All Article articles – Page 133
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ArticleAdidas strikes a cautious note after a 3.4% sales hike in Q3
Adidas toned down its expectations for full-year sales and earnings as the company’s growth slowed in the third quarter due to supply chain disruptions, Covid-related lockdowns in Asia-Pacific and a “challenging” market environment in Greater China. In the quarter, Adidas saw its sales edge up by just 3.4 percent to ...
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Logistics problems lead Nautilus into a loss
Like with Peloton, but on a smaller scale, a partial shift in fitness activities from the home to the gym had an impact on the revenues of Nautilus for its second quarter, ended Sept. 30. Combined with shipping problems, which caused a shortage of $22 million in products that should ...
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Alpargatas sells Osklen to Dass to develop Havaianas more widely
Completing its reorganization, Alpargatas is divesting its 60 percent stake in Osklen, a Brazilian brand of sustainable surf- and skate-inspired clothing and footwear, to focus on Havaianas, the big international brand of rubber sandals. Alpargatas had already transferred its regional Mizuno license to Vulcabras, parent company of Olympikus, in the ...
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Callaway Golf raises guidance as all segments outperform
Callaway Golf raised its guidance for the full year once again, after revenues in the third quarter increased by 80.1 percent as compared to the year earlier to $856.5 million, continuing to benefit from the addition in March of Topgolf and a better-than-expected contribution to its top line from golf ...
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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 ...
