Financial insights for the sporting goods industry – Page 83
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Article
VF lowers its outlook
In releasing its results for its third quarter ended on Dec. 28 on Thursday, VF Corporation said its business so far this year has performed at the high end of its group’s long-term growth objectives, but the management admitted that it will not be able to meet the targets it ...
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Article
Lululemon is riding impressive momentum
Lululemon Athletica seems unstoppable. Citing a strong holiday period, it has upgraded its revenue and earnings guidance for the fiscal fourth quarter ending on Feb. 2, 2020. The company’s shares, which nearly doubled in value last year, gained an additional 3 percentage points after the announcement.
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Article
Crocs raises its guidance
As it recorded its strongest fourth quarter ever, Crocs decided to raise its revenue guidance for the last three months of 2019. The company now expects revenues to have risen by 21 percent from the year-ago period, reaching a level of $260 to $262 million, up from a previous forecast ...
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News briefs
Stella International Holding's consolidated revenues drop by 10.9%
Stella International Holding posted consolidated revenues of $345.4 million in the final quarter of 2019, representing a 10.9 percent drop as compared to the same period in 2018. The Chinese group experienced an 8.6 percent decline to 13.8 million pairs in the volume of manufactured shoes, accompanied by a drop ...
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News briefs
Tradeinn was expecting to close out 2019 with about €150...
Tradeinn was expecting to close out 2019 with about €150 million in sales. The Spanish online retailer of sporting goods has instead achieved €188 million, for a leap of 40 percent from the previous year. According to the founder, David Martín, the group was already looking past its stated target ...
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ArticleXXL issues another profit warning
XXL issued a profit warning last week, citing particularly weak trading conditions in December and at Christmas. It said poor winter conditions in the big cities where it operates, combined with large price cuts from competitors, contributed to a sales drop of 12 percent on a comparable basis in the ...
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ArticleStella’s revenues drop by 2% on soft European market
Stella International’s revenues for the third quarter were down by 2 percent from the year-ago period to $447.9 million. The Chinese shoe manufacturer blamed the decline on its strategic decision to prioritize margin improvement over growth in shipment volumes.
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ArticleDigital-driven Nike gains market shares in Europe
As in the previous quarter, Nike grew more slowly in North America in the second quarter than in the rest of world, where it still has more opportunities to expand. It even picked up steam in the Europe, Middle East and Africa (EMEA) region during the period, in spite of ...
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ArticleMargins rise on lower sales in SDI’s sports stores
Sports Direct International decided at its general meeting in London on Dec. 16 to change its name to Frasers Group, as its £90 million (€105.1m-$116.5m) acquisition in August 2018 of House of Fraser, the embattled British department store chain, is adding a new dimension to the company that Mike Ashley ...
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Article
Yuen Yuen’s sales rise by 5.1%
Yue Yuen Industrial Holdings reported a 5.1 percent increase in sales to $7,519.6 million for the first nine months of the year, driven by its own retail operations. The Chinese company’s net income jumped by 12.1 percent from the year-ago period to $229.4 million. Revenues from Yue Yuen’s large manufacturing ...
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Article
Dorel Sports posts 14.2% sales increase
Dorel Sports, a division of Dorel Industries, registered revenues of $250.3 million for the third quarter ended on March 31, representing a 14.2 percent increase from the same quarter a year earlier, driven by strong performances at the Cycling Sports Group (CSG). Cannondale’s new line-up is driving CSG success, the ...
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Short stops
Sales jumped by 16.5 percent at Helly Hansen in the...
Sales jumped by 16.5 percent at Helly Hansen in the third quarter, reaching a level of $211.7 million, said its new parent company, Canadian Tire Corp.
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Article
Kjus and new clubs boost Acushnet’s results
After a disappointing second quarter, hampered by lower sales of Titlest golf clubs, Acushnet bounced back in the third quarter thanks to a strong performance from new products and the addition of the Kjus brand of premium functional apparel. The net income of the company, which is controlled by Fila ...
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Article
Delays affect GoPro’s results
Production delays pushed deliveries of GoPro’s new Hero8 cameras into the fourth quarter, leading the company to record weak results for the third quarter, but the drop was lower than what GoPro and the financial community had predicted. Revenues tumbled by 54.1 percent to $131.2 million, while the gross margin ...
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Article
China tariffs affect Thule
The additional 15 percent duties imposed by the U.S. in July on a variety of products coming from China have led several U.S. retailers to reduce their inventories and to some extent resulted in higher prices that have impacted consumer spending, said the Thule Group to explain a 2.0 percent ...
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Article
Strong gains at Alpargatas
The new owners of Alpargatas moved its head office to less expensive premises in São Paulo with a more collaborative layout during the month of August.
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Article
Under Armour boosts Vulcabras’ results
Vulcabras has reported a sales increase of 11.6 percent to 359.4 million Brazilian reais (€76.4m-$84.2m) for the third quarter of 2019, thanks in part to the higher-prices shoe that the company is selling with the Under Armour brand name in Brazil under its new contract with the American company. The ...
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Article
Canada Goose benefits from earlier shipments
Canada Goose Holdings saw revenues for its second fiscal quarter ended on Sept. 29 jump by 27.7 percent from the year-ago quarter to 294.0 million Canadian dollars (€201.1m-$222.4m), or by 28.3 percent on a constant currency basis. However, it said that part of the growth was due to orders for ...
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Article
Moncler’s sales grow despite Hong Kong riots
Moncler posted consolidated revenues of €995.3 million in the first nine months of the year, representing a 14 percent increase at current exchange rates versus the same period in 2018. At constant exchange rates, the increase was 12 percent. The double-digit revenue growth continued through the third quarter, with sales ...
