All Financial results articles – Page 68
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ArticleCallaway’s sales and profit plunge
(SGI) Callaway Golf Co. saw sales for the first quarter decline by 14 percent to $442.3 million, weighed down by the impact of Covid-19 on its golf equipment and softgoods businesses, including the recently acquired Jack Wolfskin brand. Currency fluctuations negatively affected revenues by $4 million. The gross margin decreased ...
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ArticleFenix Outdoor banks on e-commerce after a weak quarter
Martin Nordin, chief executive of Fenix Outdoor International, expressed optimism about a recovery in the outdoor industry after the coronavirus pandemic is over, considering that it has outperformed other industries during past recessions, especially in Europe. He added that the epidemic’s negative effect on travel should lead people to look ...
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News briefsGoPro's sales drop by more than half
In line with its previous warning, GoPro reported a turnover of $119 million in the first quarter, more than half the $243 million level of the year-ago period. The transition to a more efficient and profitale direct-to-consumer model reduced operating expenses mitigating the decline in the gross margin, which was ...
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ArticleStore closures weigh on Johnson Outdoors’ sales and profits
Johnson Outdoors’ earnings for its second fiscal quarter, ended on March 27, declined by 7 percent from the year-ago period to $20.4 million. In response to the Covid-19 crisis, the group has cut travel and non-essential spending, deferred capital expenditures and scaled operations down to match demand. Johnson’s total revenues ...
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ArticleBogs’ sales tumble 22%
Sales of the Bogs footwear brand from the U.S. state of Oregon, best known for their waterproof boots, declined 22 percent in the first quarter due to Covid-19, particularly in the second half of March, with store closures affecting the company’s wholesale business. Weyco, the parent company, said domestic retail ...
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ArticleAn excellent quarter for Garmin in Outdoor and Fitness
Garmin’s fitness division had a stellar performance in the first quarter. Revenues in this segment soared by 24 percent to $180.3 million, as the group benefited from the home fitness boom due to the lockdowns in place in many countries. Sales were driven by advanced wearables and Tacx indoor bike ...
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ArticleColumbia’s results are hit by Covid-19
After a brilliant financial year in 2019, Columbia Sportswear did not have a great start to 2020 due to the Covid-19 pandemic. Its net profits stood at just $0.2 million, down from $74.2 million for the year-ago quarter, while sales dropped by 13 percent to $568.2 million. Lower consumer demand ...
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News briefs
Closeouts helped XXL to grow in Q1
A major clearance program launched in reaction to poor winter conditions helped XXL to boost its sales by 7 percent in the first quarter to 2,162 million Norwegian kroner (€191.7m-$208.2m), with 3 percent growth on a same-store basis, but this led the Nordic sports retailer to book negative Ebitda of ...
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News briefs
Hydro Flask helps Helen of Troy to grow
Helen of Troy reported a nice 15.0 percent increase in sales to $144.9 million for its Housewares segment, which includes Hydro Flask and OXO, for the fourth quarter of its financial year ended on Feb. 29, despite a drop outside the U.S. Lifted by new product introductions, sales grew online ...
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ArticleThule grants warrants after a small sales drop
While withholding the payment of dividends to save cash because of the Covid-19 epidemic, Thule Group’s annual meeting approved an incentive program for executives and key employees after the company reported a relatively small 7.5 percent decline in sales during the first quarter of 2020, with drops of 13 percent ...
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ArticleCallaway’s shares rise on longterm prospects
Callaway Golf Co. released preliminary results for the first quarter which pointed to a drop in revenues and earnings due the coronavirus, but it expressed optimism going forward for its golf equipment and outdoor clothing operations, leading the share price to jump by 17 percent. The group said it expects ...
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News briefsMoncler suffers 18% drop in Q1 sales owing to coronavirus
(SGI) Moncler, one of the public companies that have weathered the collapse of the stock exchange best, saw consolidated sales decrease by 18.1 percent at current exchange rates, or by 18.4 percent at constant exchange rates, in the first quarter to March 31 as compared to the first quarter a ...
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News briefs
Polygiene on the rise
(SGI) Polygiene stabilized its business in 2019, with sales declining by just 0.3 percent to 68.8 million Swedish kronor (€6.34m-$6.82m), with cash flow improving and turning positive. Sales actually grew by 6.3 percent excluding the divested Protective Surfaces business, but the operating margin declined and the company ended up with ...
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News briefs
Remote voting for Thule’s annual general meeting
Thule Group is encouraging shareholders to exercise their voting rights remotely in advance of the Swedish company’s annual general meeting, scheduled for April 28, in order to minimize the number of people gathered at its location. They have to fill out and send a registration form by April 22 to ...
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News briefs
Wolverine's annual general meeting will be virtual
Wolverine Worldwide announced on April 17 that its annual general meeting of shareholders will be held in a virtual-only format on April 30, due to pubic health consideration related to the Covid-19 pandemic. Shareholders who were registered as such on March 18 will be invited to visit a dedicated website ...
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News briefs
Columbia’s Covid-19 update
Columbia Sportswear has suspended its quarterly dividend, its stock repurchase program and its Feb. 6 guidance for its results in the first half of 2020 and the whole financial year. The company will provide a new update with its first-quarter results on April 30. Meanwhile, it reports that the vast ...
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News briefsMammut falls by 26.2% in Q1
The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted ...
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Article
Moody’s is pessimistic about Amer’s outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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ArticleKathmandu’s sales jump by 52% on Rip Curl acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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ArticleGregory continues to outperform
Gregory Mountain Products continued to outperform other brands in the portfolio of Samsonite International last year including High Sierra, the group’s more lifestyle-oriented brand of backpacks. Gregory raised its total turnover by 20.3 percent to $69.8 million in 2019, rising by 21.0 percent in constant currencies. The growth was driven ...
