Financial results – Page 14
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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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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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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 ...
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ArticleTopsports sees H1 earnings, sales slip
Chinese sports retailer and distributor Topsports saw its net profit in the six months ended Aug. 31 decrease by 19.9 percent to 1,145.4 million renminbi (€158.6m), and sales slip by 15.1 percent to RMB 13,218.0 million (€1,829.8m) as recurrent Covid-19 restrictions in China took their toll on store traffic. Despite ...
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ArticleDeckers: Hoka is more than a running brand
Deckers Brands believes its Hoka brand, already wildly successful, has plenty of upsides ahead as a head-to-toe brand serving running, trail and hiking consumers worldwide like rivals Salomon and VF Corp.’s North Face, and less like running-centric Brooks. “We are re-looking at our category approach,” proclaimed Dave Powers, president ...
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ArticleDouble-digit sales decline at Thule Group in Q3
Thule’s net sales in the third quarter decreased by 22.8 percent to 2.14 billion Swedish kronor (€195.87m) compared to the same period in 2021. Adjusted for exchange rate fluctuations, the group’s net sales fell by as much as 29.4 percent. Operating profit amounted to SEK 193 million (€17.67m). This compares ...
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ArticleVF braces for weaker consumer environment, lowers FY outlook
VF Corp is maintaining its full-year revenue growth guidance of 5-6 percent, citing its balanced portfolio and a building recovery in China as two examples, but has lowered expectations on some key financial metrics due to currency headwinds, higher inventory levels and a more promotional environment. The North Face parent ...
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ArticleMoncler’s momentum endures
Moncler, through the issuance of an interim report, said consolidated group revenues on a constant-currency basis rose 32 percent during the first nine months of 2002 to €1,556.6 million. Third-quarter group sales increased 12 percent year-over-year on a constant-currency basis to €638.3 million. Moncler brand nine-month revenues were 21 percent ...
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ArticleGarmin lifts FY EPS outlook, drops sales forecast by 3 percent
For the second consecutive quarter, Garmin has altered its fiscal year 2022 outlook. After lowering its annual revenue forecast by 9 percent to $5 billion in late July, the group is now forecasting FY revenues of $4.85 billion. On the upside, the Swiss company has adjusted its full-year EPS guidance ...
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ArticleChallenging market conditions continue to weigh on XXL ASA
XXL ASA, the operator of sporting goods across Scandinavia and Austria, continues to see historically low consumer confidence and diminished demand for sporting goods, in general, weigh on its financial results. Earlier, the group said the two trends commenced in mid-May. Now, the retailer, which recently promoted CFO Stein Eriksen ...
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ArticlePolygiene sales fall as distributors cut order levels
The Swedish Polygiene Group reported lower third-quarter sales and profits as distributors tightened order and inventory levels. The company said net sales fell 21.7 percent to 41 million Swedish kronor (€3.75m) in the three months to Sept. 30, mainly attributed to reduced sales at the distributor level. Operating profit fell ...
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ArticleSkechers drops fourth-quarter outlook as Q3 net dips
Skechers, impacted by $50 million in incremental freight and logistics costs and elevated operating expenses, reported a 17 percent decline in third-quarter profit to $85.9 million from $103.1 million for the period ended Sep. 30. Operating expenses were nearly 20 percent higher at $754.0 million, and gross margin was down ...
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ArticleShimano resists slowing demand with results above pre-Covid level
Triggered by the Russian invasion of Ukraine, global shortages in raw material and energy supply, as well as rising raw material prices, will have a direct impact on the business of Shimano Inc. Nevertheless, demand for bicycles and fishing tackle remained stable in the first three sales quarters of fiscal ...
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ArticlePuma reports strong Q3 results, maintains FY outlook
Puma is maintaining its full-year outlook, which calls for currency-adjusted mid-teens sales growth and EBIT of €600-€700 million, despite numerous headwinds that will likely weigh down annual profitability. Those negative factors include inflationary pressures from higher freight costs, persistent operational inefficiencies related to the Covid-19 pandemic and the ongoing crisis ...
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ArticleAdidas cuts guidance again, unveils "business improvement program" after weak Q3
Adidas cut its full-year guidance for the second time in three months and announced a new “business improvement program” after preliminary results for the third quarter showed sales were hit by a “strong” double-digit decline in Greater China and profits shrank in the wake of nearly €300 million in one-off ...
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ArticlePeloton’s ride to breakeven cash flow results in more layoffs
In an effort to continue to drive the business forward and achieve cash flow breakeven by the end of the current FY23, Peloton is laying off more employees. On Oct. 6, the connected fitness company announced another round of job cuts, the fourth in 2022. The latest action – the ...
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ArticleNike addressing excess inventory; Q1 Ebit falls 13 percent
Nike, ever bullish on its digital approach, is facing an excess-inventory dilemma, contracting gross margins and persistent currency headwinds as it moves into the holiday season. The scenario emerged as the group reported a 22 percent decline in Q1 net income to $1,468 million from $1,874 million for the period ...
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VF Corp. sets initiatives for brands to reach FY27 targets
This is how VF Corp. wants to reach its growth targets for 2027 in challenging times.
