Financial insights for the sporting goods industry – Page 57
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ArticleMoncler accelerated in Q3
The Moncler Group’s revenues grew by 55 percent on a currency-neutral basis to €555.5 million in the third quarter, including €100.1 million in incremental sales from the recently acquired Stone Island brand, whose results were consolidated as of April 1. Accelerating from the first half, the core Moncler brand saw ...
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News briefs
Intersport matched 2019 levels in the first nine months of 2021
Steve Evers, CEO of Intersport International Corp., tells us that the international retail network of Intersport returned to the 2019 level of €8.5 billion (including VAT) in the first nine months of 2021. The retail sales of the affiliated stores went up by 12.6 percent in the third quarter as ...
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ArticleAfter a Q3 sales miss, Columbia lowers FY sales outlook, raises profit forecast
Columbia Sportswear has lowered its sales outlook for the year but raised its profit forecast, despite weaker-than-expected third-quarter revenues due to supply-chain constraints. The group’s quarterly sales rose by 15 percent to $804.7 million, against forecasts of $862 million. Beating expectations, net income jumped by 60 percent to $100.6 million ...
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News briefs
Garmin performed better in fitness than outdoor in Q3
The fitness segment outperformed the outdoor segment in Garmin’s third quarter, ended on Sept. 25, but the company is still predicting 17 percent growth in both segments for the full financial year. Outdoor segment revenues fell by 3 percent to $323.8 million, due primarily to the timing of new product ...
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Article
Bike delivery problems sink XXL’s results
Delays in deliveries of bicycles continued to negatively affect the sales performance of XXL ASA, whose revenues in the third quarter declined by 4.8 percent to 2,688 million Norwegian kroner (€276.1m-$321.2), with a drop of 4.0 percent on a comparable store basis. As its profit margins were also squeezed, resulting ...
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Article
Puma’s brand momentum outpaces supply chain drags in Q3
Puma raised its outlook for full-year sales after reporting solid growth in sales and earnings in the third quarter ended Sept. 30 despite persistent supply chain headwinds and difficulties for Western brands in China. Sales in the three month period increased by a reported 20.0 percent to a quarterly record ...
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News briefs
Spain's Munich is on track for a record year
Munich, a leading Spanish shoe producer in the futsal category, is on track to break its record for annual sales, Diffusion Sport reports. Sales for the first half of this year, ended on Sept. 30, matched those of the equivalent period in its current record year of 2018. The owner ...
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Article
Shimano hikes guidance as bike segment soars by 30%
While reporting excellent figures for its third quarter ended Sept. 30, Shimano said it was expanding production capacity at its factories in Japan and overseas to respond to the growing global demand for its products, as Covid outbreaks have disrupted both manufacturing and logistics everywhere. Bike dealers’ inventories are still ...
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News briefs
Li Ning accelerated in Q3
Excluding sales at Li Ning Young stores, Li Ning performed better than a year ago during the third quarter ended in September, scoring a sales increase in the high 20s on a same-store basis at retail, compared with the low single-digit improvement recorded a year earlier. The company’s own direct-to-consumer ...
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VF raises sales outlook although supply chain strains cap Q2 growth
VF Corp. lost more than 5 percent of its value on the stock market after it published its results for its second quarter ended Sept. 30 on Oct. 22, but it has regained some ground since. The management improved its guidance for this year’s revenues to $12.0 billion from $11.8 ...
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News briefs
China Dongxiang’s Kappa sales dip
In contrast with other Chinese sportswear companies, China Dongxiang reported a mid-to-high-teens decline at its Kappa and Kappa Kids stores for its second quarter ended Sept. 30, with a mid-to-low single-digit drop on a same store basis. For the first half of the company’s financial year, sales were off by ...
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ArticleStella recovers and remains "cautiously optimistic"
The Hong Kong-based shoe manufacturer and retailer Stella International has reported a 27.5 percent year-over-year increase in third-quarter revenues to $439.3 million. The period marked a slowdown from the company’s recovery in the first half, due to a tougher comparative basis. In the first nine months of the year, the ...
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ArticleThule sees sales gains and rising costs
The outdoor trend, which kicked in shortly after the first Covid-19-related lockdowns, has once again brought good sales growth for the Swedish Thule Group. The trend toward outdoor and leisure activities closer to home continued to positively impact all of the group’s product categories in the third quarter. According to ...
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News briefs
361 Degrees returned to growth in Q3
Retail sales of the 361° branded products grew by a rate in the mid-teens during the third quarter, says 361 Degrees, outperforming the high single-digit increase that the Chinese sportswear company had reported for the same period a year ago. Its 361° Kids line did even better, rising by between ...
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ArticleCrocs posts an Ebit margin of over 32% on 73% higher sales
Performing better than what analysts had estimated, Crocs reported a sales increase of 73.0 percent in the third quarter to a record level of $625.9 million, with a gain of 72.2 percent on a constant-currency basis. The company posted an exceptionally high operating margin of 32.2 percent, up from 19.9 ...
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News briefs
Xtep grew at a mid-teens rate in Q3
Xtep International reported growth in the mid-teens for the third quarter of 2021 through all the channels as compared to the same period a year ago; when the Chinese company’s growth was limited to a mid-single-digit rate. Retail discounts averaged 20 to 25 percent and the retail turnover stood at ...
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ArticleClarus sees sales growing by 62% this year
Clarus Corp., the Utah-based parent company of Black Diamond and Pieps, said it expects to report a sales increase of 66 to 67 percent up to $107-$108 million for the third quarter ended Sept. 30, with a strong momentum across all brands. Black Diamond’s sales are expected to have increased ...
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News briefs
Anta reports gains at different speeds for the brands in its portfolio
Anta Sports Products reports that the growth in retail sales of its core Anta brand accelerated to a low-teens rate in the third quarter as compared to the single-digit increase posted in the same period a year ago, leading to growth in the mid-teens as compared to the third quarter ...
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Article
Boohoo launches a marketplace for fashion and sports goods
The Boohoo Group, the British fast-fashion online retailer that bought the brand name and the e-commerce operations of the Debenhams department store chain in January, is using it now to launch what it claims will be the biggest national online marketplace for sporting goods as well as fashion, cosmetics and ...
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ArticleTechnogym teams up with Dior
In its first move of the kind to support its upmarket image, Technogym has partnered with the creative team at the Christian Dior fashion house to develop an exclusive, limited-edition line of home fitness products. The stylish, black and white line includes a treadmill, a multi-function bench and a wellness ...
