Financial insights for the sporting goods industry – Page 48
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News briefsPou Sheng International reports April, four-month sales
Pou Sheng International, the distribution and retail subsidiary of Yue Yuen that issued a first-quarter profit warning ten days ago, yesterday reported a constant currency sales decline in April of 38.2 percent to RMB 1,205,473,000 (€170.3m) from RMB 1,949,603,000. For the four months ended April 30, Pou Sheng’s consolidated operating ...
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ArticleAllbirds adopts more cautious FY22 outlook
Allbirds, citing logistics, currency effects, and lower international sales as significant year-over-year headwinds, is taking a more cautious view of FY22. The six-year-old company is forecasting annual sales of $335 to $345 million, 18 percent gross profit improvement to a range of $170 to $177.5 million and adjusted Ebitda of ...
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ArticleBeachbody with losses in Q1, but above forecasts
The Beachbody Company, a U.S.-based subscription health and wellness company, reported total revenue of $198.9 million for the first quarter ended March 31, down 12 percent from 2021 and down 6 percent from 2019. Digital revenue was $81.7 million, down 14 percent from 2021; digital subscriptions were 2.46 million, down ...
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ArticlePeloton Interactive working to get wheels aligned as losses mount
Peloton Interactive’s bumpy ride to a turnaround that includes generating positive free cash flow in financial year 2023 is underway, but many paths remain to be taken before any destination is reached. CEO Barry McCarthy, a former Netflix CFO, has been on the job for exactly three months, and he’s ...
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ArticleZalando launches a profit warning as sales decline for the first time
Zalando posted the first decline in quarterly sales in its history and launched a profit warning for the full year. In the first quarter, the German online retailer reported a 1 percent increase in the gross merchandise volume (GMV) to €3.2 billion but a 1.5 percent decline in revenues ...
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ArticleUnder Armour tempers 2023 growth on near-term challenges
Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022. The company started a new fiscal year, FY23, on April 1 ...
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ArticleEMEA paces Havaianas’ growth for Alpargatas
Alpargatas realized 17 percent currency-neutral growth for its rubber sandal brand outside of Brazil in the first quarter to 342 million Brazilian reais (€58.2m) as total pairs sold increased 11 percent to 8.9 million. The EMEA region led Havaianas’ sales gains internationally, rising 25 percent currency-neutral to R$207.9 million (€35.4m) ...
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ArticleAcushnet sees supply chain constraints hamper results
Acushnet Holdings Corp. posted a 4.3 percent rise (+7.6 percent in constant currency) in consolidated first-quarter sales to $606.1 million against $580.9 million, but net profit dipped 4.6 percent to $81.0 million from $85.0 million. The operating margin declined 3.3 percent to 17.4 percent from 20.7 percent in the period ...
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News briefsCompass Diversified consumer business paced by Boa
Compass Diversified’s (CoDi) branded consumer business was led by Boa in the first quarter ended March 31 as the closure system brand generated a 75 percent increase in adjusted Ebitda to $24.9 million from revenue growth of nearly 56 percent to $56.8 million as compared to $36.5 million. Elsewhere in ...
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ArticleGoPro swings to Q1 profit as DTC sales boost revenues
Action camera maker GoPro swung to a surprise first-quarter profit, boosted by strong revenues from its DTC channel, subscription services and increased prices. Total revenue was up 6 percent to $217 million, with DTC contributing $89 million, a rise of 8 percent for the channel. Subscribers grew 85 percent to ...
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ArticleCrocs Bolstered by higher ASPs, Heydude acquisition
After a strong start to 2022, Crocs, Inc. is eyeing approximately $3.5 million in total annual revenues as it continues marching its way to longer-term objectives of $5+ billion in annual sales for the Crocs brand by 2026 and $1+ billion in annual revenues for the recently acquired Heydude brand ...
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ArticleAdidas reins in FY expectations as Q1 sales dip, China struggles
Adidas cut its expectations for gross and operating margins for the full year and projected that sales and net profit would come in at the lower end of guidance after sales dipped in the first quarter and as it continues to struggle in China, where new Covid-19 lockdowns have worsened ...
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News briefsChampion brand sales hampered by supply challenges
Champion constant currency global revenues increased 6 percent in the first quarter (3 percent on a reported basis) due to strong growth in the collegiate channel but would have risen 14 percent without product supply challenges that impacted parent HanesBrands, Inc. Brand sales outside the U.S. were 10 percent higher ...
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ArticleMoncler posts 61% sales gain in Q1
Moncler generated sales of €589.9 million in the first quarter of 2022, up a reported 61 percent on the year earlier and a 60 percent increase at constant currency rates. In the three months ended March 30, 2022, sales at constant currencies were also 58 percent higher than in the ...
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ArticleVulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
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ArticleRocky Brands posts strong Q1 sales, profits
Net income rose 61 percent to $7.34 million from $4.49 million for the period ended March 31, as total sales soared 90.5 percent to $167.03 million from $87.67 million. But the parent of the Durango and Xtratuf brands, among others, admittedly has work to be done cutting expenses and inventories ...
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ArticleMips reports excellent first quarter
In the first quarter of fiscal 2022, Swedish helmet technology and Brain Protection System (BPS) manufacturer Mips AB reported preliminary net sales of SEK 137 million (€13.22 million), an increase of 65.1 percent year-on-year. Organic growth amounted to 48 percent during the quarter. It is mainly based on the success ...
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ArticleAiresis sees FY losses narrow as revenues rise 41%
Airesis, the Swiss holding company that controls Le Coq Sportif and Movement Skis, saw its net loss in the year ended Dec. 31 narrow to 10.6 million Swiss francs (€10.4m) from CHF 23.4 million the year earlier as consolidated revenues grew by 41 percent to CHF 143.9 million (€140.9m), supported ...
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News briefsStella International Q1 revenues jump 26 percent
Stella International Holdings Limited, a Southeast Asia shoe manufacturer that is also a retailer, generated a 26.3 percent increase in consolidated first-quarter revenues to $383.3 million against $303.4 million. The sales improvement was bolstered by increased orders in its manufacturing business that led to full utilization of its production capacity. ...
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News briefsAmazon's operating income tumbles
Amazon’s first-quarter revenue rose 7.3 percent year-over-year to $116.44 billion. Operating income, however, decreased to $3.7 billion and net loss was $3.8 billion. On a diluted basis, this resulted in a loss per share of $7.56. According to Amazon, this was mainly due to a $7.6 billion loss from the ...
