Financial insights for the sporting goods industry – Page 41
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News briefsE-commerce spurs growth at 361 Degrees
In the third quarter, core brand sales at 361 Degrees increased by a mid-teen rate and sales of the running brand’s independently run 361° Kids brand saw year-on-year growth of 20 to 25 percent, our colleagues at the U.S. edition of SGI report. E-commerce, up by 45 percent year-on-year, was ...
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News briefsXtep sees Q3 growth
Xtep International Holdings has released an operational update on business in Mainland China for the third quarter, which ended on Sept. 30. The group’s unaudited operational data show growth of 20 to 25 percent in retail sell-through for its core brand, with on- and offline channels combined. Retail discount stood ...
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News briefsFila returns to growth in China
After a weak first half in which premium brand Fila suffered from zero-Covid closures in China, retail sales grew in the low teens year-on-year in the third quarter. Anta Sports, which co-owns the brand in China through a joint venture with Fila Korea, said in an update that Fila outperformed ...
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News briefsSweaty Betty posts 45% sales increase, helped by digital
Sweaty Betty, the U.K.-based brand of women’s fitness apparel, saw its turnover rise by 45 percent in 2021 compared to 2020, with revenues for the full year reaching £183.2 million (€212.3 million), mainly as a result of the strong trading performance across its digital channels. Physical shops continued to be ...
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News briefsNordic countries weigh on Footway’s results
Habit.se reports that Swedish e-commerce company Footway Group posted an operating loss of SEK 13.5 million (€1.2m) in the third quarter, compared with SEK 0.8 million (€72,700) in the corresponding period last year. Overall, the company posted sales of SEK 261.6 million (€23.8m) in the third quarter – SEK 76.3 ...
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News briefsAtmósfera Sport looking to top its record-breaking 2021
Atmósfera Sport is projecting 30 percent revenue growth for the current year, finance director Paco Zaragoza tells Diffusion Sport. The rosy news follows what was already the retail buying group’s best year ever in 2021. Álvaro Llorens, director of e-commerce and digital marketing, credits a tripling of digital sales – ...
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News briefsSuperdry returns to profit
Superdry has announced its preliminary results for the fiscal year to April 30, 2022 (FY22), reporting adjusted profit before tax of £21.9m (€25.0 million), up from a loss of £12.6 million (€14.4 million) in the previous year. Total revenues increased 9.6 percent to £609.6 million (€694.2 million) year-on-year, driven by ...
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ArticlePeloton’s ride to breakeven cash flow results in more layoffs
In an effort to continue to drive the business forward and achieve cash flow breakeven by the end of the current FY23, Peloton is laying off more employees. On Oct. 6, the connected fitness company announced another round of job cuts, the fourth in 2022. The latest action – the ...
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News briefsLe Coq Sportif posts double-digit sales growth in H1
Le Coq Sportif saw sales in the first half of 2022 jump to €65 million, representing a 23 percent increase compared to the first half ended June 2021. The strong performance was primarily driven by international sales, which rose by 80 percent. Textile sales, which registered a 13 percent growth, ...
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ArticleNike addressing excess inventory; Q1 Ebit falls 13 percent
Nike, ever bullish on its digital approach, is facing an excess-inventory dilemma, contracting gross margins and persistent currency headwinds as it moves into the holiday season. The scenario emerged as the group reported a 22 percent decline in Q1 net income to $1,468 million from $1,874 million for the period ...
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Article
VF Corp. sets initiatives for brands to reach FY27 targets
This is how VF Corp. wants to reach its growth targets for 2027 in challenging times.
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ArticleVF Corp. maps out growth strategy, trims FY23 outlook
EMEA plays a key role in the company’s growth strategy.
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News briefsNautilus turns to financial advisory firm
Nautilus Inc. of Vancouver has retained the financial advisory firm Evercore to review its business and, in the words of our colleagues at the American edition of SGI, “help it figure out a new way forward now that its pandemic-fueled, record sales levels have come crashing back to earth.” Troubles ...
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News briefsBuff projects 10% rise in annual sales
Buff is projecting sales of €56 million for the current year, begun in April, for a 10 percent year-on-year rise, reports Modaes. This will nevertheless fall 34.1 percent short of the figure for 2020, a historic year for the Catalonian brand, when pandemic measures drove sales up by 50 percent. ...
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News briefsRoyal Padel thriving despite standstill in the market
The chief executive of Royal Padel, Rafael Tarradas, has made twin declarations to CMDsport: for one thing, the European pádel market has ground to a halt; for another, sales for his own brand have taken off since September, thanks to customers from outside Spain. Barcelona-based Royal Padel enjoyed a 25 ...
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News briefsJoma appears to have recovered from pandemic measures
Joma is set to exceed its sales for pre-lockdown 2019 by 15 to 20 percent, according to Diffusion Sport. Production director Fortu López told the trade publication at the recent Micam trade show that “the company is meeting expectations. Indeed, we’re exceeding our goals, which were to return to our ...
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Article
International is important cog in Columbia’s growth plan
Columbia Sportswear unveiled a three-year financial target plan last week that calls for potential double-digit growth on its profit & loss statement that will be driven by sales gains outside its home U.S. market, footwear and digital. In FY22, the company confirmed a guidance call for 10 to 12 percent ...
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ArticleJD takes cautious view on H2, encouraged by European recovery
JD Sports Fashion reported an 11.4 percent decline in profit before exceptional items and taxes to 418.1 million pounds (€478.3m) for the first half ended July 31. Total period revenues increased by 13.7 percent to £4,418.1 million (€5.1bn) from £3,885.8 million, as total sales growth in organic retail businesses rose ...
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ArticleKMD Brands sees sales momentum resuming
After a challenging first half impacted by the effects of the Covid-19 pandemic, KMD Brands experienced rebounding sales in the final two quarters.
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News briefsSales up by 22% at El Corte Inglés for FY 2021
El Corte Inglés reported at its annual shareholder meeting in July that sales for the year ended Feb. 28 had reached €12.51 billion, in a year-on-year increase of 22 percent. EBITDA reached €804 million and consolidated net profit €120 million. Marta Álvarez, the Spanish retailer’s chairwoman, attributed this “return to ...
