Financial insights for the sporting goods industry – Page 20
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News briefsHanesBrands raises Q4 outlook and announces CFO departure
HanesBrands, the parent company of Champion and other apparel brands, has announced that it expects fourth-quarter 2022 sales to be slightly above the top end of its outlook range. The company has also adjusted operating profit at the midpoint of the range. Its fourth-quarter investor conference is scheduled for Feb. ...
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News briefsMunich expects 35% sales increase and opens new stores
Spanish sneaker brand Munich expects its sales to jump by around 35 percent in the full fiscal year ending March 31, 2023, to reach €65-70 million. In an interview with trade publication FashionNetwork, Munich CEO Xavier Berneda said that the company’s revenues are projected to exceed last year’s record sales ...
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News briefs
Anta Sports sees improving conditions in China despite soft Anta, Fila brand sales
Faced with lower retail foot traffic and consumer sentiment in the fourth quarter, largely related to ongoing pandemic impacts in certain regions of China, Anta Sports reported “high-single-digit” negative growth for its Anta brand and “low teens” negative growth of Fila branded products. All other branded products sold by the ...
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ArticleWolverine Worldwide’s profitability will be impacted by inventory reductions
Wolverine Worldwide reduced its Q4 inventory total from the prior quarter by 8.5 percent to $805 million, but the effort is forecast to weigh negatively on the company’s FY22 and Q4 adjusted diluted earnings. Wolverine says final earning results, when reported next month, will be at the low end of ...
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ArticleJD Sports sees FY at top end of expectations after Christmas sales surge
JD Sports Fashion said it expected annual profits to be at the top end of expectations after revenues grew by more than a fifth over the Christmas period. Current market expectations for the year to Jan. 28 are for a profit before tax and exceptional items of £933-985 million (€1.05bn-1.11bn) ...
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ArticleOn has various growth levers to pull
On Holding, the Swiss-based “disruptor”, which generated $1 billion in trailing 12-month sales through Q3, continues to focus on innovation and sustainability issues while establishing growth levers to reach younger, Chinese, and apparel consumers as a head-to-toe brand rooted in performance with lifestyle adaptability. On continues to eye a 60 ...
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ArticleInternational will be vital to Crocs’ $4 billion FY23 revenue objective
Crocs, which has delivered 54 percent annualized shareholder return since 2017 by its own calculation, is forecasting revenue growth of 10 to 13 percent this fiscal year to a range of $3.9 to $4.0 billion with sales in markets outside the Americas increasing at the highest rate. Presenting at ...
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News briefsLululemon shares take hit after lowered margin outlook
Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...
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News briefsZumiez Q4 results should meet or exceed forecast
Zumiez, the retail operator of 766 stores worldwide, including 78 Blue Tomato banners across Europe, expects its fourth-quarter sales will be slightly higher than its forecasted range of $258 to $268 million, with corresponding EPS to be at the “mid to high end” of its $0.36 to $0.51 forecasted per ...
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ArticleSwedish e-tailer Ridestore nears SEK 1 billion in sales
According to an article on ehandel.se, Swedish e-tailer Ridestore reported sales of just over SEK 1 billion (€90.8m) in its latest financial statements for 2021/2022, including currency exchange gains. Excluding, earnings were SEK 975 million (€87.6m), solid growth from SEK 600 million (€53.9m) the previous year. The privately held company ...
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News briefsXXL raises capital, warns of lower margins and exits Austria in 2023
Norwegian sporting goods chain XXL warns that lower margins will cut into Q4 profits and has decided to launch a NOK 500 million (€47.9m) targeted share issue. The largest owner Altor, led by XXL chairman Hugo Maurstad, has committed to a NOK 119 million (€11.4m) contribution. The capital from the ...
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ArticleNike’s inventory position improves as China recovery commences
In reporting more than a 30 percent quarterly sales increase across three global geographies, growing momentum in its digital business worldwide, better results in Greater China and an improving inventory position, Nike executives told analysts yesterday afternoon that the company “is in a position to control its own destiny.” ...
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News briefsAll for Padel not quite all pádel
CEO José Luís Sicre announced at this month’s seventh edition of International Padel Days in Barcelona that All For Padel is looking to make good on its slogan, “Not everything’s padel,” especially when it comes to international expansion. According to CMDsport, the Adidas retail licensee is looking to move into ...
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ArticleFrasers defies downturn to post rise in H1 profits
U.K. retailer Frasers Group has defied the economic downturn and revealed a jump in first-half sales and profits, driven by acquisitions, including the takeovers of Missguided and Studio Retail. The business, majority-owned by Mike Ashley, reported a 12.7 percent rise in revenues to £2.64 billion (€3.06bn) in the six months ...
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ArticleInternational remains vital in Lululemon’s growth strategy
Lululemon continued its string of strong earnings results in the third quarter with 28 percent revenue improvement and 37 percent growth in operating income, but market concerns over the group’s 85 percent inventory expansion and a gross margin decline sent its shares down more than 6.2 percent in after-market trading ...
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ArticleRendle steps down as CEO, VF revises FY23 outlook
Source: VF Corp. Benno Dorer, interim president and CEO of VF, effective immediately VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board ...
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News briefsDeporvillage raises its sales projections
Black Friday, it seems, has augured better than the second quarter for Deporvillage, which has raised its projections for current-year annual sales to €157 million, according to CMDsport. This would be just shy of the record haul of 2021: €160 million. The week-long pre-Christmas promotion brought in more than 86,000 ...
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ArticleCurrency, inflation weigh on Zumiez results
Zumiez, the global specialty retailer, which sees Europe, Australia, and Canada as its biggest growth areas, suffered a 74 percent drop in operating income to $10.4 million from $39.8 million for the second quarter that ended Oct. 29. Ebit was $9.6 million versus $41.2 million in the year-ago period as ...
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News briefsChina Dongxiang reduces loss despite market challenges
China Dongxiang, which has been a publicly traded company for 15 years, lowered its net loss to 386 million yuan renminbi (€52.5m) from a loss of RMB 748 million for the six months ended Sept. 30. The six-month operating loss was RMB 392 million (€53.4m). Revenues dipped 8.9 percent to ...
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News briefsBjörn Borg reports strong e-com growth in third quarter
Björn Borg currency neutral operating profit, adjusted for non-recurring items, rose 1.5 percent to 53.2 million Swedish kronor. Reported operating profit declined 42 percent to SEK 30.6 million (€2.9m) from SEK 52.4 million for the period ended Sept. 30. The operating margin declined 12.3 percent from 21.8 percent in the ...
