Latest News & Analysis – Page 168
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ArticleGoPro widens losses
Sales for the U.S. action camera brand tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net ...
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Moody’s and S&P forecast 15% sales decline at Amer Sports
In a new report, rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda was a loss of €26 million for the first half, against a ...
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ArticleDirect sales lifts Yeti’s results
Yeti, the American brand of coolers and drinkware and other outdoor equipment, recorded a 7 percent gain in revenues to $246.9 million, driven by strong growth in direct-to-consumer (DTC) sales, which increased by 61 percent to $133.0 million. This was driven by both Coolers & Equipment and Drinkware, due to ...
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ArticleVista Outdoor benefits from resurgence in outdoor recreation activities
The Outdoor Products division of Vista Outdoor, which includes brands such as Bell, Giro, Camelbak, Camp Chef and Bushnell Golf, recorded a 4 percent drop in sales to $145.0 million in the first fiscal quarter ended on June 28, largely due to restrictions related to the Covid-19 outbreak. These restrictions ...
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ArticleCallaway’s profit plunge due to Jack Wolfskin writedown
Callaway Golf Co. ended the second quarter in the red due to a $174 million impairment charge related to the Jack Wolfskin goodwill and trade name. It posted a net loss of $167. 7 million, versus net income of $28.9 million for the year-ago quarter. The management said the charge ...
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ArticleMammut struggles amid restructuring
Revenues for the Mammut Sports Group declined by 31.4 percent to 80.9 million swiss francs (€74.9m-$88.6m) in the first half of 2020, including a drop of 29.1 percent in comparable sales. The operating loss widened to CHF 23.3 million (€21.5m-$25.5m), down from an operating loss of CHF 5.3 million for ...
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ArticleMillet and Lafuma expand environmental and social strategy
The French outdoor brands Millet and Lafuma, brands of the Millet Mountain Group, which belongs to the Calida Group, have further developed their environmental and social strategy in line with current developments under the motto “Rising Change.” According to its own statements, the Millet Mountain Group has already been paying ...
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ArticleAmazon’s Swedish website has leaked
After the entire website has leaked thanks to a Finnish software developer, one thing is for sure: After years of speculation, Amazon is finally being launched in Sweden. Until now, Swedish consumers and companies have only had access to the other European Amazon websites. According to the Swedish trade magazine ...
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ArticleITK and Bosch Research set up competence center for intelligent textiles
ITK Engineering, a German technology company operating internationally with customers mainly in the automotive and aerospace industries and a 100-percent subsidiary of the Robert Bosch GmbH since 2017, joined forces with Bosch Research to set up the Smart Textile Competence Center in the German town of in Rülzheim to investigate ...
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ArticleWolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
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ArticleLenzing's H1 sales collapse due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
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ArticleRossignol to sell Raidlight except for Outdoor Experiences division
The Rossignol Group has announced the sale of Raidlight Vertical, a French company specializing in footwear, apparel and equipment for trail running and ski touring, with an annual turnover of around €8 million. It will only keep and expand its Outdoor Experiences division, which organizes trail running, Nordic walking, mountain ...
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ArticleFESI welcomes free trade agreement between EU and Vietnam
The Federation of the European Sporting Goods Industry (FESI) is welcoming the long-awaited formal entry into the Free Trade Agreement between the European Union and Vietnam (EVFTA) on Aug. 1. After more than eight years of negotiations, the EU and Vietnam will finally benefit from a free trade agreement that ...
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ArticleNewell sales drop by 20%
Currency headwinds and the effects of the Covid-19 pandemic caused Newell Brands’ revenues for the second quarter to drop by 14.9 percent to $2.1 billion. The gross margin contracted by 3.4 percentage points to 31.5 percent due to measures to reduce debt, currency fluctuations and unfavorable mix. During the period, ...
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ArticleJohnson Outdoors tries to keep up with post-lockdown demand
Strong Fishing, Watercraft Recreation and Camping sales after the lockdowns were eased in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ...
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ArticleVF expects improvement despite difficult Q1
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleHoka’s momentum saves Deckers’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
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ArticleColumbia ends Q2 with loss
After a difficult first quarter to 2020 because of the Covid-19 pandemic, Columbia Sportswear Company is not having more luck in the second one. It has posted a net loss of $50.7 million, compared with net income of $23.0 million for the year-ago quarter, while sales dropped by 40 percent ...
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ArticleColumbia Sportswear releases 2019 Corporate Responsibility Report
Columbia Sportswear Company (CSC) released its 2019 Corporate Responsibility Report, which includes highlights from the progress made throughout 2019 in the three main areas of focus in its corporate responsibility strategy – empowering people, sustaining places and responsible practices. The 56-page report assesses work accomplished in 2019 by its four ...
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ArticleRussian outdoor goods industry resumes operation
Russian outdoor industry companies hit by the Covid-19 pandemic are gradually getting back to business. N1Sport – according to its owner, Alexey Surkin – has not only resumed production but expanded its range, beginning to manufacture athletic apparel for the mass market under the Sterin brand. The first products in ...
