Financial insights for the sporting goods industry – Page 71
-
Article
Descente in the red for H1 and the black in Q2
Descente ended the first half of its financial year on Sept. 30 with a net loss of 1,265 million yen (€10.2m-$12.0m), against a profit of ¥2,210 million for the year-ago period, as the economic impact of the pandemic hit its revenues. They declined by 34.9 percent to ¥42,897 million (€345.1m-$407.0m). ...
-
Article
Vista Outdoor’s shares soar on good results and upbeat guidance
Vista Outdoor, which includes brands such as Bell, Giro, Camelbak, Camp Chef and Bushnell Golf, saw its stock rise by 8 percent after posting strong results for the second fiscal quarter ended Sep. 27. It also released a positive outlook for the current quarter. Sales surged by 29 percent to ...
-
ArticleBullish about Black Diamond, Clarus withdraws bond offer
Clarus Corp. reported third-quarter sales for Black Diamond (BD) that bounced back from the second quarter, but they were still down by 8 percent compared with the third quarter of 2019. Still, the management said it remains upbeat and expects continued recovery into the fourth quarter. Overall, the parent company ...
-
ArticleDigitalization helps Adidas to recover
The Adidas Group made a strong recovery in the third quarter, approaching a normalization of its business, thanks largely to a 51 percent boost in e-commerce, coupled with a more a selective distribution policy. Mentioning its close relations with JD Sports Fashion and Zalando as examples, down to inventory sharing, ...
-
Article
Nautilus reaches record profits thanks to home fitness
As numerous gyms temporarily closed due to Covid-19, Nautilus experienced strong year-over-year sales increases in the third quarter with customers shifting to home equipment. New customer acquisition was up seven times during the quarter, leading the demand for many of the company’s home fitness products to continue to outpace the ...
-
Article
Acushnet’s profits double
The American golf company controlled by Fila Korea bounced back in the third quarter, with profits more than doubling compared with the year-ago quarter. Acushnet also witnessed a recovery in sales after lockdowns eased and demand for golf products picked up again as players returned to the golf courses. Following ...
-
Article
Dorel Sports posts a 22% sales increase and record earnings
Dorel Sports, whose brands include Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse, saw its revenues increase year-on-year by 22.1 percent to $305.6 million in the third quarter, marking the sixth consecutive quarter of revenue growth for the segment. Excluding the impact of foreign exchange rates, quarterly revenues improved by around ...
-
Article
Asics improves in Q3, but warns about second Covid wave
Asics reported better-than-expected third-quarter sales and revised upward its forecasts for the full year, but warned that fourth-quarter sales would take a hit from the second wave of the Covid-19 pandemic. Net sales rose by 4.39 percent to 103,309 million yen (€829m-$979m) in the third quarter as more people took ...
-
Article
Mizuno's weak results softened in the latest quarter
The impact of restrictive measures to contain Covid-19 in Japan weighed on Mizuno’s results for the first half of its fiscal year ending on March 31, 2021. The Japanese group’s revenues declined by 22.5 percent from the year-ago period to 66.2 billion yen (€537.7m-$639.0m). The gross margin narrowed by 2.0 ...
-
Article
Peloton booms
Beating analysts’ projections for an annual turnover of $3.63 billion, Peloton Interactive is projecting revenues of $3.9 billion or more for the current financial year, generating adjusted Ebitda of $300 million, after an impressive first quarter, compared with sales of $1.82 billion and adjusted Ebitda of $117.7 million in the ...
-
Article
GoPro swings to a profit
The American action camera specialist managed to post a profit for the third quarter thanks to a more intense direct-to-consumer (DTC) approach and strong sales of new products, which helped boost total revenues by 114 percent to $280.51 million. Analysts expected revenues of $234.5 million. GoPro’s net income for the ...
-
Article
New Wave focuses on costs savings
The New Wave Group, the Swedish company behind Craft and Cutter & Buck, said actions to prioritize costs, earnings and cash flow bore fruits in the third quarter. The operating margin gained 4.3 percentage points to 12.0 percent due to these efforts. It was only the second time in the ...
-
Article
Champion’s parent company unveils new strategies
Hanesbrands, the parent company of Champion USA, is about to take a new direction. After releasing mixed results for the third quarter, the group’s new chief executive, Stephen Bratspies, said it is conducting an in-depth review of its business to develop a growth strategy better tailored to the post-pandemic world, ...
-
News briefs
Superdry pushes e-commerce
Banking on Black Friday to maximize sales through e-commerce in spite of the new retail lockdowns, Superdry says it has launched new campaigns through its influencers that are delivering record levels of engagement. It will be focusing its energies in the area in the coming months with its new chief ...
-
Article
An unexpected profit for Canada Goose
Thanks to strong demand from China, Canada Goose posted an unexpected profit in the second fiscal quarter. After posting heavy losses in the first quarter, it has now returned to profits with a net income of 10.4 million Canadian dollars (€6.7-$8.0m) for the three months of its second quarter ...
-
Article
Better-than-expected results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
-
Article
Alibaba grows by 30%, misses Ant Group’s IPO
Confirming a recovery from the first wave of the Covid-19 pandemic in China, the Alibaba Group reported a 30 percent increase in overall revenues to 155.1 billion yuan renminbi (€19.9bn-$23.5bn) in the third quarter, leading to a rise of 28 percent in adjusted Ebitda to RMB 47.5 billion ($6.1bn-$7.2bn). The ...
-
Article
Higher prices boost Fitbit’s sales and margins
Fitbit reported revenues for the third quarter that rose by 5 percent from the year-ago quarter to $363.9 million, driven by higher average selling prices. The net loss grew slightly to $54.5 million on a GAAP accounting basis, but it declined sharply on a non-GAAP basis to $8.3 million from ...
-
Article
Best quarter ever for Polygiene
Polygiene reported its “best quarter ever,” with sales rising by 11.7 percent to 22.9 million Swedish kronor (€2.27m - $2.63m) and the gross margin rising by 0.5 percentage points to 70.4 percent, leading to a financial turnaround. The results led to a financial turnaround for the Swedish ingredient brand company, ...
-
ArticleCovid affected China’s biggest sports retailer slightly
Topsports International, which claims to manage the biggest network of directly operated stores in the Chinese sports market, reported a 7.0 percent drop in revenues to 15.77 billion yuan renmimbi (€2.0bn-$2.4bn) for the first half of its fiscal year, ended on Aug. 31. The gross margin contracted by 2.1 percentage ...
