All Financial results articles – Page 9
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ArticleGiant Q1: Overstock harming sales in the West
Inventory reductions in the European and North American markets, as well as the higher year-on-year comparison base, have had a direct impact on the first quarter results of bicycle producer Giant Manufacturing Company Limited (Giant Group). The Taiwanese company had to swallow a 9.6 percent sales drop compared to the ...
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ArticleThredUp making progress towards profitability
ThredUp Inc. CEO James Reinhart said he was “confident in our ability to flex our marketplace, invest in strategic growth opportunities, and make progress towards profitability” as the resale platform announced its financial results for the first quarter ended March 31, 2023.
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ArticleOrbea posts seventh consecutive year of growth
Without losing sight of its values and identity as a cooperative, Basque bike manufacturer Orbea S. Coop has become a leading and globally recognized bike supplier. As the company announced at its AGM on May 6, it now employs more than 1,000 people worldwide. 80 percent of them in its ...
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ArticleRevolutionRace sees sales growth accelerate after top line grows 13% in Q3
Despite weak consumer sentiment and extensive markdowns, RevolutionRace’s top line rose by 13 percent to 414 million Swedish kroner (€37.1m) in Q3.
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News briefsUnifi’s sales fall 22% amid volatile global environment
Unifi, the U.S.-based maker of the Repreve fiber, announced net sales of $156.7 million for the third fiscal quarter ended April 2, 2023, down 21.9 percent from $200.8 million in the third quarter a year ago. The decrease was primarily driven by lower sales volumes amid a volatile global environment. ...
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News briefsFox Factory’s Q1 sales driven by Powered Vehicles Group
Fox Factory, which completed an acquisition of Custom Wheel House in March, posted a 1 percent increase in Q1 operating income to $54.7 million and realized a 150-basis-point improvement in year-over-year gross margin to 33.3 percent in the period ended March 31. Higher income taxes against the year-ago quarter drove ...
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News briefsJohnson Outdoors reports mixed Q2 results
Johnson Outdoors, benefitting from sales and profitability improvement in its fishing and diving segments, generated an improved gross margin, higher revenues, and a 50 percent increase in net income for the period that ended March 31. But a 20 percent rise in Q2 operating expenses to $63.9 million contributed to ...
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News briefsLenzing remains confident despite bumpy first quarter
Austrian-based Lenzing Group’s Q1 2023 sales rose slightly by 1.3 percent year-on-year to €623.1m, primarily due to higher pulp sales, while fiber sales declined, the company said. Ebitda declined 66.2 percent year-on-year to €29.7 million in the first quarter, net income was €-64.9 million (compared to €34.1 million in Q1 ...
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ArticleVista Outdoor posts Q4 loss, 83 percent decline in FY operating income
Vista Outdoor, which owns 41 sporting, outdoor and action sports brands, reported a Q4 operating loss of $292.4 million and an Ebit loss of $311.8 million as the group’s outdoor products segment continued to navigate market uncertainty and retail inventory challenges. The company recorded a goodwill impairment and trademarks amounting ...
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ArticleCoDi lifts FY outlook, but cautious on Q2
Compass Diversified (CoDi) anticipates a “significant snapback” in revenue growth and profitability within key businesses once a current industry inventory destocking cycle ends. The group’s current Q2 forecast is both cautious and conservative despite its decision to lift its FY23 adjusted earnings range to $110 to $135 million and consolidated ...
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News briefsSolo Brands turns Q1 profit, maintains FY guidance
Solo Brands reported a $933,000 net profit against a loss of $2.01 million for Q1 ended March 31. Operating income was $3.2 million against a loss of $3.2 million. Quarterly revenues for the parent of Oru Kayak, Isle paddleboards, Chubbies apparel and Solo Stoves rose by 7.3 percent to $88,207,000 ...
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ArticleGarmin maintains FY23 outlook
Garmin, which generated an 85 percent increase in Q1 free cash flow to nearly $232.4 million and paid a quarterly dividend approaching $140 million, is standing by its FY23 financial guidance that calls for approximate revenues of $5.0 billion and pro forma EPS of $5.15 a share. In Q1, ...
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ArticleHigh inventories and sluggish consumer climate lead to decline in sales at Bike24
Even the good business performance of the localized online stores in the newly opened country markets of Spain, France and Italy, with an average increase in sales of 109 percent (compared to the prior-year period), could not really mask the business figures of the German cycling, running and swimming sports ...
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ArticleRocky Brands posts gross margin improvement despite loss
Helped by product price increases in 2022 and lower logistics costs, Rocky Brands improved its Q1 gross margin by 200 basis points to 39.6 percent. But the Georgia Boot parent reported a 69 percent decline in operating income to $4,155,000 against $13,197,000 for the period ended March 31. The Q1 ...
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ArticleClarus experiences strong Black Diamond demand in Europe
Hampered by a difficult year-over-year comparison in its Adventure segment and promotional activity in the North American region, Clarus Corp. reported a 42 percent decline in Q1 operating income to $4.69 million from $8.1 million. Net income was down by 69.9 percent to $1.6 million from $5.3 million for the ...
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ArticleColumbia's Q1 sales boosted by early spring shipments and DTC channel
While Columbia Sportswear generated both lower gross and operating margins in Q1, the company was able to report 10 percent constant-currency revenue growth to $820.6 million thanks to early shipments of Spring 2023 wholesale orders and a reported 4 percent increase in direct-to-consumer sales to $368.1 million. “2023 is off ...
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News briefsNewell Brands’ outdoor & recreation unit reports another quarterly loss
Newell Brands’ outdoor & recreation business segment, which includes Coleman, CampingGaz, Marmot, and Ex-Officio, reported an operating loss of $1 million versus a profit of $46 million in Q1, which ended March 31. Outdoor & recreation’s normalized operating income fell by 74 percent to $13 million from $50 million. Total ...
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ArticleThule delivers improved Ebit margin despite lower sales
Thule Group, bolstered by Summer 2022 price increases, lower freight costs and reduced selling expenses, generated a 17.2 percent Ebit margin in Q1 ended March 31, despite a 26.6 percent drop in net sales to 2,226 million Swedish kroner (€198.8m) compared to SEK 3,034 million. Period operating income declined by ...
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ArticleHelen of Troy gets operating income lift in Home & Outdoor
Fourth quarter operating income in Helen of Troy’s Home & Outdoor segment, which includes Osprey Packs, Oxo and Hydro Flask, rose by 38.5 percent to $31.3 million from $22.6 million due to lower inventory obsolescence expenses and the favorable impact of acquisition-related costs in the year-ago period. Segment revenues were ...
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News briefsNormalcy returns at Calzados Bestard
After a couple of extraordinary years, things seem to be returning to normal at Calzados Bestard, the 83-year-old mountain-boot firm in Mallorca, Spain. Sales for the first quarter of 2023 were down by 20 percent year-on-year, according to CMDsport, which spoke with sales director Mats Lindholm. Lindholm’s realignment is visible ...
