News briefs – Page 8
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News briefsHanesBrands raises Q4 outlook and announces CFO departure
HanesBrands, the parent company of Champion and other apparel brands, has announced that it expects fourth-quarter 2022 sales to be slightly above the top end of its outlook range. The company has also adjusted operating profit at the midpoint of the range. Its fourth-quarter investor conference is scheduled for Feb. ...
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News briefsMunich expects 35% sales increase and opens new stores
Spanish sneaker brand Munich expects its sales to jump by around 35 percent in the full fiscal year ending March 31, 2023, to reach €65-70 million. In an interview with trade publication FashionNetwork, Munich CEO Xavier Berneda said that the company’s revenues are projected to exceed last year’s record sales ...
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News briefs
Anta Sports sees improving conditions in China despite soft Anta, Fila brand sales
Faced with lower retail foot traffic and consumer sentiment in the fourth quarter, largely related to ongoing pandemic impacts in certain regions of China, Anta Sports reported “high-single-digit” negative growth for its Anta brand and “low teens” negative growth of Fila branded products. All other branded products sold by the ...
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News briefsLululemon shares take hit after lowered margin outlook
Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...
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News briefsZumiez Q4 results should meet or exceed forecast
Zumiez, the retail operator of 766 stores worldwide, including 78 Blue Tomato banners across Europe, expects its fourth-quarter sales will be slightly higher than its forecasted range of $258 to $268 million, with corresponding EPS to be at the “mid to high end” of its $0.36 to $0.51 forecasted per ...
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News briefsXXL raises capital, warns of lower margins and exits Austria in 2023
Norwegian sporting goods chain XXL warns that lower margins will cut into Q4 profits and has decided to launch a NOK 500 million (€47.9m) targeted share issue. The largest owner Altor, led by XXL chairman Hugo Maurstad, has committed to a NOK 119 million (€11.4m) contribution. The capital from the ...
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News briefsNautilus completes refinancing of existing term loan, increases total credit facility
Nautilus, Inc. announced the amendment of its existing credit facility by refinancing the previous term loan with a new $30 million term loan, increasing the company’s total credit facility to $130 million. The credit facility previously consisted of a $100 million asset-based revolver and a $15 million term loan from ...
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News briefsDeporvillage raises its sales projections
Black Friday, it seems, has augured better than the second quarter for Deporvillage, which has raised its projections for current-year annual sales to €157 million, according to CMDsport. This would be just shy of the record haul of 2021: €160 million. The week-long pre-Christmas promotion brought in more than 86,000 ...
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News briefsChina Dongxiang reduces loss despite market challenges
China Dongxiang, which has been a publicly traded company for 15 years, lowered its net loss to 386 million yuan renminbi (€52.5m) from a loss of RMB 748 million for the six months ended Sept. 30. The six-month operating loss was RMB 392 million (€53.4m). Revenues dipped 8.9 percent to ...
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News briefsBjörn Borg reports strong e-com growth in third quarter
Björn Borg currency neutral operating profit, adjusted for non-recurring items, rose 1.5 percent to 53.2 million Swedish kronor. Reported operating profit declined 42 percent to SEK 30.6 million (€2.9m) from SEK 52.4 million for the period ended Sept. 30. The operating margin declined 12.3 percent from 21.8 percent in the ...
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News briefsFarfetch reports wider operating loss despite higher revenues
Farfetch Limited, the Internet platform for luxury goods, suffered a $218.5 million loss in the third quarter versus a $105.7 million loss in the year-ago period ended Sept. 30. The attributable net loss was $274.2 million against a profit of $767.2 million. Revenues increased 1.9 percent (14.1% in constant currency) ...
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News briefsMunich eyes another record in annual sales
For the first half of 2022 Munich enjoyed a year-on-year rise of 30.6 percent in revenues, from €24.64 to €32.18 million, according to CMDsport. The Spanish sportswear brand appears to be on track to break its record for annual sales, set last year at €52 million. Fashion is catching up ...
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News briefsYonex reported strong first half but braces for tough times ahead
Yonex, the Japanese sporting goods company, reported solid first-half results but warned that it anticipates tougher business conditions ahead due to raw material price hikes, the depreciation of the yen, inflation, and general economic condition. The group, however, said it will maintain investments in marketing and human resources “to sustain ...
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News briefsKMD Brands reports strong Q1 performance
KMD Brands, the former Kathmandu Holdings Ltd., achieved positive year-over-year sales growth for all brands in Q1 of its FY23 that ended on Nov. 6. Additionally, the group realized a NZ$30 million (€17.7m) year-over-year improvement in its operating profit for the period and said its gross margin is “holding up ...
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News briefsGoldwin revises FY outlook
Goldwin, the Japanese sports apparel company that also distributes a portfolio of own and licensed brands in certain regions, is now forecasting full-year sales to rise 7.9 percent to ¥106,000 million (€763.2m) for the 12 months ending March 31, 2023. Annual operating profit is expected to increase 3.0 percent to ...
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News briefsXponential Fitness lifts its FY22 revenue guidance
Xponential Fitness, the global franchisor of boutique fitness brands, has elevated its full-year revenue and adjusted Ebitda guidance and re-affirmed its outlook for studio opening and systemwide sales in North America. The California company, whose brand portfolio includes Row House, Pure Barre, and Club Pilates, among others, is forecasting 500 ...
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News briefsJohnson Health Tech narrows operating loss
Johnson Health Tech Co., the Taiwanese parent of the Matrix, Horizon, and Vision fitness brands and Synca massage chairs, lowered its year-over-year Q3 operating loss to TWD$115.5 million (€3.8m) from TWD$555.3 million. The profit attributable to owners of the parent improved to TWD$223.2 million (€7.3m) versus a loss of TWD$507.3 ...
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News briefsTechnogym posts 14.4% sales growth, with 47.1% increase in North America
Technogym, the Italian specialist in fitness equipment, has seen revenues increase by 17.4 percent, or 14.2 percent at constant currency, to €498,7 million in the first nine months of 2022. Growth was driven by B2C, with segment revenues doubling compared to the pre-pandemic period. The B2B segment also posted strong ...
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News briefseBay’s sales continue to decline
eBay has posted another revenue decline in Q3, which was marked by inflation and economic worries. In the quarter ended September 30, revenues fell five percent year-on-year to $2.4 billion. Adjusted income fell seven percent to $552 million. eBay has been struggling since the pandemic online order boom came to ...
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News briefsVulcabras continues gains from footwear portfolio
Vulcabras’ recurring net income rose 36 percent to 99.9 million Brazilian reais (€19.6m) from BRL 73.6 million for the period ended Sept. 30. Ebitda declined 4.8 percent to R$132.2 million (€25.9m) from R$138.9 million, as the gross margin improved to 37.7 percent from 36.1 percent. Net revenues were 24 percent ...
