News briefs – Page 13
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News briefs
Intersport Spain’s sales up by 1.9% in Q1
According to CMDsport, sales at Intersport Spain were up year-on-year by 1.9 percent, to €57.5 million, for the first quarter of 2022. Full-year sales for 2021 amounted to €246 million, up by 15 percent from 2020 but still 14 percent shy of 2019’s €287 million. Although revenues are but halfway ...
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News briefsMoody’s lowers Boardriders’ debt rating
Moody’s has lowered the corporate family rating of the parent company of Quiksilver, Boardriders, Element, Roxy, RVCA and DC Shoes from Caa1 to Caa2 and the senior secured credit facility rating from B3 to Caa1. The rating agency cited weak credit metrics, including a leverage ratio of nearly 8x and ...
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News briefsSlinger with losses in Q3 shortly before anticipated app launch
Sports technology company Slinger, known for the Slinger Bag, reported a net loss for the third quarter ended Jan. 31 that widened 84 percent to $2.37 million from $1.29 million on a 2 percent increase in revenue to $4.20 million from $4.12 million. Slinger sold more than 7,200 tennis ball ...
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News briefsLuanvi expects 15% sales growth from increased international presence
Luanvi expects to see its revenues grow by 15 percent this year compared to 2021, with sales reaching €16.6 million. As reported by Palco23, growth is expected to come from expanded international presence through local distributors. The Spanish brand will put a special focus on Latin America and France. Luanvi ...
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News briefsDorel Sports grows by 5.8% in Q4
Dorel Sports, which is now listed as a discontinued operation in the accounts of Dorel Industries following its recent $810 million sale to the Pon Group, saw its net profit improve by 21.8 percent to $2.29 million in the fourth quarter ended Dec. 30, according to its parent company, although ...
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News briefsZalando reaches targets but publishes disappointing guidance
Zalando posted better-than-expected sales in 2021 but released a disappointed guidance for 2022, which prompted the company’s share price to drop nearly 10 percent on the day. In the full year ended Dec. 31, the German online fashion retailer posted a 29.7 percent increase in revenues to €10.35 billion, compared ...
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News briefsBjörn Borg reports successful Q4, ends year with strong momentum
From Oct. 1 to Dec. 31, 2021, the Swedish, Solna-based Björn Borg Group’s net sales amounted to 180.6 million Swedish kronor (€16.9m), an increase of 12.6 percent. Net sales of company-owned e-commerce and e-tailer businesses amounted to SEK 63 million (€5.9m) in the fourth quarter, an increase of 9.6 percent. ...
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News briefsUnder Armour announces $500 million share repurchase program
Under Armour’s board of directors has authorized the repurchase of up to $500 million of the company’s Class C common stock, effective immediately. Repurchases under this program may be made over the next two years through various methods, including open market transactions, privately negotiated or accelerated share repurchases. The timing, ...
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News briefsJD raises its profit forecast
JD Sports Fashion indicated a few days ago that it expects to report pre-tax earnings of at least £900 million (€1,074m) for the financial year ended Jan. 29, up from previous guidance of £750 million given in September and £810 million on Jan. 12. On the other hand, the international ...
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News briefsDunlop posts double-digit growth in Q4
Sumitomo Rubber’s Dunlop Sports business, which includes the Srixon, Cleveland and XXIO brands of tennis, squash, padel and golf products, reported a 29 percent increase in operating profit to 1.44 billion yen (€11.0m) from ¥1.12 billion, on fourth-quarter sales growth of 24 percent to ¥25.33 billion (€193.5m) from ¥20.46 billion. ...
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News briefsGloberide posts single-digit growth in Q3
Globeride, the Japanese parent company of the Daiwa golf and fishing brand, reported a third-quarter net income of 2.3 billion yen (€17.6 million), 5 percent more than in the same period of the previous year. Sales increased 8 percent from ¥26.9 billion to ¥28.9 billion (€221.2m). Sales in Europe declined ...
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News briefsDescente’s nine-month sales rise by 15%
Descente’s total sales grew by 15 percent to 76,681 million yen (€589.6m-$698.5m) in the nine-month period ended Dec. 31, 2021, with an increase of 13 percent in the third quarter, leading to an operating profit of ¥4,380 million (€33.7m-$39.9m) against a loss of ¥2,454 million in the corresponding nine-month period ...
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News briefsGoldwin forecasts 5.7% drop in operating income
Goldwin, the Japanese company whose brand portfolio includes territorial trademark rights or licenses for some western sports brands, is currently forecasting a 5.7 percent drop in annual operating earnings to 14 billion yen (€107.6m) for the 12 months ending March 31, 2022. Annual revenues are predicted to rise by 10.5 ...
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News briefsLuanvi posts double-digit sales increase
Luanvi, the Spanish sportswear manufacturer, posted revenues of €14.5 million in 2021, which represent a 25 percent increase year-on-year. The result also marks an improvement as compared to pre-pandemic levels, the company said. As reported by CMD Sport, the positive trend is continuing in 2022, as the company recorded a ...
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News briefsAnta Sports and Li Ning shares benefit from the Beijing Games
With the start of the Olympic Games in Beijing, the share prices of Chinese sports companies Anta Sports and Li Ning have risen, each by almost five percent in recent days. Analysts attribute this to a positive mood among the population due to the Games. The value of one Anta ...
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News briefsBodytone may have equaled its record year
According to CMDsport, Bodytone International Group appears to have equaled in 2021 its record annual sales of 2020, which amounted to €28.5 million. And the Spanish producer of fitness equipment is looking forward to an even better 2022. Speaking with CMDsport, one of Bodytone’s two CEOs, Joaquín Marín, projected a ...
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News briefs
Kappa has not been doing well in China
China Dongxiang struggled with the Kappa brand, for which it holds the rights in China, during the third quarter ended Dec. 31. The company indicated that retail revenues at Kappa and Kappa Kids stores in China declined by the mid-teens during the period, and that they were off by a ...
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News briefs
Puma grew by 14% in Q4 and by 32% in 2021
In a preliminary statement, Puma reports a currency-adjusted sales increase of about 14 percent to €1,767 million in the fourth quarter of 2021, leading to an improved operating profit of €65 million for the period, up from €63 million in the corresponding quarter of 2020. The results were achieved in ...
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News briefs
Stella International grows by 44.9%
A sales increase in consolidated revenues of 44.9 percent to $405.8 million in the fourth quarter of 2021 is expected to lead to an increase of 35.6 percent to around $1.5 billion for the full financial year, said Stella International, thanks to a continued recovery in orders for its shoe ...
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News briefs
Deporvillage posts record sales again
Deporvillage has met its targets and wrapped up an 11th consecutive year of growth. As CMDsport reports, revenues for 2021 amounted to $160 million, for a 40 percent year-on-year increase, and total customers worldwide now exceed 2.5 million, thanks to 700,000 new ones. The Spanish mutichannel sports e-tailer carries 100,000 ...
