Financial insights for the sporting goods industry – Page 46
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ArticleFrasers Group recovers from Covid and posts rising profits
Frasers Group, the owner of Sports Direct, reported a “record-breaking year” following the successful recovery from the pandemic.
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News briefs
361 Degrees e-commerce sales rose 40 to 45 percent in H1
E-commerce was the strongest-performing segment for 361° Degrees during its first half, with sales up by 40 to 45 percent. Overall the Chinese company posted an increase in brand sales in the “mid-teens” during H1, as sales of 361° Kids brand products rose by only 20 to 25 percent. In ...
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News briefs
Sprinter eked out a rise in sales over 2021
Sprinter generated €399.9 million in sales over its financial year 2021, according to Diffusion Sport. The period ran through Jan. 31 of last year, and therefore includes the worst of the lockdowns. Although e-commerce sufficed under these conditions to produce a revenue increase of 0.6 percent, net profit was down ...
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News briefs361 Degrees Q2 sales increase
Group retail sales for the core 361° brand rose in the low teens year-over-year in the second quarter with revenues from the separate 361° Kids Brand segment improving 20 to 25 percent. Meanwhile, the company’s e-commerce sales jumped 40 percent year-over-year during the period. During the first half of 2022, ...
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ArticleXXL ASA’s Q2 profits dip 81% on lower sales
XXL ASA experienced decelerating sales and waning consumer sentiment for sporting goods in its Scandinavian markets from mid-May, which continued through June, a typically important month for the category. With CEO Pål Wibe slated to step down from the executive position today over disagreements regarding the company’s strategic direction, CFO ...
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News briefsFootway reports loss in Q2
According to an article in Swedish trade publication ehandel.se, e-commerce company Footway Group closed its second quarter with a loss of nearly SEK 27 million (€2.54m). The company’s sales also fell by SEK 100 million from SEK 387 million last year to SEK 282 million (€26.57m) in the second quarter ...
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News briefsKMD Brands updates annual guidance
KMD Brands, formerly Kathmandu Holdings, is now forecasting total annual sales of NZ$955 to NZ$965 million (€580.7m to €586.8m) for the 12 months ending July 31 after a record performance during a winter promotional period for its Kathmandu retail operation. FY22 Ebitda, excluding one-off, non-cash items, including government subsidies, is ...
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News briefsYue Yuen H1, June sales dragged down by retail subsidiary
Yue Yuen’s sales performance for June and the first half of 2022 was negatively impacted by results from its retail subsidiary in China, Pou Sheng International. Yue Yuen’s net consolidated first-half revenues are down 2.0 percent to $4,709,796,000 from $4,807,112,000 for the six months ended June 30. The results included ...
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News briefsAnta Sports Products updates first half results
Anta Sports Products, impacted by lower foot traffic and weakened consumer sentiment due to the pandemic resurgence in Mainland China, reported “mid-single-digit” growth in Anta branded product sales for the six months ended June 30. Fila branded sales declined low single digits year-over-year, and first-half sales of all other branded ...
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News briefsBH Fitness posts double-digit growth in the professional channel
Exercycle, the company behind Spanish fitness equipment company BH Fitness, saw global sales in the professional channel increase by 20 percent in the first half of 2022 compared to the first half of last year, CMD Sport reported. The company would normally expect sales in the professional channel to account ...
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News briefsPou Sheng Intl. sales fall nearly 25% in H1
Pou Sheng Intl., the subsidiary of Yue Yuen, realized a 24.6 percent decline in accumulated operating revenue to 9,864,815,000 yuan renminbi (€1.45b) from RMB 13,074,740,000 for the six months ended June 30. June revenues at Pou Sheng declined 14.7 percent in local currency to RMB 1,651,214,000 (€242.3m).
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News briefsBosideng makes strong gain in down apparel sales
Bosideng reported a 21 percent increase in annual profit to 2.06 yuan renminbi (€294.7m) for the 12 months ended March 31 as total revenues grew by 20 percent to 16.2 billion RMB (€2.32b). Annual operating profit inched 1.5 percent higher to 2.57 billion RMB as gross margin came in at ...
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ArticleSales up by 18.3% at Decathlon Spain
Decathlon Spain generated revenues of €2.034 billion (VAT included) in 2021, for a year-on-year increase of 18.3 percent. Net profit amounted to €96.7 million, of which €19 million was shared with its 11,910 employees. The Decathlon group’s revenues were up by 12.5 percent for the year. Online sales reached €326 ...
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ArticleIntersport Austria sees business model confirmed; outdoor, ski and bike lead the way
Intersport Austria reported revenues of approximately €325 million in the first half (ended March 30) of its 2022 fiscal year. This represents a 12 percent increase compared to pre-pandemic levels (first half of FY2019). These figures do not include Hungary, Slovakia and the Czech Republic. Source: Intersport ...
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ArticleNike net dips 5 percent on Greater China, persistent supply chain woes
The Nike group remains committed to further advancing its digital and direct strategies worldwide and anticipates a return to growth for its wholesale business in the financial year 2023 as it continues to grapple with elevated transit times for products and to recalibrate a Greater China business that has been ...
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News briefsZalando revises full year outlook due to macroeconomic challenges
Zalando has issued an update for Q2 2022 and revised its guidance for the financial year 2022 due to a further deterioration in macroeconomic conditions during the second quarter, with the EU consumer confidence index decreasing further in June, the company said. The Berlin-based online platform for fashion and lifestyle ...
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News briefsNike to exit Russia for good
According to multiple published reports, Nike, three months after suspending operations in Russia, has decided to exit the country altogether. Slated to report its fourth quarter and full fiscal year results on Monday, Nike’s planned withdrawal follows that of other U.S. firms, such as Coca-Cola, McDonald’s and Google, who have ...
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ArticleChina Dongxiang posts annual loss on lower revenues
China Dongxiang lost 1,747 million yuan renminbi (€247.6m) against a profit of RMB 1,811 million for the 12 months ended March 31. Total annual revenues slipped by 2.7 percent to RMB 1,916 million (€271.6m) from RMB 1,970 million. The gross margin fell to 63.9 percent from 65.6 percent. Assets at ...
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ArticleJD Sports doubles profits but sees flat earnings this year
U.K. retailer JD Sports Fashion has more than doubled annual profits but warns that inflationary headwinds mean that earnings could stand still in the current financial year. It has also highlighted governance issues under the regime of former chairman and chief executive Peter Cowgill, who was abruptly ousted last month. ...
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ArticleSport 2000 to present a more united image internationally
Sport 2000 closed the 2021 financial year with record sales of €5.3 billion, confirming its position in sports retail in the DACH region. Now the sports retail group wants to become more visible worldwide as “One Sport 2000,” as the group announced at this year’s General Assembly. “The specialty sports ...
