Latest Headlines – Page 138
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Amazon’s sales growth is slowing down
Amazon posted net sales of $113.1 billion in the second quarter ended June 30, representing a 27 percent increase as compared to the prior-year quarter - a significant slowdown from the second quarter of 2020, when sales jumped by 40 percent. Excluding a $2.5 billion favorable impact from changes in ...
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ArticleEarly end to industry lockdown in Bangladesh, new concerns over floods and China
We have started to hear reports of “panic buying” by various apparel companies that are sourcing finished products and materials such as elastane from Chinese suppliers as the new delta variant of the Covid-19 epidemic has started to cause some localized factory shutdowns in Beijing and at least four other ...
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The Swedish sports market grew by 4.5% in Q2, driven by e-commerce
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Sportmaster tests a Russian robot in its stores
Sportmaster, the leading sporting goods retailer in Russia, has successfully tested a prototype of a robotic merchandiser developed by a Russian scientific group, FIOP Rusnano. The tests were carried out by R2 Robotics, a startup belonging to the state-owned Rusnano Group. R2 Robotics’ robot merchandiser receives information to move around ...
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ArticleUnder Armour raises guidance again after a better-than-expected Q2
Under Armour raised its previous guidance for the full financial year while reporting better-than-expected results for the second quarter. Sales increased by 91 percent from the year-earlier quarter to $1,352 million, comfortably exceeding an analyst consensus for a top line of about $1,200 million. They were up by 85 percent ...
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ArticleClarus raises guidance as Q2 sales growth accelerates
Clarus Corp., the Utah-based parent company of Black Diamond and Pieps, saw its sales growth accelerate in the second quarter of 2021, with its top line increasing by 144 percent from the year earlier, when the impact of the Covid-19 pandemic was at a peak, reaching $73 million. Favorable consumer ...
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ArticleMoving into women’s activewear, Wolverine buys Sweaty Betty
Treading into interesting and promising new territory, Wolverine Worldwide unveiled its acquisition of Sweaty Betty, a fast-growing U.K.-based brand of women’s fitness and lifestyle apparel that was going to develop a collaboration with Merrell in the area of footwear. The all-cash transaction was closed on Aug. 2, giving the business ...
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ArticleColumbia lifts guidance after strong Q2, but CEO attacks freight “monopoly”
Columbia Sportswear swung to a second-quarter profit and raised its full-year 2021 forecasts but warned that “escalating” ocean-freight prices and ongoing port congestions were dragging on the annual outlook. The outdoor gear producer reported net income of $40.6 million for the three months to June 30, compared with a loss ...
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ArticleFoot Locker agrees to buy two chains in the U.S. and Japan
Foot Locker has announced two major acquisitions, one in the U.S. and the other one in Japan, where it is set to acquire Text Trading Company, which owns and licenses the upscale Atmos brand of sneakers and streetwear. It will be paying $360 million and an earnout for the Japanese ...
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ArticleCoDi sees “explosive” growth at Boa Technology
Compass Diversified (CoDi) highlighted the “explosive” growth of the recently acquired Boa Technology in its second quarter ended June 30, cautioning that the brand’s expansion is likely to slow in the second half of the year. Boa, which owns the Boa Fit System for shoe fastening, was acquired by CoDi ...
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ArticleVF raises FY guidance as Q1 sales and profits beat estimates
VF Corp lifted its annual guidance after posting better-than-expected earnings and sales in its first quarter ended June 30 as retail demand for the company’s top brands continued to recover from the impact of the Covid-19 pandemic. Revenues for the three months more than doubled to $2,194 million, compared with ...
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ArticlePuma prioritizes the wholesale channel
As already indicated in a previous profit warning, Puma ended the second quarter of its current fiscal year with a significant increase in sales. Revenue growth was particularly strong in North America, where the brand is gaining shelf space at some wholesale accounts where Nike and other competitors are pulling ...
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ArticleWolverine raises FY outlook again after strong Q2
Wolverine Worldwide raised its guidance for the full year for the second time after achieving strong results in the second quarter ended July 3, led by the record quarterly sales performance by its two largest brands, Merrell and Saucony, on which the group has been investing more than on the ...
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ArticleBasicNet posts double-digit sales increases in H1, approves multi-voting rights for longterm shareholders
BasicNet, the parent company of Kappa, Superga, Sebago, K-Way, Briko and other brands, has reported aggregated wholesale-equivalent sales of group products of €443 million in the first half of 2021, representing a 20.5 percent increase as compared to the same period last year. The figure includes commercial licensees’ sales of ...
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ArticleHoka drives Deckers’ growth in Q1, overtaking Ugg
Deckers Brands reported a first-quarter revenue increase of 78.2 percent to $504.7 million, leading to net earnings of $51.5 million against a loss of $6.9 million for the same period of last year. The company has raised its outlook and now expects net earnings of around $415 million for the ...
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ArticleGfK observes more reluctant consumer behavior in Germany
In its latest consumer survey for Germany, GfK has identified more cautious behavior among German consumers. Both economic and income expectations show moderate declines – caused by a noticeable increase in prices and inflation and by once again rising Covid-19 infection rates. However, the propensity to buy is likely to ...
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ArticleGarmin posts strong growth in all segments and regions in Q2
Garmin reported total revenues of $1.33 billion for the 13-week period ended June 26, which represents a 53 percent increase over the same quarter in 2020, with to double-digit growth in all segments. Net income of $317 million more than doubled from $184 million in the second quarter of 2020. ...
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ArticleBike business treats Shimano to an excellent first half of its 100th anniversary year
Further Covid-related temporary plant and port closures on the one hand, and unabated high demand for bicycle products and fishing tackle on the other, gave Japan-based supplier Shimano Inc. a hard time in the first half of 2021. However, unlike in the first half of 2020 (when the supplier had ...
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ArticleSuccessful first half year for Moncler, brand accelerates in Q2
Moncler Group reported consolidated revenues of €621.8 million for the first half ended June 30, compared to €403.3 million in the first half of 2020. Growth was 57 percent at constant exchange rates and 54 percent at current exchange rates. From April 1, 2021, the group’s financial report also consolidates ...
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ArticleFIBO postponed to April 2022
After the Covid-related rescheduling of the international fitness trade show FIBO from June to November, the team of organizer Reed Exhibitions (RX) has decided to postpone the show again and move it to spring, the original FIBO season. Consequently, it will be held again on a rotational basis in 2022, ...
