Latest Financial Results – Page 4
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Shimano cites weak demand as nine-month results slip
Numerous global factors, including a “lackluster economy” in Europe and a ”sluggish” recovery in China, Shimano reported a 19.8 percent decline in total sales to ¥375.27 billion (€2.36bn) for the first quarters of fiscal 2023. Operating profit fell by 43.0 percent to ¥72.09 billion (€453.0m) from ¥126.58 billion for the ...
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Accelerated travel demand boosts Osprey sales in Q2
After citing Osprey’s recent strong performances in Great Britain and Germany, parent Helen of Troy says the outdoor brand should generate additional sales growth in H2 on demand for its core backpack and in the adjacent on-trend travel packs. Osprey, thanks to accelerated travel demand and an improved year-over-year inventory ...
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SSU delists from NYSE, new CEO
After assuming earlier this year that the worst of the market disruptions were over, Signa Sports United N.V. (SSU), the Berlin-based sports e-commerce specialist, has now announced an acceleration of its strategic realignment and performance improvement program. Ahead of putting its Q3 numbers on the table, the company is ...
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KMD Brands’ FY results marred by poorer consumer sentiment in Q4
Strong sales growth from all three of KMD Brands’ brands – Rip Curl, Kathmandu and Oboz – was offset by weaker results in the year’s final period ended July 31. Annual Ebitda rose 11.2 percent to 200.1 New Zealand dollars (€117.1m), but net profit was essentially flat at NZ$36.6 million ...
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Rotor taking a hit in revenues
Rotor, the Spanish manufacturer of bicycle components, had the best year in its history in 2022, when revenues fell just shy of €22 million, improving by 30 percent on the previous year, but things have since slowed. The first half of 2023 produced a 25 percent drop in sales, and ...
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Pierer reports strong H1 sales and revenue, PTWs offset bicycle sales
Pierer Mobility AG achieved record sales of EUR 1.39 million in the first six months of the year (+20.2 percent compared to the first half of the prior year). This result is mainly due to the excellent development of the PTW (Power Two-Wheelers = motorcycles and e-bikes) business. Group-wide, around ...
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New Wave pushes operating profit up despite small sales dip
New Wave Group, which added Swedish outdoor company Tenson AB to its sports & leisure portfolio on July 1, realized a 4.2 percent increase in segment operating income to 140.2 million Swedish kroner (€12.5m) from SEK 134.5 million for the three months ended June 30. Segment sales declined by 1.4 ...
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Leatt’s 2023 numbers make 2022 look like a dream
Leatt Corporation swallowed another double-digit 31.2 percent preliminary revenue decline down to US$12.35 million (€11.27 million) in the second quarter of its current fiscal 2023. But there may be some good news on the horizon for the protective equipment maker.
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Merida H1 sales and profit down
In the first half of 2023, Taiwan’s second largest bicycle producer Merida Industry Co, Ltd. posted a single-digit sales drop and a double-digit profit drop, mirroring that of its compatriot and leading bicycle producer, Giant Manufacturing Ltd.
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Yeti sales outside US rise 18 percent in Q2
Yeti, the Texas-based drinkware and cooler company, generated 18 percent Q2 sales growth in markets outside the U.S. to $56.7 million, as US revenues fell by 7 percent to $345.9 million for the period ended July 1.
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Despite positive signs, Bike24 posts further losses due to high future investments
In the second sales quarter of 2023, German e-commerce bicycle retailer Bike24 Holding AG brought in revenues of €62.9 million, down 6.1 percent compared to the same period in 2022. But there are some positives on the horizon, with the measures introduced to increase profitability beginning to show effects.
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Giant Group H1 down in the west but up in China
In the first half of 2023, Taiwan’s bicycle producer Giant Group reached consolidated overall sales of NT$42.58 billion (€1.22 billion). A 5.4 percent drop compared to the first six months of last year, but one region showed a strong sales performance.
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Wolverine Q2 results slump, new CEO set to lead turnaround
Chris Hufnagel, who was just named the President and CEO of Wolverine Worldwide, Inc. with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and driving ...
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Clarus 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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Fox 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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Solo 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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Interest 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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CoDi 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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Weyco 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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USWE 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 ...