Financial results
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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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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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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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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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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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ArticleDecathlon France raised revenues, focused on circularity in FY23
Decathlon France generated €4.752 billion (VAT and other taxes included) in full-year 2023, according to its year-end round-up. This represents a rise of 1.24 percent from 2022 and of 22.52 percent from 2019, the year before the lockdowns. France accounted for about a quarter of Decathlon’s worldwide sales, which, by ...
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ArticleAnta Sports’ FY23 operating profit rises 45 percent
Anta Sports, bolstered by double-digit sales gains for its Anta and Fila brands, a retail market recovery in China, and increases in both its wholesale and DTC businesses, reported a 45 percent improvement in annual profit attributable to shareholders at 10,954 million yuan renminbi (€1.4bn) for the 12 months ended ...
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ArticleLululemon posts strong Q4 results, some Q1 softness in US
Lululemon’s operating income increased by 191 percent in Q4 to $913.9 million from $314.4 million for the period ended Dec. 31. Final period net income came in at $669.5 million, and gross margins increased by 430 basis points year-over-year to 59.4 percent. Revenues rose by 16 percent to $3.2 billion ...
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ArticleGrupo SBF improves key metrics in FY23
Brazilian Grupo SBF realized improvement in net debt/Ebitda ratio, inventory level, and cash generation in FY23 as it reported adjusted net profit of 183.5 million Brazilian reais (€33.7m) on a 12 percent increase in revenues to R$8.78 billion (€1.61b) and a 40-basis point improvement in gross margin to 47.4 percent. ...
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ArticleXtep Intl. annual profit hits all-time high
The Chinese group Xtep Intl., which took 100 percent ownership in the Saucony and Merrell businesses in China earlier this year, generated 7.9 percent operating income growth in FY23 to 1,579.9 million yuan renminbi (€201.5m) on 10.9 percent annual revenue growth to RMB 14,345.5 million (€1.83bn). The annual gross margin ...
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ArticleLi Ning considers privatizing sportswear firm amid market challenges
Chinese entrepreneur and former Olympic champion Li Ning is reportedly contemplating the privatization of his sportswear firm listed on the Hong Kong stock exchange, according to sources familiar with the matter. The move would add to a series of similar potential deals amid a challenging market landscape. Li founded Li ...
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ArticleOn eyes greater reliance on DTC, apparel
Swiss company On Holding, in forecasting 2024 sales growth of at least 30 percent to 2.25 billion Swiss francs (€2.35bn), has established numerous priorities for its business in the year ahead. Among them: Capitalizing on the brand’s global momentum, building up its apparel business, expanding its own retail worldwide with ...
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ArticleMore losses at Allbirds
The nine-year-old San Francisco-based company Allbirds continues to face growing pains despite progress in shedding excess inventory last year. Now, its co-founder and CEO, Joey Zwillinger, has stepped down as the group moves forward with a strategy to turn around its overall business by 2025. The group suffered a $57.6 ...
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ArticleVulcabras delivers strong Q4, FY23 results
Quarterly and annual results at the Brazilian group Vulcabras group were driven by 13.1 percent sales growth within its athletic footwear division and 104 percent annual revenue expansion for its e-commerce segment to 279.8 million Brazilian reais (€51.6m). Fourth quarter Ebit fell by 1 percent to R$152.5 million (€28.1m) ...
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ArticleMoncler Group’s FY23 Ebit increases by 15 percent
In its 10th year as a public company, Moncler Group, the Milan-based luxury group generated 15 percent Ebit growth to €893.8 million from €774.5 million on a 15 percent consolidated revenue increase to €2.98 billion from €2.6 billion.
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ArticlePuma expects business headwinds to persist in H1 of 2024
Puma, citing ongoing geopolitical and macroeconomic headwinds and currency fluctuations to continue for at least H1 of 2024, is forecasting mid-single-digit, currency-adjusted sales growth this year and a corresponding operating profit of €620 million to €700 million this year. The predicted Ebit range represents flat to 12.7 percent year-over-year growth ...
