ntersport Germany estimates that its retailers will reach a turnover at €2.57 billion this year. This figure is preliminary based on the headquarters’ figures by end of November. The result would correspond to an increase of 5 percent. Although we use a different definition of the market, Intersport estimates that the entire German sporting goods market (specialty retail and department stores, excluding retailing in bicycles, fishing, hunting and golf) is going to grow by 3 percent to some €7.3 billion.
The group’s calculations suggest that Intersport’s market share in the country is at 35.3 percent. Driving forces behind its success this year have been a very strong winter season in the early part of the year. From January through November, the snow sports and outdoor segments were up by 25 and 15 percent respectively. Team sports sales were down by 14 percent, basically due to the fact that 2009 has been a year without any major event in soccer. The group is optimistic that this will change next year thanks to the World Cup in South Africa.
Like in the past years, an increasing turnover is brought by a decreasing number of retail members. In 2009, Intersport Germany had 962 members compared with 986 in the previous year. On top of this, there are 68 (72) buying partners. Altogether these partners run 1,425 doors in the country, down from 1,437 a year ago.
Meanwhile the Swiss Intersport, Intersport PSC Holding, reports a 6.8 percent increase in its revenues to 262.7 million Swiss francs (€174.5m-$250.3m) for the financial year ended last Sept. 30, thanks to strong growth in central settlements in behalf of its retail members. They now operate 395 stores whose sales for the year were estimated at around 550 million CHF (€365.4m-$524.1m).
After a successful autumn-winter season, which benefited from excellent weather conditions, the summer months recorded a slight sales decline because of the economic situation. The company’s direct retail sales and its cash and carry business registered a sales decline as compared to the previous year, when it was boosted by the Euro 2008 football championships held in Switzerland and Austria.
Gross margins declined, but the operating profit grew by 73.7 percent to represent 1.4 percent of revenues, up from 0.8 percent. Net income rose by 20.5 percent to 3,001,000 CHF (€1.9m-$2.9m). The equity ratio improved from 65.3 to 71.2 percent.
The new financial year has had a promising start at the wholesale and retail levels, but while the results are expected to decline in the first half, they should remain stable for the full year.
After 13 years on its board, Hansueli Imholz has decided to resign as vice president of PSC Holding to devote more time to his own store.
