All Sporting Goods Intelligence articles in Volume 34, Issue 17+18
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PDF NewsletterSGI Europe Executive Edition: Vol 34 - 17+18
Adidas begins “bumpy year” with flat revenues, big operating income decline | Surge in Asian markets bolsters Asics in Q1 | Under Armour’s new CEO establishes strategy as latest earnings announced | Peloton makes more strides, prepares app and brand relaunch | Columbia’s Q1 revenues bolstered by early spring shipments, DTC channel | Topgolf Callaway beats Q1 forecasts but trims FY estimates as venue bookings slip | JD Sports Fashion proposes acquisition of Courir | Skechers raises full-year guidance after strong Q1, but braces for domestic wholesale headwinds | Long-term growth outlook for Champion is solid despite current challenges | Stormberg and XXL enter into a strategic partnership | Crocs raises FY revenue outlook, banking on markets outside U.S. to pace growth | Alpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1 | Acushnet Holdings posts solid results in seasonally strong quarter | Garmin with losses in EMEA and gains in Americas, sticks to FY outlook | Moncler Q1 revenues driven by DTC; new CEO for Stone Island | Vulcabras posts strong Q1 results
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ArticleSurge in Asian markets bolsters Asics Corp. in Q1
Significant recoveries in China, Southeast and South Asia and its home market of Japan were big contributors to Asics Corp.’s largest Q1 sales quarter ever as the company generated a 120 percent increase in operating income to ¥22,120 million (€161.5m) for the period ended March 31. Net profit attributable to ...
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News briefsWorld Athletics and the WFSGI to deepen collaboration
The World Athletics and the World Federation of Sporting Goods Industry (WFSGI) have signed a Memorandum of Understanding (MoU) to continue and strengthen their collaboration. (L) Sylvia Barlag, World Athletics Council Member and Co-Chair of the Shoe Working Group and (R) Robbert de Kock, President and CEO of ...
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ArticleTopgolf Callaway beats Q1 forecasts but trims FY estimates as venue bookings slip
Topgolf Callaway Brands beat earnings and sales forecasts for its first financial quarter but trimmed profit forecasts as corporate bookings at its Topgolf venues tailed off slightly at the end of the three month period.
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News briefsPou Sheng’s Q1 benefits from China recovery
Helped by the gradual recovery of in-store traffic and an acceleration in its digital business, Pou Sheng Intl. reported a 71.0 percent increase in Q1 operating income to yuan renminbi 332.7 million (€43.8m) from RMB 194.5 million as the operating profit margin increased by 220 basis points to 5.7 percent ...
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ArticleAmazon posts 9% sales increase in Q1
Amazon.com, Inc. posted net sales of $127.4 billion in the first quarter of 2023, representing a 9 percent increase versus the first quarter 2022.
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News briefsUnder Armour wins trademark lawsuit
Under Armour has won a trademark infringement lawsuit against Aditya Birla Fashion and Retail Ltd. Under Armour filed the lawsuit after it came across the defendant using the logo “Street Armor” on sports apparel. The Delhi High Court ruled that logos and motifs used by Aditya Birla Fashion and Retail ...
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News briefsNike announces new board member
Nike, Inc. has announced a new member of its Board of Directors, Maria Henry. Henry was Chief Financial Officer of Kimberly-Clark Corporation from April 2015–April 2022, and served as Executive Vice President and Senior Advisor of Kimberly-Clark Corporation from April 2022 until her retirement in September 2022. Prior to ...
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News briefsAdidas strikes deal for “gated” blockchain products
Through its /// Studio (read: three stripe studio), Adidas has struck a three-year deal with Tokenproof, which will authenticate blockchain tokens for the Adidas Confirmed app. The arrangement will provide an in-app checkpoint through which only holders of the NFT collection ALTS by Adidas can purchase certain ...
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News briefsAllbirds reports wider loss but outlines cost-saving measures
Having already revealed plans to slow the pace of U.S. store openings and a movement to a distributor model in key international markets, Allbirds reported a Q1 net loss of $35,166,000 against a loss of $21,878,000 for the period ended March 31.
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News briefsGrupo SBF adjusted Ebitda rises by 11.1 percent
Grupo SBF, the operator of Brazil’s top sporting goods chain in Centauro, posted 11 percent improvement in adjusted Ebitda to 205.9 million Brazilian reais (€38.4m) for Q1 ended March 31. Gross margin increased by 380 basis points to 50.0 percent from 46.2 percent, the highest margin as a group since ...
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ArticleStormberg and XXL enter into a strategic partnership
Sports chain XXL is to buy into the Norwegian clothing, shoes and hiking equipment company Stormberg. Under the agreement, XXL will be an exclusive partner for Stormberg. The collaboration is part of XXL’s strategy to strengthen its investment in its own brands.
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ArticleUnder Armour’s new CEO establishes strategy as latest earnings announced
Coming out of FY23 where sales and profitability increased but gross margin slipped due mostly to currency impact and the promotional environment in its home U.S. market, Under Armour is charging forward under new CEO Stephanie Linnartz with its new “Protect This House 3” objectives.
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News briefsMammut’s partnership with Climeworks continues
After first signing a a “Carbon Dioxide Removal (CDR)” agreement with the Swiss company Climeworks in Feb. 2023, Mammut is continuing its partnership with the direct air capture technology maker via a challenge on its Strava channel. Mammut is calling on members of its Strava club to run a minimum ...
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News briefsBlockchain and NFT sneaker trading marketplace secures $1 million investment
MetaZ Holdings, the owners of the Korean-based sneaker trading marketplace Meta[Z], has announced a $1 million Series A Investment from Pinewood Capital. On the Meta[Z] marketplce, sneakers are traded in the form of NFTs. The platform provides a service called Custody, which receives and stores sneakers in exchange for NFTs, ...
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C-Suite InterviewPicture Organic Clothing CEO: “The biggest challenge is the fight against greenwashing”
B-Corp snowboarding brand Picture Organic and its CEO Julien Durant want to challenge the fast-fashion mindset and lead with transparency
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ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
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ArticleJD Sports Fashion proposes acquisition of Courir
JD Sports Fashion Plc has announced a proposed acquisition of the French-based athletic footwear chain, Courir.
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News briefsFootlocker appoints former Nike exec. to WSS role
Foot Locker, Inc has announced the appointment of Blanca Gonzalez as Senior Vice President and General Manager of WSS, its banner which focuses on the Hispanic market in the US, effective May 15, 2023. Gonzalez joins Foot Locker from Nike Inc., where she served as Vice President of North America ...
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ArticleMarketing report on sustainability: “Companies need to be braver”
Marketing professionals want bolder decisions when it comes to their companies’ sustainability strategies, according to a new global marketing study.
