Latest Financial Results
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ArticleDeuter parent Schwan-Stabilo confirms last year’s solid performance
Source: Schwan-Stabilo Sebastian Schwanhäußer, Group CEO Volatile markets, war, inflation and cautious consumers once again posed considerable challenges for the Schwan-Stabilo Group with its three business areas of cosmetics, writing instruments and outdoor. Nevertheless, the previous year’s positive trend continued – partly due to this varied business ...
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ArticleGiant Group reports further slump in sales and profit in the western markets
Back in August, Giant Manufacturing reported a sales high in China in Q2, which more or less made up for the slump in sales in Europe and North America. In Q3, this was no longer the case – both the consolidated sales and the profit dropped by double digits. Consolidated ...
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ArticleIdeal Bike posts further losses – will Q4 save the day?
After Taiwan’s third-largest bicycle manufacturer Ideal Bike Corporation slipped into negative numbers in H1 of FY 2023, the negative operating results and net losses have continued in Q3. At TWD 3.23 billion (€92.78m), total sales in the third quarter of 2023 were 21.7 percent lower than in the same period ...
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ArticleMerida’s sales and profit down double-digits in the first 9 months, but…
Taiwan’s second-largest bicycle manufacturer Merida Industry Co., Ltd., achieved total sales of TWD 22.53 billion (€651.44m) in the first three sales quarters of FY 2023. Compared to the first nine months of the previous year, this is a decrease of 14.6 percent. Despite this double-digit decline in sales, gross profit ...
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ArticleWolverine lowers outlook as transformation plan picks up pace
Wolverine Worldwide’s Q3 results weren’t pretty, but they did exceed Street estimates on several fronts as the Merrell, Saucony, and Sweaty Betty parent moved forward with numerous initiatives aimed at reducing annualized costs by $215 million and turning the company’s fortunes in the right direction again. Net income slid ...
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ArticleInventory levels and sluggish consumption continue to weigh on hGears’ business
German precision gear and component manufacturer hGears AG has announced its figures for the first nine months of FY 2023. It generated consolidated revenue of €84.1 million in these first three sales quarters. This is 18.8 percent less compared to the same period of the previous year. The company said ...
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ArticleTernua optimistic for FY23
“We expect to end [the current year] growing by double-digits with respect to 2022, even though the weather was not with us at the start of the present campaign for autumn/winter 2023/24.” So says Imanol Muñoz, Director of Marketing at Ternua Group, who has granted an interview to CMDsport. The ...
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ArticleClarus cuts FY guidance again after Q3 sales slip 14%
Clarus Corp. cut its full-year guidance for a second time after sales in the third quarter slipped by a reported 14 percent to $100.1 million and were 13 percent lower at constant currency rates. “Looking towards the fourth quarter, our priorities remain set on seeking the stabilization of sales and ...
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ArticleRenewcell reports operating loss of €4.4m, believes in break-even
Swedish textile recycler Renewcell has reported an Ebitda result of -51 million Swedish kroner (€-4.4m) for Q3 of 2023, compared to SEK -59 million (€-5.0m) in the same period last year. Net sales amounted to SEK 84 million (€7.2m), in line with the same quarter last year. Cash flow from ...
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ArticleLeatt with a positive outlook on the horizon despite weak Q3 results
The two-wheeler protective equipment supplier Leatt Corporation from Durbanville, South Africa, has suffered further heavy losses in the third quarter of the current financial year. Compared to Q3 of the previous year, total sales fell by 48 percent to US$12 million. The result for the first three sales quarters of ...
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ArticleFox Factory’s SSG sales slump weighs on overall result
With the presentation of the Q3 report for FY2023, suspension specialist Fox Factory Holding also announces the signing of a definitive agreement to acquire Marucci Sports’ parent company Wheelhouse Holdings. At the same time, the US company has adjusted its sales forecast for 2023 downwards to between $1.43 and 1.47 ...
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ArticleBike24 reports sales increase for complete bikes, PAC sales drop
As previously reported, the board of listed e-commerce bicycle retailer Bike24 Holding AG has adjusted and downgraded its previous full-year forecast “based on preliminary calculations for the third quarter of 2023.” The Q3 report, presented on Nov. 2, highlights the continued growth of its complete bike sales instead of declining ...
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ArticleGarmin posts strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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ArticleVista Outdoor will prioritize debt reduction ahead of vote on Sporting Products divestiture
Vista Outdoor, which agreed in mid-October to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion, says it will continue to prioritize debt reduction ahead of a vote by shareholders to approve the sale. The company finished Q2 on Sept. 24 with ...
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ArticleFenix Outdoor vows to spend more on marketing
Faced with still too much inventory but also high supply chain and product standards, Fenix Outdoor intends to dedicate more dollars to marketing, particularly in Germany and the US, to “explain to the [outdoor] consumers what we stand for,” commented Chairman Martin Nordin in a statement. In the ...
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ArticleVF abandons FY guidance, commences turnaround strategy
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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ArticleDeckers raises full-year guidance again on continued strength of Hoka, plans to divest Sanuk
Bolstered by sales contribution from its Ugg brand and continued momentum in its Hoka business, Deckers Brands generated a 76 percent increase in Q2 operating income to $224.6 million on nearly 25 percent total net sales growth to $1.09 billion for the three months ended Sept. 30. Net income was ...
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ArticleThule gets Q3 boost from bike-related sales in Europe
Sales increased by 8.0 percent to 2,311 million Swedish kroner (€196.0m) for the three months ended Sep. 30 but were up only 0.8 percent on a constant-currency basis. Operating income rose by 86 percent year-over-year to SEK 359 million (€30.4m) as the company’s new CEO and President Mattias Ankarberg took ...
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ArticleColumbia lowers FY23 outlook, braces for challenging Spring ’24
Columbia Sportswear, despite making strides in its ongoing inventory reduction program and improving its quarterly gross margin by 70 basis points to 48.7 percent, reported a 7 percent decline in Q3 net income to $103.5 million from $111.8 million for the period ended Sep. 30. Period operating income was also ...
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ArticleMips: Gloomy year due to high inventory levels
Both weak demand and high inventory levels in the bicycle helmet category, which is also served by helmet safety technology provider Mips AB, led to another whopping 31.9 percent drop in sales in Q3 of FY23 compared to the same quarter in 2022. However, the situation gradually improved during the ...
