Latest Financial Results – Page 5
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ArticleClarus posts Q2 loss, revises FY guidance downward
Despite 28 percent year-over-year sales growth in the direct-to-consumer channel, Clarus Corp. reported a Q2 loss of $2.1 million against a profit of $3.8 million for the period ended June 30.
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ArticleFox Factory’s PVG & AAG sales increase offsets SSG sales decline
The bad news first: Suspension expert Fox Factory Holding Corp.’s (Easton Cycling, Fox, Marzocchi and Race Face brands) cycling business, grouped under Specialty Sports Group (SSG), slumped again in the second sales quarter of current FY 2023. The good news is that sales increases at its sister group Powered Vehicle ...
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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. Direct-to-consumer sales fell ...
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ArticleInterest income and currency gains drive net profit in Garmin's Q2
Boosted by more than $29.6 million in interest income and gains on foreign currency, Garmin posted 11.7 percent net income growth to $287.9 million from $257.9 million. Without the two gains, the group’s profit would have been essentially flat for the period ended July 1. Second quarter operating income fell ...
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ArticleCoDi maintains guidance despite ongoing inventory headwinds
Net income from continuing operations in Compass Diversfied’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 68 percent to $6.94 million from $21.4 million for the period ended June 30. Total revenues from the five companies fell ...
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ArticleWeyco 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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ArticleUSWE 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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ArticleColumbia 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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ArticleVF 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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ArticleCompany 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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ArticleVista 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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ArticleBicycle 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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ArticleIndustry 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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ArticleMips 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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ArticleRapala’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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ArticleThule’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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ArticleBike24 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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ArticleDometic 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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ArticleHydro 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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ArticleSSU 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, ...
