Financial results – Page 8
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ArticlePuma maintains full-year guidance despite challenging market as Q2 sales tick up 6%
Puma confirmed its guidance for the full year and hinted at a possible upgrade after sales in the second quarter rose by a reported 5.9 percent compared to the year earlier, or 11.1 percent in local currencies, to reach €2,121 million. It also indicated it would be able to adjust ...
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ArticleThule reports best-ever gross margin, higher cash flow from ops
Despite experiencing lower profitability and sales in Q2, Thule Group generated a record quarterly gross margin and a 47 percent increase in cash flow from operations as the Swedish company continued to prepare for new product introductions over the next 18 months. Sales for the three months ended June ...
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ArticleXXL initiates new operating model under new CEO; reports Q2 loss
Norwegian retailer XXL ASA reported another weak quarter of results but also some progress on its initiative to develop a new operating model under CEO Freddy Sobin, who has been on the job for two-and-a-half months. The Q2 Ebitda loss was 57 million Norwegian kroner (€4.9m), which included a NOK ...
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ArticleNike eyes “healthy, full price growth” as inventory woes dissipate
Having surpassed $51 billion in annual revenues and normalized its inventory level through markdowns and order cancellations, Nike says it’s better positioned than smaller rivals as it commences FY24 with a strategy to grow total revenues by mid-single digits, expand reported gross margin by 140 to 160 basis points despite ...
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ArticleSportsShoes.com reports 20% sales growth in Q1, 140,000 new customers
SportsShoes.com has announced sales figures for its Q1 of the fiscal year that began March 1, 2023. According to the report, the British e-tailer, which was founded in 1982, saw its sales surge by 20 percent year-on-year to £83.8 million (€97.3m). At the same time, it added 140,000 new customers ...
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ArticleSSU lands €150 million in funding, says worst of market disruptions are over
Signa Sports United (SSU), while bracing for less-than-stellar FY23 results impacted by macroeconomic headwinds and high industry inventory levels, is taking steps to generate €100 million in Ebitda savings by FY25 and less operational complexity in FY24 that will return it to profitable, long-term growth. Meanwhile, the Germany-based e-commerce company, ...
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ArticleJD Sports sees softer North America but holds guidance
JD Sports Fashion reported some softening in trade in its North American business in June, but this would be offset by growth in demand in the UK, Europe and Asia Pacific – allowing it to maintain annual guidance. Despite the US and Canadian markets’ slowdown, the UK retailer still expects ...
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ArticleVuzix OEM consumer smart eyewear business enters countdown phase
At its annual general meeting, held last week at the company’s headquarters, Vuzix announced that it plans to sell 50,000 to 75,000 enterprise products in 2023. The smart glasses supplier predicts that the market for such smart glasses will grow 20- to 50-fold to $2.5 billion by 2028, and estimates ...
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Amer Sports gets upgraded by S&P Global
Amer Sports, the parent of Arc’teryx, Salomon and Wilson brands, last week received an upgrade on its credit rating to B+ from B and a stable outlook from S&P Global. The credit rating agency, which is projecting revenue growth of 17 to 18 percent for Amer this year and 8 ...
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ArticleRecord year for Sport 2000 International
Sports retail group Sport 2000 International looks back on a very successful year, closing FY22 with gross sales of €6.5 billion. With the goal of becoming “an agile, future-oriented premium retail service organization,” the company is initiating a transformation and growing even closer together as an international sports retail network. ...
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ArticleBank merger: UBS completes acquisition of Credit Suisse
UBS, the major Swiss bank headquartered in Zurich and Basel, completed the emergency takeover of Credit Suisse on June 12. The acquisition ”marks the beginning of a new, historic chapter,“ UBS Group wrote in a press release. Swiss authorities arranged the disputed emergency bailout of Credit Suisse by UBS for ...
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ArticleSkechers announces progress on inventory and international business
At Deutsche Bank’s Global Consumer Conference, Skechers told investors that demand, traffic and conversion rates remain healthy. However, the lingering impact of the summer 2022 retail inventory build is still expected to be a headwind for the rest of 2023. The U.S. wholesale market has helped support the bottom line ...
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ArticleZumiez sales continue to slip as Europe, Australia outperform
Zumiez sales decreased by a reported 12.8 percent in the four weeks ended May 27 compared to the year earlier, continuing to trend downwards after its top line in the first quarter ended April 29 fell by 17.1 percent to $182.9 million. Management attributed the decrease to a challenging marketplace, ...
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ArticleLululemon posts strong quarter helped by Greater China
Fueled by a 30 percent increase in traffic, a 79 percent jump in sequential Greater China quarterly sales, and a 430-basis-point improvement in product margin as air freight costs abated, Lululemon Athletica Inc. reported strong Q1 results that exceeded its sales and profit expectations. With the strong showing, the company ...
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ArticleHoka sales up 20% in FY24, further supporting Deckers’ growth
Deckers Brands expects Hoka will continue to lead sales growth in the current financial year, forecasting the brand will see a 20 percent increase in its top line after a 58.5 percent jump in the financial year that ended March 31. The majority of Hoka’s growth is expected to come ...
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ArticleHummel sets five-year targets, new DC costs impact FY22 profitability
After achieving a record turnover in 2022 of 2.218 billion Danish kroner (€297.8m), a 20 percent year-over-year increase in local currency from DKK 1.858 billion in 2021, Hummel has established its growth target for 2028. The Danish group is aiming to reach DKK 4 billion (€537m) and a minimum annual ...
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ArticleCost-cutting helps Nautilus reduce Q4 operating loss
Aiming to strengthen its financial footing and return to profitable growth in FY24, Nautilus lowered its Q4 operating loss by 20 percent to a loss of $17.5 million versus a loss of $21.9 million through numerous cost-cutting measures in recent months. These actions included reducing its workforce by 15 percent ...
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ArticleVF Corp. has a “realistic” turnaround strategy in place
VF Corp., which has begun a rigorous six- to 12-month process to find a new CEO, says it has a plan in place that will improve its sales and profitability fortunes over the next 12 months. It centers on continued growth for its The North Face (TNF), EMEA, and direct-to-consumer ...
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ArticleJD Sports eyes 3.9% profit increase before tax and adjusted items in FY24
Britain’s JD Sports, coming out of a financial year where Ebit declined by 33 percent to £440.9 million (€507.6m) from £654.7 million due to exits from branded fashion businesses and the cost of shuttering its South Korea operations at a total expense of £550.5 million, is aiming to hit the ...
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ArticleFarfetch reports Q1 loss, but GMV grows in key markets
Farfetch Limited, the Internet platform for luxury goods whose year-over-year SKU base grew to a record 17 million units from over 1,400 sellers in Q1, lost $174.3 million against a profit of $728.8 million in the period ended March 31. Revenues increased by 8.1 percent to $556.4 million from $514.8 ...
