Financial Results – Page 5
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News briefsNew Wave nets 5% gain in FY23 operating profit
Annual operating profit for Swedish New Wave Group, whose business operates in three segments, increased by 5 percent to 1,577.2 million Swedish kroner (€140.4m) for the 12 months ended Dec. 31 as total revenues inched up by 2 percent to SEK 3,874.6 million (€344.9m) from SEK 3,782.3 million. In Q4, ...
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ArticleCrocs brand kicks off 2024 with momentum, $5 billion sales target not until later
The Crocs brand has started 2024 “with momentum” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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ArticleHanesBrands plots next moves for Champion business
Stephen Bratspies, CEO of HanesBrands, hinted about strategic alternatives for the company’s flagging Champion business but offered few specifics when speaking to analysts during the apparel company’s year-end conference call. “[…] the process is progressing as expected,” Bratspies commented, adding, “We continue to evaluate the right path forward as ...
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News briefsSportChek comparable sales fall in Q4, FY
SportChek, the Canadian Tire-owned retail chain, which ended 2023 with 371 stores, suffered a 6.4 percent decline in comparable store sales in the final period, because of lower sales of outerwear, skis and snowboards. Its total sales declined by 13.5 percent in Q4 to C$552.2 million (€380.1m) from C$637.9 million. ...
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News briefsDunlop Sports’ operating profit increases by 40% in FY23
Sumitomo Rubber’s sports division generated a 40 percent gain in annual operating income to ¥12,482 million (€77.4m) from ¥8.943 million for the 12 months ended Dec. 31. Annual sales rose by 8.6 percent to ¥126,647 million (€785.0m) from ¥116,597 million, bolstered by golf gains in North America and South Korea ...
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ArticleTopgolf Callaway forecasts higher revenue, Ebitda and cash flow in 2024
Topgolf Callaway, which is working on several synergistic strategies to connect and grow its various businesses, is forecasting modest cash flow growth this year before it ramps up between 2025 and 2028 and bolsters earnings per share expansion starting next year. Despite currency headwinds and a difficult year-over-year comparison for ...
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News briefsBrooks reports 5% sales growth and a record number of units sold
Brooks Running finished 2023 with revenue growth of $1.2 billion, representing a 5 percent increase year-over-year and a record of more than 20 million units sold. Since 2018, Brooks’ compound annual growth rate (CAGR) exceeded 14 percent. In North America, the brand reached $1 billion in revenues in for the ...
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News briefsSales flat, profits down at Forum Sport
In its full-year 2023/24, ended Jan. 31, Forum Sport generated €121.4 million in sales, 1 percent more than the €120.2 million of FY 2022/23, according to CMDsport. Things were on the upswing until November, which was flat year-on-year and marked a reversal of fortunes for the next two months. CEO ...
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ArticleEuropean market remains strong for Under Armour
Despite some recent “cooling” with consumers in Eastern Europe and concerns over Red Sea shipping disruptions, Under Armour is pleased with the trajectory of its business in Europe. In the product area, the brand is seeing sales traction from its Meridian products for women; its Curry 11 products; and its ...
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ArticleMizuno posts strong nine-month results, lifts FY outlook
Bolstered by record revenues and net income for the nine months ended Dec. 31, Mizuno Corp. raised its annual operating profit and net income outlooks while maintaining its annual revenue forecast at 225,000 million Japanese yen (€1.41bn). The group raised its full-year operating profit by 13.6 percent to ¥16,500 million ...
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ArticleAsics eyes modest FY24 growth, but flat sales in Europe
After reporting a 59 percent gain in FY23 operating income to ¥59,215 million (€337.8m) and 17.7 percent increase in total annual revenues to ¥570,463 million (€3.55b), Asics Corp. detailed its FY24 outlook. The Japanese group, which wants to achieve a consolidated operating income ratio of approximately 12.0 percent in FY26, ...
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ArticleAlpargatas’ write-offs impact Q4 Ebitda, adjusted gross margins
Write-offs of 64 million Brazilian reais (€12.0m) in raw materials and finished goods affected Q4 adjusted Ebidta at Alpargatas. The Brazilian footwear group ramped up its capital discipline in the latter months of 2023 because of a “significant reduction” in sell-ins, itself due to high levels of inventory at retail. ...
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ArticleGoPro’s retail strategy ahead of plan despite Q4, FY losses
GoPro is increasing its retail presence and product range while ramping up its brand exposure at global sporting events, despite reporting Q4 and FY 2023 operating losses and declines in revenues. Ten months since launching a multi-year growth strategy, the group says it can count on some wins despite the ...
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ArticleXXL promises Ebitda improvements amid cost-cutting
Norwegian retailer XXL ASA, in reporting weak Q4 and FY 2023 results, said it will continue to implement its “Reset & Rethink” strategy this year to deliver Ebitda improvement of 500-750 million Norwegian kroner (€43.9–65.8m) over the next 12 to 18 months. The effort will focus on a continued consolidation ...
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News briefsGoldwin’s Q3 operating income inches up
The Japanese group Goldwin has reported a 5.5 percent increase in implied Q3 revenues to ¥43,736 million (€274.3m) from ¥41,437 million for the three months ended Dec. 31. Operating income was 0.9 percent higher year-over-year at ¥13,119 million (€82.3m) versus ¥13,004 million. Net income fell by 1.7 percent to ¥10,251 ...
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ArticleThe North Face, EMEA stronger in “challenging” VF quarter
VF Corp. may not look the same in thee future. As they report disappointing Q3 results, the company has inititated a “strategic review of its brand assets”.
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ArticleDescente’s operating profit dips despite higher sales
Higher SG&A costs related to additional brand promotions contributed to a 12 percent decline in Q3 operating income to ¥6,434 million (€40.2m) at Descente. But higher athleticwear sales offset a decline in golf apparel sales and led to a 4.6 percent gain in total revenues to ¥90,100 million (€56.3m) for ...
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ArticleDeckers raises FY guidance, sets CEO succession plan after strong results
Bolstered by strong Q3 gains in the DTC channel, Deckers Brands has reported 35 percent operating income growth, 16 percent revenue expansion on a reported basis, and a 570-basis-point increase in gross margin for the period ended Dec. 31. With the strong results, the Ugg and Hoka parent raised its ...
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ArticlePeloton Interactive disappoints despite some clear gains
Despite making some strides in Q2, Peloton Interactive did not live up to future sales expectations. The company is now forecasting a Q3 revenue range of $700 to $725 million, below average market guidance of $755.6 million and 3.2 to 6.5 percent below the year-ago quarter’s $749 million. That shortcoming ...
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ArticleAdidas eyes €500m operating profit for FY24, most Yeezy inventories won't be written off
Adidas published preliminary FY23 results and sales and operating profit guidance for FY24 yesterday. In a statement, CEO Bjørn Gulden said the outlook for FY24 is “the next building block needed to bring Adidas back to a company with a double-digit growth and 10 percent operating margin.” Markets in ...
