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ArticleYue Yuen’s profit, sales slip in soft FY23
Yue Yuen, the globe’s largest manufacturer of footwear, suffered a down year in 2023 due to inventory de-stocking by retailers worldwide and conservative ordering by its portfolio of brand clients that include Nike, Adidas, Asics and New Balance, among others. Yue Yuen’s annual Ebit declined by 5.6 percent to $390.2 ...
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News briefsYue Yuen sells more, produces less in December
Sales at the manufacturing segment of Hong Kong-based Chinese company Yue Yuen Industrial fell 2 percent to $420.4 million in December, making it the first of 12 consecutive months with a decline as customers cut back on orders. Yue Yuen’s retail segment Pou Sheng grew 16 percent ...
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AnalysisThe world’s biggest sports retailers
Our annual analysis of the world’s largest sports retailers has the revenue of 50 companies and ranks their growth compared with last year.
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PDF NewsletterSGI Europe Executive Edition: Vol 34 - 43+44
Adidas inventory cuts improve; sees strong demand for Samba, Gazelle | On Holding maintains lofty objectives despite moderating wholesale revenues | Wolverine Worldwide lowers outlook as overhaul moves forward | Asics lifts FY outlook again as 9-month grows by 73% | Under Armour drops FY sales outlook on continued US woes | Topgolf Callaway reports earnings decline, lowers forecast | Canada Goose lowers FY24 outlook, increases reliance on DTC | FilaHoldings’ results hurt by challenges in US, Korea | Descente’s operating profit dips due to absence of one-time gain | CoDi sells Marucci Sports to Fox Factory | Intersport Germany sells Sport Voswinkel to Italian retailer | Nike Inc. makes executive changes to help “reimagine sport for the next generation of athletes” | Sport 2000 Austria: Zentrasport’s reorganization proceedings closed | Peloton Interactive aims to spin in right direction, but share price dips | GoPro expanding retail network, camera range | Acushnet’s Q3 operating income up 3.4 percent | Crocs taking steps to reset Heydude business | Alpargatas reports Q3 loss despite improving trends | Lower costs, inventory benefit Grupo SBF in Q3 | Below-average order fill rates continue to impact Yue Yuen | Elevate Outdoor Collective fills further key positions | Sweet Protection and Kari Traa are realigning in Central Europe
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ArticleBelow-average order fill rates continue to impact Yue Yuen
Profit attributable to Yue Yuen shareholders fell by 49 percent to $137.7 million from $270.1 million for the nine months ended Sept. 30, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by 38 percent ...
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News briefsPou Sheng nine-month results aided by stronger foot traffic
Operating profit at Pou Sheng, the retail subsidiary of Yue Yuen, increased by 51 percent to 515.7 million renminbi (€66.3m) for the nine months ended Sept. 30. Profit attributable to owners of the company rose by 224 percent to RMB 311.4 million (€39.9m) as retail foot traffic improved and the ...
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PDF NewsletterSGI Europe Executive Edition: Vol 34 - 33+34
Lululemon raises FY outlook; will aim to accelerate its unaided brand awareness | Wolverine sells Hush Puppies IP in China, divests US leather business | On officially announces entry into tennis category ahead of US Open | Baozun acquires intellectual property rights to Hunter for China, Southeast Asia distribution | Decathlon UK continues to grow despite challenging economic conditions | Thélios acquires Vuarnet | Sport-Tiedje becomes Peloton’s strategic partner in Germany | Mips invests in US sensor company | Performance Days expands product range and exhibition space | Crisis shapes Russian sporting goods retail | Decathlon Germany’s boss promoted to run Central, Eastern and Southeastern Europe | Atobi and Asics announce strategic partnership
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News briefsNew executive director at Pou Sheng
Pou Sheng has announced that Yuang-Whang Liao has resigned as an Executive Director and member of the Disclosure Committee, effective Sept. 4, 2023. Liao stated that he has no disagreement with the Board and that there is no matter to be brought to the attention of the shareholders of the ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 from $175,049,000 for the six months ended June 30, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000 from $223,948,000. The company cited a sluggish global macroeconomic environment and ...
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PDF NewsletterSGI Europe Executive Edition: Vol 34 - 29+30
Puma maintains full-year guidance despite challenging market as Q2 sales tick up 6% | VF Corp. slashes FY revenue guidance, reports wider Q1 loss | Hoka paces Deckers in Q1, company lifts FY guidance | Columbia dims FY outlook as Q2 net dips 17% | WFSGI announces leadership change | Adidas releases more existing Yeezy products in August | Skechers raises profit forecast as DTC and international shine in Q2 | European ski industry stands strong amid challenges | Sport 2000 Austria: Zentrasport initiates restructuring process | Moncler Group’s H1 revenues surpass €1 billion for first time | Adidas extends contract with Manchester United, guarantees €1bn over 10 years | Frasers scores double-digit FY23 revenue gains in all segments | Vulcabras Q2 results bolstered by locally made athletic footwear | U.S. growth in racquet sports translating to sales of softgoods | Crocs’ shares take hit as Heydude sales outlook tempered
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