Latest Financial Results – Page 2
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ArticleFox Factory’s SSG sales drop weighs on the overall result for FY23
While Fox Factory’s former Powered Vehicle Division (split in Q2 2023 into the Powered Vehicle Group (PVG) and Aftermarket Applications Group (AAG)) scored with sales growth, the Specialty Sports Group (SSG), which operates the bicycle product brands Easton Cycling, Fox Suspension, Marzocchi and Race Face, ended up with a two-digit ...
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ArticleWolverine progresses with turnaround, but faces further setbacks
Six months on the job, Wolverine Wordwide President and CEO Chris Hufnagel had to oversee changes in many aspects of the group’s overall business, including excess inventory, shedding businesses, lowering debt levels, and improving the supply chain. Progress has been made, but the turnaround will take more time to complete ...
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ArticleGarmin reports strong Q4 results, guides to 10 percent revenue growth in FY24
Fueled by double-digit gains in both net sales and operating income, Garmin reported strong Q4 results and offered guidance on FY24, where it sees total sales improving by 10 percent to $5.75 billion but overall gross margin contracting by 100 basis points to 56.5 percent. In Q4 ended Dec. ...
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ArticleKMD group sales slowed in H1, Kathmandu affected by weak winter down under
All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...
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ArticleYeti misses Q4 sales mark, but international soars
Yeti is forecasting sales growth of 20-25 percent in 2024 from all markets outside the U.S. after stellar results from the segment in FY23. The group’s international sales expanded by 28 percent last year to nearly $260.7 million, fueled by momentum in Europe, where the brand is now carried in ...
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ArticleFenix Outdoor facing ‘very challenging’ market in 2024
Fenix Outdoor says FY24 growth will need to come from re-orders and its own DTC channels, given that many of its retail partners are facing financial challenges. After an expected difficult wholesale business in Q1, the group thinks inventories will improve in Q2, which could result in possible product shortages ...
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ArticleShimano forecasts further sales erosion after difficult FY23
Citing soaring raw material prices, possible further disruptions to global supply chains, and persistent economic worries around the world, the Japanese Shimano group is forecasting a 36.6 percent drop in year-over-year operating income in FY24 to ¥53,000 million (€329.4m) on an 11.5 percent decline in consolidated sales to ¥420,000 million ...
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ArticleThule Group coped not too badly with challenging FY
Swedish Thule Group AB ended the challenging financial year with a year-on-year decline in sales of 9.9 percent to total sales of 9.13 billion Swedish kronor (€804.71 million), an operating result of SEK 1.51 billion (€133.08m, -11.8 percent) and a net profit decline of 13.8 percent to SEK 1.10 billion ...
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ArticleMips with poor 2023, but bike helmet orders are growing
2023 was a challenging year for helmet safety technology provider Mips AB, mainly due to the bicycle helmet category, which was affected by high inventory levels and a drop in demand. The only ray of hope: incoming orders for this very category picked back up for the first time in ...
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ArticleGoPro counts on some wins despite Q4 and FY losses
GoPro is increasing its retail presence and product range while ramping up its brand exposure at global sporting events, despite reporting Q4 and FY23 operating losses and declines in revenues. Ten months since launching a multi-year growth strategy, the group says it can count on some wins despite the reported ...
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ArticleUSWE fails to meet Q3 target, strategic focus on North American distribution channels
USWE Sports AB, the Swedish parent company of USWE, Void Cycling and Giant Loop, reported a positive Ebitda in the last two quarters but missed this target in the third quarter (October-December) with an Ebitda of -1.4 million Swedish kroner (€-123,908). For the first nine months of the financial year ...
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ArticleThe North Face, EMEA stronger in ‘challenging’ VF quarter
VF Corp., whose current portfolio includes The North Face (TNF), Vans, Timberland and Dickies, among others, initiated a strategic review of its brand assets after reporting disappointing Q3 results “across the board” that included double-digits declines in total sales, wholesale revenues and for three of its main brands. The group, ...
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ArticleVista Outdoor posts Q3 loss, but Revelyst inventory improves
Vista Outdoor´s operating loss was $180.0 million against a profit of $96.7 million for the period ended Dec. 24. The net loss was $148.2 million against a profit of $65.1 million as gross margin slid by 190 basis points to 29.7 percent from 31.6 percent. Total sales fell 9.6 percent ...
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ArticleDeckers reports strong results, raises guidance and names new CEO
Bolstered by strong Q3 gains in the DTC channel, Deckers Brands has reported 35 percent operating income growth, 16 percent revenue expansion on a reported basis, and a 570-basis-point increase in gross margin for the period ended Dec. 31. With the strong results, the Ugg and Hoka parent raised its ...
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ArticleStrong Asia-Pacific sales bolster Canada Goose in Q3
Increased demand for luxury goods in China contributed to a reported 62 percent increase in Asia-Pacific sales at Canada Goose to C$270.7 million (€186.3m) for the third quarter ended Dec. 31. All other geographies posted double-digit declines in sales, including a 26 percent decline in the EMEA to C$86.8 million ...
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ArticleColumbia sees ‘challenging’ year, sets profit and growth plan
With a warm winter and a difficult US marketplace to contend with in its seasonally strong final quarter of the year, Columbia Sportswear reported a 27 percent drop in operating income to $113.1 million from $155.4 million and a 9 percent decline in total revenues to $1.06 billion from $1.17 ...
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ArticleDometic posts improved profitability, lower Q4 sales
In a seasonally weak quarter where most retail customers worked to get their inventory levels in line, Dometic reported an 89 percent increase in net income to 51 Swedish kroner (€4.5m) despite a 13.7 percent drop in revenues to SEK 5,327 million (€471.7m). The Q4 operating profit dipped 1.5 percent ...
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ArticleTernua Group has optimized, will now consolidate
Ternua Group has ended 2023 with a 10 percent increase in sales, from €31.5 million to €34.7 million, or just shy of its projected €35 million, according to Modaes. “We began the year with good prospects in terms of both replenishments and direct activity,” explained CEO Jokin Umerez. He said ...
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ArticleCautious mood at Pierer Mobility despite record revenue and unit sales in 2023
After Austrian two-wheeler giant Pierer Mobility AG presented its first preliminary business figures for 2023 earlier this month, the company announced additional details on Jan. 29. The public company achieved both a record turnover of €2.661 billion (+9%) and record sales (381,555 motorcycles = +2% and 157,358 bicycles including e-bikes ...
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ArticleSolo Brands updates FY 2023 guidance, announces leadership change
Solo Brands, Inc., the parent company of the Solo Stove, Chubbies, Oru Kayak, Isle and Icy Breeze brands, announced the appointment of Christopher T. Metz as its new President, Chief Executive Officer and Director of the Board, effective Jan. 15, 2024. Metz succeeds John Merris, who will be stepping down ...
