All Financial Results articles – Page 85
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News briefs
Yue Yuen produced less in Q1
Yue Yuen Industrial has warned investors that its results for the first quarter of 2020 will show a net loss of $50 million to $70 million, compared with a gain of $75 million in the year-ago period, because of the disruption of its supply chain and the lockdown of the ...
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Article
Callaway’s shares rise on longterm prospects
Callaway Golf Co. released preliminary results for the first quarter which pointed to a drop in revenues and earnings due the coronavirus, but it expressed optimism going forward for its golf equipment and outdoor clothing operations, leading the share price to jump by 17 percent.
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Article
Vista’s earnings to top guidance
In a business update, Vista Outdoor said that adjusted earnings for its fiscal fourth quarter will exceed its own guidance, adding that it has the support and financial flexibility required to navigate the Covid-19 pandemic. In addition to several brands from the fields of tactics and shooting sports, Vista’s portfolio ...
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ArticleAdidas fell by 19% in Q1, sees Q2 down by over 40%
The Adidas Group reported today a sharp drop in profit margins on a 19.2 percent decline in sales for the first quarter, due to the coronavirus outbreak, but warned that the second quarter will be worse. With more of its store base still closed right now, the management is expecting ...
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Article
Moncler suffers an 18% sales drop in Q1 due to Covid-19
Moncler, one of the public companies that have weathered the collapse of the stock exchange best, saw consolidated sales decrease by 18.1 percent at current exchange rates, or by 18.4 percent at constant exchange rates, in the first quarter to March 31 as compared to the first quarter a year ...
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News briefs
Stella’s Q1 revenues drop by 16%
In a business update for the first quarter, Stella International said it recorded a fall in manufacturing revenues and shipment volumes, due to the delayed resumption of production at its factories in China after the Lunar New Year owing to the coronavirus outbreak.The management also blamed seasonal orders pattern with ...
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Article
Skechers’ net falls by 55%
Skechers USA reported a drop of 54.9 percent to $49.1 million in its net earnings for the first quarter ended March 31 on 2.7 percent lower revenues of $1,242 million. In terms of local currencies, sales were down by 1.2 percent, with a small increase of 2.9 percent in the ...
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Article
Ecco enjoys another strong year
Ecco’s line of outdoor shoes proved very popular in 2019, driven by the Danish group’s focus on developing its retail portfolio to secure the right locations as consumer and traffic patterns change. During 2019, the store portfolio growth slowed to only six extra shops, with 200 openings and 194 closings. ...
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News briefs
Polygiene is trending up
Polygiene stabilized its business in 2019, with sales declining by just 0.3 percent to 68.8 million Swedish kronor (€6.34m-$6.82m), with cash flow improving and turning positive. Sales actually grew by 6.3 percent excluding the divested Protective Surfaces business, but the operating margin declined and the company ended up with a ...
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Article
Saucony, Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide fared relatively well in the first quarter ended on March 28 - given the challenging conditions caused by Covid-19 – thanks mainly to higher online sales and strong performance in Europe and by the Saucony brand.
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Article
VF lowers its outlook, refinances
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicates that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover.
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News briefs
Anta took some market share in Q1
Anta Sports Products was apparently less affected by the coronavirus outbreak during the first quarter in its home market than the big international brands, which previously reported declines of up to 80 percent in the country. In a preliminary statement, Anta, which operates mainly in China, indicated that retail sales ...
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News briefsMammut falls by 26.2% in Q1
The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted ...
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Article
Nautilus swims against the tide
In a difficult context due to the coronavirus pandemic, while many other sports equipment companies faced a grueling first quarter, Nautilus released strong preliminary figures. It posted sales for the first three months of the year that gained 11 percent to around $94 million. It was the first time that ...
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News briefs
Acushnet withdraws guidance
Acushnet said it is withdrawing its guidance for this year’s results, while drawing down $200 million under its revolving credit facility to cope with the impact of the coronavirus epidemic in Europe and North America. The company said that its sales in South Korea and Japan have started to recover ...
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Article
Strong European e-bikes sales take Giant to record highs
The Giant Group reported a 5.3 percent increase in revenues to a record 63,449 million New Taiwan dollars (€1.9bn-$2.1bn) in 2019, boosted by the rising popularity of e-bikes, especially in Europe, where sales gained about 13 percent to NT$ 18,667 million (€571.6m-$617.4m). Collectively, the Taiwanese bike manufacturer’s brands - Cadex, ...
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Article
Kathmandu’s sales jump by 52% on Rip Curl’s acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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Article
Yue Yuen posts mixed results
Yue Yuen Industrial Holdings, the world’s largest footwear producer, reported a 4.2 percent increase in sales to $10,105 million in 2019, driven by a double-digit increase in retail revenues. However, the Chinese company’s gross margin lost 0.3 percentage points, going down to 24.9 percent. and its net income fell by ...
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Article
Li Ning’s profits soar
Even though it faced a difficult comparison base due to a stellar year in 2018, Li Ning managed to more than double its net income in 2019 to 1,499 million yuan renminbi (€192.2m-$211.4m). The Chinese sports company’s annual sales jumped by 32 percent from the previous year to 13,870 million ...
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Article
Fila performs well in Europe
The Italian heritage sports brand’s momentum remained particularly strong in Europe during the fourth quarter of 2019, as Fila Korea’s licensing royalties from the region surged by 47 percent from the year-ago quarter to 39,200 million Korean won (€29.2m-$32.0m).
