Latest Headlines – Page 73
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ArticleUK e-tail slows down post-pandemic
According to the most recent IMRG Capgemini Online Retail Index, the post-pandemic retail climate is, at last, taking shape. Online sales for the 200-odd retailers tracked by the index are down by 12 percent year-on-year for April. As IMRG puts it, this is a significant improvement from March’s year-on-year fall ...
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ArticleRussian import-replacement campaign faces difficulties
The Russian Industry and Trade Ministry has rolled out a 700 million rubles (€9.5m) program to support the import-replacement trend in the domestic sporting goods market. The authorities plan to encourage local companies to replace sportswear, sporting gear and athletic apparel, which are expected to be in short supply due ...
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ArticleAllbirds adopts more cautious FY22 outlook
Allbirds, citing logistics, currency effects, and lower international sales as significant year-over-year headwinds, is taking a more cautious view of FY22. The six-year-old company is forecasting annual sales of $335 to $345 million, 18 percent gross profit improvement to a range of $170 to $177.5 million and adjusted Ebitda of ...
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ArticleXponential Fitness signs multi-brand master franchise agreement for Mexico
Xponential Fitness, Inc., the world’s largest franchisor of boutique fitness brands headquartered in California, announced the signing of a master franchise agreement in Mexico for its StretchLab, Rumble and AKT brands. The agreement provides the master franchisee with the ability to license at least 60 studios of the three brands ...
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ArticleBeachbody with losses in Q1, but above forecasts
The Beachbody Company, a U.S.-based subscription health and wellness company, reported total revenue of $198.9 million for the first quarter ended March 31, down 12 percent from 2021 and down 6 percent from 2019. Digital revenue was $81.7 million, down 14 percent from 2021; digital subscriptions were 2.46 million, down ...
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ArticlePeloton Interactive working to get wheels aligned as losses mount
Peloton Interactive’s bumpy ride to a turnaround that includes generating positive free cash flow in financial year 2023 is underway, but many paths remain to be taken before any destination is reached. CEO Barry McCarthy, a former Netflix CFO, has been on the job for exactly three months, and he’s ...
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ArticleZalando launches a profit warning as sales decline for the first time
Zalando posted the first decline in quarterly sales in its history and launched a profit warning for the full year. In the first quarter, the German online retailer reported a 1 percent increase in the gross merchandise volume (GMV) to €3.2 billion but a 1.5 percent decline in revenues ...
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ArticleUnder Armour tempers 2023 growth on near-term challenges
Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022. The company started a new fiscal year, FY23, on April 1 ...
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ArticleEMEA paces Havaianas’ growth for Alpargatas
Alpargatas realized 17 percent currency-neutral growth for its rubber sandal brand outside of Brazil in the first quarter to 342 million Brazilian reais (€58.2m) as total pairs sold increased 11 percent to 8.9 million. The EMEA region led Havaianas’ sales gains internationally, rising 25 percent currency-neutral to R$207.9 million (€35.4m) ...
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ArticleAdidas steps into the void left by Nike at Foot Locker
Adidas and New York-based retailer Foot Locker have announced a new and enhanced partnership “built around product innovation, elevated experiences and deeper consumer connectivity,” as the German company states in a press release. The announcement comes on the back of Foot Locker’s sales figures released in March 2022, which reflected ...
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ArticleAcushnet sees supply chain constraints hamper results
Acushnet Holdings Corp. posted a 4.3 percent rise (+7.6 percent in constant currency) in consolidated first-quarter sales to $606.1 million against $580.9 million, but net profit dipped 4.6 percent to $81.0 million from $85.0 million. The operating margin declined 3.3 percent to 17.4 percent from 20.7 percent in the period ...
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ArticleGoPro swings to Q1 profit as DTC sales boost revenues
Action camera maker GoPro swung to a surprise first-quarter profit, boosted by strong revenues from its DTC channel, subscription services and increased prices. Total revenue was up 6 percent to $217 million, with DTC contributing $89 million, a rise of 8 percent for the channel. Subscribers grew 85 percent to ...
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ArticleCrocs Bolstered by higher ASPs, Heydude acquisition
After a strong start to 2022, Crocs, Inc. is eyeing approximately $3.5 million in total annual revenues as it continues marching its way to longer-term objectives of $5+ billion in annual sales for the Crocs brand by 2026 and $1+ billion in annual revenues for the recently acquired Heydude brand ...
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ArticleAdidas reins in FY expectations as Q1 sales dip, China struggles
Adidas cut its expectations for gross and operating margins for the full year and projected that sales and net profit would come in at the lower end of guidance after sales dipped in the first quarter and as it continues to struggle in China, where new Covid-19 lockdowns have worsened ...
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ArticleLast-minute chance: Become an exhibitor at OutDoor by ISPO
The Who’s Who of the outdoor industry will meet from June 12 to 14 in Munich at the MOC. Your company is not there yet? Then use your last-minute chance.
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ArticleMoncler posts 61% sales gain in Q1
Moncler generated sales of €589.9 million in the first quarter of 2022, up a reported 61 percent on the year earlier and a 60 percent increase at constant currency rates. In the three months ended March 30, 2022, sales at constant currencies were also 58 percent higher than in the ...
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ArticleVulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
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ArticleCrocs releases 2021 ESG report, ships first shoes made from partially bio-based material
U.S. footwear brand Crocs has released its 2021 environmental, social and governance (ESG) report, highlighting its efforts and plans to improve sustainability topics. As announced last year, the company plans to have become net zero and cut half of the emissions occurring during shoe production by 2030. Furthermore, Crocs wants ...
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ArticleRocky Brands posts strong Q1 sales, profits
Net income rose 61 percent to $7.34 million from $4.49 million for the period ended March 31, as total sales soared 90.5 percent to $167.03 million from $87.67 million. But the parent of the Durango and Xtratuf brands, among others, admittedly has work to be done cutting expenses and inventories ...
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ArticleNew Frasers CEO receives £21m up front
On May 1, Michael Murray, 32, accepted not only the reins of Frasers Group, becoming its new CEO, but also an up-front cash payment of about £21 million (€25m). The sum stems from Frasers’ deal with Murray’s firm, MM Prop Consultancy, which is entitled to as much as a quarter ...
