News Briefs
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News briefsAngling Direct sees full-year profit double
UK-based fishing tackle retailer Angling Direct saw its pre-tax profits climb to £1.5 million (€1.7m) in the year ended Jan. 31, 2024, up from £700,000 (€815,000) the year before, driven by the development of its omnichannel offer and the growth of its store footprint. Gross margin increased by 34.9 percent. ...
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News briefsGiant Group says stock overhang also weighs on Q1 sales results
The ongoing strained situation in the bicycle industry also has an impact on the sales results of the leading Taiwanese bicycle manufacturer Giant Manufacturing Company Ltd in the first quarter of 2024. The continued large-scale reduction in inventories in Europe and North America and the reluctance to place orders on ...
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News briefsSolo Brands hurt by lower DTC traffic in Q1
Solo Brands reported an operating loss of $6.4 million against a profit of $3.2 million for the period ended March 31. Adjusted Ebitda tumbled 72 percent to $4.3 million as gross margin sunk by 250 basis points to 59.2 percent on a shift in channel mix to the lower gross ...
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News briefsHelly Hansen sales fall in Q1
Reported Q1 sales at Canadian Tire-owned Helly Hansen declined by 7.8 percent to 192.2 million Canadian dollars (€130.3m) from C$208.4 million for the three months ended March 30. Brand sales outside of Canada accounted for nearly 93 percent of the total, or C$178.2 million (€120.8m). The Norwegian company’s constant currency ...
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News briefsTopgolf Callaway Brands lowers guidance on soft Wolfskin trends, currency
Topgolf Callaway Brands has dropped its annual revenue guidance range to $4.44–$4.48 billion, citing both significant currency volatility and weaker trends in its Jack Wolfskin business. In Q1 ended March 31, the group’s Active Lifestyle segment suffered a 15.2 percent revenue decline to $271.5 million due to lower wholesale sales ...
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News briefsOrbea’s revenue down for the first time in 8 years
Orbea closed out full-year 2023 with its first drop in revenues in eight years, according to Palco23. Although the Basque cycling brand does not disclose them in full, sales appear to have come in at around €374.4 million, down by 6.4 percent from the previous year’s €400 million or so. ...
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News briefsLowa’s 2023 financial results stable despite weaker demand
Lowa’s production volume has been stable in the past financial year despite weaker market demand and delays due to introducing new IT systems in production. In its 100th year, the German hiking and mountaineering boot specialist, part of the Italian Tecnica Group, sold around 3.06 million pairs of shoes, roughly ...
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News briefsDurango, Xtratuf brands drive Q1 sales for Rocky Brands
Bolstered by double-digit sales increases for its Durango and Xtratuf footwear brands, Rocky Brands reported a 2.2 percent jump in Q1 revenues to $112.9 million from $110.4 million. Excluding Servus, a brand divested in March, sales rose by 7.6 percent year-over-year. Wholesale revenues (also excluding Servus) rose by 7.0 percent ...
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News briefsNewell Brands broadens focus for Coleman
Still working to turn around the fortunes of its struggling Outdoor & Recreation segment, parent Newell Brands has made numerous changes to the business. These include installing a new segment leadership team and broadening Coleman’s focus to all outdoor activities instead of camping exclusively. Newell CEO Chris Peterson told analysts ...
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News briefsPolygiene’s recovery appears underway
Polygiene, which forecasted a recovery in business conditions in mid-February, reported a 25 percent rise in Q1 sales to 35.1 million Swedish kronor (€3.02m) for the period ended March 31. Ebitda improved to SEK 4.8 million from negative SEK 1.4 million. The group generates an estimated 30 percent of its ...
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News briefsMerida reports two-digit 2023 decline in sales and profit
Taiwan’s second-largest bicycle manufacturer Merida Industry Co., Ltd. achieved total sales of TWD 27.16 billion (€787.84 million) in FY2023. Compared to 2022, this is a decline of 26.4 percent. Although Merida is also a public company, it only publishes the figures it is required to publish. At TWD 3.39 billion ...
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News briefsGiant suffers double-digit decline in sales, profit in 2023
Taiwanese Giant Manufacturing group blamed the falloff on weak demand for entry- and mid-level bikes in Europe and North America and high inventory levels in the global market. The group did point out that there remains a “strong demand” for performance products in Europe and North America and that the ...
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News briefsLeatt generates higher DTC sales in down year
Leatt, the South African developer and marketer of protective equipment for extreme and high-velocity sports, experienced the first indicators of a recovery in certain segments in Q4 despite 2023 being a challenging year for the cycling and motorcycle industries. The final period net loss was $1.46 million versus a ...
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News briefsAngling Direct announces 10% sales increase
U.K.-based fishing tackle retailer Angling Direct saw its revenues increase by 10.2 percent to £81.7 million (€95.7m) in its latest financial year to January 2024. Domestic sales grew 9 percent to £77 million (€90.2m), boosted by new store openings in Cardiff and Yorkshire. The company now has 47 stores across ...
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News briefsNew Wave increases operating profit by 5% in FY23
Annual operating profit for Swedish New Wave Group, whose business operates in three segments, increased by 5 percent to 1,577.2 million Swedish kroner (€140.4m) for the 12 months ended Dec. 31 as total revenues inched up by 2 percent to SEK 3,874.6 million (€344.9m) from SEK 3,782.3 million. In Q4, ...
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News briefsHelly Hansen sales rose by 7.1 percent in 2023
Helly Hansen, the Norwegian brand owned by Canadian Tire, generated C$837.2 million (€576.2m) in 2023 sales versus C$781.9 million in 2022. In the final quarter, the business suffered a 9.3 percent sales decline to C$274.0 million (€188.6m) against C$301.8 million due to the timing of shipments as more fall/winter products ...
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News briefsPolygiene says recovery in sight after difficult year
Polygiene, which suspended its long-term financial guidance in December, reported a Q4 operating loss of 302.4 million Swedish kronor (€26.7m) for the three months ended Dec. 31. Total sales fell by 23 percent to SEK 30.9 million (€2.7m) from SEK 40.0 million but gross margin expanded by 570 basis points ...
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News briefsJack Wolfskin Ebitda about ‘breakeven’ in 2023
Topgolf Callaway Brands President and CEO Chip Brewer spoke briefly about Jack Wolfskin during the company’s Q4 conference call this week, commenting that the segment’s margins were “challenged” during the final period due to ongoing softness in Europe and high inventories at retail. However, the outdoor brand’s business in China ...
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News briefsNewell Brands’ Outdoor & Rec segment needs a turnaround
Newell Brands Outdoor & Recreation segment that includes Coleman, CampingGaz, and Marmot is the company’s business unit “in most need of a turnaround,” President and CEO Chris Peterson told analysts as the Atlanta company reported Q4 and FY23 results. The Outdoor & Rec business, which has a new marketing ...
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News briefsJohnson Outdoors reports soft Q1 on low demand
High retail inventory levels and soft consumer demand contributed to poor Q1 results at Johnson Outdoors. Operating profit slid 99 percent to $46,000 from $5.5 million, and net income was down by 33 percent to nearly $4.0 million from $5.9 million. The group was able to improve overall gross margin ...
