Financial insights for the sporting goods industry – Page 81
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Article
Strong momentum for Acushnet and Kjus
The management of Acushnet believes that each of its businesses is has a strong momentum in the new year. In particular, the American golf company controlled by Fila Korea expects that the Kjus brand will continue its rapid progress within golf, benefiting from the launch of a new Gemini rainwear ...
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ArticleNautilus re-launches its digital platform
Significant reductions in expenses in the fourth quarter helped Nautilus to reach a net income of $3.5 million, up from $1.4 million for the same period a year ago, in spite of sharply reduced revenues and a lower gross margin.
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ArticlePrimaloft will make more noise
No figures are available, but Primaloft is said to have become very profitable after growing for a while at a double-digit rate every year. Some of the profits are going to be reinvested in consumer-oriented advertising to build up brand awareness, probably starting with the autumn/winter 2021 season, to accompany ...
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ArticleBasicNet exceeds €1 billion in aggregate revenues for the first time
BasicNet, the owner of Kappa, K-Way and other brands, posted aggregate sales of €1,025 million, representing a 17.1 percent increase as compared to 2018, based on preliminary figures. The figure includes €742.9 million from commercial licenses and €282.4 from production licenses. The operating result before amortization and depreciation (Ebitda) of ...
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Article
Shimano buys Pioneer Sports Cycle assets
Shimano is planning to develop new products, web services and applications using certain assets of Pioneer Sports Cycle that it has acquired from Pioneer Corporation, the U.S. company that developed the first pedaling monitor and cycling computers in 2013.
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Article
Big loss at Fitbit pending Google’s bid
Google’s proposal to acquire Fitbit for $2.1 billion was approved by the latter’s shareholders on Jan. 3, but it is still undergoing regulatory scrutiny in the U.S. and Europe. In both areas, regulatory authorities have expressed concern that the health and other data being collected by Fitbit will be used ...
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Article
MIPS’ sales jump by 41%
MIPS, a Swedish supplier of helmet-based safety technologies intended to protect wearers against rotational movements, saw good growth in the fourth quarter, with sales rocketing by 41 percent from the year-ago quarter to 88 million Swedish krona (€8.3m-$9.0m). Adjusted for currency effects and acquisitions, and on an organic basis, they ...
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Article
Canada Goose lowers outlook due to Coronavirus impact
Canada Goose Holdings has drastically lowered its guidance for the financial year ending on March 29 due to the coronavirus outbreak and its impact on sales in Mainland China. The management said that the virus is affecting retail sales of its products both in China and in stores located in ...
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Article
New CEO for Rapala
In the midst of reforms to turn around the business, Rapala VMC has appointed Nicolas Warchalowski as its new chief executive, effective from March 1, 2020. He has had an extensive career in international consumer businesses, heading up companies such as BabyBjörn, Peak Performance and Haglöfs.
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Article
Moncler continues to grow, without Kering
The chief executives of Moncler and Kering have both denied press speculation about a possible acquisition of the Italian brand of luxury outerwear by the parent company of Gucci, Saint Laurent and other luxury goods brands, which spun off Puma two years ago. Indicating that there were no concrete plans ...
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ArticleMixed results for Thule
The phasing-out of low-margin contracts with OEMs (Original Equipment Manufacturers) in the U.S. had a negative impact on Thule’s sales of SEK 11 million Swedish kronor (€1.0m-$1.1m) for the fourth quarter, and accounted for half of the negative trend in the region. The Swedish company is known for its roof ...
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ArticleOutdoor and Fitness are Garmin’s power engines
Garmin’s revenues jumped by 18 percent to $1,102 million in the fourth quarter, once again lifted by fitness and outdoor products. Net earnings soared by 90 percent to $360.8 million.
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ArticleBrooks runs faster in EMEA, sues U.S. firm
Brooks Running has reported a sales increase of 18 percent in the EMEA region in 2019, led by the U.K., DACH (Germany, Austria and Switzerland) and France. Revenues grew in the U.K. by 39 percent, in DACH by 18 percent, and in France by 20 percent.
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ArticlePuma outperforms
Puma’s share price rose by 8 percent after the company reported better-than-expected results for the fourth quarter of 2019, with strong gains in Europe. Revenues jumped by 20.6 percent from the year-ago quarter to €1,479 million, while the operating profit (Ebit) surged by 46.8 percent to €55.2 million, and both ...
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Article
Return to profitability for Asics, despite weakness in Europe
Asics Corporation returned to profit for the full 2018 financial year, with net income reaching 7,097 million yen (€59.6m-$64.6m) against a loss of ¥20,327 million for the previous year.
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Article
GoPro ends the year on a high
The battered American brand of action cameras benefited from production delays in the third quarter, which pushed deliveries of GoPro’s new Hero8 cameras into the fourth quarter, leading the company to record strong results for the three months to Dec. 31.
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ArticleUnder Armour’s shares tumble on weak outlook
Investors were disappointed by Under Armour’s performance in the fourth quarter, sending shares down by 17 percent after the company published its results. The group ended the last three months of the year with a net loss of $15.3 million, weighed down by a $42.3 million hit from several accounting ...
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Article
Mizuno lowers its guidance
Weak sales in Japan and Asia in the third fiscal quarter ended on Dec. 31 have led Mizuno to lower its guidance for the full financial year. It now expects sales of 175,000 million yen (€1.5bn-$1.6bn) down from a previous forecast of ¥185,000 million, and net income of ¥5,200 million ...
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ArticleChampion’s sales rise by 40%
Thanks to an expanded product range and wider distribution, Champion’s global sales rose by 40 percent to $1.9 billion in the financial year ended on Dec. 28 excluding the brand’s mass market operations in the U.S., which have been terminated.
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ArticleDecathlon grows by 9.2%
Decathlon has reported a sales increase of 9.2 percent to €12.4 billion (before sales taxes) in 2019, with a gain of 9.1 percent in local currencies and including growth of 3 percent to €3.3 billion in the domestic French market. Globally, the number of transactions went up by 8 percent.
