All Financial results articles

  • Ideal Bike Corporation Logo
    Article

    At Ideal Bike, the market slump was accompanied by two client bankruptcies

    2024-03-19T10:43:00Z

    As we have already reported, the two Taiwanese industry leaders Giant Group and Merida had to contend with declining sales trends last year. Taiwan’s third-largest bike manufacturer, Ideal Bike Corporation, was hit even harder by some inherited loss-making issues. Last year, the Taiwanese company not only had to cope with ...

  • 22-merida-about-us-our-milestones-2011-paint-plants-factory-02
    News briefs

    Merida reports two-digit 2023 decline in sales and profit

    2024-03-19T10:22:00Z

    Taiwan’s second-largest bicycle manufacturer Merida Industry Co., Ltd. achieved total sales of TWD 27.16 billion (€787.84 million) in FY2023. Compared to 2022, this is a decline of 26.4 percent. Although Merida is also a public company, it only publishes the figures it is required to publish. At TWD 3.39 billion ...

  • Solo
    Article

    Solo Brands reports Q4 loss on impairment charge

    2024-03-17T16:57:00Z

    A goodwill charge of $249 million related to its Solo Stove, Oru and Isle businesses negatively impacted Solo Brands’ Q4 results. The operating loss was $240.8 million against an operating profit of $26.8 million for the three months ended Dec. 31. The Q4 net loss was $210.9 million against a ...

  • spinnova-Logo
    Article

    Spinnova reports disappointing FY, announces new strategy and job cuts

    2024-03-16T08:39:00Z

    Finnish sustainable fiber production specialist Spinnova, listed on Nasdaq First North Growth Market Finland, has closed its financial year 2023 with high losses and declining sales and has therefore announced a new strategic direction and a resulting reduction in staff. In 2023, Spinnova generated revenue of €10.6 million, which was ...

  • Leatt Logo
    News briefs

    Leatt generates higher DTC sales in down year

    2024-03-14T08:33:00Z

    Leatt, the South African developer and marketer of protective equipment for extreme and high-velocity sports, experienced the first indicators of a recovery in certain segments in Q4 despite 2023 being a challenging year for the cycling and motorcycle industries. The final period net loss was $1.46 million versus a ...

  • Giant Group Logo
    News briefs

    Giant suffers double-digit decline in sales, profit in 2023

    2024-03-14T08:33:00Z

    Taiwanese Giant Manufacturing group blamed the falloff on weak demand for entry- and mid-level bikes in Europe and North America and high inventory levels in the global market. The group did point out that there remains a “strong demand” for performance products in Europe and North America and that the ...

  • logo-ORIGINAL-BUFF
    Article

    Buff revises revenues for FY 2022-23

    2024-03-13T16:27:00Z

    Buff, as Palco23 reported back in September, reported consolidated revenues of €48.2 million for its full year 2023, which ended last April. Buff has since revised the figure to €47.8 million, as the same source reported in February. Either way, there was a decline from the €49.6 million of FY ...

  • Clarus logo
    Article

    Slimmed down Clarus focused on outdoor, adventure

    2024-03-11T09:52:00Z

    Having completed the divestiture of its former Precision Sport business on Feb. 29, Clarus Corp., the parent of Black Diamond, Rhino-Rack, Maxtrax and Tred Outdoors, says it has taken important steps to realign its brands and inventory levels and position its business for “long-term profitable growth as a pure-play, ...

  • coats-logo
    Article

    Coats sees rebound in footwear, albeit destocking lags behind apparel sector

    2024-03-11T08:03:00Z

    Coats expects modest revenue growth in 2024 as its markets started to recover in the second half of last year, helping it to deliver higher 2023 profits. The British group, which makes threads and components for the footwear and clothing industries, said destocking of inventories by footwear customers had lagged ...

  • snow_peak-logo
    Article

    Snow Peak’s lofty FY24 goals will be chased as private company

    2024-03-10T15:19:00Z

    Snow Peak, the upscale Japanese camping business, which went public a decade ago, will reportedly go private through a management-led buyout with Bain Capital as a partner in a deal valued at approximately ¥50 billion (€310m). The pending transaction was first reported several weeks ago by multiple outlets, including Mergermarket ...

