Latest Headlines – Page 35
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ArticlePeloton Interactive takes steps to accelerate reach; Q4 loss shrinks
Roadblocks, namely costs associated with a bike seat recall and a separate legal settlement, detracted from Peloton Interactive’s financial recovery in Q4 under CEO Barry McCarthy. But the company is continuing to implement new initiatives aimed at sales and profitability growth and attracting a wider base of younger, fitness-focused consumers ...
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ArticleXtep Intl. nets H1 profit from Saucony business
Xtep Intl., the publicly traded Chinese company, whose business models consists of its own label for the nation’s mass market and four western brands (K-Swiss and Palladium, globally, and joint ventures for Merrell and Saucony in Mainland China) targeting the premium market, reported a 12.7 percent increase in H1 profitability ...
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ArticleAnta Sports gets H1 sales lift from all segments, brands
Anta Sports Products Ltd. achieved a 32 percent increase in H1 operating profit to 7,623 million yuan renminbi (€1.02bn) for the six months ended June 30. Gross margin improved by 130 basis points to 63.3 percent from 62.0 percent, while profit attributable to shareholders increased by 40 percent to RMB ...
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ArticleSuper Retail Group annual sales increase by 7 percent
Australian Super Retail Group, which owns Rebel Sport, BCF and Macpac, reported a 12 percent gain in annual profit before tax to A$391 million (€251.5m) for the 12 months ended July 1 as yearly revenues rose 7 percent to A$3.8 billion (€2.4b). The consolidated results also include those from the ...
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ArticleEverysport Group sells media portfolio worth €3.8m
Stockholm-based Everysport Group AB, divided into the Everysport Media and Every Padel businesses, has reached an agreement with Better Collective A/S to divest a portfolio consisting of the brands and media sites SvenskaFans (Sweden’s largest online sports fan community with over 750 active contributors), Hockeysverige (the largest ice hockey news ...
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ArticleCosmetics company Coty renews long-term licensing partnership with Adidas
Coty Inc. announced that it has renewed its long-term licensing agreement with Adidas. Founded in Paris in 1904 and now headquartered in the Big Apple and traded on the New York Stock Exchange, Coty is one of the world’s largest cosmetics companies with a portfolio of iconic brands in fragrance, ...
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ArticleAtomic hosts first Ski Industry Climate Summit to address climate change impacts
The Austrian ski company Atomic is hosting the first Ski Industry Climate Summit, a two-day international conference aimed at bringing together key stakeholders and driving effective change to address the urgent need for climate action. The event, supported by FESI (Federation of the European Sporting Goods Industry) and Protect Our ...
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ArticleBjörn Borg reports strong growth in e-commerce
While Björn Borg’s consolidated net sales were 165.6 million Swedish kronor (€13.9m) in Q2 2023 compared to SEK 161.5 million (€13.5m) in the same period last year (+3 percent), net sales decreased by 2 percent in constant currency, which can be explained by lower sales in stores due to store ...
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ArticleKYX is back – as a platform for secondhand sneakers
Rising from the ashes of the sneaker subscription platform KYX World, which disappeared at the end of 2022, KYX Sneakers has reinvented itself as a platform for the resale of secondhand sneakers. The platform is launching with over 2,000 used sneakers priced between $50 and $2,000 a pair. KYX Sneakers ...
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ArticleFarfetch reports Q2 loss, small revenue drop
Farfetch Limited reported an adjusted Ebitda loss of $30.6 million and a 1.3 percent drop in revenues to $572.1 million for Q2 ended June 30. The net loss at the internet platform for luxury goods was $281.3 million against a profit of $67.7 million. Gross merchandise value (GMV) inched 1.2 ...
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ArticleThree running brands take top spots in StockX sneaker trades so far this year
Resale platform StockX has released its latest trend report, Big Facts: Brands Making Moves, identifying the fastest-growing brands across its sneakers, shoes, apparel, accessories, and collectibles categories. A total of 25 brands, including several big sporting goods names, made the rankings, which compare global trade data from January through July ...
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ArticleFila Holdings’ woes impacted largely by US market
Faced with the ongoing process of liquidating bloated inventories in the U.S. amid a market flush with excess inventory, Fila Holdings reported a 40 percent constant-currency decline in Q2 operating income to KRW 91,943 million (€64.4m) for the period ended June 30. Gross margin fell by 160 basis points to ...
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ArticleOn Holding’s Q2 operating income up 50 percent, but stock price falls
On Holding shares fell 14 percent, or $4.84, on the New York Stock Exchange yesterday to $29.77, after the company reported a 50 percent increase in quarterly operating income to 39.4 million Swiss francs (€41.1m) and raised its full-year revenue guidance to at least CHF 1.76 billion (€1.83b), including anticipated ...
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ArticleCurrency and costs weigh on Yonex’s Q1 results
Higher sponsorship and athlete contract expenses coupled with currency headwinds and a depreciation of the Japanese yen dragged down Yonex’s Q1 operating income, despite an 18 percent revenue growth, to ¥27,992 million (€187.5m) from ¥23,694 million for the three months ended June 30. Operating income slipped by 19 percent to ...
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ArticleDescente’s Q2 rises by 36 percent
Descente, benefitting from the consolidation of its Arena and Le Coq Sportif businesses in China and the equivalent of €17.6 million in non-operating income, reported improved sales and profits in Q2. Total revenues increased by 2.8 percent to ¥27,162 million (€181.9m) from ¥26,425 million for the period ended June 30. ...
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ArticleGrendene exports slip by 51 percent in Q2
The Brazilian footwear maker Grendene posted a 15 percent decline in Q2 net income to 57.2 million Brazilian reais (€10.6m) from R$65.7 million for the period ended June 30. Ebitda was off by 13 percent to R$24.3 million but gross margin improved by 670 basis points to 40.9 percent from ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 from $175,049,000 for the six months ended June 30, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000 from $223,948,000. The company cited a sluggish global macroeconomic environment and ...
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ArticleVista Outdoor unveils rebranded Sporting Products segment ahead of separation
Following the separation of its Outdoor Products and Sporting Products segments into two new, independent publicly traded companies, Vista Outdoor is to be rebranded. The new name, logo and NYSE ticker of the Sporting Products segment were unveiled on Aug. 10, in an employee town hall in Lewiston, Idaho.
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ArticleChampion drags down Hanesbrands in Q2
Hanesbrands senior management described Champion’s European business as “holding ground” in a tough market with a challenged consumer, with Footwear performing well. However global sales are down and the company has announced measures to move forward the purpose of the brand and revised its FY23 outlook. Champion under pressure in ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was yesterday named the President and CEO of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and ...
