Financial results – Page 5
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ArticleDescente’s Q2 rises by 36 percent
Descente, benefitting from the consolidation of its Arena and Le Coq Sportif businesses in China and the equivalent of €17.6 million in non-operating income, reported improved sales and profits in Q2. Total revenues increased by 2.8 percent to ¥27,162 million (€181.9m) from ¥26,425 million for the period ended June 30. ...
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ArticleGrendene exports slip by 51 percent in Q2
The Brazilian footwear maker Grendene posted a 15 percent decline in Q2 net income to 57.2 million Brazilian reais (€10.6m) from R$65.7 million for the period ended June 30. Ebitda was off by 13 percent to R$24.3 million but gross margin improved by 670 basis points to 40.9 percent from ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 from $175,049,000 for the six months ended June 30, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000 from $223,948,000. The company cited a sluggish global macroeconomic environment and ...
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ArticleChampion drags down Hanesbrands in Q2
Hanesbrands senior management described Champion’s European business as “holding ground” in a tough market with a challenged consumer, with Footwear performing well. However global sales are down and the company has announced measures to move forward the purpose of the brand and revised its FY23 outlook. Champion under pressure in ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was yesterday named the President and CEO of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and ...
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ArticleNautilus narrows Q1 operating loss despite lower sales
The fitness company Nautilus, which sold off its namesake brand trademark and related assets earlier this year for about $13 million, posted numerous improved financial metrics in Q1 but still reported lower sales and a net loss for the period. In doing so, Nautilus, which retains the BowFlex brand, confirmed ...
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ArticleActivist investor wants changes at Hanesbrands
Barington Capital Group, a New York hedge fund manager, fired off a five-page letter to Hanesbrands’ Chairman Ronald L. Nelson on Aug. 7 demanding significant changes at the apparel firm and parent of Champion. The activist investor, led by James Mitarotonda, wants the underwear and activewear company to create long-term ...
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ArticleTopgolf Callaway maintains FY guidance, Q2 net up 11 percent
Topgolf Callaway’s Q2 results are on-track to reaffirm the groups full year 2023 revenue. President and CEO Chip Brewer has said in a statement he is “Particularly pleased with market share gains in Golf Equipment and the continued strength of Topgolf’s venue business.” Net income and US sales up Net ...
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ArticleFirst figures out as Under Armour commences its transition year
Under Armour, which sees its next FY as the start of growth phase for the company, commenced FY24 by exceeding Wall Street’s revenue and EPS guidance estimates. The international segment, including the EMEA, and DTC channels paced the results. Under Armour “very focused on profitability” Operating income slipped by ...
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ArticleAsics raises FY outlook as H1 operating profit soars
Suggesting its annual sales are likely to reach a record high, helped by contributions from its core Performance Sports, Sportstyle and Onitsuka Tiger segments, Asics Corp. has raised its FY23 outlook. Annual operating income is now pegged at ¥46,000 million (€308.2m), up 24 percent from a February forecast of ¥37,000. ...
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ArticleMizuno generates record Q1 operating profit
A recovery from year-ago supply chain disruptions coupled with strong sales growth outside Japan contributed to record Q1 operating income for Mizuno. Total revenues, bolstered by strong gains in golf, baseball, and soccer, rose by 24 percent to ¥57.2 billion (€383.2m) from ¥46.2 billion for the period ended June 30. ...
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ArticleXponential Fitness operating income ticks up 1 percent in Q2
The global franchisor of boutique fitness brands, which signed a master franchise agreement for France during the period, reported a 1 percent increase in Q2 operating income to $36.5 million from $36.1 million. Net income attributable to Xponential Fitness rose by 9.2 percent to $18.4 million on 30 percent revenue ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
The Brazilian parent of flip-flop sandal brand Havaianas and the Rothy footwear brand continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins, and profitability. Alpargatas reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleChina demand boosts Canada Goose Q1, but warns of slower Q2
Strong post-Covid pandemic demand from China for parkas has helped Canada Goose beat revenue estimates for its first quarter, but the company warned of below-estimate sales in the current three months due to softer demand amid a tougher US economic backdrop. Continued momentum in Asia Revenue from its Asia-Pacific segment ...
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ArticleGoPro captures momentum with entry-level cameras; reports Q2 loss
New market strategies began to take hold in Q2 as revenues for the period clicked 9.5 percent higher, above expectations, to $241 million. Nonetheless, GoPro reported an operating loss of $22.5 million against an operating profit of $4.7 million for the period ended June 30. Gross margin came in at ...
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ArticleAdidas’ bumpy year showing some signs of smoothing out
While still facing hurdles in its recovery and path to profitability in 2025, Adidas began to show some positive developments in Q2 that included improved sell-throughs for some products and a €400 million boost from the sale of surplus Yeezy shoes that will reduce the group’s expected FY23 loss. ...
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ArticleAcushnet paced by U.S., ball sales in Q2
Acushnet’s operating income increased by 20 percent to $106.5 million from $88.5 million in Q2 as the Titleist, FootJoy, and Kjus parent achieved 4.7 percent revenue growth to $689.4 million from $658.6 million for the period ended June 30. Net income was 12.3 percent at $74.7 million versus $66.5 million ...
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ArticleCoDi maintains FY guidance as inventory headwinds persist
Net income from continuing operations in Compass Diversfied’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 68 percent to $6.94 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell ...
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ArticleVulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit Q2 gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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ArticleColumbia dims FY outlook as Q2 net dips 17%
Bloated inventories and challenging market conditions in the USA are forcing Columbia Sportswear to take a “more conservative” stance on its H2 and full-year results despite explosive year-over-year Q2 sales growth in China and in its lower-margin international distributor businesses. Saddled with a 21 percent year-over-year increase in Q2 ...
