Financial results – Page 13
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ArticleFoot Locker raises FY outlook, decides to exit some geographies
Citing better-than-expected third-quarter results, plans to further realign its brand portfolio and a strategy to move to 300 non-mall locations by 2024, Foot Locker today raised its full-year outlook. The retailer, which has decided to abandon a fourth quarter entry into Japan and exit joint ventures in Benelux and Eastern ...
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ArticleAlibaba’s operating income increases 68%
Alibaba experienced a 3 percent jump in revenues to 207.2 billion yuan renminbi (€28.1bn) from RMB 200.7 billion for the period ended Sept. 30. The increase occurred despite the Covid-19 resurgence in China that depressed consumer demand, currency volatility, higher logistics costs and slowing cross-border commerce. China sales fell by ...
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ArticleRossignol Group plans significantly more revenue, new ESG commitments, novel four-season approach
Source: Rossignol Group Vincent Wauters Under the leadership of Vincent Wauters, president and CEO, who took over the reins of the group in February 2021, the Rossignol Group has announced a new strategic plan called Ascension 2026, according to which the group aims to achieve sales of ...
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ArticleOn raises outlook again, vows to “protect the position of the brand”
On Holding, after reporting another quarter of strong results, now sees its FY22 revenues growing by 55 percent to 1.125 billion Swiss francs (€1.16b) and its adjusted Ebitda margin hitting CHF 148 million (€152.1m) despite ongoing margin pressure from the combination of a strong U.S. dollar and weak euro. The ...
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ArticleFila raises revenue guidance but sees operating profits under pressure
Korea-based Fila Holdings raised its guidance for full-year sales following the strong performance of its Acushnet subsidiary and a surge in global royalty revenues in the third quarter but cut its guidance for operating profits amid one-off restructuring costs and margin pressure due to promotional activities resulting from challenging market ...
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ArticleAsics raises FY forecast on gains in performance running in China
Asics Corp., citing performance run gains in Greater China and Oceania and continued sales increases in its core performance sports segment across all regions, has elevated its annual outlook for the 12 months ending Dec. 31, 2022. The Japanese company has raised its total sales outlook by 4.3 percent from ...
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ArticleNautilus drops FY outlook on challenging macro, retail trends
While still expecting to achieve sales and profit improvement in its second half due to seasonality and higher advertising to drive demand, Nautilus lowered its second-half and FY outlook yesterday on current macroeconomic and retail concerns. The fitness equipment and technology company cut its annual revenue range forecast by 17-20 ...
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ArticleYue Yuen cautious about months ahead despite strong Q3
Yue Yuen reported a 171 percent increase in nine-month profit attributable to shareholders of $270.1 million versus $99.6 million. Revenues increased 8.2 percent to $6,971.9 million from $6,441.2 million for the period ended Sept. 30. Ebit was up 101 percent through nine months at $353.4 million, but gross margin was ...
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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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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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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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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 ...