  • rapala-vmc-logo
    Article

    Rapala VMC eyes operating profit return in FY24

    2024-03-08T06:55:00Z

    After a challenging FY23, where sales fell by double-digits in all its key geographic markets, Rapala VMC intends to return a full-year comparable operating profit this year, helped by retail inventory levels that are finally returning to normal levels. Other factors projected to bolster results for the Finnish outdoor group ...

  • Amer_Sports_Logo.svgz
    Article

    Arc’teryx helps Amer Sports grow sales in first quarter as public company

    2024-03-06T04:35:00Z

    Thirty-four days after raising $1.365 billion in an NYSE IPO, Amer Sports conducted its first earnings call as a public company yesterday. While the Arc’teryx, Salomon and Peak Performance parent delivered Q4 revenues some $20 million above expectations, the quarterly loss was wider than expected. Amre’s shares finished the trading ...

  • Rockey Brands
    Article

    Rocky Brands’ Q4 sales drop 9.3% due to unexpected headwinds

    2024-03-01T08:36:00Z

    Rocky Brands reported sales of $126.0 million in the fourth quarter of 2023, down by 9.3 percent compared to the year-earlier but still an improvement on the previous quarter and the slowest rate of sales decline for the year. Sales were down by 6 percent when service brand sales, divested ...

  • Compass-Diversified
    Article

    CoDi believes inventory will become tailwind in 2024

    2024-03-01T07:56:00Z

    After a difficult 2023, where inventory destocking negatively impacted results at its four outdoor-related businesses, Compass Diversified (CoDi) is banking on a “much higher level of growth” for many of its consumer businesses this year. Additionally, the group, which has eyes on more companies and brands in its portfolio, says ...

  • Corporate_StromerCampus_210920_02_0
    Article

    MyStromer reports sustainable growth in 2023

    2024-02-29T15:25:00Z

    Despite the major hurdles that the bicycle industry had to overcome last year – overstock, liquidity bottlenecks, etc. – bicycle supplier MyStromer AG was able to score points. Without disclosing detailed sales figures, the Swiss manufacturer of the Stromer and Desiknio brands closed FY2023 with consolidated sales growth of 10 ...

  • Fox
    Article

    Fox Factory’s SSG sales drop weighs on the overall result for FY23

    2024-02-24T16:02:00Z

    While Fox Factory’s former Powered Vehicle Division (split in Q2 2023 into the Powered Vehicle Group (PVG) and Aftermarket Applications Group (AAG)) scored with sales growth, the Specialty Sports Group (SSG), which operates the bicycle product brands Easton Cycling, Fox Suspension, Marzocchi and Race Face, ended up with a two-digit ...

  • Angling Direct
    News briefs

    Angling Direct announces 10% sales increase

    2024-02-23T18:11:00Z

    U.K.-based fishing tackle retailer Angling Direct saw its revenues increase by 10.2 percent to £81.7 million (€95.7m) in its latest financial year to January 2024. Domestic sales grew 9 percent to £77 million (€90.2m), boosted by new store openings in Cardiff and Yorkshire. The company now has 47 stores across ...

  • WOLVERINE-WORLDWIDE-INC.1
    Article

    Wolverine progresses with turnaround, but faces further setbacks

    2024-02-22T07:48:00Z

    Six months on the job, Wolverine Wordwide President and CEO Chris Hufnagel had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time to complete ...

  • Garmin
    Article

    Garmin reports strong Q4 results, guides to 10 percent revenue growth in FY24

    2024-02-21T18:19:00Z

    Fueled by double-digit gains in both net sales and operating income, Garmin reported strong Q4 results and offered guidance on FY24, where it sees total sales improving by 10 percent to $5.75 billion but overall gross margin contracting by 100 basis points to 56.5 percent. In Q4 ended Dec. ...

  • KMD Logo
    Article

    KMD group sales slowed in H1, Kathmandu affected by weak winter down under

    2024-02-21T08:09:00Z

    All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...