Latest Headlines – Page 194
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Intersport International accelerates
Intersport International Corp. reports a currency-adjusted 2.3 percent increase in its global retail turnover to the equivalent of 5.5 billion Swiss francs (€5.0bn-$5.5bn) after VAT in the first half of this year, including a 3.1 percent sales increase in the second quarter. As previously reported, the group's biggest franchisee, Intersport Deutschland, ...
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Go Sport sells its Polish branch to Sportmaster
Rallye, the parent company of Groupe Go Sport, reported on July 25 that the French sporting goods retail group entered into exclusive negotiations on July 22 to sell its Polish retail stores to Sportmaster, the leading sporting goods retailer in Russia, following the receipt of a binding takeover offer. It ...
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A difficult year for Sports Direct
Sports Direct International's shares dropped sharply as investors worried about the strength of the group's core business following delayed and disappointing results for the full fiscal year ended April 28, compounded by new resignations.SDI's finance director, Jon Kempster, will leave in September after two years in the job to be ...
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Lower sales but higher margins for XXL
XXL ASA posted mixed results for the second quarter, with lower revenues but higher profit margins. As previously reported, the leading sports retailer in the Nordic countries is going through difficult times, admitting that it ended up losing money at the end of 2018 because of poor execution and overly ...
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Puma continues to gain market share
The Wild Cat keeps on running faster than its two biggest rivals. After growing by 15.3 percent in the first quarter of 2019, its sales leaped forward by 15.7 percent in local currencies during the second quarter, reaching a level of €1,227 million for the period. The growth was broad-based, ...
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Under Armour is weighed down by North America
Under Armour had a difficult second quarter, ending with a loss that was below analysts' consensus, sending the share price down by 15 percent. Its net loss narrowed to $17.3 million, against $95.5 million for the second quarter of 2018.The group's revenues inched up by 1 percent to $1,191 million, ...
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Skechers’ “global lens” approach pays off
Skechers posted another strong quarter, thanks to the ongoing impact of rapidly rising sales outside the U.S. After recording more than $1 billion in revenues both in the fourth quarter of 2018 and the first quarter of 2019, the company ended up again with record sales in the second quarter. ...
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BasicNet posts double-digit revenues and higher profits
BasicNet, the owner of Robe di Kappa, Superga, K-Way and other brands, closed the first half of 2019 with consolidated revenues up by 48.6 percent at current exchange rates, and up by 47.9 percent at constant exchange rates, to €137.8 million. Consolidated revenues were boosted by the addition of Sport ...
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Deckers narrows loss, sales up by 10%
Deckers Brands, the parent of Ugg and other footwear brands, managed to reduce its net losses significantly in its first fiscal quarter ended June 30, down to $19.3 million, as compared to $30.4 million for the year-ago quarter. Revenues climbed by 10.5 percent to $276.9 million, or by 11.6 percent ...
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VF raises its guidance after a good quarter
Thanks to a better-than-expected performance posted by Vans and The North Face, VF saw its reported revenues improve by 6 percent to $2,271 million for the fiscal first quarter ended on June 30. Adjusted to exclude the spin-off of its lower-margin Kontoor jeans business, the acquisition of Altra and Icebreaker, ...
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Record Q2 results for Columbia
Columbia Sportswear's net income rocketed by 137 percent to $23.0 million in the seasonally small second quarter ended June 30. One of the drivers was an exceptionally strong counter-seasonal business with Columbia's line of performance fishing gear, PFG, which is approaching an annual turnover of $200 million.The group's quarterly revenues ...
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Acushnet’s acquisition of Kjus makes sense
The sports equipment market had a pretty good year in 2018, particularly in the golf and winter sports sectors, as indicated in the previous article, but many companies involved in these two segments – such as Amer Sports, Callaway Golf and Rossignol – have lately sought some sort of diversification ...
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Shimano lowers its guidance
Shimano has lowered its full year outlook slightly after lower-than-expected sales and earnings for the six months to July 29. The company's net income declined by 10.6 percent from the year-ago period to 24,800 million yen (€204.7m-$228.4m) on 4.1 percent sales of ¥181,900 million (€1.5bn-$1.7bn).For the full year 2019, Shimano ...
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Accell accelerates with e-bikes, pulls out of Canada
Surging sales of electric bicycles in Europe boosted revenues for the Dutch company behind Haibike, Lapierre, Batavus, Raleigh and many other bike brands. Its turnover picked up pace in the second half of 2019, soaring by 7.4 percent to €682.6 million.The company's so-called core businesses, which exclude its North American ...
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Accell sells Canadian brand rights
However, the group's performance in North America failed to show improvement in the course of the quarter, as U.S. bike sales, which are now considered non-core, declined by 15.9 percent to €31.8 million, leading to a higher operating loss of €11.3 million in this segment.The management said it expects to ...
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E-bikes power Giant and Merida
Accell's results came after those of two Taiwanese competitors, Giant Manufacturing and Merida Industry, which also reported a steady growth of e-bikes sales during the first six months of this year. Last May, a Giant spokesman had announced that the company expected “a continuously robust” demand for electric bikes on ...
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Third-party sales weigh on Rapala’s revenues
Sluggish sales of third-party products distributed by Rapala VMC in Europe hit the Finnish-based group's revenues for the first half of the year. The company's sales edged down by 1 percent from the year-ago period to €141.2 million, or by 2 percent in constant currencies. Operating earnings tumbled by 25 ...
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Tacx helps Garmin to reach record results
Lifted by its recent acquisition of the Tacx brand of cycling accessories and by gains in running, Garmin's revenues for the second-quarter ended on June 29 reached a record level of $955 million, an increase of 7 percent over the year-ago quarter. The company has raised its outlook for the ...
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Fitbit’s shares tumble after poor smartwatch sales
Fitbit's stock lost as much as 18 percent of its value after the company lowered its guidance for the full financial year on disappointing sales for the second quarter of the company's new smartwatch model, the Versa Lite. Announced in March, the device is a spin-off of the Versa.Revenues from ...
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Slower growth for Thule
After a very strong start of the year, the Thule Group said that it grew at a slower pace in the second quarter. In constant currencies, the Swedish-based company's revenues grew by 3.0 percent from the year-ago period to 2,311 million kronor (€219.7m-$247.1m), hampered by currency headwinds. Its operating income ...
