Latest Headlines – Page 37
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ArticleCoDi maintains FY guidance as inventory headwinds persist
Net income from continuing operations in Compass Diversfied’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 68 percent to $6.94 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell ...
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ArticleVulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit Q2 gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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ArticleResearchers develop prototype stretchable lithium-ion battery for textiles
Researchers at the University of Houston (UH) have developed a fully stretchable fabric-based lithium-ion battery prototype. The idea for stretchable batteries originally occurred to Haleh Ardebili, professor of mechanical engineering at UH, several years ago. A science fiction fan, he imagined smart, interactive and powered clothes. “It seemed a natural ...
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ArticleU.S. growth in racquet sports translating to sales of softgoods
Growth in racquet sports as a practice seems to be spurring growth in related softgoods, or so believe several analysts at Circana, the analytics company that resulted from the merger (in March) of Information Resources (IRI) and The NPD Group (NPD). According to the company’s statistics, the U.S. market for ...
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ArticleColumbia dims FY outlook as Q2 net dips 17%
Bloated inventories and challenging market conditions in the USA are forcing Columbia Sportswear to take a “more conservative” stance on its H2 and full-year results despite explosive year-over-year Q2 sales growth in China and in its lower-margin international distributor businesses. Saddled with a 21 percent year-over-year increase in Q2 ...
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ArticleVF Corp. slashes FY revenue guidance, reports wider Q1 loss
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleCoats Group forecasts gradual demand improvement in H2
The U.K.-based maker of industrial yarns and structural components for footwear and apparel faced H1 headwinds due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million from $125 million for the six months ended June 30. Revenues fell by 11 percent ...
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ArticleAdidas extends contract with Manchester United, guarantees €1bn over 10 years
Source: Adidas The new 2023/24 away kit sees a return to the iconic vertical stripes that adorned the club’s first ever away shirts With Adidas extending its kit sponsorship deal with Manchester United by ten years, the contract runs until 2035 and guarantees the football team at ...
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ArticleKangaroo Protection Act introduced in U.S. Congress
The bipartisan bill introduced in the U.S. House of Representatives would ban the sale of kangaroo body parts in the U.S., including on footwear and apparel. Months ago, Puma and Nike announced they would halt further sourcing of kangaroo skins for their respective soccer boots. The Center for a Humane ...
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ArticleSkechers raises profit forecast as DTC and international shine in Q2
Skechers raised its guidance for earnings in the full year after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleFrasers scores double-digit FY23 revenue gains in all segments
U.K. retailer Frasers Group, bolstered by acquisitions and a strong performance from its core Sports Direct business, generated a 61 percent increase in annual operating profit to £531.8 million (€613.2m) for the 53 weeks ended April 30. Adjusted profit before tax rose by 41 percent to £478.1 million. FY gross ...
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ArticleMeta up in Q2 except in the metaverse
“We had a good quarter,” is CEO Mark Zuckerberg’s summation. “We continue to see strong engagement across our apps, and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall.” ...
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ArticleAdidas releases more existing Yeezy products in August, commits to combating discrimination and hate
Adidas announced on July 28 a further release of Yeezy inventory, with a range of existing products being available in phases throughout the month of August across the world. As previously communicated, the German company will donate a significant amount to selected organizations working to combat discrimination and hate, including ...
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ArticleSport 2000 Austria: Zentrasport initiates restructuring process
The association of the Austrian sports retailer community, Zentrasport Österreich e. Gen., is reporting that due to full warehouses as well as the payment default of one major retailer, the liquidity of the cooperative has been significantly strained and restructuring measures had to be initiated. Only Zentrasport Österreich itself is ...
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ArticleCrocs’ shares take hit as Heydude sales outlook tempered
Crocs Inc. generated more than $1 billion in Q2 revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on July 26 to surpass the $4 billion mark, but its share price plummeted more than 14 percent, nonetheless. By mid-afternoon, the company’s shares were on pace to ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in Q1/24 net income to $63.6 million versus 44.8 million for the three months ended June 30. Operating income was 26 percent higher year-over-year at $70.7 million. Total net sales ...
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ArticleEuropean ski industry stands strong amid challenges, sells 3.67m pairs of alpine skis in 22/23
The Federation of the European Sporting Goods Industry (FESI) has completed its annual market research on ski product sell-in data, providing a comprehensive assessment of the evolution of the European ski market following the Covid pandemic and the first winter season in the shadow of the war in Ukraine and ...
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ArticleMoncler Group’s H1 revenues surpass €1 billion for first time
Consolidated H1 revenues rose by 24 percent in both reported and constant currency for the Moncler Group to €1.14 billion from €918.4 million for the six months ended June 30. Moncler brand sales rose by 29 percent to €935.0 million and Stone Island sales increased by 4 percent on a ...
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ArticlePuma maintains full-year guidance despite challenging market as Q2 sales tick up 6%
Puma confirmed its guidance for the full year and hinted at a possible upgrade after sales in the second quarter rose by a reported 5.9 percent compared to the year earlier, or 11.1 percent in local currencies, to reach €2,121 million. It also indicated it would be able to adjust ...
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ArticleAuthentic Brands adds another footwear brand to its portfolio
Authentic Brands Group (ABG) has today confirmed its acquisition of footwear brand Rockport after speculation in June of this year that it was the “stalking horse” bidder for The Rockport Company. ABG announced that the United States Bankruptcy Court for the District of Delaware has approved the sale transaction of ...
