All Financial results articles – Page 7
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Article
Weyco 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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Article
USWE 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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News briefs
Rocky Brands sees business positioned for H2 improvement
Despite experiencing strong sell-throughs at several major U.S. wholesale accounts, U.S. footwear company Rocky Brands reported a 38 percent decline in Q2 sales to $99.8 million from $162.0 million for the period ended June 30. Wholesale segment revenues declined by 45.5 percent to $71.5 million and fell by 3.6 percent ...
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Article
Columbia 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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Article
VF 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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News briefs
Newell Brands drops annual guidance, outdoor & recreation Q2 results fall
Newell Brands, the Coleman and CampingGaz parent, reported a 22 percent decline in Outdoor & Recreation segment sales to $333 million from $427 million for the period ended June 30. A 20.9 percent drop in core sales and currency impact is included in the revenue total. Segment operating income slid ...
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Article
Company raises full-year guidance as Hoka leads Deckers in Q1, Teva sales down 19%
Deckers Brands, intent on growing both its direct-to-consumer and international businesses in the months ahead, generated a 42 percent increase in Q1/24 net income to $63.6 million versus 44.8 million for the three months ended June 30. Operating income was 26 percent higher year-over-year at $70.7 million. Total net sales ...
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News briefs
Polygiene sees market recovery by end of 2023
Polygiene Group, while admitting “the pace of the market recovery has taken longer than expected,” suggests current “market signals” point to a recovery by the end of the year. In Q2, the group reported a 46 percent drop in net sales to 25.4 million Swedish kroner (€2.3m) and an operating ...
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Article
Vista Outdoor’s Q1 net dips by 54 percent; Outdoor Products spin-off slated for Q4
Vista Outdoor, which is proceeding with plans to spin off its Outdoor Products segment in Q4 of this calendar year, reported a 54 percent decline in Q1 net income to $58.1 million from $126.0 million for the period ended June 25. Ebit was down by 55 percent to $75.4 million ...
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Article
Bicycle slump leads to decline in sales and profits at Shimano
The current high (bicycle) inventory levels and decreasing demand are also being felt by market leader Shimano Inc. However, despite a double-digit drop in sales in its largest business unit, bicycle components, in the first half of 2023, the Japanese company remains calm. It’s counting on bicycles as a global ...
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Article
Industry inventory issues dampen Fenix’s Q2 results
Fenix Outdoor International, facing “very challenging” market conditions and “substantial price pressure” due to high outdoor industry inventory levels, realized a 74 percent decline in Q2 Ebit to €3.1 million from €11.7 million. The operating margin narrowed to 0.1 percent from 5.9 percent. Net profit declined by 94 percent to ...
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Article
Mips gives positive outlook despite notable sales decline in Q2
Bad and good news can be seen in the preliminary Q2 figures and thus the half-year figures of the “Brain Protection System” (BPS) manufacturer Mips AB: As expected, there is a slump in sales due to the ongoing weakness in demand in the bicycle sector, which is struggling with full ...
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Article
Rapala’s H1 results sink on excess inventory woes
Already bracing for a significant drop in FY23 full-year comparable operating profit, Rapala VMC reported double-digit declines in net sales and comparable operating profit in H1. With the results, the Finnish group said it was implementing cost cuts across the organization to mitigate the lower turnover. Over the next 12 ...
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Article
Thule’s gross margin climbs despite sales and profit decline
Despite experiencing lower profitability and sales in Q2, Thule Group generated a record quarterly gross margin and a 47 percent increase in cash flow from operations as the Swedish company continued to prepare for new product introductions over the next 18 months.
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Article
Bike24 lowers FY forecast after gloomy prelim Q2 results
Looking at publicly traded e-commerce bike retailer Bike24 Holding AG’s preliminary dismal second-quarter results, it’s clear why the Dresden-based company also sent out a separate announcement to “adjust the forecast for the financial year downwards.” This move in itself demonstrates the gravity of the current situation. According to preliminary calculations, ...
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Article
Dometic Q2 organic sales fall 10% as restructuring moves forward
Dometic generated sales of 8,329 million Swedish kronor (€725.5m) in the second quarter of 2023, down by a reported two percent compared to the year earlier and 10 percent lower on an organic basis. The Swedish specialist in products for outdoor and mobile living traced the decline in organic sales ...
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News briefs
KMD Brands updates full-year outlook
KMD Brands, the New Zealand parent of Oboz, Kathmandu, and Rip Curl, says it’s on track to reach full-year sales of NZ$1.1 billion (€619.7m) for the 12 months ending July 31. FY gross margin is forecast to be on par with the prior year, and Ebitda is forecast at NZ$105 ...
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Article
Hydro Flask faces market pressure, Osprey sales up in Q1
Adjusted operating income slipped by 8.9 percent to $34.3 million from $37.6 million for the Home & Outdoor segment of Helen of Troy for the first quarter ended May 31. Excluding a nearly $3.1 million impact related to the bankruptcy of retailer Bed, Bath & Beyond, Q1 operating income for ...
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News briefs
Rapala anticipates significant decline in FY23 operating profit
The fishing equipment company, which completed a restructuring of its Helsinki headquarters this month and welcomed back former COO Lars Ollberg as CEO in May, is now forecasting its full-year comparable operating profit to be “significantly below” its FY22 level. Rapala blamed the expected annual profit shortfall on persistent ...
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Article
SSU is hoping the worst market disruptions are over
Signa Sports United (SSU), while bracing for less-than-stellar FY23 results impacted by macroeconomic headwinds and high industry inventory levels, is taking steps to generate €100 million in Ebitda savings by FY25 and less operational complexity in FY24 that will return it to profitable, long-term growth. Meanwhile, the Germany-based e-commerce company, ...