Frank Prenesti
Frank Prenesti is a writer and editor based in London, specializing in business and politics. He has worked on several British national newspapers and was political correspondent in Westminster for more than a decade at newswires, including Reuters.
ArticleCoats sees rebound in footwear, albeit destocking lags behind apparel sector
Coats expects modest revenue growth in 2024 as its markets started to recover in the second half of last year, helping it to deliver higher 2023 profits. The British group, which makes threads and components for the footwear and clothing industries, said destocking of inventories by footwear customers had lagged ...
ArticleSolo Brands lifts Ebitda margin as Q2 wholesale revenues soar
Solo Brands lifted its annual Ebitda margin target after a strong rise in second-quarter earnings and wholesale revenues. The owner of four lifestyle brands said wholesale revenues increased 57 percent to $31.3 million in the three months to June 30, compared to $19.9 million a year ago.
ArticleCompass Diversified lifts guidance after Q2 sales surge by 19%
Compass Diversified (CoDi) lifted its outlook for the full year after a 19 percent rise in second-quarter net sales growth driven by Boa Technology and Lugano Diamonds.
ArticleLenzing sees “significantly higher” Ebitda as H1 revenues jump
Specialist fiber maker Lenzing Group said it expected annual Ebitda to be significantly higher after reporting a 25 percent jump in half-year revenue, driven by higher fiber prices. The company said revenue in the six months to June 1 rose to €1.3 billion, compared with £1.03 billion a year earlier.
ArticleFrilufts drives Q2 growth at Fenix Outdoor as stores reopen
Fenix Outdoor International’s sales increased by one-third in the second quarter as the company’s outdoor retail segment (Frilufts Retail Europe) in Germany (Globetrotter retail chain) rebounded due to the reopening of stores following the Covid lockdowns. The company said sales for the three months to June 30 rose 29 percent ...
ArticleThe North Face helps drive Q4 revenue rise, but Vans hit by China lockdowns
VF Corp reported a revenue increase of 9 percent to $2.8 billion (€2.65bn) in the fourth quarter of 2022, driven by The North Face (TNF), although sales at Vans were flat during the period. Sales were boosted by a 15 percent increase in the EMEA region and 12 percent in ...
News briefsJack Wolfskin positioned for growth as Callaway lifts group guidance
Callaway Golf raised annual guidance after a strong first quarter, driven by its Topgolf driving range venues, strong performances from its other segments and positive signs from its Jack Wolfskin brand. Revenue for the three months to March 31 rose 59.6 percent to $1.04 billion (€990m). Adjusted Ebitda was up ...
ArticleRocky Brands almost doubles Q1 net sales driven by strong wholesale performance
U.S. footwear company Rocky Brands’ sales for the three months to March 31 rose 90.5 percent year on year to $167.0 million. The figure includes $64.0 million in net revenue from the company’s Boston Group, compared with $6.5 million in the same period last year. The Boston group includes The ...
ArticlePolygiene posts higher net sales in Q1, but sees decline in operating profit
Polygiene reported a rise in first-quarter sales, despite ongoing difficulties due to inflation, supply-chain constraints and the war in Ukraine. The Swedish firm reported net sales of 45.1 million Swedish kronor (€4.3m) for the three months to March 31, an increase of 7.5 percent compared to the same period last ...
ArticleFenix Outdoor sees bright start to 2022 but warns of cost pressures
Fenix Outdoor International said its new fiscal year had started well with a recovery in physical store sales, despite inflationary pressures and supply chain constraints. Releasing its annual report, Fenix reported a “very bright” outlook for its order book for Brands and Global Sales, “indicating some nice growth in 2022”, ...
ArticleRocky Brands targets savings as Q4 net sales soar
U.S. footwear company Rocky Brands said it is targeting cost savings and synergies after integrating Honeywell International’s performance and lifestyle footwear business last year as it reported a 93.4 percent surge in fourth-quarter net sales.
ArticleCanadian Tire beats sales estimates in Q4 as consumers splurge on sports goods
Toronto-based Canadian Tire Corporation (CTC) reported better-than-expected fourth-quarter revenue, driven by a surge in spending on sporting goods, garden equipment and home decor during the Christmas season, along with higher fuel prices at its petrol stations.
ArticleColeman helps boost Q4 sales at Newell Brands outdoor unit
Final quarter sales at Newell Brands Outdoor & Recreation division rose to $304 million from $249 million a year ago, as growth in the outdoor equipment and beverage categories offset a slight decline in technical apparel. Core sales at the division, home of the Coleman, Campingaz and Marmot brands, grew ...
ArticleMips Q4 net sales rise despite supply constraints & China factory slowdowns
The Swedish helmet safety technology provider Mips reported a 41 percent rise in net sales during the fourth quarter, despite supply chain constraints and power restrictions on factories in China. The specialist in “brain protection” said net sales for the three months to Dec. 31 rose to 198 million Swedish ...
ArticleFenix reports records for Q4 thanks to sales increase and despite Omicron hit
Fenix Outdoor International has reported record fourth-quarter earnings driven by surging sales in its Frilufts segment and the delivery of goods delayed in the previous three months from the Brands division. The company said net sales for the three months to December 31 rose by 33 percent to €196.5 million ...
