 1 percent to $1,191 million, ...
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Skechers’ “global lens” approach pays off
Skechers posted another strong quarter, thanks to the ongoing impact of rapidly rising sales outside the U.S. After recording more than $1 billion in revenues both in the fourth quarter of 2018 and the first quarter of 2019, the company ended up again with record sales in the second quarter. ...
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BasicNet posts double-digit revenues and higher profits
BasicNet, the owner of Robe di Kappa, Superga, K-Way and other brands, closed the first half of 2019 with consolidated revenues up by 48.6 percent at current exchange rates, and up by 47.9 percent at constant exchange rates, to €137.8 million. Consolidated revenues were boosted by the addition of Sport ...
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Deckers narrows loss, sales up by 10%
Deckers Brands, the parent of Ugg and other footwear brands, managed to reduce its net losses significantly in its first fiscal quarter ended June 30, down to $19.3 million, as compared to $30.4 million for the year-ago quarter. Revenues climbed by 10.5 percent to $276.9 million, or by 11.6 percent ...
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VF raises its guidance after a good quarter
Thanks to a better-than-expected performance posted by Vans and The North Face, VF saw its reported revenues improve by 6 percent to $2,271 million for the fiscal first quarter ended on June 30. Adjusted to exclude the spin-off of its lower-margin Kontoor jeans business, the acquisition of Altra and Icebreaker, ...
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Record Q2 results for Columbia
Columbia Sportswear's net income rocketed by 137 percent to $23.0 million in the seasonally small second quarter ended June 30. One of the drivers was an exceptionally strong counter-seasonal business with Columbia's line of performance fishing gear, PFG, which is approaching an annual turnover of $200 million.The group's quarterly revenues ...
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Acushnet’s acquisition of Kjus makes sense
The sports equipment market had a pretty good year in 2018, particularly in the golf and winter sports sectors, as indicated in the previous article, but many companies involved in these two segments – such as Amer Sports, Callaway Golf and Rossignol – have lately sought some sort of diversification ...
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Shimano lowers its guidance
Shimano has lowered its full year outlook slightly after lower-than-expected sales and earnings for the six months to July 29. The company's net income declined by 10.6 percent from the year-ago period to 24,800 million yen (€204.7m-$228.4m) on 4.1 percent sales of ¥181,900 million (€1.5bn-$1.7bn).For the full year 2019, Shimano ...
