Financial insights for the sporting goods industry – Page 48
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News briefsGoldwin’s annual operating profit up 11 percent
Goldwin’s revenues rose by 8.6 percent to 98,235 million yen (€756.4m) in the financial year ended March 31, while operating profit climbed by 11.2 percent to ¥16,501 million (€127.1m), better than a Feb. 10 operating earnings forecast calling for a 5.7 percent decline to ¥14 billion. But the reported annual ...
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ArticleFila’s Q1 operating profit dips on supply chain, Acushnet expenses
Fila Holdings group revenues inched 1.8 percent higher in constant currency to 1,073,563 million Korean won (€751.5m) and were 8.6 percent higher on a reported basis for the first quarter ended March 31. The revenue improvement was attributed to growth in Acushnet sales of 4.3 percent (12.9 percent on a ...
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News briefsTechnogym revenues up double-digits in all but one region
Technogym posted 17.8 percent growth in consolidated first-quarter revenues to €151.6 million, with all geographic regions reporting double-digit sales growth in the period ended March 31. Business-to-business sales, bolstered by double-digit improvement in all sub-segments, rose by 38.8 percent to €104.7 million; business-to-consumer sales, impacted international lockdowns but above the ...
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ArticleThule Group enters new categories, updates financial targets
At its capital markets day, the Swedish Thule Group has presented plans to enter the two new product categories in 2023: car seats – to be launched in Europe first, expanding worldwide in a second step – and dog transport products, starting with a dog cage. The company was also ...
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ArticleJD Sports lifts annual guidance despite footwear shortages
Britain’s JD Sports Fashion raised its annual profit outlook, despite a global shortage of key footwear styles and indicated upbeat sales so far this year. The company said it now expected profit before tax and exceptional items for the year to January 29 to be about £940 million (€1.1bn) and ...
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ArticleYue Yuen profit dips on retail drag
Yue Yuen Industrial reported a 10.8 percent drop in first-quarter net profit to $97.1 million compared to $108.4 million in the year-ago period ended March 31, as growing manufacturing capacity was overshadowed by weak sales at its Pou Sheng Intl. retail subsidiary due to the resurgence of Covid-19 in mainland ...
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News briefsDescente sees 12.4% sales gain as profitability improves
Descente, the Japanese sportswear company, saw sales in its financial year ended March 31 increase by 12.4 percent to 108,892 million yen (€815.1m), despite the fourth quarter being marked by new Covid-19 lockdowns in China and sluggish apparel sales due to the warm winter in South Korea. Sales of athletic ...
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ArticleMizuno hit record EMEA results last year
The Japanese company, bolstered by strong sales in running and golf, reached its highest ever annual revenue and operating profit in the EMEA in the financial year 2021. Total regional sales grew 37.7 percent to 17.9 billion yen (€137.8m) on a ¥1.4 billion (€10.8m) operating profit compared to a ¥0.3 ...
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ArticleTopgolf tees up earnings guidance rise for Callaway after strong Q1
Callaway Golf raised annual guidance after a strong first quarter, driven by its Topgolf driving range venues, where sales surged on pre-Covid pandemic levels after a slow start due to the Omicron variant and strong performances from its other segments. Revenue for the three months to March 31 rose 59.6 ...
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ArticleYonex bolstered by badminton in Covid recovery year
Yonex’s sales increased 44.5 percent to 74.4 billion yen (€573.5m) for the financial year ended March 31 as the Japanese company reported strong product sales growth in China on the strength of badminton. As the company recovered from Covid-19 impacts, annual operating profit soared by 553 percent to ¥6,738 million ...
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ArticleAsics profit dips 17 percent in Q1 (updated)
Asics Corp. recorded declines in operating income and net income for the first quarter ended March 31 as total revenues dipped 1.1 percent to 105,329 million yen (€811.0m) from ¥106,549 million. Strong sales growth of 12.2 percent in North America could not offset significant supply shortages and logistical disruptions caused ...
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ArticleGrupo SBF generates 88 percent sales increase in Nike business
Grupo SBF, the parent of Brazil’s top retail sporting goods chain in Centauro and a distributor of Nike in the South American market since December, reported a 401 percent increase in first-quarter adjusted Ebitda to 185,390,000 Brazilian reais (€31.5m) for the period ended March 31. Operating income came in at ...
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ArticleWolverine Worldwide hires Boston Consulting, re-iterates outlook
Wolverine Worldwide is maintaining its full-year outlook that calls for total FY22 revenues of $2.775 to $2.85 billion. This represents a 15 to 18 percent year-over-year increase with the DTC segment representing approximately 30 percent of global revenues and the international segment another 35 percent. Wolverine’s top three brands, Saucony, ...
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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) ...
