Financial insights for the sporting goods industry – Page 4
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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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News briefsA pivotal year for Fútbol Emotion
Fútbol Emotion might achieve the record €85 million in annual sales that it forecast at the close of the first quarter of this year. However, its latest forecast hedges the bet, shaving off €1 to €2 million – all of this according to CMDsport. Even €83 million, though, would amount ...
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News briefsChina Dongxiang results impaired by investments
China Dongxiang, which distributes the Kappa brand in Greater China and has been a publicly traded company since 2007, reported a net loss of 410 million yuan renminbi (€52.7m) for the six months ended Sep. 30. Excluding its investment segment, operating profit was RMB 75 million (€9.6m). Year-over-year revenues were ...
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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 ...
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News briefsBowflex reports improved results despite soft sales
The Q2 operating loss at Bowflex, the former Nautilus, was 22 percent less than the year-ago quarter at $11.2 million versus a loss of $14.3 million for the period ended Sep. 30. The loss from continuing operations, meanwhile, shrunk by 18.0 percent to $12.5 million from $15.3 million. Gross margin ...
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ArticleWorld’s top pádel retailer optimistic despite glut
360° Padel Group has reduced its current year revenue forecast to €62 million, according to CMDsport, as the industry-wide inventory glut has sparked a margin-narrowing price war. However, by the end of 2023, it hopes to be operating more than 500 physical stores between its Pádel Nuestro and Pádel Nuestro ...
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News briefsNike announces 9% increase in quarterly dividend
Nike, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.370 per share on the company’s outstanding Class A and Class B Common Stock. This represents an increase of 9 percent versus the prior quarterly dividend rate of $0.340 per share. The dividend declared today is ...
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ArticleOn Holding maintains lofty objectives despite moderating wholesale revenues
The Swiss company On Holding, which intends to double its net sales by 2026, increase its gross profit margin to above 60 percent and push its adjusted Ebitda above 18 percent, is only forecasting high-single-digit wholesale growth in Q4 2023. Direct-to-consumer sales (DTC), meanwhile, are expected to continue their torrid ...
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ArticleLower costs, inventory benefit Grupo SBF in Q3
Grupo SBF, which operates Brazil’s top sporting goods chain in Centauro, received a lift from lower expenses, growth within its digital channel, and lower inventory levels in Q3 ended Sep. 30. The group reported a 216 percent increase in year-over-year operating income to 168.6 million Brazilian reais (€32.1m) as net ...
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ArticleBelow-average order fill rates continue to impact Yue Yuen
Profit attributable to Yue Yuen shareholders fell by 49 percent to $137.7 million from $270.1 million for the nine months ended Sept. 30, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by 38 percent ...
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News briefsPou Sheng nine-month results aided by stronger foot traffic
Operating profit at Pou Sheng, the retail subsidiary of Yue Yuen, increased by 51 percent to 515.7 million renminbi (€66.3m) for the nine months ended Sept. 30. Profit attributable to owners of the company rose by 224 percent to RMB 311.4 million (€39.9m) as retail foot traffic improved and the ...
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News briefsYonex H1 profit slips despite higher sales
Profit attributable to owners of the Japanese company fell by 21.4 percent to ¥4.4 billion (€27.1m) for the six months ended Sept. 30. H1 operating income also declined by 21 percent to ¥5.6 billion (€34.7m) despite a 15.2 percent year-over-year improvement in net sales to ¥57.7 billion (€356.5m). Yonex is ...
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ArticleDescente’s operating profit dips due to absence of one-time gain
Descente, without the benefit of a one-time gain it had in Q1, realized a 15.2 percent decline in operating profit to ¥4.15 billion (€25.6m) despite a 4.9 percent increase in revenues to ¥60.0 billion (€370.5m) for the three months ended Sep. 30. Sales of athleticwear improved in the period, but ...
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ArticleAsics lifts FY outlook again as 9-month grows by 73%
Asics Corp. has raised its annual outlook three months after suggesting its financial year sales will likely reach a record high. The Japanese group is now forecasting annual revenues at ¥570.0 billion (€3.53bn), up 3.6 percent from an early August estimate, and FY operating profit of ¥52.0 billion (€321.8m), up ...
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ArticleWolverine Worldwide lowers outlook as overhaul moves forward
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income slid ...
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News briefsMizuno sees sales gains in all geographies, regions
Operating profit rose 14.2 percent to 9.3 billion Japanese yen (€57.7m) for the six months ended Sept. 30 at Mizuno. Net income expanded 21.0 percent to ¥7.8 billion (€48.4m) as total revenues grew by 15.4 percent to ¥114.5 million (€710.4m). Year-over-year gross margin improved by 90 basis points to 40.6 ...
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News briefsHanesBrands’ activewear operating profit slips by 54 percent in Q3
Operating profit for HanesBrands’ Activewear segment fell 54 percent to $24,853,000 from $53,491,000 for the period ended Sep. 30. Activewear sales tumbled 17 percent to $383,600,000 from $461,043,000 as the segment experienced declines across most channels and brands that were driven by ongoing category headwinds, soft consumer demand and excess ...
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News briefsAllbirds’ turnaround plan remains bumpy
Citing a negative impact on revenues due to its transition to a direct selling model in both Canada and South Korea, Allbirds now expects its annual revenues to sink by 15 to 22 percent to a range of $66 to 72 million. The annual adjusted Ebitda loss is now pegged ...
