Latest Headlines – Page 176
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Columbia’s results are hit by Covid-19
After a brilliant financial year in 2019, Columbia Sportswear did not have a great start to 2020 due to the Covid-19 pandemic. Its net profits stood at just $0.2 million, down from $74.2 million for the year-ago quarter, while sales dropped by 13 percent to $568.2 million because of the ...
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An excellent quarter for Garmin in Outdoor and Fitness
Garmin’s fitness division had a stellar performance in the first quarter. Revenues in this segment soared by 24 percent to $180.3 million, as the group benefited from the home fitness boom due to the lockdowns in place in many countries. Sales were driven by advanced wearables and Tacx indoor bike ...
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Drop-shipping & online sales help Beachbody
Killick Datta, the legendary sporting goods industry executive who is now the global licensee of Beachbody for apparel and footwear, had told us at the Ispo show in Munich earlier this year that he was forecasting sales of $50 million this year for the line, after reaching a turnover of ...
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While sales tumble, Shimano’s profits soar
Shimano said its sales for the first quarter were down by 12.3 percent from the year-ago period to ¥76,920 million (€662.5m-$721.1m), hampered by lockdowns around the world in response to Covid-19. However, the company’s net earnings jumped by 95.6 percent to ¥19,663 million (€169.4m-$184.3m), mainly due to strong foreign exchange ...
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Big clearances help XXL through the Covid-19 crisis
The coronavirus pandemic has not come at a good time for XXL, which has been struggling in the past few quarters. But a major clearance program launched in reaction to poor winter conditions boosted its revenues during the first quarter, while depressing its margins.
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Wintersteiger posts double-digit growth for 2019
After the progress made in the past four years, the Wintersteiger Group has again reported strong growth for the 2019 financial year. The total turnover of the diversified Austrian-based engineering goup increased by 14 percent to €182 million, achieving an Ebitda margin of more than 10 percent. Growth was achieved ...
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ArticleThule grants warrants after a small sales drop
While withholding the payment of dividends to save cash because of the Covid-19 epidemic, Thule Group’s annual meeting approved an incentive program for executives and key employees after the company reported a relatively small 7.5 percent decline in sales during the first quarter of 2020, with drops of 13 percent ...
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Callaway’s shares rise on longterm prospects
Callaway Golf Co. released preliminary results for the first quarter which pointed to a drop in revenues and earnings due the coronavirus, but it expressed optimism going forward for its golf equipment and outdoor clothing operations, leading the share price to jump by 17 percent.
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Vista’s earnings to top guidance
In a business update, Vista Outdoor said that adjusted earnings for its fiscal fourth quarter will exceed its own guidance, adding that it has the support and financial flexibility required to navigate the Covid-19 pandemic. In addition to several brands from the fields of tactics and shooting sports, Vista’s portfolio ...
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Bucher + Walt offers drop-shipping in Switzerland
Drop-shipping can give brands a competitive advantage during the retail lockdown ordered by several governments to reduce contamination from the coronavirus. As previously reported, the current guidelines in Switzerland have been strongly criticized by the nation’s sporting goods retailers’ association, Asmas. Bucher + Walt, the Swiss distributor who bought Dakine ...
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ArticleStadium offers second-hand products and gear rentals
Stadium, the largest sports retail chain in Sweden with a strong presence in Finland, revealed a new partnership with Ebay to launch an online shop for second-hand sports and outdoor products as a new business segment. In Sweden, Ebay operates through a subsidiary called Tradera. Like most other retailers, Stadium ...
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ArticleAdidas fell by 19% in Q1, sees Q2 down by over 40%
The Adidas Group reported today a sharp drop in profit margins on a 19.2 percent decline in sales for the first quarter, due to the coronavirus outbreak, but warned that the second quarter will be worse. With more of its store base still closed right now, the management is expecting ...
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Moncler suffers an 18% sales drop in Q1 due to Covid-19
Moncler, one of the public companies that have weathered the collapse of the stock exchange best, saw consolidated sales decrease by 18.1 percent at current exchange rates, or by 18.4 percent at constant exchange rates, in the first quarter to March 31 as compared to the first quarter a year ...
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Decathlon inks a deal with a major Russian marketplace
As it has already done with Kant, one of the major multi-brand sports retailers in Russia, Decathlon has embarked on an unusual cooperation with a major Russian e-tailer, Ozon, which is pushing its own marketplace. The highly verticalized French sports retailer has announced a contract with Ozon to sell 1,500 ...
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UYN and others make masks and do more for Covid-19
Trerè Innovation, the Italian knitter of functional garments sold under the new UYN brand name – which stands for “Unleash Your Nature” – has converted its factory in northern Italy to make 10,000 face masks per day, while gearing up gradually for a re-start of the full production process at ...
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Skechers’ net falls by 55%
Skechers USA reported a drop of 54.9 percent to $49.1 million in its net earnings for the first quarter ended March 31 on 2.7 percent lower revenues of $1,242 million. In terms of local currencies, sales were down by 1.2 percent, with a small increase of 2.9 percent in the ...
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More fairs are cancelled
The Covid-19 pandemic is leading to the cancellation of more and more events because of the need for social distancing. In some cases, organizers are planning or exploring alternative formats that take advantage of the more or less sophisticated tools offered by the internet for the presentation of new products, ...
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Ecco enjoys another strong year
Ecco’s line of outdoor shoes proved very popular in 2019, driven by the Danish group’s focus on developing its retail portfolio to secure the right locations as consumer and traffic patterns change. During 2019, the store portfolio growth slowed to only six extra shops, with 200 openings and 194 closings. ...
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Some stores are re-opening in Germany
(Updated on April 23) After consultations with the state governors, German Chancellor Angela Merkel announced on April 15 that certain types of stores could open again from Monday April 20, after being shut down for five weeks. The retail lockdown for non-essential items was relaxed only for stores that have ...
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ArticleMcKinsey analyzes Covid-19 with WFSGI
After conducting consumer research and interviews with more than 25 industry players in the apparel and sports markets, McKinsey & Co. has made a series of interesting recommendations for best-practice actions that sporting goods companies can take to navigate through the current Covid-19 pandemic. They were presented in a webinar ...
