Financial insights for the sporting goods industry – Page 36
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ArticleEverysport Group reports declining revenue, Media division shows muscle
Stockholm-based Everysport Group AB, divided into the Everysport Media and Every Padel businesses, said in its year-end financial report that it had conducted a strategic review of the padel business to return to long-term growth as quickly as possible. This resulted in a net positive impact of SEK 10 million ...
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ArticleSuper Retail Group profit up 38% in H1
The Australian parent of the Rebel Sport, Boating Camping and Fishing (BCF) and Macpac chains reported a first-half profit of A$144.2 million (€107.0m) against A$110.8 million for the six months ended Dec. 31. Super Retail Group, which also owns the Supercheap Auto chain, recorded a 32 percent increase in first-half ...
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News briefsCanadian Tire's SportChek Q4 comps decline
SportChek, the retail segment of publicly traded Canadian Tire, suffered a 1.7 percent decline in Q4 comparable store sales due to lower outerwear sales and “higher promotional intensity” in its markets. The 375-door group, under several banners, posted a 1.9 percent increase in Q4 sales to C$637.9 million (€460.9m) from ...
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ArticleCrocs brand gains traction in EU; Heydude prepares for expanded distribution
Coming off a year when global revenues rose by nearly 54 percent to more than $3.5 billion and adjusted operating margin hit 28 percent, Crocs continues to see markets outside the U.S., including Europe, as important growth vehicles for both of its brands. In Q4, Crocs brand sales rose 75.6 ...
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ArticleFY 2028: Canada Goose aims to have up to 150 stores and reach $3 billion in revenue
After reporting slightly weaker third-quarter numbers earlier this month, Canada Goose, founded in 1957 in a small warehouse in Toronto, Canada, announced not only its five-year financial goals but also an update on its strategic priorities at its Investor Day on Feb. 7, 2023, at the company headquarters. “Today, Canada ...
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News briefsNew Wave Group reports “best year ever” with sales up 30%
New Wave Group, the Swedish parent company of Craft, Seger, Auclair, Derby of Sweden, D.A.D. Sportswear and a total of nearly fifty brands in business, sports and leisure, gifts and home textiles, ended its fiscal year 2022 with net sales of 8.84 billion Swedish kronor (€793.1m), up 32 percent, or ...
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News briefsBasicNet posts 34% sales growth in 2022
BasicNet, the Italian parent for the Kappa, K-Way, Superga and Sebago brands, has reported preliminary results for 2022. Final results are due for release on March 9. Group brands’ aggregate sales rose 34.1 percent year-over-year to €1.27 billion in 2022. Commercial licensee and direct aggregate sales grew by 27 percent ...
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ArticleAlpargatas' Q4 reflects inflation eroding purchasing power
Alpargatas, the Brazilian owner of the flip-flop sandal brand Havaianas, reported a decline in sales volumes and a bottom-line loss in the fourth quarter of 2022, rounding out a year that fell short of management expectations as inflation cut into households’ disposable income.
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News briefsGoldwin raises guidance after record results in first nine months
Goldwin, the Japanese sports apparel company that also distributes a portfolio of own and licensed brands in certain regions, raised its guidance for the full year ending March 31, 2023, after posting record results for the third consecutive quarter. Sales are now projected to reach 113,500 million yen (€808.4m), up ...
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ArticleNautilus sees lower retail order trend continuing
The fitness company, which has reduced its workforce by 15 percent and is lowering its annual expenses by $30 million, expects lower levels of retail re-orders that hampered Q3 revenues to continue through the first half of 2023.
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ArticleTopgolf Callaway lifts forecasts as venues offset weaker golf gear sales
Topgolf Callaway reported a rise in fourth-quarter revenues and pushed annual earnings forecasts higher after a strong performance from its driving ranges looked set to help cushion weaker demand for golf equipment this year.
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ArticleHanesbrands shifts capital allocation strategy, shares plunge
Hanesbrands, the Champion parent, faced with numerous near-term challenges that are not expected to wane during H1, has lowered its guidance and eliminated its quarterly dividend, as it aims to accelerate debt reduction and shore up its balance sheet.
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ArticleAsics posts double-digit sales gains in all regions in FY22
Asics Corp., bolstered by 24 percent annual revenue growth in its vital performance running business, reported significant improvements in revenues, operating income and net profit in its fiscal year ended Dec. 31.
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ArticleAdidas braces for a hard year ahead after a difficult 2022
In a press release on Feb. 9, Adidas warn of considerably lower revenues in 2023. If Adidas decides not to repurpose Yeezy prduct, 2023 could see an operating loss as low as €700 million.
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ArticleXXL ASA exiting Austria, raising new equity
The Scandinavian retail operator, facing historically low consumer confidence and lower demand for sporting goods in its markets, is taking major actions to improve its balance sheet.
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ArticleYonex hikes FY outlook on improving overseas trends
Yonex, which only three months ago warned of tougher business conditions on the horizon, has lifted its full-year outlook, citing “a recovery in demand, particularly overseas.” The Japanese company, which has baked higher raw-material costs and currency impact into its forecast, is now anticipating annual revenues of 106,000 million yen ...
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ArticleUnder Armour reports improved results, EMEA shines
With new President and CEO Stephanie Linnartz slated to begin her Under Armour career at month’s end, the company reported stronger third-quarter results for the period ended Dec. 31. Operating income increased by 9.9 percent to $94.7 million from $86.1 million as Ebit expanded by 37 percent to $140.4 million. ...
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ArticleSigna Sports United braces for slow first half
Signa Sports United calls the current headwinds it’s facing transitory and believes they should begin to subside in the second half of FY23
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ArticleMizuno lands improved results, record Q3 revenues
Mizuno, fueled by growth in its golf business and an improved business climate in Japan, has reported an implied 21 percent increase in third-quarter revenues to a record 48.2 billion yen (€332.6m) for the three months ended Dec. 31. Operating profit declined 16 percent to ¥2.1 billion (€14.5m) from ¥2.5 ...
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ArticleVF Corp. takes action to improve performance, divesting pack brands
VF Corp. is vowing to take all necessary actions to improve its operating performance heading into its FY24
