Financial insights for the sporting goods industry – Page 67
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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.
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News briefsEcco had a challenging 2020, but continued to invest in the future
Ecco has remained financially strong despite last year’s Covid-related challenges. The company reported sales of in 2020, down 19.7 percent from €1.36 billion a year ago. It made a pre-tax profit of €44.7 million in 2020, down from €195.8 million in 2019, on 19.7 percent lower revenues of €1.09 ...
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ArticleDecathlon sees upside after a 6% drop in 2020
The Covid-19 pandemic weighed heavily on Decathlon’s sales performance in 2020. The parent company of the world’s largest retail banner, Decathlon United, reported today a sales decline of 6 percent in constant currencies to €11.5 billion in 2020, with major variations between countries and e-commerce more than doubling. However, the ...
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ArticleCycling boom boosts Dorel Sports
Dorel Sports, whose Dorel Industries sports segment includes bike brands such as Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse, saw its revenues increase by 13.8 percent year-on-year to $265.3 million in the fourth quarter, or by 15.9 percent in constant currencies. This marks the seventh consecutive quarter of revenue growth ...
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ArticleInline skating offsets Covid impact on Tecnica’s results
The Tecnica Group reported a drop of 9.8 percent in its revenues to €382 million in 2020, and said that it managed nonetheless to further improve its Ebitda by 10.7 percent to €55 million. The parent company of brands such as Nordica, Blizzard, Tecnica, Lowa, Boot and Rollerblade said its ...
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Article
Vulcabras ends 2020 on a high note
Vulcabras posted double-digit growth in the last three months of 2020, despite the impact of the pandemic on the shoe market in Brazil. Revenues rose by 22.8 percent from the year-ago quarter to 459.1 million Brazilian reais (€66.7m-$79.4m) and net income jumped by 21.1 percent to R$54.6 million (€7.9m-$9.4m). After ...
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ArticleAdidas ends 2020 with a small plus and a positive outlook
The Adidas Group ended the year with a small sales increase of one percent in local currencies in the fourth quarter, despite a challenging environment, especially in Europe, the only market that suffered a sales decline. As currency headwinds persisted, total sales were down by 5 percent to €5,548 million ...
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ArticleBlack Diamond’s parent sees strong growth
Clarus Corp., the parent company of Black Diamond Equipment and Pieps, announced that its revenues surged by 24 percent to $75.9 million in the fourth quarter, or by 23 percent in constant currencies. This was mostly due to the company’s ammunition division, particularly with gains in the Sierra Bullets business, ...
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Article
BasicNet makes a small profit despite a 15% drop in revenues
In contrast with some major U.S.-based brand licensors in the sporting goods sector, BasicNet managed to post a small net profit for the 2010 financial year, in spite of the impact from the Covid-19 pandemic, leading the board of directors to propose the distribution of a small annual dividend of ...
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Article
Globe’s profits surge
Globe International, the Australian-based multi-brand skate company, saw its net income soar during its fiscal first half, partly due to a favorable comparison base with the same period last year, when the U.S. introduced extra tariffs and the strengthening U.S. dollar weighed on profits. The group also benefitted from good ...
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Article
Foot Locker reports lower sales and profits
The share price of Foot Locker fell by 8.8 percent at closing on Feb. 26 after the international U.S.-based sports retailer reported a drop of 2.7 percent in comparable sales for the fourth quarter ended Jan. 30, with a 12 percent drop in same-store sales offsetting a 44 percent increase ...
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Article
Acushnet’s sales rise by 14%
Acushnet, the American golf company controlled by Fila Korea, had a strong finish to the year, with double-digit growth in profits and sales for the fourth quarter. After the re-opening of its production facilities and distribution centers in late May, the company saw strong sales across all segments of its ...
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Article
Wolverine posts weak results but is hopeful for 2021
The year 2020 was a difficult one for Wolverine Worldwide. Looking on the bright side, the management said it delivered better-than-expected results for the fourth quarter and is poised to drive an accelerated recovery over the next 12 to 16 months. The group posted a double-digit sales decline in the ...
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ArticlePolygiene reports record quarterly sales
Polygiene said that the fourth quarter of 2020 was the best in its history, with sales rising by 40.0 percent from the year-ago quarter to a record 26.6 million Swedish kronor (€2.7m-$3.2m). The growth was largely due to the success of Polygiene’s ViralOff in the context of the Covid-19 pandemic, ...
