Financial results – Page 7
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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 ...
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ArticleVF Corp. slashes FY revenue guidance, reports wider Q1 loss
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleCoats Group forecasts gradual demand improvement in H2
The U.K.-based maker of industrial yarns and structural components for footwear and apparel faced H1 headwinds due to difficult year-over-year comparisons and widespread industry destocking. Adjusted operating profit slipped by 14 percent to $107 million from $125 million for the six months ended June 30. Revenues fell by 11 percent ...
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ArticleSkechers raises profit forecast as DTC and international shine in Q2
Skechers raised its guidance for earnings in the full year after its direct-to-consumer (DTC) and international operations performed strongly in the second quarter ended June 30. While its domestic wholesale business underperformed as expected, overall revenues rose by a reported 7.7 percent to $2,012.5 million and were 9.1 percent higher ...
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ArticleFrasers scores double-digit FY23 revenue gains in all segments
U.K. retailer Frasers Group, bolstered by acquisitions and a strong performance from its core Sports Direct business, generated a 61 percent increase in annual operating profit to £531.8 million (€613.2m) for the 53 weeks ended April 30. Adjusted profit before tax rose by 41 percent to £478.1 million. FY gross ...
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ArticleMeta up in Q2 except in the metaverse
“We had a good quarter,” is CEO Mark Zuckerberg’s summation. “We continue to see strong engagement across our apps, and we have the most exciting roadmap I’ve seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall.” ...
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ArticleHoka paces Deckers in Q1, company lifts FY guidance
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in Q1/24 net income to $63.6 million versus 44.8 million for the three months ended June 30. Operating income was 26 percent higher year-over-year at $70.7 million. Total net sales ...
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ArticleCrocs’ shares take hit as Heydude sales outlook tempered
Crocs Inc. generated more than $1 billion in Q2 revenues on 12 percent constant-currency growth. The company increased its annual revenue guidance on July 26 to surpass the $4 billion mark, but its share price plummeted more than 14 percent, nonetheless. By mid-afternoon, the company’s shares were on pace to ...
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ArticleMoncler Group’s H1 revenues surpass €1 billion for first time
Consolidated H1 revenues rose by 24 percent in both reported and constant currency for the Moncler Group to €1.14 billion from €918.4 million for the six months ended June 30. Moncler brand sales rose by 29 percent to €935.0 million and Stone Island sales increased by 4 percent on a ...
