News Briefs – Page 13
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News briefsExtra charges for Outdoor drive Smith & Wesson into a loss
A $98.7 million goodwill impairment charge for its Outdoor Products & Accessories division, whose spin-off should be completed in August, led the newly named Smith & Wesson to book a net loss of $66.1 million for the fourth quarter ended on April 30, compared with net income of $9.8 million ...
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Yeti shareholders cash out at a low price
Major former shareholders of Yeti Holdings have continued to unload many of their shares, but they apparently did it at a slight loss in a secondary offering, underwritten by Goldman Sachs, that was scheduled to expire on or around June 1. On May 28, they offered 6,067,125 shares at a ...
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News briefsTeva and Hoka help limit the damage for Deckers
Despite headwinds from Covid-19, robust sales at Hoka One One and Teva helped limit the damage for Deckers Brands’ revenues in its fourth fiscal quarter, ended on March 31. The group’s quarterly sales declined by 4.9 percent to $374.9 million, or by 4.5 percent in constant currencies, while net income ...
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News briefsCovid-19 halts Gregory's growth
Like the rest of the Samsonite group, Gregory has been affected by the Covid-19 pandemic. After posting strong increases every quarter, the technical backpack brand of the group suffered a 7.6 percent drop in sales on a currency-neutral basis during the first quarter. The less technical High Sierra brand endured ...
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News briefsDorel rides well on higher demand for bikes
(SGI) Dorel Sports, the bike division of Dorel Industries, managed to grow through the Covid-19 pandemic. It registered revenues of $188.2 million for the first quarter, representing a 2.0 percent increase from the same quarter a year earlier, driven by strong performances at the Cycling Sports Group (CSG), whose brands ...
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News briefsFlat sales at Helly Hansen
Canadian Tire Corp. reports that Helly Hansen booked a 7.3 percent sales decline in the first quarter ended on March 28, largely due to the sharp decline of the Norwegian kroner against the U.S. dollar, which led to a foreign currency loss of $7.0 million for the Canadian group. In ...
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News briefsGoPro's sales drop by more than half
In line with its previous warning, GoPro reported a turnover of $119 million in the first quarter, more than half the $243 million level of the year-ago period. The transition to a more efficient and profitale direct-to-consumer model reduced operating expenses mitigating the decline in the gross margin, which was ...
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News briefs
Closeouts helped XXL to grow in Q1
A major clearance program launched in reaction to poor winter conditions helped XXL to boost its sales by 7 percent in the first quarter to 2,162 million Norwegian kroner (€191.7m-$208.2m), with 3 percent growth on a same-store basis, but this led the Nordic sports retailer to book negative Ebitda of ...
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News briefs
Hydro Flask helps Helen of Troy to grow
Helen of Troy reported a nice 15.0 percent increase in sales to $144.9 million for its Housewares segment, which includes Hydro Flask and OXO, for the fourth quarter of its financial year ended on Feb. 29, despite a drop outside the U.S. Lifted by new product introductions, sales grew online ...
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News briefsMoncler suffers 18% drop in Q1 sales owing to coronavirus
(SGI) Moncler, one of the public companies that have weathered the collapse of the stock exchange best, saw consolidated sales decrease by 18.1 percent at current exchange rates, or by 18.4 percent at constant exchange rates, in the first quarter to March 31 as compared to the first quarter a ...
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News briefs
Polygiene on the rise
(SGI) Polygiene stabilized its business in 2019, with sales declining by just 0.3 percent to 68.8 million Swedish kronor (€6.34m-$6.82m), with cash flow improving and turning positive. Sales actually grew by 6.3 percent excluding the divested Protective Surfaces business, but the operating margin declined and the company ended up with ...
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News briefs
Remote voting for Thule’s annual general meeting
Thule Group is encouraging shareholders to exercise their voting rights remotely in advance of the Swedish company’s annual general meeting, scheduled for April 28, in order to minimize the number of people gathered at its location. They have to fill out and send a registration form by April 22 to ...
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News briefs
Wolverine's annual general meeting will be virtual
Wolverine Worldwide announced on April 17 that its annual general meeting of shareholders will be held in a virtual-only format on April 30, due to pubic health consideration related to the Covid-19 pandemic. Shareholders who were registered as such on March 18 will be invited to visit a dedicated website ...
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Columbia’s Covid-19 update
Columbia Sportswear has suspended its quarterly dividend, its stock repurchase program and its Feb. 6 guidance for its results in the first half of 2020 and the whole financial year. The company will provide a new update with its first-quarter results on April 30. Meanwhile, it reports that the vast ...
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News briefsMammut falls by 26.2% in Q1
The Outdoor segment of the Conzzeta Group, which basically consists of the Mammut Sports Group, suffered a drop of 26.2 percent in revenues on a currency-neutral basis in the first quarter. They were down by 28.2 percent on a reported basis to 50.8 million Swiss francs (€48.3m-$52.3m). The group noted ...
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Calida to revise board leadership
To weather the storm of Covid-19, the Calida Group is withholding its financial forecasts and asking its shareholders not to pay a dividend for the 2019 financial year. The Swiss owner of the Lafuma, Millet and Oxbow brands has also nominated Hans-Kristian Hoejsgaard for the presidency of its board of ...
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Fenix Outdoor suggests canceling dividend
On March 17, the board of directors of Fenix Outdoor proposed to the general meeting of shareholders that no dividend be paid this year. The board justified this proposal by saying that the market situation will remain turbulent in view of the global situation. The coronavirus and the measures taken ...
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News briefs
Standard & Poors and Moody’s downgrade Boardriders
(SGI) Standard & Poors and Moody’s have both downgraded the credit rating of Boardriders, the parent company of Quiksilver, Roxy, Billabong and other action sports brands. S&P has reversed its outlook to negative based on results and guidance provided by the company to the rating agency. It feels that its ...
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News briefs
Zalando grows and pushes its marketplace
(SGI) Zalando’s momentum keeps going, and the e-tailer is looking at new ways to grow after posting strong results for the fourth quarter of the year. One of the highlights was a jump in the number of site visits, which progressed by 31.9 percent to 960.7 million. The company’s revenues ...
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Calzados Bestard’s annual sales down by 5%
According to its sales director, Mats Lindholm, Calzados Bestard, the Spanish brand of mountain boots, generated €5 million in revenues last year. This was 5 percent less than the record-setting total for 2018, when the Mallorcan brand released a number of new models, among them a collection with Gore-Tex Surround. ...
