News briefs – Page 6

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    News briefs

    Gildan Activewear’s sales are down 9% in Q1 but in line with expectations


    Montreal-based apparel maker Gildan Activewear has announced net sales of $703 million for the first quarter ended April 2, 2023, representing a 9 percent decrease year-over-year. The company said that the sales drop reflected anticipated headwinds connected with the current demand environment and strong comparative periods in the first half ...

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    News briefs

    BasicNet’s Q1 direct sales lifted by K-Way France acquisition


    BasicNet’s Ebit was flat at €10.8 million in Q1 as Ebitda improved by 5.5 percent to €14.8 million for the period that ended March 31. Consolidated revenues grew by 27.7 percent to €108.0 million, including 36 percent direct sales growth to €91.4 million, aided by the group’s April 2022 acquisition ...

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    News briefs

    On revises its financial reporting by geography


    Swiss performance sportswear brand On announced that it will release its financial results for the first quarter of 2023 on Tuesday, May 16, which will also mark the first time it will update its net revenue reporting differently by region. Specifically, “Rest of World,” which represented the Middle East, Africa ...

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    News briefs

    Yue Yuen issues Q1 profit warning on weak order book


    Yue Yuen, which in mid-March warned of “gathering headwinds,” issued a Q1 profit warning late last week. The globe’s largest maker of footwear, citing a weak order book that impacted the operating efficiency of its manufacturing business, said net income is likely to decline by 40 to 45 percent to ...

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    News briefs

    ​Superdry confirms equity raise


    As reported by RetailWeek, Superdry has officially announced a capital increase to strengthen its balance sheet as part of a turnaround program. The brand intends to raise gross proceeds of approximately £12 million (€13.6m) by issuing new shares in a placing and retail offering. Founder and chief executive Julian Dunkerton ...

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    News briefs

    Market slowdown impacted Polygiene’s Q1 results


    Polygiene, which acquired former distributor Biomaster U.S. during the period, suffered a 38 percent decline in Q1 sales to 28.0 million Swedish kronor (€2.5m) and reported an operating loss of SEK 0.2 million versus a profit of SEK 9.3 million. The group cited inventory reductions by distributors and some manufacturers ...

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    News briefs

    Stella Intl. Q1 sales hurt by lower shipments but ASP improves


    Hong Kong-based Stella Intl. Holdings Limited suffered a nearly 26 percent drop in Q1 revenues to $277.4 million from $374.6 million. Year-over-year footwear shipments declined by 31 percent to 9.6 million pairs from 14.0 million in the year-ago period as certain sport and casual customers pulled back on ordering to ...

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    News briefs

    Li Ning updates Q1 results


    Retail sell-throughs for Li Ning, excluding the group’s Li-Ning Young business, rose by mid-single-digits year-over-year in Q1. The result was bolstered by high-single-digit growth in the offline channel and a mid-teens increase in the retail direct business. Q1 revenues to franchised distributors improved by a mid-single digit as the e-commerce ...

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    News briefs

    361 Degrees updates Q1 results


    Retail sales of core 361 Degrees products rose by a low-teens percentage in Q1, the Chinese company reported. Also, retail sales of 361 Degrees Kids branded products increased by 20 to 25 percent, and overall e-commerce sales were up 35 percent year-over-year.

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    News briefs

    Chinese firms offer Q1 business updates


    Anta Sports Products Limited reported sales increases for all businesses for the period ended March 31. Revenues for Anta branded products rose by mid-single digits year-over-year; Fila brand sales increased by high-single digits year-over-year; and all other brands generated 75 to 80 percent year-over-year sales growth in the period, the ...

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    News briefs

    Macron posts double-digit sales growth


    Italian teamwear brand Macron has announced sales of €169.9 million for the year ended Dec. 31, 2022, representing a 36.5 percent increase on the previous year at the core business level (net of personal protective equipment project) and “a growth never achieved before,” the company said. Compared to pre-Covid levels ...

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    News briefs

    Decathlon turnover rises 12%, beating IIC’s 2022 results


    French sporting goods retailer and manufacturer Decathlon continued its global growth in 2022. Despite an “unstable global economic and geopolitical context,” according to CEO Barbara Martin Coppola, turnover rose by 12 percent compared to 2021 to €15.4 billion. Online sales now account for 17 percent of the total turnover (after ...

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    News briefs

    Technogym results driven by B2B, North America


    Annual operating income increased by 4.9 percent to €82.8 million from €78.9 million for Technogym as the Italian company realized 14.9 percent constant-currency revenue growth to €721.5 million, driven by expansion in the business-to-business sector. Sales to consumers declined by 9.0 percent year-over-year to €165.4 million from €181.7 million but ...

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    News briefs

    Pádel brands should expect a reckoning, says Head exec


    Head Spain’s revenues rose by 46 percent last year to the record level of €27 million. Racquet sales accounted for some 70 percent of the total, and within that preponderance, pádel outsold tennis three to one. But this has not translated directly into retail sales. According to Head Spain’s business ...

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    News briefs

    SSU eyes return to profitability in FY24


    The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...

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    News briefs

    Anta wants shares to also be traded in Chinese currency


    Anta Sports Products is applying for approval from the Hong Kong Stock Exchange to allow its shares also to be traded in the Chinese yuan renminbi (RMB) currency besides the Hong Kong dollar under the dual counter model. The group said the change would be beneficial by allowing shareholders and ...

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    News briefs

    Beachbody’s connected fitness sales tumble


    U.S.-based subscription health and wellness company Beachbody’s connected fitness sales fell 87 percent in Q4 to just $4.75 million, down from $36.80 million a year ago. For the full year, revenue fell 11 percent from $42.74 million to $38.19 million. The cost of sales still far exceeds revenue, with $10.54 ...

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    News briefs

    HanesBrands completes refinancing of 2024 maturities; closes $900m Term Loan B financing


    HanesBrands has completed the refinancing of the last remaining series of its 2024 notes. The company said it successfully closed on an upsized new senior secured Term Loan B facility with an aggregate principal amount of $900 million. The net proceeds from the Term Loan B facility, together with the ...

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    News briefs

    BasicNet FY22 Ebitda rises by 38 percent


    The parent company of Kappa, Robe di Kappa, K-Way, Superga, Sebago and other brands reported a net profit of €11.2 million against earnings of €65.7 million for the 12 months ended Dec. 31, including a €60.9 million contribution from K-Way in the year-ago period. Annual Ebitda rose 38 percent to ...