Financial insights for the sporting goods industry – Page 67
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Article
Strong post-pandemic progress for Li Ning and Xtep
As they are only obliged to publish their results for the first half and the full financial year, some more public Chinese sporting goods companies published an operational update for the first quarter, following up on Anta Sports Products’ previously reported excellent post-pandemic figures for the period. Li Ning Company ...
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News briefs
Sequential narrows losses, but deadline looms
While reporting lower losses, the Sequential Brands Group, whose brand portfolio includes And1 and Avia, warned that it will not be able to comply with some of its debt covenants for the next 12 months. It is still negotiating an extension of a new waiver on a credit agreement expiring ...
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News briefs
Big sales jumps for Yue Yuen
Yue Yuen Industrial Corp. reported a 30 percent jump in total revenues to $870.9 million for the month of March as compared to a year ago, when the novel coronavirus pandemic shut down its manufacturing and retail operations in China. Revenues from manufacturing and retailing were up by 12 percent ...
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News briefsAnta Sports had a good start to 2021
In an operational update on the first quarter ended March 31, which relates to the performance of Anta, Fila, Descente, Kolon Sport, Sprandi and Kingkow, but does not include the businesses of Amer Sports, Anta Sports Products Limited said retail sales of Anta branded products advanced by 40 to 45 ...
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ArticleJD reports flattish annual results, despite Brexit and the pandemic
JD Sports Fashion Plc managed to report generally good results for the year ended Jan. 30, 2021 despite the impact from the coronavirus pandemic and Brexit, “which have severely tested all aspects of the business,” the management said. The company’s profit before exceptional items and taxes of 421.3 million pounds ...
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Article
Technogym’s overall revenues drop by 24%, but home fitness jumps by 71%
Technogym reported revenues of €510 million for 2020, representing a decline of 23.8 percent from 2019. The home fitness segment, strongly driven by stay-at-home measures during the Covid-19 pandemic, saw revenues jump by 71 percent to €154 million. The strong performance of the home fitness segment, which accounted for 30 ...
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ArticleAsos posts record profits on lockdown shopping boom
In the first half of its financial year ended on Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m). The company raised its expectations for the full year as it continues to benefit from the Covid-19 pandemic. While the switch to ...
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Article
Good performance for Stadium in Sweden
Stadium, the leading Swedish sporting goods retailer, performed relatively well in the financial year ended on Aug. 31, 2020, partly because of higher sales over the internet and looser anti-Covid restrictions in Sweden than in other countries. On the negative side, there was hardly any winter season between 2019 and ...
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Article
Centauro’s parent returned to a profit in Q4
The fourth quarter of 2020 saw a return into the black for Grupo SBF, the parent company of Brazil’s leading sporting goods retail chain, Centauro, and the new Brazilian distributor of Nike since December. After six difficult months, due to the Covid pandemic, the public company posted a net profit ...
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Article
Umbro’s parent narrows its losses
Lower trademark impairment charges allowed the Iconix Brands Group to reduce its net losses for the fourth quarter of 2020 as well as the full financial year, in spite of lower revenues from its licenses due to the Covid-19 pandemic. Another positive factor for the full year was a gain ...
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ArticleBetter-than-expected results for Thule Group
Thule Group achieved better-than-expected results in 2020 by riding the strong global bike trend that started in June. Sales rose by 11.2 percent from the previous year to 7,828 million Swedish kronor (€777.1m-$942.7m) or 13.1 percent in constant currencies. In its annual report, the Swedish company attributed these results to ...
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Article
Masks offset lower sportswear sales at Shenzhou
Shenzhou International Group Holdings, one of the major Chinese apparel manufacturers, reported nearly flat earnings and slightly higher sales for the year ended Dec. 31, thanks in part to its diversification into the manufacture of face masks, which were sold in large quantities in Japan. Its sales of sportswear, which ...
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News briefsGiant Group set further sales and profit records in 2020
For fiscal 2020, Taiwan’s largest bicycle manufacturer, Giant Group, reports total sales of 70.01 billion New Taiwan Dollars (€2.08bn-$2.45bn). This is an increase of 10.3 percent compared to the previous year. Rising global demand for both traditional and e-bikes also led to record profits. At TWD 4.95 billion (€147.29m-$173.43m), profit ...
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News briefs
Slinger Bag reports strong sequential growth
While beginning its diversification into the growing sports of padel and pickleball, Slinger Bag, the young supplier of portable tennis ball launchers recently quoted on the over-the-counter market, reports a strong sequential improvement in its quarterly revenues. They rose to $4.12 million in the third quarter ended Jan. 31 from ...
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ArticleFila overtakes Anta in China, Amer posts a loss
Anta Sports Products has released generally good results for the full year, despite the impact of the pandemic. Fueled by the continued progress of Fila’s joint venture for the Chinese market, the group’s total revenues rose by 4.7 percent to 35,512 million yuan renminbi (€4.59bn-$5.43bn), bouncing back from a difficult ...
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Article
361 Degrees’ sales drop by 9%
361 Degrees International saw its revenues decline by 9.0 percent in 2020 to 5,126.9 million yuan renminbi (€664.0m-$742.9m). The Chinese sporting goods company’s attributable profit went down by 4.0 percent to RMB 415.1 million (€53.8m-$60.1m). The gross margin dropped by 2.4 percentage points to 37.9 percent, mainly due to higher ...
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ArticleRip Curl remains an engine of growth for Kathmandu
Rip Curl continues to support the performance of Kathmandu Holdings. Acquired in October 2019, it allowed the Australian group to improve its revenues for the six months ended on Jan. 31, 2021, as it did before. The group’s total revenues progressed by 12.9 percent from the year-ago period to 410.7 ...
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ArticleLi Ning grows further, adjusting to the pandemic
Rising interest in exercise and fitness in China after lockdowns were lifted contributed to improve Li Ning’s revenues, which grew 4.2 percent to 14,456.9 million yuan renminbi (€1.86bn-$2.09bn) in 2020. Net income increased by 13.3 percent from the previous year to RMB 1,698.4 million (€218.6m-$246.1m). Excluding a one-time financial gain ...
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ArticleStella is cautiously optimistic about first half of 2021
Stella International is “cautiously optimistic” about order levels for the upcoming spring and summer 2021 seasons, although the Chinese shoe manufacturer still has low visibility for the second half of the year due to recent Covid-driven lockdowns in many countries around the world. Steady volume growth and margin improvement will ...
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Article
Nike impacted by store closures and shipping issues, despite China gains
The Nike group had mixed results in its third fiscal quarter ended on Feb 28., 2021, pulled up by sharply higher online sales and China’s strong growth on one side, and pulled down by transportation problems and the impact of the coronavirus pandemic on the other.
