All articles by Bob McGee – Page 16
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ArticleColumbia faces revenue decline challenge
With a warm winter and a difficult US marketplace to contend with in its seasonally strong final quarter of the year, Columbia Sportswear reported a 27 percent drop in operating income to $113.1 million from $155.4 million and a 9 percent decline in total revenues to $1.06 billion from $1.17 ...
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ArticleChina's luxury demand boosts Canada Goose in Q3
Increased demand for luxury goods in China contributed to a reported 62 percent increase in Asia-Pacific sales at Canada Goose to C$270.7 million (€186.3m) for the third quarter ended Dec. 31. All other geographies posted double-digit declines in sales, including a 26 percent decline in the EMEA to C$86.8 million ...
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ArticlePuma shares decline on FY24 outlook
Shares in Puma SE declined by €4.49 to €38.49 yesterday, to their lowest level in more than five years, after the group issued a FY24 outlook below the consensus estimate and revealed preliminary FY23 results that were negatively impacted by the “extraordinary devaluation” of Argentine’s Peso in December. Nonetheless, ...
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ArticleAmer Sports looks to raise $1.8bn from IPO
Amer Sports, the parent of Arc’teryx, Salomon, Atomic, and Wilson, aims to sell 100 million shares for a listing on the New York Stock Exchange next week at an opening price of $16 to $18 per unit. The group, which will trade under the “AS” ticker, will float approximately 26 ...
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AnalysisAnalysis: 2023 Market Cap of global Sporting Goods stocks rising 2.4%
Which of the top 86 sporting goods companies performed best, and which lost ground in 2023? Get the figures.
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ArticleOn Holding plans further expansion, but no Tiger signing
Swiss company On Holding, which had a phenomenal 2023 in terms of sales and profitability growth, is promising to unleash a plethora of new products over the next 10 to 24 months and be a player at the Paris Games (including new uniforms for the Swiss National Team) this summer, ...
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ArticleWolverine Worldwide on expected FY course, update on transformation
Wolverine World Wide, Inc. provided an update on its preliminary, unaudited financial results for FY 2023 and its ongoing transformation efforts ahead of its presentation at the 2024 ICR Conference this week. “We’re executing the stabilization phase of our strategic transformation with tremendous pace while redesigning Wolverine Worldwide for the ...
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ArticleAmer’s Arc’teryx brand key to sales growth in China
Amer Sports, the Finnish parent of 11 brands, which filed for an initial public offering on the New York Stock Exchange on Jan. 4, has dramatically increased its sales in Greater China over the last four years largely through its Arc’teryx brand. The group’s total sales in the market increased ...
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AnalysisThe world’s biggest sports retailers
Our annual analysis of the world’s largest sports retailers has the revenue of 50 companies and ranks their growth compared with last year.
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ArticleNike eyes innovation, cost cuts to drive future results
Citing increased macroeconomic headwinds around the globe, particularly in the EMEA and Greater China, Nike is stepping up its strategic approach to innovation and numerous cost-cutting measures to improve its financial results in the coming quarters. That effort will include greater emphasis on product newness and opportunities to slash ...
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AnalysisAnalysis: The top sporting goods industry performers by sales and profits in Q3 2023
Aggregate net income is down in every sector except one, with two big names shaping overall revenue. Find out more with our latest scorecard.
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News briefsXtep purchases Wolverine’s stake in joint venture
Xtep Intl. is paying Wolverine Worldwide $61 million for its share of a joint venture that the two companies established in 2019 for the distribution of the Saucony and Merrell brands in Greater China, Hong Kong and Macau. Additionally, due to the early success and profitability of the Saucony brand ...
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News briefsLululemon exceeds Q3 estimates but guides to softer Q4 performance
Lululemon had another strong quarter with both revenues and profits exceeding analyst estimates, but the group’s simultaneous Q4 outlook of 13 to 14 percent sales expansion sent Lululemon shares down by 2.8 percent in after-market trading yesterday. The group, which said early holiday sales were strong, is projecting total Q4 ...
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ArticleFrasers confident in strategy despite short-term challenges for premium lifestyle biz
UK retailer Frasers Group, which maintains its ambition to become the top sports retailer across the EMEA, reported a 12.6 percent increase in adjusted profit before tax (APBT) to £303.8 million (€354.6m) in H1/FY24 and said sales momentum in the early weeks of H2 were being driven by its Sports ...
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ArticleZumiez braces for FY loss despite higher Blue Tomato sales
Zumiez is now forecasting a full-year net loss and annual sales to fall more than 8 percent after reporting a net loss of $2.23 million against a profit of $6.9 million in Q3 ended Oct. 28. The operating loss was $157,000 against $10.4 million as gross margin contracted 70 basis ...
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ArticleFoot Locker takes measures to reach two types of holiday shoppers
Saddled with a 10.5 percent year-over-year increase in inventory but also gaining some traction with customers seeking innovation and latest trend products, Foot Locker has taken strategic steps to reach both deal-seeking customers and others who want premium, on-trend items from key brands such as Nike, Puma, New Balance and ...
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ArticleAsics sets FY26 targets, eyes operating margin of 12 percent
Asics Corp. has raised its profitability and sales bars in a new three-year strategy unveiled this week. The Japanese company wants to achieve a 12 percent operating margin in 2026 on 7-10 percent sales CAGR over forecasted FY23 revenues of ¥570 billion (€3.51b). To achieve those objectives, the group says ...
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ArticleAlibaba’s founder mulls cutting stake
Jack Ma, founder of the Chinese e-commerce giant Alibaba, is weighing whether to sell 10 million shares in the company through his family’s trust and re-invest the proceeds in agriculture and public welfare projects. Ma disclosed his potential transaction in a regulatory filing on the same day that Alibaba reported ...
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ArticleStrong e-commerce sales bolster Björn Borg results
Björn Borg’s own e-commerce sales increased by 25 percent in Q3, with own comparable store revenues increasing by 16 percent but down 4 percent overall due to planned store closures. Within e-commerce, sports apparel sales grew by 58 percent year-over-year, bag sales rose by 59 percent, and footwear sales stepped ...
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ArticleFila Holdings’ results hurt by challenges in US, Korea
Fila Holdings’ constant-currency operating profit declined by 20.6 percent to KRW 92,563 million (€65.2m) for the period ended Sep. 30. Q3 net income slipped by 35.7 percent to KRW 57,743 million (€40.7m) with a KRW 98,906 million (€69.6m) profit at Acushnet, offsetting a quarterly net loss of KRW 6,343 million ...
