All Financial results articles – Page 36
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News briefsOutdoor recreation sales slip at Newell Brands
Newell Brands, the parent of CampingGaz, Coleman, Marmot, and Ex-Officio, has reported a 26.0 percent decline in its outdoor & recreation segment sales to $289 million from $391 million for the period ended Sept. 30. An 18.4-percent drop in core sales, unfavorable foreign exchange and exits from certain low-margin categories ...
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ArticleSlumping bike product sales cause double-digit sales decline at Thule Group in Q3
More expensive raw materials, higher freight costs, unfavorable exchange rates, etc. – initially, Thule Group AB was still somehow able to offset the effects of the Russian invasion of Ukraine with price increases and efficiency measures. But even then, the Swedish company explicitly referred to the unstable market situation in ...
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ArticleVF Corp. adapting to softer consumer environment, drops FY outlook
VF Corp is maintaining its full-year revenue growth guidance of 5-6 percent, citing its balanced portfolio and a building recovery in China as two examples, but has lowered expectations on some key financial metrics due to currency headwinds, higher inventory levels and a more promotional environment. The North Face parent ...
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ArticleShimano defies slowing demand with results above pre-Covid level
Triggered by the Russian invasion of Ukraine, global shortages in raw material and energy supply, as well as rising raw material prices, will have a direct impact on the business of Shimano Inc. Nevertheless, demand for bicycles and fishing tackle remained stable in the first three sales quarters of fiscal ...
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ArticleWeak bicycle market significantly hurts Mips sales and margin in Q3
High bicycle helmet inventories at retailers and production cuts at manufacturers are hurting the Swedish Brain Protection System (BPS) manufacturer Mips AB. Net sales fell 39 percent to SEK 113 million (€10.23m) in the third quarter. Organic growth fell by 50 percent. Bit fell 66 percent to SEK 37 million ...
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ArticlePinarello’s good results accelerate further investments
Based on the good financial results of the 2021/22 fiscal year (ended June 30), Italy’s Cicli Pinarello s.r.l. is looking to a bright future. For the current fiscal year 2022/23, the road bike supplier is expecting a growth rate of between 25 and 30 percent – “still considering the limitation ...
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News briefsAngling Direct experiences revenue growth despite headwinds
Angling Direct, the British omnichannel fishing tackle and equipment retailer, saw group revenues increase by 1.3 percent in the first half ended July 31, 2022, against the first half of the previous fiscal year, with revenues reaching £38.9 million (€44.8m). Sales on a same-store basis increased by 4.6 percent. Store ...
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ArticleThule again comments on the current market situation in the bicycle industry
In mid-September, Thule Group provided a trading update regarding the negative impact of the current market situation in the bicycle retail industry. High inventories of bicycles and bike accessories at retailers in Europe and North America were expected to negatively impact Thule Group’s sales and profitability until the next bike ...
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ArticleRevolutionRace gets boost from new markets, products
RevolutionRace (RVRC), in its first full year as a publicly traded company, realized 48 percent revenue growth to 1,331.5 million Swedish kronor (€121.0m) and 50 percent profitability expansion to SEK 288.0 million (€26.1m). The Swedish company, now headed by CEO Paul Fischbein, attributes its steady progress over the last four ...
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ArticleAnalysis: Global outdoor stock index falls by double-digits again in Q3
According to the latest Outdoor Industry Compass quarterly study of 37 select stocks which sell products into the outdoor recreation market, the segment Index fell by a double-digit percentage for a third consecutive period but by less than in the first (-17.84%) or second (-21.18%) quarters. Only four stocks – ...
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ArticleBicycle Stocks Q3 2022: Weighed down by fear of global crash, yet 1/4 buck the downward trend
The Russian war against Ukraine is having such a major global impact that other issues, such as Covid, seem to be taking a back seat. The energy crisis forced by the war, combined with rising interest rates, inflation, and consequently weakening consumer demand and spending, could lead to a global recession – and even a global stock market crash.
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ArticleExports up and projects underway at Spain’s Capri Bikes
Seeing its exports expand from 40 to 60 percent of sales over the past half-year, Capri Bikes is raising its projection for annual revenues from €1.76 to €2.2 million, according to CMDsport. This would raise the total sold of its 1970s-themed bikes from last year’s 5,000 to 7,000. Last year ...
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News briefsAndalusian bike chain benefits from tourism
BikePhilosophy, with stores in Marbella, Málaga and Vélez-Málaga, enjoyed a year-on-year rise in sales of 30 percent in the third quarter, according to CMDsport. The Spanish retailer’s first quarter fell short of expectations, with a rise of 9 percent, but business has picked up since July, resulting in a rise ...
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ArticleHelen of Troy sales get boost from Osprey Packs
Bolstered by a $47.4 million sales contribution from Osprey Packs, second quarter revenues in Helen of Troy’s Home & Outdoor segment rose 11.8 percent to $240.6 million from $215.2 million. The unit’s organic sales declined $19.3 million in the period ended Aug. 31, driven by shifts in consumer spending patterns ...
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ArticleLenzing suspends 2022 earning outlook over market deterioration
The Lenzing Group has announced that, because of “the drastic deterioration of the market environment in the current quarter,” it has suspended its guidance for the development of earnings in the 2022 financial year. The specialist fiber manufacturer specifically referred to “the extremely low visibility on the demand side and ...
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ArticleKMD Brands sees sales momentum resuming
After a challenging first half impacted by the effects of the Covid-19 pandemic, KMD Brands experienced rebounding sales in the final two quarters.
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News briefsNewell Brand’s bond offering receives Ba1 rating from Moody’s
After a negative outlook from S&P Global for Newell Brands, the parent company of outdoor and recreation brands CampingGaz, Coleman, Marmot and others, Moody’s rating was much more favorable: The new senior unsecured bonds received a Ba1 rating, and the outlook for the company remained positive. The rating agency expects ...
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News briefsThule expects impact on its bicycle business from reduced orders
In a webcast meeting with Magnus Welander, CEO and president of the Thule Group, the company informed about the current market situation just before the company’s Q3 report 2022, which is scheduled for Oct. 26. In its half-year report on July 21, the company described the general market situation in ...
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News briefsAOB sees sales drop in Q1 but e-commerce shines
American Outdoor Brands (AOB) reported sales of $43.7 million in the first quarter ended July 31, down by 28.1 percent compared to the year earlier. E-commerce revenues jumped by 23.7 percent to $20.5 million, and traditional sales declined by 47.6 percent to $23.1 million amid lower foot traffic in retail ...
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ArticleSpinnova reports soaring revenues in H1
Spinnova has reported revenues of €7.6 million for the first half of 2022, which compares to €370,000 in the first half of 2021 and to €6.1 million for the whole of 2021. However, the Finnish biomaterials company also reported an operating loss of €5.8 million for H1, which compares to ...
