Financial insights for the sporting goods industry – Page 43
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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 ...
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ArticleOn Holding AG keeps rolling on, raises FY guidance again
On Holding AG does not see its momentum with consumers worldwide slowing down, but it will slow hiring and reduce travel for the remainder of 2022, given current macroeconomic conditions. In raising its full-year outlook for the second time since early May, the Swiss company continues to strategize for “durable ...
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ArticleCanada Goose revenues rise 24 percent in seasonally small quarter
Canada Goose, confirming it has not seen any signs of slowing demand for its products, reported 24.2 percent revenue growth to 69.9 million Canadian dollars (€51.4m) from C$56.3 million in its first quarter. The Q1 operating loss widened by nearly 31 percent to C$80.7 million (€59.4m) from C$61.8 million, but ...
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News briefsFirst Decathlon City to open in Canada this summer
Decathlon is opening its first-ever Decathlon City in Canada. It will be located in Toronto’s Union Station at 65 Front Street W. The opening is scheduled for August, based on the company’s website, although a specific date is yet to be communicated. Decathlon City at Union Station will give customers ...
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ArticleHanesbrands remains committed to Champion despite difficult quarter
Despite a challenging second quarter for the business, Hanesbrands continues to make global investments and possesses high aspirations for Champion activewear. Facing a difficult comparison, Champion, a significant part of the group’s activewear segment, posted a 25 percent sales decline. Overall, the group’s activewear segment suffered a 44 percent decline ...
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News briefsIncome soars at Planet Fitness
Net income at Planet Fitness was up by 67 percent for the second quarter of this year and by 105 percent for the half, reaching €25.1 million and $43.4 million, respectively. The U.S. gym franchisor and operator’s revenues for the quarter and half amounted to $224.4 million (up by 63.5%) ...
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ArticleYue Yuen H1 profits dragged down by Pou Sheng
Yue Yuen reported a 2.8 percent increase in first-half net income of $175.0 million versus $170.3 million for the six months ended June 30. Six-month revenues fell by 2.0 percent to $4,709,792,000 from $4,807,087,000, however, manufacturing segment sales were up by 14.4 percent to $3.19 billion. Ebit declined 17.7 percent ...
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News briefsRevenues down at The Beachbody Company
The Beachbody Company posted total revenues of $179.1 million for the second quarter, down by 20 percent year-on-year and 3 percent from pre-lockdown 2019. The Southern California digital fitness and nutrition company saw digital revenues of $78.0 million, up 17 percent, for the period. On the plus side, digital subscriptions ...
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ArticleAsics Corp. H1 sales bolstered by running, hikes FY outlook
Asics Corp. reported a 9.8 percent increase in first half attributable net income to 13,562 million yen (€97.6m) from ¥12,350 million, fueled by a 13.5 percent gain in performance running shoe sales to ¥123,284 million (€887.6m) that included strong category increases in nearly all global regions. Operating income slipped 20 ...
