Financial insights for the sporting goods industry – Page 42
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ArticleZumiez adjusting assortments as customers seek value
Zumiez, the global specialty retailer that operates 70 Blue Tomato stores in Europe, suffered an 85 percent drop in second-quarter operating profit to $5.0 million from $32.0 million for the period ended July 30. Ebit was down by 83 percent to $5.5 million as net income came in 87 percent ...
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Article
Lululemon stays on strong course, no change to markdown strategy
Lululemon’s net income rose 39 percent to $289.5 million from $208.1 million as total revenues increased by 28.8 percent to $1.87 billion from $1.45 billion. Operating income was 38 percent higher at $401.2 million versus $291.0 million. Gross margin slipped by 160 basis points to 56.5 percent from 58.1 percent, ...
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News briefsPeloton with delayed annual report
Peloton Interactive will need up to 15 additional days to file its 10-K report for the fiscal year ended June 30, which was due Aug. 29, according to a filing with the U.S. Securities and Exchange Commission (SEC). The reason given is that the company is still calculating the impairment ...
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News briefsAthleta experiences near-term softness on consumer shift
Athleta, The Gap, Inc.-owned women’s active and wellness brand, generated a 1 percent increase in second-quarter sales to $344 million, with year-over-year comparable store sales declining 8 percent for the six months ended June 30. Period revenues were 37 percent higher than in Q2/2019. Despite a modest slowdown in the ...
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News briefsJohnson Health Tech posts H1 loss despite revenue gain
Johnson Health Tech, the Taiwanese fitness equipment company, reported an attributable net loss of 328,254,000 Taiwanese dollars (€10.5m) against a profit of TWD 28,0002,000 for the six months ended June 30. H1 revenues for the parent of the Matrix, Horizon Fitness, Vision Fitness and Synca wellness brands rose 2.0 percent ...
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News briefs
Pegasus Intl. H1 footwear revenues step 36 percent higher
Pegasus International Holdings Ltd. reported a 36 percent increase in revenues from the manufacture and sales of footwear to $2,847,000 from $2,095,000 for the six months ended June 30. Total H1 revenues increased 51 percent to $5,261,000 from $3,479,000. Ebit was $556,000 against $70,000, with gross margin coming in at ...
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News briefsGlobe Intl. FY net declines 44 percent
Globe International, the Australian parent of the Globe, Salty Crew, Impala Skate, FXD Workwear and Dot Electric Skateboards, reported a 44 percent drop in annual attributable net income to 18,641,000 Australian dollars (€12.0m) for the 12 months ended June 30. Ebit fell 41 percent in the FY to A$27.5 million ...
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News briefsFarfetch Limited Ebit falls 29 percent in Q2
Farfetch Limited, the Internet platform for luxury goods, realized an 18.7 percent decline in attributable profit to $70.5 million from $86.6 million for the second quarter ended June 30. Ebit was down by 29 percent to $60.4 million from $84.7 million as the operating loss widened by 11.5 percent to ...
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ArticlePeloton Interactive posts $1.24 billion Q4 loss
Peloton Interactive’s CEO Barry McCarthy, in his quarterly shareholder letter, compared the interactive fitness company to a cargo ship like one he worked on as a high schooler, but perhaps he should have considered a cruise ship comparison given the company’s needs to attract more younger, female and value-oriented customers ...
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News briefsJD.com gets sales boost from sports, outdoor
JD.com, the Chinese supply chain technology and service provider, said sports and outdoor were two of six segments that posted double-digit sales growth in the second quarter ended June 30. During Q2, the group generated 5.4 percent revenue growth to 267.6 billion yuan renminbi (€40.0b). Service revenues rose 21.9 percent ...
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ArticleXtep profit jumps 38 percent in H1
The operating income of Chinese sportswear brand Xtep International rose 34.8 percent to 922 million yuan renminbi (€130.9m) for the six months ended June 30, with attributable profit increasing 38.4 percent to RMB 590 million (€83.8m). The operating profit margin slipped slightly to 16.2 percent from 16.5 percent. Total ...
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Article361 Degrees reports 8.7 percent gain in H1 operating income
361 Degrees, which has opted against an interim dividend to preserve cash for the long-term and help meet challenges, generated an 8.7 percent increase in first half operating income to 771.9 million yuan renminbi (€109.6m) for the six months ended June 30. The operating profit margin slipped to 21.1 percent ...
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ArticleE-commerce, DTC model bolstered Anta H1 Sales
Anta Sports Products recorded a 13.8 percent increase in first half revenues to 25,965 million yuan renminbi (€3,687.0b) thanks to contributions from its direct-to-consumer and e-commerce segments, which helped to offset a 34 percent sales decline in its traditional wholesale business that was adversely impacted by the pandemic. DTC sales ...
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ArticleFoot Locker lowers FY22 outlook slightly, but stock soars on CEO hire
U.S. retail chain Foot Locker, which operates 630 doors across Europe, has modified its FY22 outlook downward due to likely additional pressures on its H2 business. But the revision, coupled with a 9 percent decline in second-quarter sales and a 76 percent drop in Ebit for the period ended July ...
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ArticleBjörn Borg’s sales are down but own e-commerce posts strong growth
Group net sales from Swedish firm Björn Borg amounted to 161.5 million Swedish kronor (€15.2 million) in the quarter ended June 30, a decrease of 0.8 percent compared to the second quarter of last year. Adjusted for currency effects, revenues decreased by 4.2 percent. The sales decline was mainly attributed ...
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ArticleSuper Retail Group posts strong H2 comps
Super Retail Group (SRG), the Australian company that owns the Rebel Sport, Boating Camping Fishing (BCF) and Macpac retail chains, posted 2.8 percent annual sales growth to 3,550.9 million Australian dollars (€2,285m) for the 53 weeks ended July 2. Comparable store sales increased by 5.0 percent in H2, aided by ...
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ArticleNew Wave’s Sports & Leisure segment sees 53% sales growth in Q2
The Swedish-based New Wave Group, which owns sports brands like Craft and Cutter & Back and distributes several others, saw total sales in the second quarter ended June 2022 rise by 36 percent to 2,019 million Swedish kronor (€191.0m), with growth led by the rise in the top line of ...
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ArticleSigna Sports United results impacted by continued bike woes
Signa Sports United’s third-quarter results were negatively impacted by deteriorating consumer sentiment and persistent supply chain issues for its bike and e-bike business. The Berlin, Germany company adapted operations in the wake of heightened inflationary pressures and a worsening geopolitical landscape in its core European markets. The adjusted Ebitda ...
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ArticleLi Ning gets double-digit H1 sales gains from running, basketball
Operating profit (Ebit) at Li Ning Company increased 4.1 percent to 2,643 million yuan renminbi (€375.3m) for the six months ended June 30 as total revenues rose 21.7 percent to RMB 12,409 million (€1.76b). The six-month gross margin slipped to 50.0 percent from 55.9 percent. The H1 net profit attributable ...
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ArticleFila’s Q1 revenues boosted by Acushnet, royalty income
Fila Holdings group revenues rose 15.0 percent (+4.3% currency neutral) to a quarterly record high of 1,171,903 million Korean won (€820.3m) in the second quarter ended June 30. More than 18 percent revenue growth at Acushnet to KRW 828,977 million (€580.3m) fueled by solid demand in North America and a ...
