Financial insights for the sporting goods industry – Page 75
-
News briefsJohnson Outdoors’ Diving segment got the hardest hit
Strong Fishing, Watercraft Recreation and Camping sales after the corona-related lockdowns in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ending ...
-
ArticleAdidas ends in the red, sees upside
The German sportswear giant posted an operating loss of €333 million, compared with an operating profit of €643 million a year earlier, due to several coronavirus-related charges. These were mainly due to increased inventory and bad debt allowances, as well as impairment charges for retail stores and the Reebok trademark, ...
-
ArticleWolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
-
ArticleAcushnet’s sales fall by 35%
Acushnet, the American golf company controlled by Fila Korea, had a difficult start to the second quarter, but it witnessed a recovery in sales after lockdown eased and demand for golf products picked up again. Following the re-opening of its production facilities and distribution centers in late May, the company ...
-
ArticleFitbit’s Q2 sales fall as Covid-19 hits demand; EU probes Google merger
Fitbit reported a fall in second-quarter sales as demand for its devices slumped and warned the coronavirus pandemic would have a negative effect on full-year earnings. Second-quarter revenue fell 16.7 percent to $261.3 million, driven by a 30 percent decline in device sales. The wearable technology maker, which is preparing ...
-
ArticlePandemic harms American Apparel owner Gildan in Q2
Sales at Gildan Activewear, a Canadian group that bought American Apparel in early 2017 and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America, plunged in the second quarter as the company swung to a net loss, reflecting the impact of the coronavirus pandemic ...
-
ArticleLenzing's sales slump in H1 due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
-
ArticleAlpargatas thrives abroad in a challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues outside the domestic Brazilian market in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage ...
-
ArticleCrocs results fueled by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic. Revenues for the three months ended on June 30 declined by 7.6 percent from the year-ago quarter to $331.5 million, or by 6.0 percent on ...
-
ArticleUnder Armour posts heavy losses
Under Armour unveiled poor results for the second quarter, recording a net loss of $182.8 million, compared with a net loss of $17.3 million for last year’s corresponding period, as sales tumbled by 41 percent due to store closures related to the pandemic. About 80 percent of points-of-sale worldwide were ...
-
ArticleHanesbrands Q2 sales are almost flat from last year, despite the pandemic
Hanesbrands, the parent company of Champion and other apparel brands, posted revenues of $1.74 billion in the second quarter ended June 27, only slightly down from $1.76 billion in the second quarter a year ago, despite market disruption from the Covid-19 pandemic. Excluding sales of $119 million from the now ...
-
ArticleVF expects some improvement in the second quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
-
ArticleBasicNet first-half sales fall as Covid lockdowns force store closures
Kappa and K-Way owner BasicNet reported a 25 percent fall in first-half aggregate sales as it felt the impact of Covid-19 lockdown measures since January on all its markets. Aggregate sales for the period totaled €367.6 million, down from €484.8 million a year earlier. The figure includes commercial licensees of ...
-
ArticleHoka One One’s momentum saves Deckers Brands’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
-
ArticleGarmin thrives thanks to home fitness and cycling boom
Garmin’s fitness division saw revenues for the second quarter soar by 17 percent to $294.6 million, as the group benefited from the popularity of home fitness during lockdowns, with advanced wearables and Tacx indoor bike trainers doing well. With the easing of restrictions in May, cycling products proved very popular. ...
-
ArticleSigns of recovery for Puma after a difficult quarter
Puma’s revenues for the second quarter declined by 32.3 percent in euros to €831 million, or by 30.7 percent in local currencies, leading to a net loss of €95.6 million, compared with net income of €49.7 million for the year-ago quarter. Sales declined in all regions and all product divisions. ...
-
ArticleMoncler aims to double its online business by 2023
While releasing weak results for the first half of the year, marked by heavy losses, Moncler focused on the future and announced the acceleration of its digital transformation. After a fruitful collaboration with Yoox Net-a-Porter, it has decided to directly manage e-commerce, with a view to personalizing the customer experience. ...
-
ArticleShimano’s earnings rise by 26%
Shimano’s sales for the first half of the year decreased by 11.9 percent from the year-ago period to 160,255 million yen (€1.3bn-$1.5bn), hampered by lockdowns around the world in response to Covid-19 during the first quarter. However, sales improved in the second quarter due to the soaring popularity of cycling ...
-
ArticleCycling craze boosts Accell’s results
The soaring popularity of bikes after the lifting of lockdown restrictions led Accell Group to post strong results for the first half of the year. The post-Covid bike market has been doing especially well in Europe. The Dutch-based company’s sales surged by a whopping 53.1 percent in June, pushing total ...
-
ArticleMany Chinese sportswear brands issue sales warnings for Q2
As a result of lockdown restrictions implemented in China and elsewhere during the Covid-19 pandemic, several Chinese sportswear brands have released profit warnings for the second quarter of 2020. Xtep warned that retail sell-through dropped by low-single digits in the quarter. It also has higher-than-usual inventories. The group expects that ...
