Financial insights for the sporting goods industry – Page 28
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News briefs361 Degrees updates on H1 results
361° Degrees Intl. Ltd. expects profitability to increase by at least 25 percent for the six months ending June 30 compared to the same period last year. The company cites a market recovery in China after pandemic-related restrictions and the launch of new premium products as factors.
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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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News briefsBasicNet H1 Ebitda rises slightly
The Italian parent of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands suffered a 31 percent decline in H1 net profit to €7.4 million as aggregate group brands revenues reached €558.3 million for the six months ended June 30. Ebitda was €22.6 million versus €22.4 million. Commercial ...
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News briefsPou Sheng experiences H1 recovery on improving trends
The retail subsidiary of Yue Yuen, citing recovering consumer momentum in China and “particularly strong” omnichannel results, has reported preliminary results for the first half ended June 30. Revenues rose approximately 11 percent year-over-year to 10.960 billion yuan renminbi (€1.47bn). Profit attributable to employees was approximately RMB 305 million (€40.8m), ...
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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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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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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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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 ...
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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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News briefsSales up for H1 at Base Detall Sport
Base Detall Sport is satisfied with its performance so far in 2023, which it considers a year of stabilization and consolidation. With VAT excluded, accumulated sales for the first half amounted to about €65 million, for an increase of 13 percent year-on-year, as Diffusion Sport and TradeSport have reported. Online ...
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News briefsAdidas updates guidance after Yeezy boost
Adidas, bolstered by its first sell-off of Yeezy styles, is now forecasting a full-year operating loss of about €450 million. That total represents a 36 percent improvement from its prior guidance of an FY23 operating loss of €700 million. If additional sales of Yeezy product are successful, annual results will ...
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News briefsSpanish retailer posts record sales
Spanish retailer Megasport achieved record sales of €21.5 million in its fiscal year ended April 30, CMD Sport has reported, surpassing the €20 million mark for the first time in its history. Sales were up 17 percent compared to the 2021/22 fiscal year. Megasport was founded in 1990 by David ...
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News briefsConverse’s FY23 Ebit inched up 1%
Parent Nike provides more details about Converse’s annual results for the 12 months ended May 31 in its annual report filed last week. FY revenues for the All-Star brand rose by 3 percent to nearly $2.43 billion. Annual Ebit at Converse was $676 million versus $669 million in FY22. Currency-neutral ...
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News briefsFila pushes sales at Anta Sports, all brands with strong performances
Second-quarter sales were up for all brands at Anta Sports Products Ltd. The Anta brand generated high-single-digit, year-over-year sales growth, while the Fila brand posted high-teens positive, year-over-year sales growth for the period. Retail sales of all other brands sold by the group were up 70 to 75 percent. For ...
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News briefsFútbol Emotion on track for record year
Fútbol Emotion’s football, e-commerce and team-sports divisions have together achieved year-on-year growth of 70 percent for the first half of 2023, according to CMDsport’s sources within the company. Annual sales have risen from about €34 million in 2021 to €50 million in 2022. For the current year, the company is ...
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News briefsChina Dongxiang increases Chinese Kappa sales in Q1
China Dongxiang, which has been publicly traded for 15 years and holds the rights to the Kappa brand in China, announced that retail sales at its Kappa and Kappa Kids stores - 1,020 doors at the end of the quarter, a decrease from the previous quarter of five stores - ...
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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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News briefsFootway continues to lose in Q2, Scandinavian market remains difficult
As reported by ehandel.se, the Swedish e-commerce company Footway posted net sales of SEK 240 million (€20.9m) in Q2 of this year, down 15 percent from SEK 283 million (€24.7m) in the same period last year. Just like in the previous quarter, the loss was owed to negative performance in ...
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News briefsOnline boost at Forum Sport for first five months
Forum Sport, which operates under the Forum Sport and Dooers banners, generated a 5 percent year-on-year rise in sales during the first five months of its current financial year, running from Feb. 1 to June 30. Speaking with CMDsport, the Spanish retailer’s Chief Executive, Diego Llorente, has attributed the near ...
