News and insights about brands in the sporting goods industry – Page 88
-
Article
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 ...
-
News briefs
Supply chain issues dampen Brooks’ growth
The global growth of Brooks Running softened to an annual clip of 24 percent in the third quarter, as pandemic-related supply chain problems began to affect its ability to meet consumer demand, reducing its sales in September. It had grown faster in the first half, as its total sales for ...
-
Article
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 ...
-
News briefs
Burton releases an Ak snowboarding apparel line with Gore-Tex
Burton’s new snowboarding apparel incorporates Gore-Tex fabrics and is named after the postal abbreviation for Alaska. The Ak line has received Bluesign approval and purports to combine waterproofing and breathability with style. The first items are the Ak 457 Gore JP Jacket and JP Bib, made with a three-layer 70D ...
-
News briefs
Czech brand releases reusable, Polygiene-treated mask
The Czech brand Är has released an FFP2-certified mask that incorporates Polygiene’s ViralOff treatment, which purports to eliminate more than over percent of microbes from textiles. Unlike surgical masks, FFP2 masks filter air that comes in and air that goes out. They also therefore meet the criteria that various countries ...
-
News briefs
Allbirds’ IPO proceeds rise to $348 million
The underwriters of Allbirds’ public offering fully exercised an over-allotment option to purchase additional shares, which was not surprising in view of the doubling in the initially offered price of $15 a share in the course of trading. All in all, Allbirds has placed a total of 16,850,799 shares, raising ...
-
News briefs
No immediate plans for Gymshark’s IPO
Indicating that Gymshark’s sales almost doubled to £400 million (€470m-$543m) in the 12 months ended in July, Ben Francis, the young co-founder and CEO of the nine-year-old British fitness apparel company, tells The Financial Times that there are no immediate plans for it to go public. He confirmed that he ...
-
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) ...
-
Article
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 ...
-
News briefs
JD Sports premieres a special Xmas ad
JD Sports premiered a Christmas ad – since posted to YouTube – on Nov. 6 during the airing of the Manchester derby on Sky Sports, where Manchester City beat Manchester United 2 to 0. In it, a young man walks down a downtown street – where all the shop names ...
-
News briefsCrocs to provide resale-as-a-service with ThredUp
Crocs is launching a resale program with ThredUp’s Resale-as-a-Service (RaaS) platform. Adidas did the same about a month ago, as we reported at the time, and called its program “Choose to Give Back.” Crocs’ program is called “Clean Out” and is likewise intended to help the brand achieve net-zero carbon ...
-
News briefs
Some more details on Asics’ Q3 results
For the third quarter, Asics reported in its financial highlights a net profit of 6,723 million yen (€51.3m-$59.3m), up sharply from ¥2,858 million a year earlier. However, sales increased by only 11.2 percent to ¥112.7 billion yen (€860m-$990m) from 101.3 billion as compared to the same period of 2020, and ...
-
Article
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 ...
-
Article
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 ...
-
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 ...
-
Article
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 ...
-
News briefsPuma opens new North American HQ
Puma has inaugurated new headquarters for North America. Located at Assembly Row in the Boston suburb of Somerville, the 150,000-square-foot office combines the staffs – about 450 employees – from two offices in Boston proper and Westford. It was designed by the architectural firm Gensler and built by Timberline Construction. ...
-
News briefsDorel Sports' Q3 revenues slip as supply-chain constraints bite
Dorel Industries said third-quarter revenue at its Dorel Sports segment fell slightly on supply-chain disruption and parts shortages, leading it to lower fourth-quarter expectations for the group as a whole. The company, which last month agreed to sell Dorel Sports to Pon Group for $810 million, said the segment’s revenues ...
-
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 ...
-
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 ...
