Analysis on the brand’s and retailer’s financial performance in the sporting goods industry including annual and quarterly updates, regional break-down, channel and segment growth.
Net profit was down nearly 25 percent at $83.5 million, and gross profit slipped by 220 basis points to 22.9 percent from 25.1 percent in the year-ago period.
Net income attributable to the parent of Victoria and Golf Partner declined by 62.5 percent year-over-year.
FY net income was 7.7 percent higher year-over-year to ¥10,591 million (€64.8m) as gross margin improved by 60 basis points to 44.9 percent.
The Havaianas parent posted a 93 percent improvement in Q1 Ebitda year over year to 207.3 million Brazilian reais (€32.3m).
The US performance footwear group regained profitability in Q1, led by strong sales from its trail and running brands despite tariff-related uncertainty.
On a constant currency basis, sales increased by 1.4 percent.
Net revenue decreased 18.3 percent to $32.1 million due to planned retail store closures and international distributor transitions.