All Article articles – Page 21
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ArticleFirst rebrand of Vista Outdoor's segment separation announced
Following the separation of its Outdoor Products and Sporting Products segments into two new, independent publicly traded companies, Vista Outdoor is to be rebranded. The new name, logo and NYSE ticker of the Sporting Products segment were unveiled on Aug. 10, in an employee town hall in Lewiston, Idaho.
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ArticleDespite positive signs, Bike24 posts further losses due to high future investments
In the second sales quarter of 2023, German e-commerce bicycle retailer Bike24 Holding AG brought in revenues of €62.9 million, down 6.1 percent compared to the same period in 2022. But there are some positives on the horizon, with the measures introduced to increase profitability beginning to show effects.
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ArticleGiant Group H1 down in the west but up in China
In the first half of 2023, Taiwan’s bicycle producer Giant Group reached consolidated overall sales of NT$42.58 billion (€1.22 billion). A 5.4 percent drop compared to the first six months of last year, but one region showed a strong sales performance.
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ArticleWolverine Q2 results slump, new CEO set to lead turnaround
Chris Hufnagel, who was just named the President and CEO of Wolverine Worldwide, Inc. with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and driving ...
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ArticleSea freight market easing but orders are also down
Freight rates for sea freight containers from the Far East have fallen to a stable low level, but retailers are placing fewer orders with their suppliers than in the previous year. This is according to supply chain experts at Setlog, a software company based in Bochum, Germany, who carried out ...
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ArticleClarus posts Q2 loss, revises FY guidance downward
Despite 28 percent year-over-year sales growth in the direct-to-consumer channel, Clarus Corp. reported a Q2 loss of $2.1 million against a profit of $3.8 million for the period ended June 30.
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ArticleFox Factory’s PVG & AAG sales increase offsets SSG sales decline
The bad news first: Suspension expert Fox Factory Holding Corp.’s (Easton Cycling, Fox, Marzocchi and Race Face brands) cycling business, grouped under Specialty Sports Group (SSG), slumped again in the second sales quarter of current FY 2023. The good news is that sales increases at its sister group Powered Vehicle ...
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ArticleSolo Brands lifts Ebitda margin as Q2 wholesale revenues soar
Solo Brands lifted its annual Ebitda margin target after a strong rise in second-quarter earnings and wholesale revenues. The owner of four lifestyle brands said wholesale revenues increased 57 percent to $31.3 million in the three months to June 30, compared to $19.9 million a year ago. Direct-to-consumer sales fell ...
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ArticleCoDi maintains guidance despite ongoing inventory headwinds
Net income from continuing operations in Compass Diversfied’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 68 percent to $6.94 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell ...
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ArticleInterest income and currency gains drive net profit in Garmin's Q2
Boosted by more than $29.6 million in interest income and gains on foreign currency, Garmin posted 11.7 percent net income growth to $287.9 million from $257.9 million. Without the two gains, the group’s profit would have been essentially flat for the period ended July 1. Second quarter operating income fell ...
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ArticleEOS 2023: First speakers and program content announced
Planning for the European Outdoor Summit (EOS) on September 28-29, 2023 in Berlin is in full swing and the European Outdoor Group (EOG) has announced the first speakers and program content: Philipp Meister, Global Fashion and Sporting Goods Lead at Quantis, is confirmed for his presentation “How to square ...
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ArticleWeyco posts higher profit, margin despite lower Q2 sales
Weyco Group suffered a 9.9 percent decline in Q2 sales to $67.0 million as the group’s portfolio of footwear brands faced difficult year-over-year comparisons and a wholesale market flush with inventory. Nonetheless, the group improved several operating metrics in the period ended June 30. Operating income rose by 18 percent ...
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ArticleOutdoor Research publishes first Annual Impact Report
Seattle-based company Outdoor Research (OR) published its inaugural Annual Impact Report, highlighting its commitment to sustainability, inclusivity and responsible corporate practices. The report is a tool OR will use to annually share its progress, achievements and future targets around its efforts as a responsible global corporate citizen. “The textile ...
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ArticleUSWE defies the challenges in Q1
USWE Sports AB, the parent company of USWE, Void Cycling and Giant Loop, has published its interim report for the first quarter ended June 30, 2023, showing growth and profit despite the difficult business environment. Net sales totaled 26.5 million Swedish kronor; an increase of 40 percent compared to the ...
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ArticleVaude reduces CO2 emissions by 5% while growing revenue by 13% in 2022
Responsible business practices and successful economics can be directly linked, as Vaude shows in its latest Sustainability Report. For years, the German outdoor company has been vigorously pursuing the goal of continuously reducing its ecological footprint and significantly cutting CO2 emissions as quickly as possible. To achieve this, the company ...
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ArticleColumbia cuts outlook as net falls 17% in Q2
Bloated inventories and challenging market conditions in the U.S. are forcing Columbia Sportswear to take a “more conservative” stance on its H2 and full-year results despite explosive year-over-year Q2 sales growth in China and in its lower-margin international distributor businesses. Saddled with a 21 percent year-over-year increase in Q2 ...
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ArticleVF reports wider Q1 loss and cuts guidance, TNF only revenue gainer
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleCiclo Fapril expands cargo bike frame production
To be at the forefront of the current cargo bike trend, the traditional Portuguese bicycle component manufacturer Ciclo Fapril, Industrias Metalurgicas, S.A., is expanding its production facility. The new space is expected to be completed in April 2024 and fully operational within a year. The manufacturer will start the production ...
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ArticleMicromobility.com considers acquisition of VanMoof
New York-based Micromobility.com Inc., a pioneer in sustainable transportation and micromobility services, has made a non-binding offer to acquire Dutch e-bike company VanMoof, which was reported as insolvent two weeks ago. According to a press release, Micromobility’s initial non-binding offer was well received. The company is now preparing to submit ...
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ArticleVista Outdoor appoints more executives for upcoming Sporting Products spinoff
Source: Business Wire Andy Keegan, Vice President and interim CFO for Vista Outdoor, has been appointed CFO for the Sporting Products Company following the spinoff. Vista Outdoor Inc, the parent company of 41 sporting goods and outdoor lifestyle brands, announced that its Board of Directors has made ...
