Bob McGee
Bob McGee is our expert for financial analysis and reports. If you want to know something about turnovers, growth rates or sales per employee Bob is your go-to guy.
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Canada Goose exceeds expectations in Q4 due to DTC, North America
Canada Goose, which recently hired its first creative director to reshape its product portfolio and elevate its creative aesthetic, reported a 31 percent improvement in Q4 operating income to C$7.6 million (€5.1m) against a C$10.0 million loss in the year-ago period. Net income attributable to shareholders was C$5.0 million. Gross ...
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Grupo SBF’s Ebitda up 14 percent in Q1
Grupo SBF continues to make progress on key financial metrics, ranging from further inventory reductions to cost cuts, helping to reduce its year-over-year leverage by 39 percent to 843.4 million Brazilian reais (€151.6m).
- News briefs
Fila Holdings reports flat Q1 net
Fila Holdings’ constant currency net income increased by 0.1 percent to 123,330 million Korean won (€84.1m) against KRW 118,257 million for the period ended March 31. The Q1 operating profit declined by 2.6 percent on a constant currency basis to KRW 163,259 million (€111.3m) compared to KRW 160,379 million. The ...
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Under Armour’s latest reset will take many months to unfold
Six weeks after returning as CEO to the company he founded, Kevin Plank will lead a restructuring at Under Armour that will focus on a premium positioning of fewer products, less promotional pricing, a greater focus on its core men’s apparel business and an accelerated bring-to-market strategy for new offerings. ...
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Alpargatas maps out new business strategy, turns Q1 profit
Alpargatas spent much of Q1 working on cash generation, capitalizing on efficiencies, and simplifying its business. The effort, largely focused on its home market, included better alignment between sell-in and sell-out levels and cash generation of $260 million Brazilian reais (€46.7m) versus cash consumption of R$271 million.
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On posts another strong quarter, re-affirms FY24 objectives
The Swiss group generated 29 percent constant-currency sales growth in Q1 to surpass the CHF 500 million mark for the first time ever over three months, bolstered by a 49 percent gain in its Dtc segment and double-digit increases in shoes, apparel and accessories.
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Descente FY net rises by 14 percent, sales up 5 percent
The Japanese group reported a 14 percent increase in annual net profit to ¥12,014 million (€71.6m), exceeding guidance by 9.2 percent, and a 12 percent rise in operating income to ¥8,740 million (€58.0m) for the 12 months ended March 31. Gross margin improved by 210 basis points to 59.5 percent, ...
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Mizuno FY results exceed forecasts
The Japanese group reported a 33.5 percent increase in annual operating profit to ¥17,279 million (€102.7m) and a 44 percent year-over-year gain in profit to ¥14,311 million (€85.1m). Both figures exceeded the company’s guidance for the 12 months ended March 31.
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Yue Yuen sees ‘gradual recovery trend’ as Q1 net soars
Profit attributable to owners of the Chinese group Yue Yuen increased by 97 percent to $100.0 million from $50.8 million for the period ended March 31. Ebit rose by 82 percent to $145.1 million from $79.7 million despite a 4.9 percent decline in total revenues to $2.0 billion from $2.1 ...
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Asics’ Q1 operating income jumps by 53 percent, maintains FY outlook
Bolstered by double-digit operating profits for all five product segments, Asics Corp. reported a 53 percent increase in Q1 operating profit to ¥33,812 million (€202.0m) and a 14 percent improvement in net sales to ¥174,102 million (€1.04bn) for the period ended March 31. Net income attributable to the parent rose ...
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Hanesbrands still weighing options for Champion
Senior Hanesbrands’ executives remain mum on whether the company will retain or eventually divest the Champion business. Still, they confirm the brand will likely reach its low-water sales point in Q2. The completion of an inventory clean-up and a return of the brand’s largely seasonal collegiate business should brighten Champion’s ...
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Allbirds reduces Q1 loss, confirms FY guidance
With the group’s transformation strategy in progress, Allbirds dropped its Q1 operating loss by 16 percent to $29.8 million from $35.7 million despite a 28 percent decline in sales to $39.3 million from $54.4 million. Lower overall demand and impact from retail store closures and international distributor changes contributed to ...
- News briefs
Higher domestic sneaker sales spark Vulcabras in Q1
Brazilian group Vulcabras received a 5.8 percent overall revenue lift to 597.3 million Brazilian reais (€109.4m) in Q1 thanks to a 7.4 percent increase in athletic footwear sales to R$495.4 million (€90.7m) as total pairage stepped up 4.7 percent to 4.2 million pairs.
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Puma sees improving trends ahead, maintains FY24 outlook
Puma, now that its most “challenging” quarter of the year is over, is forecasting sequentially improving trends for the remainder of 2024. Stronger sales growth is projected in H2 as the commercialization of developing product trends and impact of the company’s accelerated brand elevation strategy take hold.
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Acushnet 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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Gildan 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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Brooks 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.
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Peloton 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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Garmin 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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Adidas 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.