All Sporting Goods Intelligence articles in Volume 34, Issue 5+6 – Page 3
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ArticleNautilus sees lower retail order trend continuing
The fitness company, which has reduced its workforce by 15 percent and is lowering its annual expenses by $30 million, expects lower levels of retail re-orders that hampered Q3 revenues to continue through the first half of 2023.
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ArticleTopgolf Callaway lifts forecasts as venues offset weaker golf gear sales
Topgolf Callaway reported a rise in fourth-quarter revenues and pushed annual earnings forecasts higher after a strong performance from its driving ranges looked set to help cushion weaker demand for golf equipment this year.
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ArticlePPA reviewing legal options against WPT
The Professional Padel Association (PPA) is none too happy over the plans of the World Padel Tour (WPT) for the current year. The union has released a nine-point statement alleging breach of player contracts and describing the tour’s “unilateral” decisions as being “of a gravity without comparison, not only in ...
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ArticleHanesbrands shifts capital allocation strategy, shares plunge
Hanesbrands, the Champion parent, faced with numerous near-term challenges that are not expected to wane during H1, has lowered its guidance and eliminated its quarterly dividend, as it aims to accelerate debt reduction and shore up its balance sheet.
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News briefsParis 2024 unveils visual identity
The Organizing Committee for the Olympic and Paralympic Games (OCOG) for Paris 2024 has unveiled the “Look of the Games,” as the committee describes it in a statement. The visual identity of the upcoming Olympics was presented on Feb. 8 in Paris in the presence of Tony Estanguet, president of ...
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ArticleAsics posts double-digit sales gains in all regions in FY22
Asics Corp., bolstered by 24 percent annual revenue growth in its vital performance running business, reported significant improvements in revenues, operating income and net profit in its fiscal year ended Dec. 31.
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News briefsPádel takes the lead in Catalonia
The battle of racquet sports is hot in Catalonia, according to CMDsport. Back in 2019, for the first time, the ranks of the Catalonian Pádel Federation swelled past those of the Catalonian Tennis Federation. Tennis surged again thereafter but has since fallen behind again. For the past two years the ...
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News briefsUnder Armour announces three new brand stores in Britain
After reporting 33 percent growth in the EMEA region earlier this week, U.S. brand Under Armour (UA) has announced the opening of three new brand-owned stores in the U.K. over the next few months: Liverpool ONE, Liverpool: February Battersea Power Station, London: February Stratford Westfield, London: March ...
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News briefsWolverine sells Keds to North American retailer
Wolverine Worldwide has divested Keds, which it acquired in 2012 as part of its $1,249.5 million acquisition of the assets of the former Performance Lifestyle Group (PLG), for $83.6 million in cash to North American retailer Designer Brands Inc. The sale also includes the Pro-Keds athleisure brand and Keds’ e-commerce ...
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News briefsDecathlon signs Spanish mobility manifesto
Decathlon has signed the Manifesto for Active Mobility, one of four such documents put forth by a public-private joint partnership in Spain called (in translation) The Future of Mobility. (The other three concern multimodal mobility, urban logistics and electric mobility.) The objective is to decarbonize transport so as to “generate ...
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ArticleAdidas braces for a hard year ahead after a difficult 2022
In a press release on Feb. 9, Adidas warn of considerably lower revenues in 2023. If Adidas decides not to repurpose Yeezy prduct, 2023 could see an operating loss as low as €700 million.
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ArticleXXL ASA exiting Austria, raising new equity
The Scandinavian retail operator, facing historically low consumer confidence and lower demand for sporting goods in its markets, is taking major actions to improve its balance sheet.
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News briefsBabolat increasingly focusing on padel
In an interview with French online sport publication Sportbuzzbusiness.fr, Babolat’s sales director, Olivier Plancon, said that the company now expects padel to become nearly as relevant for the company as tennis, which remains its main sales driver. Padel currently accounts for 25 percent of Babolat’s business in Europe, and 20 ...
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News briefsZwift raises $620 million from backers
Zwift has raised $620 million from backers including Amazon’s Alexa Fund, KKR & Co. and Permira Holdings. According to Bloomberg, Zwift expects these investments to enable it to increase subscription prices, reach the milestone of ten million subscriptions (from roughly one million), take the company public and eventually invest in ...
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News briefsIronman broadens inclusivity with new divisions
Ironman has announced its updated 2023 global competition rules for the Ironman and Ironman 70.3 Triathlon Series, which will include new and modified athlete divisions focused on broadening inclusivity. The PC Open/Exhibition division has been expanded to include athletes with an intellectual disability, creating the Physically Challenged/Intellectual Disability (PC/ID) Open ...
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ArticleYonex hikes FY outlook on improving overseas trends
Yonex, which only three months ago warned of tougher business conditions on the horizon, has lifted its full-year outlook, citing “a recovery in demand, particularly overseas.” The Japanese company, which has baked higher raw-material costs and currency impact into its forecast, is now anticipating annual revenues of 106,000 million yen ...
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News briefsSiux signs retail deal
Siux has reached a deal for the sale of its pádel racquets throughout Spain via Tennis-Point, according to CMDsport. At present the retail chain operates nine physical stores, located in the provinces of Madrid, Barcelona and Valencia. The largest is in Madrid, followed by the one in Alfafar (Valencia) and ...
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ArticleGlobal Sports Survey: Women’s sports and media rights will drive industry growth
More than 75 percent of sports executives believe that women’s sports revenues will increase by over 15% in the next three to five years
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ArticleUnder Armour reports improved results, EMEA shines
With new President and CEO Stephanie Linnartz slated to begin her Under Armour career at month’s end, the company reported stronger third-quarter results for the period ended Dec. 31. Operating income increased by 9.9 percent to $94.7 million from $86.1 million as Ebit expanded by 37 percent to $140.4 million. ...
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ArticleSigna Sports United braces for slow first half
Signa Sports United calls the current headwinds it’s facing transitory and believes they should begin to subside in the second half of FY23
