Latest News & Analysis – Page 103
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ArticleLeatt faces stark comparison with last year’s Q1 numbers
Even as South African protective equipment maker Leatt Corporation chalked up last year’s record sales as the best in its history, in the second half of the year, supply chain issues, inflation, weak consumer demand and a strong US dollar had already led to high inventory levels and a decline ...
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ArticleYeti Q1 sales inch up despite recall impact, sees return to double-digit growth in Q4
Yeti’s sales in the first quarter of 2023 rose by 3 percent to $302.8 million, despite being affected by a stop sale of certain soft coolers included in voluntary recalls implemented due to safety concerns.
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ArticleJack Wolfskin delivers a “nice quarter of growth” for Topgolf Callaway
Topgolf Callaway Brands, the parent group of Jack Wolfskin, beat earnings and sales forecasts for its first financial quarter but trimmed profit forecasts. CEO says the outdoor wear and equipment brand outperformed expectations in China, although headwinds in Europe persist.
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ArticleGiant Q1: Overstock harming sales in the West
Inventory reductions in the European and North American markets, as well as the higher year-on-year comparison base, have had a direct impact on the first quarter results of bicycle producer Giant Manufacturing Company Limited (Giant Group). The Taiwanese company had to swallow a 9.6 percent sales drop compared to the ...
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ArticleThredUp making progress towards profitability
ThredUp Inc. CEO James Reinhart said he was “confident in our ability to flex our marketplace, invest in strategic growth opportunities, and make progress towards profitability” as the resale platform announced its financial results for the first quarter ended March 31, 2023.
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ArticleOrbea posts seventh consecutive year of growth
Without losing sight of its values and identity as a cooperative, Basque bike manufacturer Orbea S. Coop has become a leading and globally recognized bike supplier. As the company announced at its AGM on May 6, it now employs more than 1,000 people worldwide. 80 percent of them in its ...
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ArticleRevolutionRace sees sales growth accelerate after top line grows 13% in Q3
Despite weak consumer sentiment and extensive markdowns, RevolutionRace’s top line rose by 13 percent to 414 million Swedish kroner (€37.1m) in Q3.
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ArticleJulien Durant: “The biggest challenge is the fight against greenwashing”
Picture Organic Clothing CEO Julien Durant has a clear mission: To solve the problems his company – and our industry – makes. Find out how.
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ArticleReinhold and Diane Messner become advisors to Jack Wolfskin Brand Council
Source: Jack Wolfskin / Reinhold Messner Reinhold Messner 78-year-old alpinist Reinhold Messner and his wife Diane became advisors and exclusive members of the Brand Council of the German outdoor brand Jack Wolfskin. At the same time, Messner joins the Jack Wolfskin Discovery Team. Within the newly established ...
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ArticleVista Outdoor posts Q4 loss, 83 percent decline in FY operating income
Vista Outdoor, which owns 41 sporting, outdoor and action sports brands, reported a Q4 operating loss of $292.4 million and an Ebit loss of $311.8 million as the group’s outdoor products segment continued to navigate market uncertainty and retail inventory challenges. The company recorded a goodwill impairment and trademarks amounting ...
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ArticleCoDi lifts FY outlook, but cautious on Q2
Compass Diversified (CoDi) anticipates a “significant snapback” in revenue growth and profitability within key businesses once a current industry inventory destocking cycle ends. The group’s current Q2 forecast is both cautious and conservative despite its decision to lift its FY23 adjusted earnings range to $110 to $135 million and consolidated ...
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ArticleGarmin maintains FY23 outlook
Garmin, which generated an 85 percent increase in Q1 free cash flow to nearly $232.4 million and paid a quarterly dividend approaching $140 million, is standing by its FY23 financial guidance that calls for approximate revenues of $5.0 billion and pro forma EPS of $5.15 a share. In Q1, ...
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ArticleFirst UK, then Europe: New EOG service provides sell-through analysis for the outdoor market
After two years in development, the European Outdoor Group (EOG), led by Pauline Shepherd, and Sporting Insights have announced the launch of the Outdoor Market Intelligence Service, a retail sales reporting tool for the industry. The new service will initially be launched in the UK market, but ...
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ArticleHigh inventories and sluggish consumer climate lead to decline in sales at Bike24
Even the good business performance of the localized online stores in the newly opened country markets of Spain, France and Italy, with an average increase in sales of 109 percent (compared to the prior-year period), could not really mask the business figures of the German cycling, running and swimming sports ...
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ArticleRocky Brands posts gross margin improvement despite loss
Helped by product price increases in 2022 and lower logistics costs, Rocky Brands improved its Q1 gross margin by 200 basis points to 39.6 percent. But the Georgia Boot parent reported a 69 percent decline in operating income to $4,155,000 against $13,197,000 for the period ended March 31. The Q1 ...
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ArticleClarus experiences strong Black Diamond demand in Europe
Hampered by a difficult year-over-year comparison in its Adventure segment and promotional activity in the North American region, Clarus Corp. reported a 42 percent decline in Q1 operating income to $4.69 million from $8.1 million. Net income was down by 69.9 percent to $1.6 million from $5.3 million for the ...
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ArticlePrimus acquisition completed, new company Primus-Silva AB in operation
Silva Sweden AB has acquired 100 percent of the shares in Primus AB from Fenix Outdoor AB. The transaction closed on April 28, 2023, after the acquisition became official on Dec. 7, 2022. Since then, Primus, Silva and Fenix have worked to complete all operational transitions, including business systems, internet, ...
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ArticleColumbia's Q1 sales boosted by early spring shipments and DTC channel
While Columbia Sportswear generated both lower gross and operating margins in Q1, the company was able to report 10 percent constant-currency revenue growth to $820.6 million thanks to early shipments of Spring 2023 wholesale orders and a reported 4 percent increase in direct-to-consumer sales to $368.1 million. “2023 is off ...
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ArticleThule delivers improved Ebit margin despite lower sales
Thule Group, bolstered by Summer 2022 price increases, lower freight costs and reduced selling expenses, generated a 17.2 percent Ebit margin in Q1 ended March 31, despite a 26.6 percent drop in net sales to 2,226 million Swedish kroner (€198.8m) compared to SEK 3,034 million. Period operating income declined by ...
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ArticleHelen of Troy gets operating income lift in Home & Outdoor
Fourth quarter operating income in Helen of Troy’s Home & Outdoor segment, which includes Osprey Packs, Oxo and Hydro Flask, rose by 38.5 percent to $31.3 million from $22.6 million due to lower inventory obsolescence expenses and the favorable impact of acquisition-related costs in the year-ago period. Segment revenues were ...
