News briefs – Page 12
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News briefsS&P affirms Foot Locker’s BB+ issuer credit rating
Although the rating agency acknowledged that lower Nike sales would impact the retailer’s revenue and margins, S&P Global affirmed Foot Locker’s BB+ issuer credit rating with a stable outlook. S&P also sees volatile fashion cycles combined with long sourcing lead times due to ongoing supply chain challenges as a risk ...
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News briefsRecord loss for Footway in Q1
After the company’s profit warning in March due to supply chain problems and decreased demand, the Swedish Footway Group has now published its Q1 financial report. The Ebit result landed at -71.2 million Swedish kronor (€-6.8m), compared to a loss of SEK -12.8 million in the first quarter of the ...
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News briefsAlibaba cracks mark of 1 billion Chinese consumers
For the last fiscal year, Alibaba reported a record 8,317 billion yuan renminbi (€1,160 billion) in global gross merchandise value. However, revenue in the quarter ended March 31, 2022, climbed only 9 percent year-on-year to RMB 204.1 billion (€28.5 billion). This is the slowest growth ever, which the company attributes ...
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News briefsIcebug stays true to promoting a sustainable lifestyle as sales and profits rise
The Swedish footwear brand Icebug generated a 37.8 percent increase in annual net profit to 22.83 million Swedish kronor (€2.18m) for the 12 months ended Feb. 28 compared to SEK 16.6 million in the prior year. The financial year profit margin was 9.9 percent as total yearly revenues grew 38.9 ...
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News briefsWoolrich posts 22% sales increase
Woolrich achieved a 22 percent sales increase in 2021 compared to the previous year. The sales growth was primarily attributed to its new business mix, based on a renewed focus on directly operated retail via both the brick-and-mortar and online channels. Stefano Saccone, who joined Woolrich as CEO in 2019 ...
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News briefsBjörn Borg with best Q1 sales in history
Total net sales from the Swedish Björn Borg Group increased 22.7 percent to 226.6 million Swedish kronor compared to SEK 184.7 in the corresponding quarter last year. Operating profit was SEK 29.3 million (€2.79m), up 30.8 percent from last year’s SEK 22.4 million. Gross profit margin decreased slightly to 50.0 ...
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News briefsDunlop Sports exceeds expectations in Q1
Sales of Sumitomo Rubber Industries’ sports brands improved 27 percent in the first quarter, from 23,327 million Yen to ¥29,685 million (€219.85m), resulting in an operating profit of ¥3,980 million (€29.48m), up 61 percent from ¥2,468 million a year earlier. The group’s golf brands – Dunlop, Srixon and Cleveland – ...
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News briefsGoldwin’s annual operating profit up 11 percent
Goldwin’s revenues rose by 8.6 percent to 98,235 million yen (€756.4m) in the financial year ended March 31, while operating profit climbed by 11.2 percent to ¥16,501 million (€127.1m), better than a Feb. 10 operating earnings forecast calling for a 5.7 percent decline to ¥14 billion. But the reported annual ...
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News briefsTechnogym revenues up double-digits in all but one region
Technogym posted 17.8 percent growth in consolidated first-quarter revenues to €151.6 million, with all geographic regions reporting double-digit sales growth in the period ended March 31. Business-to-business sales, bolstered by double-digit improvement in all sub-segments, rose by 38.8 percent to €104.7 million; business-to-consumer sales, impacted international lockdowns but above the ...
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News briefsDescente sees 12.4% sales gain as profitability improves
Descente, the Japanese sportswear company, saw sales in its financial year ended March 31 increase by 12.4 percent to 108,892 million yen (€815.1m), despite the fourth quarter being marked by new Covid-19 lockdowns in China and sluggish apparel sales due to the warm winter in South Korea. Sales of athletic ...
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News briefsPou Sheng International reports April, four-month sales
Pou Sheng International, the distribution and retail subsidiary of Yue Yuen that issued a first-quarter profit warning ten days ago, yesterday reported a constant currency sales decline in April of 38.2 percent to RMB 1,205,473,000 (€170.3m) from RMB 1,949,603,000. For the four months ended April 30, Pou Sheng’s consolidated operating ...
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News briefsCompass Diversified consumer business paced by Boa
Compass Diversified’s (CoDi) branded consumer business was led by Boa in the first quarter ended March 31 as the closure system brand generated a 75 percent increase in adjusted Ebitda to $24.9 million from revenue growth of nearly 56 percent to $56.8 million as compared to $36.5 million. Elsewhere in ...
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News briefsChampion brand sales hampered by supply challenges
Champion constant currency global revenues increased 6 percent in the first quarter (3 percent on a reported basis) due to strong growth in the collegiate channel but would have risen 14 percent without product supply challenges that impacted parent HanesBrands, Inc. Brand sales outside the U.S. were 10 percent higher ...
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News briefsStella International Q1 revenues jump 26 percent
Stella International Holdings Limited, a Southeast Asia shoe manufacturer that is also a retailer, generated a 26.3 percent increase in consolidated first-quarter revenues to $383.3 million against $303.4 million. The sales improvement was bolstered by increased orders in its manufacturing business that led to full utilization of its production capacity. ...
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News briefs
Pou Sheng issues Q1 profit warning
Pou Sheng International, the distribution and retail subsidiary of Yue Yuen, will have a significant drop in profits and sales in the first quarter due to the re-emergence of Covid-19 in key Chinese markets, including Shanghai. Citing the pandemic’s impact on consumer demand and sentiment accelerated by lockdown measures taken ...
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News briefsAmazon's operating income tumbles
Amazon’s first-quarter revenue rose 7.3 percent year-over-year to $116.44 billion. Operating income, however, decreased to $3.7 billion and net loss was $3.8 billion. On a diluted basis, this resulted in a loss per share of $7.56. According to Amazon, this was mainly due to a $7.6 billion loss from the ...
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News briefsNew Wave rides 40 percent growth in sports & leisure
New Wave Group, the Swedish parent of sports brands Craft and Cutter & Buck and distributor of other labels, reported a 41 percent increase in first-quarter sales to a quarterly record 1,774.9 million Swedish kroner (€170.2m) as revenues in the Sports & Leisure segment also increased 40 percent. First-quarter ...
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News briefs
China Dongxiang sees sales slide in Q4, 2021
China Dongxiang reported a mid-single decline in retail sales at its Kappa and Kappa Kids’ stores in its fourth quarter ended March 31 with same-store sales down similarly. Full-year results were described as negative, with revenues down mid to high-single digits, as same-store sales declined 10 to 20 percent. The ...
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News briefs
Li Ning updates first-quarter sales
At Li Ning, first-quarter same-store sales rose in the “low 20s” for the period ended March 31. By segment, sales in the retail channel were up in the “mid-20s,” up in the “low teens” for the wholesale (franchised distributors) segment; and e-commerce revenues improved “mid-30s” year-on-year. The company ended the ...
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News briefsNew Wave Group expects to beat Q1 market expectations
Sweden-based New Wave Group, which owns brands such as Craft and Cutter & Back and distributes several others, said in a press release that it is forecasting higher sales and earnings than the market expectations for the first quarter. On April 12, New Wave said its operating profit for the ...
