Financial results – Page 9
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ArticleFoot Locker lowers full-year outlook on “challenging backdrop”
Foot Locker, after reporting a 73 percent drop in Q1 operating income to $61 million and an 11.4 percent decline in total sales to $1,927 million for the period ended April 29, dialed back its FY23 outlook for revenues, comp sales and gross margin for the 12 months. The news ...
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ArticleBjörn Borg increases sales and profit in Q1
Björn Borg AB, listed on Nasdaq Stockholm since 2007, has started the new fiscal year with good sales and very good development in operating profit. “The fact that we increased our operating profit in the quarter to SEK 31.4 million [€2.76m], despite the continued weak krona and a troubled world, ...
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ArticleAlibaba misses revenue forecast
China’s Alibaba Group reported that its revenue had missed the forecasts for its Q4. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. Alibaba posted revenue of 208.2 billion yuan renminbi (€27.5bn) in the three months ended ...
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ArticleStrong regional demand fuels Yonex’s FY23 results
Yonex reported double-digit gains in operating profit and total sales for the 12 months ended March 31. The Japanese group’s FY23 operating profit rose by 49 percent to ¥10,063 million (€70.4m), and net profit increased by 27 percent to ¥7,331 million (€51.3m). Annual revenues grew nearly 44 percent to ¥107,019 ...
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ArticleEMEA, Asia-Pacific fuel Q4 sales growth for Canada Goose
Higher direct-to-consumer revenues coupled with the absence of pandemic-related restrictions helped Canada Goose achieve double-digit revenue growth in the EMEA and Asia-Pacific regions in Q4 ended April 2. Period operating income was C$17.2 million (€11.9m) versus C$0.9 million, but the group reported a net loss of C$10.0 million (€6.9m) against ...
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ArticleDescente forecasts 9 percent FY23 operating income growth
Descente’s annual revenues of ¥120,614 million (€815.5m) in FY22 exceeded its Nov. 2022 forecast of ¥118,000 million as the company generated higher year-over-year sales in Japan, South Korea and China. The group realized significant profit improvement in both Japan and South Korea but lower year-over-year profits in China due to ...
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ArticleAqualung expects double-digit growth in 2023, pursues “Horizon 2027” strategy
The Aqualung Group initiated a global plan 8 months ago, “Horizon 2027,” aimed at expanding its global leadership position in diving equipment, including for military and professional applications, as well as high-performance water sports products. The renewed executive team, led by Bruno Cercley, President and CEO since December 2022, is ...
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ArticleOn Holding raises FY23 outlook; UK, Germany drive EMEA in Q1
On Holding hiked its FY23 revenue forecast by 2.4 percent to at least 1.74 billion (€1.79b) today as it reported 78 percent Q1 revenue growth to CHF 420.2 million (€418.6m) and a 166 percent year-over-year Ebit increase to CHF 51.5 million (€52.9m) for the three months ended March 31. Other ...
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ArticleTechnogym posts double-digit sales increase in Q1, driven by B2B
Technogym, the Italian specialist in equipment and digital technologies for fitness, has reported consolidated revenues of €175 million for the first quarter of 2023, representing a 15.2 percent increase compared to the same period of 2022, or a 15.5 percent increase at constant exchange rates. The sales increase was driven ...
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ArticleFila Holdings’ Q1 sales, profits dominated by Acushnet
Struggling with a bloated inventory market in the U.S. and sales channel adjustments in its home South Korea market, Fila Holdings relied on Acushnet Co. to generate the majority of its Q1 revenues and operating profit. Operating income declined by 14.7 percent in constant currency to KRW 160,379 million ...
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ArticleGolf segment helps drive Mizuno to record FY22 sales
Global golf sales coupled with strong baseball, soccer and work segment results in its home Japanese market were key contributors to Mizuno’s record FY22 results. Double-digit year-on-year revenue improvement in all regions Total revenues rose by 23 percent to ¥212.0 billion (€1.44b) from ¥172.7 million for the 12 months ended ...
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ArticleWolverine explores options for Sperry as Q1 beats forecasts but conditions tighten
Wolverine Worldwide reported better-than-expected first quarter results and said it was exploring options for its Sperry footwear and apparel brand as it works to reshape its business amid a deterioration in market trends since the start of the year, macroeconomic concerns and a cold spring selling season that has hit ...
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ArticleGoPro sees opportunity from new go-to-market effort
After three years of a pandemic-induced strategy that focused on a reduced retail presence by about 30 percent, lower marketing expenditures, and an exit from an entry-level SKU due to supply chain constraints, GoPro has adjusted its go-to-market approach. The GoPro group believes its new line of attack – ...
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ArticleSurge in Asian markets bolsters Asics Corp. in Q1
Significant recoveries in China, Southeast and South Asia and its home market of Japan were big contributors to Asics Corp.’s largest Q1 sales quarter ever as the company generated a 120 percent increase in operating income to ¥22,120 million (€161.5m) for the period ended March 31. Net profit attributable to ...
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ArticleTopgolf Callaway beats Q1 forecasts but trims FY estimates as venue bookings slip
Topgolf Callaway Brands beat earnings and sales forecasts for its first financial quarter but trimmed profit forecasts as corporate bookings at its Topgolf venues tailed off slightly at the end of the three month period.
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ArticleAmazon posts 9% sales increase in Q1
Amazon.com, Inc. posted net sales of $127.4 billion in the first quarter of 2023, representing a 9 percent increase versus the first quarter 2022.
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ArticleUnder Armour’s new CEO establishes strategy as latest earnings announced
Coming out of FY23 where sales and profitability increased but gross margin slipped due mostly to currency impact and the promotional environment in its home U.S. market, Under Armour is charging forward under new CEO Stephanie Linnartz with its new “Protect This House 3” objectives.
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ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
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ArticleAcushnet Holdings posts solid results in seasonally strong quarter
Acushnet Holdings, the parent of the Titleist, FootJoy, and KJUS brands, produced a 15.2 percent increase in Q1 net income to $93.3 million versus $81.0 million in the year-ago period ended March 31. Total revenues, benefitting from new product introductions for another golf season and enhanced supply chain and customization ...
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ArticleMoncler Q1 revenues driven by DTC; new CEO for Stone Island
The DTC channel paced Q1 sales growth for the Moncler Group, rising by 34 percent on a constant-currency basis to €501.5 million for the Moncler brand and 40 percent to €39.1 million for the Stone Island business, which will have a new CEO in Robert Triefus on June 1. ...
