Financial insights for the sporting goods industry
We cover the latest financial results and stock market updates from the sports business
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ArticleAcushnet maintains H1 outlook despite slow Q1 start in some regions
The Titleist and FootJoy parent is maintaining its H1 outlook calling for a low-single-digit sales increase and year-over-year flat Ebitda despite a Q1 that was affected by a slow start to the golf season in some regions of the world. Operating income fell by 2.8 percent to $121.4 million from ...
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News briefsGildan has strategy to gain share in targeted markets
Canadian activewear company Gildan, already seeing signs of recovery in some markets outside of North America, intends to adopt a local approach with product, pricing and supply chain initiatives to regain and increase market share in targeted international markets. With inventory levels described as “a little light” in Europe, Gildan ...
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ArticleBrooks Running posts strong Q1 results
The Berkshire Hathaway subsidiary Brooks Running reported 9 percent revenue growth in Q1 ended March 31 to equal the highest quarterly results in the company’s history. Brooks’ results were achieved by significant gains in many segments of its business. Year-over-year global e-commerce sales increased by 22 percent, and the brand’s ...
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ArticlePeloton reports another loss, restructuring as CEO departs
Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation continues down a bumpy path. The connected fitness company has initiated another restructuring effort resulting in annualized savings of more than $200 million and more job cuts – its third round in 26 ...
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ArticleGarmin gains on positive results from all segments
Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin improved by 120 basis points to ...
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ArticleAdidas sees strong Q1 metrics, better-than-expected results
Buoyed by improved results in many aspects of its business, from inventory level to gross margin, Adidas reported better-than-expected Q1 results. It said it was encouraged by the market progress that it is making despite a volatile and “not easy” overall marketplace. Operating income was €336 million, up from ...
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ArticleAs wholesale recovers, Skechers raises 2024 sales and profit forecast
Skechers expects its sales to rise to between $8,725 million and $8,875 million in its 2024 financial year, up by 9 to 11 percent compared to the previous year, after wholesale sales posted a recovery in the first quarter and momentum continued in its DTC business. The guidance is up ...
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News briefsDiadora’s sales in 2023 amounted to €304m
Diadora’s sales totaled €304 million in 2023, during which the Italian brand terminated some commercial partnerships to focus on its core categories: running, tennis and soccer. Sales for the core categories were up by 16 percent compared with 2022, according to the daily Il Sole 24 Ore. The company achieved ...
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ArticleRussia’s Sportmaster posts a 2023 revenue hike
Russian sporting goods behemoth Sportmaster solidified its position as the country’s largest fashion retailer in 2023, thanks to a 14 percent hike in revenue to 160 billion rubles last year. Sportmaster generated nearly 70 percent more revenue than Kari and twice as much as Gloria Jeans; the companies ranked second ...
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News briefsLi Ning updates on Q1 performance
The Chinese group Li Ning reported a mid-single-digit decline in same-store sales for the period ended March 31. Retail channel comp sales were down by a low single-digit percentage, and wholesale channel sales fell by the mid-teens. Meanwhile, e-commerce virtual stores experienced year-over-year percentage growth in the low-20s. The ...
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News briefsChinese firms Stella and Xtep provide operational updates
Footwear manufacturer Stella International reported an 18.9 percent increase in consolidated Q1 revenues to $338.4 million from $284.6 million for the three months ended March 31. Shipping volume increased by nearly 22 percent year-over-year, led by the sports category, to 11.7 million pairs. However, the average selling price (ASP) of ...
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News briefsAnta Sports provides Q1 update
Chinese group Anta Sports, which sells the Anta, Fila, Descente and Kolon Sport brands, has updated its Q1 results. The company said Anta branded sales rose by a mid-single digit in the period that ended March 31. Q1 Fila brand sales increased by a high single digit. Meanwhile, year-over-year retail ...
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ArticleSuperdry unveils restructuring plans amid financial struggles
Superdry has revealed its restructuring proposals alongside plans for an equity raise and delisting from the stock exchange. The proposed restructuring primarily focuses on revamping its UK property estate and retail cost base to achieve a more financially sustainable operating model. CEO Julian Dunkerton emphasized the importance of these measures, ...
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News briefsAdidas lifts FY guidance, shares rise
Bolstered by better-than-expected Q1 results, Adidas increased its full-year guidance yesterday and saw its stock price increase by 2.7 percent in the US to close at $111.01. The group’s new outlook calls for an operating profit of about €700 million, up from €500 million prior, on mid- to high-single-digit revenue ...
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News briefsStruggling Footway sees sales halved after reconstruction
After concluding a more than six-month-long reconstruction process on Feb. 13, Footway, with twelve e-commerce platforms in its portfolio, has released its sales figures for the first quarter, covering January through March. The year started off on a challenging note, with sales more than halved. Revenue amounted to SEK102 million ...
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News briefs361 Degrees Intl. provides Q1 update
Chinese group 361 Degrees Intl. realized high-teens percentage growth for its core brand and a 20-25 percent comparable retail sales gain for its 361° Kids brand during the period ended March 31. Additionally, year-over-year e-commerce sales increased by 20-25 percent in Q1. 361° launched numerous e-commerce marketing initiatives during ...
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ArticleDecathlon’s global revenue surges by 4.4% to €15.6 billion
In 2023, Decathlon experienced significant developments across various fronts, reflecting its resilience amidst global challenges. CEO Barbara Martin Coppola acknowledged the company’s progress, emphasizing their focus on future sustainability: “We made strides in CO2 reduction while ensuring continued revenue growth.” Financially, Decathlon achieved a 4.4 percent increase in revenue, totaling ...
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News briefsAllbirds faces Nasdaq pressure to boost stock price
Allbirds is facing pressure to increase its share price after receiving a warning from Nasdaq regarding its stock performance. The sustainable footwear brand disclosed that its Class A common stock had consistently closed below $1 per share for 30 consecutive days, violating Nasdaq’s regulations. Allbirds now has six months to ...
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News briefsLevi Strauss’ Beyond Yoga posts double-digit growth in Q1
Levi’s yoga brand Beyond Yoga gained 11% in the first quarter ended Feb. 25, outpacing similar growth from a year ago, driven largely by strength in e-commerce and store expansion. Following the appointment of Athleta and Old Navy veteran Nancy Green as CEO in January, Levi Strauss & Co. plans ...
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News briefsDecathlon Germany sets new sales record in 2023
Despite a challenging environment, Decathlon Deutschland SE & Co. KG – the German subsidiary of the globally active French sporting goods retailer and manufacturer Decathlon SA – closed the 2023 financial year with another sales record. With total gross sales of €1.11 billion, Decathlon Germany, which now has 87 ...
