Financial insights for the sporting goods industry – Page 14
-
ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
-
News briefsNautilus sells namesake trademark, pays down debt
Nautilus, Inc. has completed the sale of non-core assets, including the Nautilus brand trademark assets and related licenses, for approximately $13 million. The connected home fitness solution company used the net proceeds from the divestiture to pay down part of its term loan. Additionally, the Bowflex parent has improved the ...
-
ArticleSkechers raises full-year guidance after strong Q1, but braces for domestic wholesale headwinds
Skechers raised its guidance for earnings and revenues for the full year after reporting better-than-expected results in the first quarter, when its top line rose by a reported 10.0 percent compared to the year earlier to reach a new record for the period of $2,001.9 million, coming in above an ...
-
ArticleColumbia’s Q1 revenues bolstered by early spring shipments, DTC channel
While Columbia Sportswear generated both lower gross and operating margins in Q1, the company was able to report 10 percent constant-currency revenue growth to $820.6 million thanks to early shipments of Spring 2023 wholesale orders and a reported 4 percent increase in direct-to-consumer sales to $368.1 million. “2023 is off ...
-
ArticleRecord year for Groupe Rossignol
After a strong upswing in fiscal 2021/2022 with sales of €313 million, Groupe Rossignol reported exceedingly strong growth of 28 percent and sales of €401 million for fiscal 2022/2023, which ended March 31, 2023. Established 116 years ago in the French Alps, Groupe Rossignol is now known and respected worldwide ...
-
ArticleCrocs raises FY revenue outlook, banking on markets outside U.S. to pace growth
Markets outside the U.S. are forecast to generate Crocs’ highest FY23 revenue growth rates and help the group deliver 11 to 14 percent reported sales expansion this fiscal year to a range of $3.95 to $4.05 billion. Crocs brand sales are projected to increase by 7 to 9 percent with ...
-
News briefsMarket slowdown impacted Polygiene’s Q1 results
Polygiene, which acquired former distributor Biomaster U.S. during the period, suffered a 38 percent decline in Q1 sales to 28.0 million Swedish kronor (€2.5m) and reported an operating loss of SEK 0.2 million versus a profit of SEK 9.3 million. The group cited inventory reductions by distributors and some manufacturers ...
-
ArticleNew Wave posts double-digit sales gains in all sports & leisure regions
New Wave Group, which boasts 13 brands in its sports & leisure unit, reported a 35 percent increase in Q1 operating profit to 128.0 million Swedish kronor (€11.4m) for the period ended March 31. Segment sales increased by 23 percent to SEK 917.4 million (€81.9m) from SEK 746.6 million. Regionally, ...
-
ArticleXXL sees 6% sales boost in Q1 as market share rises but margins squeezed
XXL ASA generated revenues of 1,984 million Norwegian kroner (€168.8m) from continuing operations in the first quarter of 2023, up by 6.4 percent compared to the year earlier, as heavy discounts allowed the company to post sales growth and gain market share but squeezed profit margins. Like-for-like sales growth stood ...
-
ArticlePuma maintains FY23 outlook despite margin, profitability pressures
Strong growth in Greater China and the direct-to-consumer channel were key contributors to Puma’s 14.4 percent revenue growth to €2,187.7 million from €1,912.2 million in Q1, but the group suffered a 70-basis point drop in gross margin to 46.5 percent on impacts from the higher promotional activity and sourcing and ...
-
ArticleGymshark FY results impacted by discounting, restructuring costs
U.K.-based sportswear company Gymshark realized a 38 percent decline in annual profit to £22,529,000 (€25.5m) versus £36,497,000 for the FY ended July 31, 2022. Ebit slid by 39 percent to £27,837,000 (€31.5m), and annual operating profit was down by 37 percent to £29,561,000. The company generated lower profitability despite ...
-
News briefsStella Intl. Q1 sales hurt by lower shipments but ASP improves
Hong Kong-based Stella Intl. Holdings Limited suffered a nearly 26 percent drop in Q1 revenues to $277.4 million from $374.6 million. Year-over-year footwear shipments declined by 31 percent to 9.6 million pairs from 14.0 million in the year-ago period as certain sport and casual customers pulled back on ordering to ...
-
News briefsLi Ning updates Q1 results
Retail sell-throughs for Li Ning, excluding the group’s Li-Ning Young business, rose by mid-single-digits year-over-year in Q1. The result was bolstered by high-single-digit growth in the offline channel and a mid-teens increase in the retail direct business. Q1 revenues to franchised distributors improved by a mid-single digit as the e-commerce ...
-
ArticleFootway sees sales drop in Q1, but grows internationally
Several Swedish media outlets have reported on Footway Group’s first-quarter figures, which show that the Swedish e-commerce group’s sales fell 7.9 percent year-on-year to SEK 215.9 million (€19.08m). Operating profit (Ebitda) for the quarter was SEK -24.5 million (-€2.17m), an improvement from SEK -71.2 million a year earlier. According to ...
-
ArticleAmid racquet glut, courts maintain sales at Drop Shot
Marcelo Cascabelo, of the brand Drop Shot, believes in the continued expansion of pádel but warns of a difficult year. The chief executive revealed to CMDsport that his company’s revenues for 2022 were up by 120 percent year-on-year, amounting to €20 million, but that the figure for first-quarter 2023 is ...
-
News briefs361 Degrees updates Q1 results
Retail sales of core 361 Degrees products rose by a low-teens percentage in Q1, the Chinese company reported. Also, retail sales of 361 Degrees Kids branded products increased by 20 to 25 percent, and overall e-commerce sales were up 35 percent year-over-year.
-
ArticleWintersteiger Group grows 33% in 2022
Austria’s Wintersteiger Group reported a 33 percent increase and a record result of €223 million in sales for 2022.
-
News briefsChinese firms offer Q1 business updates
Anta Sports Products Limited reported sales increases for all businesses for the period ended March 31. Revenues for Anta branded products rose by mid-single digits year-over-year; Fila brand sales increased by high-single digits year-over-year; and all other brands generated 75 to 80 percent year-over-year sales growth in the period, the ...
-
ArticleGolden Goose sales exceed €500m in FY2022
In 2022, Golden Goose increased its sales by 30 percent to €501 million, driven by a 55 percent rise in revenues in the Americas to €230.4 million. In Europe, the Middle East and Africa, sales grew 33 percent to €193.1 million, but the top line was down by 4 percent ...
-
ArticleArena with best financial result in 50-year history
According to Fashion Network, Italy-headquartered international swimwear brand Arena, owned by Swiss investment company Capvis since 2014 and celebrating its 50th anniversary in 2023, has reported historic financial results for 2022. The company generated record sales of €141 million, up 45 percent from 2021 and up 13 percent from before ...
