All Financial results articles – Page 67
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ArticleAnta switches to new DTC business model in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
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ArticleGregory and High Sierra could not resist the pandemic
Like the rest of the big Samsonite luggage group, its two outdoor backpack brands, Gregory and High Sierra, suffered sales declines in the first half, to June 30 because of the Covid-19 pandemic. Gregory, which has been generally outperforming the rest of the group, posted a drop of 30.8 percent ...
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News briefsGiant benefits from the cycling boom
The Giant Group posted revenues of $33 billion Taiwan dollars (€1.0bn-$1.1bn) for the first six months of this year, representing a 7.5 percent increase as compared to the first half of 2019. Sales were boosted by increased global demand for bicycles following the coronavirus lockdown period, as many consumers have ...
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ArticleCurrency headwinds weigh on Helly Hansen’s results
Helly Hansen’s revenues for the second quarter fell by 21.0 percent to 68.9 million Canadian dollars (€44.1m-$52.1m), weighed down by store closures and foreign-currency-headwinds. In constant currencies, they fell by 12.6 percent. Most wholesale customers were closed across the globe in the quarter, as were distribution centers and retail stores. ...
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ArticleCanada Goose to cut production as Covid-19 hits Q1 sales
Canada Goose is cutting production and opening fewer stores as the coronavirus pandemic hit its sales, causing first-quarter net losses to almost double to 50.1 million Canadian dollars (€32.0m-$37.7m) from Can$ 29.4 million a year earlier. On adjusted basis, excluding restructuring charges, the net loss amounted to Can$ 38.4 million ...
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ArticleSluggish sales for Black Diamond
A weak performance from Black Diamond, Clarus Corp’s biggest brand, pushed the group’s sales for the second quarter down by 36 percent to $30.0 million. The parent company of BD, Pieps and Sierra Bullets saw its net loss widen to $2.7 million, from $0.7 million for the same three months ...
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ArticleGoPro widens losses
Sales for the U.S. action camera brand tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net ...
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Moody’s and S&P forecast 15% sales decline at Amer Sports
In a new report, rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda was a loss of €26 million for the first half, against a ...
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ArticleDirect sales lifts Yeti’s results
Yeti, the American brand of coolers and drinkware and other outdoor equipment, recorded a 7 percent gain in revenues to $246.9 million, driven by strong growth in direct-to-consumer (DTC) sales, which increased by 61 percent to $133.0 million. This was driven by both Coolers & Equipment and Drinkware, due to ...
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ArticleVista Outdoor benefits from resurgence in outdoor recreation activities
The Outdoor Products division of Vista Outdoor, which includes brands such as Bell, Giro, Camelbak, Camp Chef and Bushnell Golf, recorded a 4 percent drop in sales to $145.0 million in the first fiscal quarter ended on June 28, largely due to restrictions related to the Covid-19 outbreak. These restrictions ...
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ArticleCallaway’s profit plunge due to Jack Wolfskin writedown
Callaway Golf Co. ended the second quarter in the red due to a $174 million impairment charge related to the Jack Wolfskin goodwill and trade name. It posted a net loss of $167. 7 million, versus net income of $28.9 million for the year-ago quarter. The management said the charge ...
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ArticleMammut struggles amid restructuring
Revenues for the Mammut Sports Group declined by 31.4 percent to 80.9 million swiss francs (€74.9m-$88.6m) in the first half of 2020, including a drop of 29.1 percent in comparable sales. The operating loss widened to CHF 23.3 million (€21.5m-$25.5m), down from an operating loss of CHF 5.3 million for ...
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ArticleWolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
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ArticleLenzing's H1 sales collapse due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
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ArticleNewell sales drop by 20%
Currency headwinds and the effects of the Covid-19 pandemic caused Newell Brands’ revenues for the second quarter to drop by 14.9 percent to $2.1 billion. The gross margin contracted by 3.4 percentage points to 31.5 percent due to measures to reduce debt, currency fluctuations and unfavorable mix. During the period, ...
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ArticleJohnson Outdoors tries to keep up with post-lockdown demand
Strong Fishing, Watercraft Recreation and Camping sales after the lockdowns were eased in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ...
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ArticleVF expects improvement despite difficult Q1
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleHoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
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ArticleColumbia ends Q2 with loss
After a difficult first quarter to 2020 because of the Covid-19 pandemic, Columbia Sportswear Company is not having more luck in the second one. It has posted a net loss of $50.7 million, compared with net income of $23.0 million for the year-ago quarter, while sales dropped by 40 percent ...
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ArticleLafuma Group hit by Covid-19 amid restructuring
Groupe Lafuma said the company was “shaken” by the Covid-19 pandemic in mid-March during a period of structuring its brand portfolio and activities. It has made efforts in the past months to adapt to structural changes in its markets and in customer consumption patterns, including investments to improve the customers’ ...
