GoPro widens losses
Sales for the U.S. action camera brand tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net ...
Moody’s and S&P forecast 15% sales decline at Amer
In a new report, rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda was a loss of €26 million for the first half, against a ...
Amazon’s Swedish website has leaked
After the entire website has leaked thanks to a Finnish software developer, one thing is for sure: After years of speculation, Amazon is finally being launched in Sweden. Until now, Swedish consumers and companies have only had access to the other European Amazon websites. According to the Swedish trade magazine ...
ITK and Bosch Research set up competence center for smart textiles
ITK Engineering, a German technology company operating internationally with customers mainly in the automotive and aerospace industries and a 100-percent subsidiary of the Robert Bosch GmbH since 2017, joined forces with Bosch Research to set up the Smart Textile Competence Center in the German town of in Rülzheim to investigate ...
Adidas ends in the red, sees upside
The German sportswear giant posted an operating loss of €333 million, compared with an operating profit of €643 million a year earlier, due to several coronavirus-related charges. These were mainly due to increased inventory and bad debt allowances, as well as the impairment charges for retail stores and the Reebok ...
Wolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
Fitbit Q2 sales fall as Covid-19 hits demand; EU investigates Google merger
Wearable technology maker Fitbit reported a fall in second-quarter sales as demand for its devices slumped and warned the coronavirus pandemic would have a negative effect on full-year earnings.
Acushnet’s sales fall by 35%
Acushnet, the American golf company controlled by Fila Korea, had a difficult start to the second quarter, but it witnessed a recovery in sales after lockdown eased and demand for golf products picked up again. Following the re-opening of its production facilities and distribution centers in late May, the company ...
Pandemic harms American Apparel owner Gildan in Q2
Sales at Gildan Activewear, a Canadian group that bought American Apparel in early 2017 and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America, plunged in the second quarter as the company swung to a net loss, reflecting the impact of the coronavirus pandemic ...
Lenzing's sales slump in H1 due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
Alpargatas thrives abroad in a challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues outside the domestic Brazilian market in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage ...
Crocs results fueled by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic.
Britain’s DW Sports will close all its stores
DW Sports, a big operator of gyms and sporting goods stores across the UK, has entered into administration, a British form of insolvency. All its shops and some of the gyms are set to be closed down, putting 1,700 jobs at risk, but DW plans to work with its joint ...
Rossignol sells Raidlight to its founder
The Rossignol Group has announced the sale of Raidlight Vertical, a French company specializing in footwear, apparel and equipment for trail running and ski touring, with an annual turnover of around €8 million. It will only keep and expand its Outdoor Experiences division, which organizes trail running, Nordic walking, mountain ...
FESI welcomes entry into force of FTA between EU and Vietnam
The Federation of the European Sporting Goods Industry (FESI) is welcoming the long-awaited formal entry into the Free Trade Agreement between the European Union and Vietnam (EVFTA) on Aug. 1. After more than eight years of negotiations, the EU and Vietnam will finally benefit from a free trade agreement that ...
Under Armour posts heavy losses
Under Armour unveiled poor results for the second quarter, recording a net loss of $182.8 million, compared with a net loss of $17.3 million for last year’s corresponding period, as sales tumbled by 41 percent due to store closures related to the pandemic. About 80 percent of points-of-sale worldwide were ...
Hanesbrands Q2 sales are almost flat from last year, despite the pandemic
Hanesbrands, the parent company of Champion and other apparel brands, posted revenues of $1.74 billion in the second quarter ended June 27, only slightly down from $1.76 billion in the second quarter a year ago, despite market disruption from the Covid-19 pandemic. Excluding sales of $119 million from the now ...
VF expects some improvement in the second quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
BasicNet first-half sales fall as Covid lockdowns force store closures
Kappa and K-Way owner BasicNet reported a 25 percent fall in first-half aggregate sales as it felt the impact of Covid-19 lockdown measures since January on all its markets.
Hoka One One's momentum saves Deckers Brands’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
Signa Sports United grows 39% in the third quarter
The online platform Signa Sports United, which includes the online and multi-channel retailers fahrrad.de, bikester, campz, addnature, Tennis Point, Outfitter and Stylefile, increased sales by 39 percent in the third quarter of its current fiscal year, ended on June 30. Based on the entire financial year to date, sales in ...
State aid further improves demand for sporting goods in Russia
According to a Moscow-based think tank, Romir, Russian households have spent a significant portion of their state aid for Covid-19 relief on sporting goods. The demand for sporting goods in Russia skyrocketed with the end of the country’s retail lockdown, Romir said. Overall sales were up by a factor of ...
Garmin thrives thanks to home fitness and cycling boom
Garmin’s fitness division saw revenues for the second quarter soar by 17 percent to $294.6 million, as the group benefited from the popularity of home fitness during lockdowns, with advanced wearables and Tacx indoor bike trainers doing well. With the easing of restrictions in May, cycling products proved very popular. ...
Signs of recovery for Puma after a difficult quarter
Puma’s revenues for the second quarter declined by 32.3 percent in euros to €831 million, or by 30.7 percent in local currencies, leading to a net loss of €95.6 million, compared with net income of €49.7 million for the year-ago quarter.
Decathlon and Kant expand joint operation in Russia
Decathlon continues to capitalize on partnerships with other retailers. While testing the concept of an internet marketplace in Belgium – the company confirms a report on the subject but details are missing - the giant French retailer is expanding its cooperation with Kant, one of the largest Russian sporting goods ...
Analysis: The market for sports equipment grew by 3.5% last year
By the estimate of Sporting Goods Intelligence, the global market for sports equipment grew by 3.5 percent, from $80,599 million to $83,459 million, over the course of last year. The 4.0 percent gain of 2018 had been slightly higher, after two years of nearly flat results.
Moncler aims to double its online business by 2023
While releasing weak results for the first half of the year, marked by heavy losses, Moncler focused on the future and announced the acceleration of its digital transformation. After a fruitful collaboration with Yoox Net-a-Porter, it has decided to directly manage e-commerce, with a view to personalizing the customer experience. ...
Shimano’s earnings rise by 26%
Shimano’s sales for the first half of the year decreased by 11.9 percent from the year-ago period to 160,255 million yen (€1.3bn-$1.5bn), hampered by lockdowns around the world in response to Covid-19 during the first quarter. However, sales improved in the second quarter due to the soaring popularity of cycling ...
Some brands will stop sourcing in Xinjiang
Last Thursday, a coalition of more than 180 civil society organizations urged the global apparel industry to stop sourcing in the Xinjiang region of China because of the “serious risk of forced labor.” Human rights activists estimate that at least one million Uighurs and other Muslims are held in prison ...
Positive numbers and a radical rescue plan for Bogner
Bogner, the sports fashion label based in Munich, has just published its figures for the 2019/20 financial year. According to their press release, the company generated €163 million in turnover. Earnings before taxes amounted to €2.6 million, up sharply from €0.3 million in the previous fiscal year. The company increased ...