All Financial Results articles – Page 45
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ArticleHanesbrands’ activewear operating profit declines 30% on flat sales
Faced with an operating environment that is weighing on its near-term performance in both innerwear and activewear, Hanesbrands is taking numerous actions to revitalize an activewear segment that includes its Champion business. The company, anticipating “a challenging consumer environment” for a period of time, continues to reduce its SKU count, ...
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ArticleWolverine establishes new brand structure, sets bigger focus on profit
Shares in the Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent yesterday after the company missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent currency-neutral revenue growth ...
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ArticleMizuno makes gains on improving trends
Mizuno, citing a steady recovery in its soccer, baseball and racquet shoe businesses, growth in golf and positive change in Japan’s business climate, reported an 81 percent increase in second-quarter net income to ¥2.9 billion (€20.9m) from ¥1.6 billion for the second quarter ended Sept. 30. Operating profit rose by ...
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ArticleAllbirds Q3 losses widen, warns of “choppy” holiday trading
Sustainable footwear and clothing brand Allbirds has posted wider third-quarter losses and warned of “choppy” trading conditions in the run-up to Christmas. The company said net losses increased to $25.2 million from $13.8 million a year ago, and net loss margin increased to 35 percent from 22 percent. Operating losses ...
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ArticleAdidas slashes FY outlook again
Faced with a myriad of issues that need addressing in the coming financial year under the leadership of newly named CEO Bjørn Gulden, Adidas today cut its FY22 guidance for the third time since July 26. Three weeks after its last outlook adjustment on Oct. 20, the group today reduced ...
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ArticleDescente raises FY outlook
Descente, the Japanese sportswear company with a portfolio of sportswear brands that it markets primarily in Japan, South Korea and China, reported a net profit increase of 106 percent to ¥5,132 million (€37.0m) from ¥2,487 million for the six months ended Sept. 30. First half operating income improved 80 percent ...
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ArticleCoDi with record quarter, adds PrimaLoft to branded consumer segment
Net income from continuing operations in Compass Diversified’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) fell 25 percent to $15.3 million from $20.3 million for the period ended Sept. 30. Total sales from the five companies rose 16 ...
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News briefsTechnogym posts 14.4% sales growth, with 47.1% increase in North America
Technogym, the Italian specialist in fitness equipment, has seen revenues increase by 17.4 percent, or 14.2 percent at constant currency, to €498,7 million in the first nine months of 2022. Growth was driven by B2C, with segment revenues doubling compared to the pre-pandemic period. The B2B segment also posted strong ...
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ArticleZalando continues to grow in Q3
In the third quarter of 2022, Zalando’s net loss widened to €35.4 million from €8.4 million a year as capital expenditure grew to €77.0 million from €57.7 million. However, the German online fashion retailer resumed sales growth after a weak first half. In the third quarter, the gross merchandise volume ...
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ArticleAcushnet raises constant currency growth guidance but sees significant forex headwinds
Acushnet Holdings Corp. raised its full-year guidance for constant-currency sales growth to 9.0 percent to 10.2 percent from a previous range of 6.8 percent to 9.1 percent amid signs of resilience in demand for golf products but warned that it continues to face significant currency headwinds that will constrain reported ...
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ArticleGoPro grows subscription sales by 7 percent; Q3 results impacted by currency
Currency headwinds from a stronger U.S. dollar impacted GoPro’s total revenues and gross margin in the third quarter. Still, the company was able to increase its subscriber base and service revenue by 55 percent and 48 percent, respectively, to 2.1 million and $21 million during the period. Revenues declined ...
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ArticleTopgolf Callaway tees off with record third quarter; lifts guidance
Topgolf Callaway Brands has lifted annual guidance after a record third quarter and said it continues to see the Topgolf operation as a key driver of growth that will contribute half of the company’s Ebitda in the near future. Group net revenue for the three months to Sept. 30 was ...
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ArticleHavaianas’ growth in EMEA slows for Alpargatas
Alpargatas generated 5.4 percent (+21% currency neutral) sales growth to 132.0 million Brazilian reais (€32.5m) for its rubber sandal brand in the EMEA during the third quarter. Revenue per pair increased 4 percent in constant currency. Overall, Havaianas’ sales fell in all other geographic regions, although they increased by 36.5 ...
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ArticlePeloton Interactive’s turnaround remains a work in progress
Peloton Interactive, considerably slimmer following a recent headcount reduction of 500, continues navigating a new course of viability, delivery efficiency and overall profitability under CEO Barry McCarthy. Some progress has been made in recent months, but the company is admittedly not close to any celebratory victory laps or positive free ...
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ArticleCrocs raises guidance after another strong quarter
Strong third-quarter results at Crocs were negatively impacted on the gross margin line by inflationary expenses and higher freight and inventory handling costs, but 45 percent of the expenses are seen as transitory. Gross margin came in at 54.9 percent against 63.9 percent in the year-ago period ended Sept. 30. ...
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News briefseBay’s sales continue to decline
eBay has posted another revenue decline in Q3, which was marked by inflation and economic worries. In the quarter ended September 30, revenues fell five percent year-on-year to $2.4 billion. Adjusted income fell seven percent to $552 million. eBay has been struggling since the pandemic online order boom came to ...
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ArticleUnder Armour “more optimistic” about brand despite current headwinds
Under Armour has lowered its full-year revenue and operating income outlooks and continues to see short-term business climate hazards. Yet, company senior executives are confident that turnaround initiatives being undertaken over recent months will pay off in 2023 and beyond. The group has zeroed in on making the 16- to ...
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News briefsVulcabras continues gains from footwear portfolio
Vulcabras’ recurring net income rose 36 percent to 99.9 million Brazilian reais (€19.6m) from BRL 73.6 million for the period ended Sept. 30. Ebitda declined 4.8 percent to R$132.2 million (€25.9m) from R$138.9 million, as the gross margin improved to 37.7 percent from 36.1 percent. Net revenues were 24 percent ...
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ArticleGrupo SBF results affected by investments in vital systems
Grupo SBF, the operator of Brazil’s top sporting goods chain Centauro, suffered a 68 percent decline in adjusted Ebitda to 161,043,000 Brazilian reais (€31.5m) for the period ended Sept. 30. Gross margin, however, improved to 47.9 percent from 44.9 percent. Adjusted net profit, which excludes non-recurring expenses, declined 66 percent ...
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ArticleCanada Goose lowers FY outlook on China issues
Persistent lower traffic trends and dampened consumer sentiment in China have forced Canada Goose to lower its FY revenue and profit outlook despite strong brand sales performance in other global geographies. The group has dropped its annual revenue outlook by more than 7 percent to a range of C$1.2-1.3 billion ...
