Financial results
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ArticleSuperdry unveils restructuring plans amid financial struggles
Superdry has revealed its restructuring proposals alongside plans for an equity raise and delisting from the stock exchange. The proposed restructuring primarily focuses on revamping its UK property estate and retail cost base to achieve a more financially sustainable operating model. CEO Julian Dunkerton emphasized the importance of these measures, ...
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ArticleDecathlon’s global revenue surges by 4.4% to €15.6 billion
In 2023, Decathlon experienced significant developments across various fronts, reflecting its resilience amidst global challenges. CEO Barbara Martin Coppola acknowledged the company’s progress, emphasizing their focus on future sustainability: “We made strides in CO2 reduction while ensuring continued revenue growth.” Financially, Decathlon achieved a 4.4 percent increase in revenue, totaling ...
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ArticleDecathlon France raised revenues, focused on circularity in FY23
Decathlon France generated €4.752 billion (VAT and other taxes included) in full-year 2023, according to its year-end round-up. This represents a rise of 1.24 percent from 2022 and of 22.52 percent from 2019, the year before the lockdowns. France accounted for about a quarter of Decathlon’s worldwide sales, which, by ...
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ArticleAnta Sports’ FY23 operating profit rises 45 percent
Anta Sports, bolstered by double-digit sales gains for its Anta and Fila brands, a retail market recovery in China, and increases in both its wholesale and DTC businesses, reported a 45 percent improvement in annual profit attributable to shareholders at 10,954 million yuan renminbi (€1.4bn) for the 12 months ended ...
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ArticleLululemon posts strong Q4 results, some Q1 softness in US
Lululemon’s operating income increased by 191 percent in Q4 to $913.9 million from $314.4 million for the period ended Dec. 31. Final period net income came in at $669.5 million, and gross margins increased by 430 basis points year-over-year to 59.4 percent. Revenues rose by 16 percent to $3.2 billion ...
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ArticleGrupo SBF improves key metrics in FY23
Brazilian Grupo SBF realized improvement in net debt/Ebitda ratio, inventory level, and cash generation in FY23 as it reported adjusted net profit of 183.5 million Brazilian reais (€33.7m) on a 12 percent increase in revenues to R$8.78 billion (€1.61b) and a 40-basis point improvement in gross margin to 47.4 percent. ...
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ArticleXtep Intl. annual profit hits all-time high
The Chinese group Xtep Intl., which took 100 percent ownership in the Saucony and Merrell businesses in China earlier this year, generated 7.9 percent operating income growth in FY23 to 1,579.9 million yuan renminbi (€201.5m) on 10.9 percent annual revenue growth to RMB 14,345.5 million (€1.83bn). The annual gross margin ...
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ArticleLi Ning considers privatizing sportswear firm amid market challenges
Chinese entrepreneur and former Olympic champion Li Ning is reportedly contemplating the privatization of his sportswear firm listed on the Hong Kong stock exchange, according to sources familiar with the matter. The move would add to a series of similar potential deals amid a challenging market landscape. Li founded Li ...
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ArticleOn eyes greater reliance on DTC, apparel
Swiss company On Holding, in forecasting 2024 sales growth of at least 30 percent to 2.25 billion Swiss francs (€2.35bn), has established numerous priorities for its business in the year ahead. Among them: Capitalizing on the brand’s global momentum, building up its apparel business, expanding its own retail worldwide with ...
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ArticleMore losses at Allbirds
The nine-year-old San Francisco-based company Allbirds continues to face growing pains despite progress in shedding excess inventory last year. Now, its co-founder and CEO, Joey Zwillinger, has stepped down as the group moves forward with a strategy to turn around its overall business by 2025. The group suffered a $57.6 ...
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ArticleVulcabras delivers strong Q4, FY23 results
Quarterly and annual results at the Brazilian group Vulcabras group were driven by 13.1 percent sales growth within its athletic footwear division and 104 percent annual revenue expansion for its e-commerce segment to 279.8 million Brazilian reais (€51.6m). Fourth quarter Ebit fell by 1 percent to R$152.5 million (€28.1m) ...
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ArticleMoncler Group’s FY23 Ebit increases by 15 percent
In its 10th year as a public company, Moncler Group, the Milan-based luxury group generated 15 percent Ebit growth to €893.8 million from €774.5 million on a 15 percent consolidated revenue increase to €2.98 billion from €2.6 billion.
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ArticlePuma expects business headwinds to persist in H1 of 2024
Puma, citing ongoing geopolitical and macroeconomic headwinds and currency fluctuations to continue for at least H1 of 2024, is forecasting mid-single-digit, currency-adjusted sales growth this year and a corresponding operating profit of €620 million to €700 million this year. The predicted Ebit range represents flat to 12.7 percent year-over-year growth ...
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ArticleGildan results benefit from higher customer replenishment
Canadian sportswear firm Gildan Activewear generated an 8.1 percent increase in Q4 activewear sales to $644.0 million, fueled by higher volumes at point-of-sale and stronger year-over-year customer replenishment. There was a strong sales performance from the fleece and ring-spun T-shirt segments. Overall final period results, including sales of underwear ...
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ArticleGymshark’s annual profit drops despite higher sales
UK-based sportswear company Gymshark, which closed its regional sourcing offices in Hong Kong and Mauritius and restructured its North American team last FY, suffered a 32 percent decline in annual operating profit to £20,087,000 (€23.5m) for the 12 months ended July 31, 2023. Net profit, impacted by a 320 percent ...
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ArticleGlobe spinning in right direction with shift in focus
Globe Intl., bolstered by a shift in key product focus to footwear and apparel, generated improved H1 results that included stronger profitability and cash flow from operations for the six months ended Dec. 31. The Aussie group reported a net profit of A$4.9 million (€3.0m) against a loss of A$0.2 ...
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ArticleWolverine makes progress on turnaround but more bumps likely
Wolverine Worldwide’s CEO leads turnaround, aiming for $140M profit gains in 2024. Despite Q4 losses, strides made in inventory and debt.
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ArticleKMD Brands sees soft H1 group sales
All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...
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ArticleSales at AFP up 8%, though short of expectations
All for Padel (AFP) – the racquet company within AFP Group, which holds the Adidas license to design, manufacture and commercialize pádel racquets, accessories and courts – had been hoping to generate €34 million in sales for 2023. However, this target was revised down to €31 million in September, and ...
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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 ...
