Latest Headlines – Page 89
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Black Diamond’s 20% gains helps Clarus to book higher Q3 sales
Clarus Corp. reported a jump in net earnings on an adjusted basis of 97 percent to $4.53 million in the third quarter ended Sept. 30, as sales grew by 69 percent to a record $109.0 million, with a 67 percent gain in constant currencies. On a pro forma basis, including ...
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ArticleShortages reduced Giant’s growth to 2.5% in Q3
With strong ongoing global demand for bicycles and e-bikes, Giant Manufacturing reported that its production facilities are fully loaded with orders. However, a lack of components affected the production in the third quarter, leading to an increase in consolidated sales of only 2.5 percent to 19.95 billion Taiwan dollars (€619.0m-$715.0m) ...
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Despite the fifth Covid wave in Japan, Descente grew in Q2
Descente reported a rise in second-quarter sales of 16.4 percent to 49,926 million yen (€381m-$440m) despite a “challenging” period from late August to September when the fifth wave of Covid-19 hit Japan. All of the company’s main five brands for which it has the rights in Japan or other territories ...
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Canada Goose improves its guidance, citing momentum
Canada Goose reported an improved gross margin and a lower operating margin on a 19.6 percent increase in revenues to 232.9 million Canadian dollars (€161.9m-$187.1m) for its second quarter ended Sept. 26. Excluding the exceptional revenues from personal protective equipment recorded in the same period a year ago, comparable sales ...
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Peloton cuts its sales guidance by $1 bn
Peloton Interactive lost more than one-fourth of its value on the stock exchange as the company slashed its sales guidance for the full financial year by up to $1 billion, predicting that revenues will range from $4.4 billion to $4.8 billion. Analysts were budgeting sales of $5.4 billion for the ...
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ArticleAsics’ growth softened in Q3
Asics recorded solid growth in sales and operating income in the nine months ending September 30, as the strong showing of its Performance Running business in North America, Europe and Greater China and cost-cutting efforts more than offset the continuing effects of Covid-19. For the third quarter alone, Asics reported ...
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Sports & Leisure pull New Wave forward
The Swedish-based New Wave Group, which owns or distributes brands such as Craft, Cutter & Buck, Ahead, Orrefors and Speedo, reported record third-quarter profits as sales closed in on pre-pandemic levels, driven by a recovery in the Nordic countries and the U.S. The group’s Sports & Leisure division saw sales ...
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ArticleOn to make running shoes from carbon waste
On, the Swiss brand of running shoes that recently went publicin New York, has announced a shift away from petroleum-based resources with the development of a new foam material called CleanCloud™. It is made from carbon emissions as a raw material. On is the first company in the footwear industry ...
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ArticleGoPro's Christmas sales won’t be hit by supply crisis after a good quarter
Indicating that it does not expect Christmas sales to be hit by supply-chain constraints, GoPro reported better-than-expected third-quarter results. The company posted a net profit of $311.8 million for the period, up from $3.3 million a year ago. Revenues grew by 13 percent to $317 million against GoPro’s own estimates ...
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ArticleAcushnet raises forecasts for 2021
Acushnet Holdings Corp, the U.S.-based group behind the golf brands Titleist, FootJoy and Pinnacle and the Swiss sports apparel brand Kjus, reported an 8.0 percent increase in consolidated sales to $521.6 million in the third quarter ended Sept. 30, scoring better than what analysts had expected. On a constant-currency basis, ...
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ArticleChampion grew strongly in Q3
Hanesbrands reported increases in its global sales of Champion products of 20 percent in absolute terms and 33 percent excluding discontinued operations such as the C9 mass market program in the U.S., during the third quarter ended Oct. 2, with balanced performances between the U.S. and the rest of the ...
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ArticleUK anti-trust authority again blocks the JD Sports-Footasylum merger
The U.K.Competition and Markets Authority (CMA) issued a new verdict on Nov. 4 confirming its conclusion that JD Sports Fashion must divest Footasylum, the chain of sports fashion stores that it bought in May 2019, as it has resulted, or may be expected to result, in “a substantial lessening of ...
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ArticleExpanded: Allbirds doubles its valuation as it goes public
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...
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ArticleZalando’s Q3 profits slump in price-cutting war, but guidance is upgraded
Zalando reported a slump in third-quarter profits after cutting prices in response to promotions made at physical stores after Covid lockdowns were completely lifted in Germany and other key markets. While sales rose by 23 percent to €2.3 billion as compared to a year ago, adjusted operating earnings (Ebit) for ...
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ArticleNice Footwear is valued up to €16.5m in IPO
Nice Footwear, an Italian company specializing in the production and sourcing of sneakers, is being listed on the Euronex Growth market in Milan. The company set a price range of €9.00-€11.00 per share, valuing the company at between €13.5 million and €16.5 million, representing 4.87 to 5.95 times last year’s ...
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ArticleUA upgrades guidance after a good Q3
Under Armour upgraded its guidance while posting better-than-expected results for the third quarter ended Sept. 30, leading to a jump of more than 18 percent in its stock price, close to its 52-week record of $26.45. The company’s net earnings soared to $113.4 million, more than twice the analysts’ consensus ...
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ArticlePentland Brands makes new CSR commitments
Coinciding with the start of the COP26 conference on the climate in Glasgow, Pentland Brands released a set of new commitments to support people and the planet for the year 2032, when it will be celebrating the 100th anniversary of its business. The company’s “100-1-0” positive business strategy sets out ...
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ArticleSkechers sees 19% sales gain in Q3, but supply chain woes will stretch into 2022
Skechers saw revenues in the third quarter ended Sept. 30 rise by 19.2 percent to a record $1,551 million, an achievement that the company described as “remarkable” amid supply chain bottlenecks that have constrained sales growth and are seen extending into 2022. At constant currency rates, sales rose by 17.1 ...
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ArticleDeckers’ Q2 sales grow by 16% on Hoka's gains, but margins are squeezed
Deckers Brands saw revenues increase by 15.8 percent to $721.9 million in its second quarter ended Sept. 30, led by the continued strong performance of its Hoka brand, but delays in deliveries capped top line growth at Ugg. On a constant-currency basis, revenues increased by 14.8 percent, but net earnings ...
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ArticleBasicNet reports improved results
BasicNet said its Ebitda for the third quarter ended Sept. 30 was 23.7 percent higher than in the same period of a year ago and 6.3 percent higher than in the third quarter of 2019. Without providing a quarterly breakdown for other key indicators, the Italian-based parent company of Kappa, ...
