News Briefs – Page 5
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News briefsSolo Brands turns Q1 profit, maintains FY guidance
Solo Brands reported a $933,000 net profit against a loss of $2.01 million for Q1 ended March 31. Operating income was $3.2 million against a loss of $3.2 million. Quarterly revenues for the parent of Oru Kayak, Isle paddleboards, Chubbies apparel and Solo Stoves rose by 7.3 percent to $88,207,000 ...
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News briefsNewell Brands’ outdoor & recreation unit reports another quarterly loss
Newell Brands’ outdoor & recreation business segment, which includes Coleman, CampingGaz, Marmot, and Ex-Officio, reported an operating loss of $1 million versus a profit of $46 million in Q1, which ended March 31. Outdoor & recreation’s normalized operating income fell by 74 percent to $13 million from $50 million. Total ...
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News briefsNormalcy returns at Calzados Bestard
After a couple of extraordinary years, things seem to be returning to normal at Calzados Bestard, the 83-year-old mountain-boot firm in Mallorca, Spain. Sales for the first quarter of 2023 were down by 20 percent year-on-year, according to CMDsport, which spoke with sales director Mats Lindholm. Lindholm’s realignment is visible ...
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News briefsLeatt Corp. posts double-digit growth in global sales, despite challenging market dynamics
South African protective equipment maker Leatt Corp. has announced revenues of US$76.3 million for the full year ending Dec. 31, 2022, up 5 percent from 2021. International sales increased by 13 percent to $59.02 million. The company reported a net income of $9.96 million or $1.71 per share for the ...
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News briefsLa Sportiva posts 30% sales increase
La Sportiva’s sales increased to €216 million in 2022, up 30 percent from 2021, compared to €125 million in 2020. International sales accounted for 80 percent of the company’s revenues. Sales in both Europe and the U.S. grew double-digit, driven by the rising interest in outdoor activities. Founded in 1928 ...
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News briefsSigna Sports United plans to return to profitability in fiscal 2024
The sports e-commerce company Signa Sports United (SSU) is undergoing a strategic realignment assessment to generate long-term shareholder value that it intends to reveal at the end of Q2 but is projecting an ongoing challenging environment through the remainder of the FY due to inflationary pressures impacting both consumer sentiment ...
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News briefsGregory’s sales growth slows in FY22
Gregory Mountain Products sales grew 3.4 percent last year, from $59.4 million to $61.4 million, due to the strong dollar and a difficult comparison to last year’s double-digit recovery following the Covid crisis. However, it would have increased by 13 percent at constant exchange rates. Parent company Samsonite International’s luggage ...
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News briefsVibram plans to double footwear sales
Vibram, the Italian sole producer, aims to double its sales of own-brand footwear, which reached €18 million in 2022, Paolo Manuzzi, the chief executive of the Italian sole producer, said in an interview with the daily Il Sole 24 Ore. Last year, the group’s overall sales rose by 50 percent ...
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News briefsGiant Group’s 2022 ends with double-digit growth
Taiwan’s leading bicycle manufacturer Giant Manufacturing Co. Ltd (Giant Group) saw its FY2022 sales increase 12.5 percent year-on-year to 92.04 billion Taiwan dollars (€2.82bn). However, rising material and labor costs and increasing OE business affected the group’s gross margin and operating profit. Year-on-year, net profit before tax was flat at ...
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News briefsAmerican Outdoor Brands reports Q3 loss
American Outdoor Brands suffered a Q3 operating loss of $3.0 million against an operating profit of $4.7 million in the period ended Jan. 31. The net loss was $2.9 million versus a profit of $3.8 million. Gross margin improved 130 basis points to 47.1 percent from 45.8 percent, but net ...
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News briefsSolo Brands sets FY23 revenue range
Solo Brands, parent of Oru Kayak, Isle paddleboards, Chubbies apparel, and Solo Stoves, is forecasting 0.5 percent to 4.3 percent revenue growth in FY23 to a range of $520 to $540 million with a corresponding adjusted Ebitda margin of 16.5 to 17.5 percent. In Q4, the Texan company reported ...
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News briefsSales up but margins slim at Running ZGZ
Running ZGZ of Zaragoza, Spain, managed to boost revenues by 5 percent year-on-year for 2022, but owner David Constante, who spoke with CMDsport, remains dissatisfied. The record haul of €710,000 is up 65 percent from 2020, but the forecast for 2022 was an increase on the order of 20 to ...
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News briefsSpinnova announces triple revenue in FY 2022, Woodspin factory in operation
In its full-year financial statement, the Finnish biomaterials company Spinnova reports significant growth in its staff as well as the company’s results. Full-year revenues grew to almost €24.3 million for 2022, which is an increase of more than 300 percent year on year. The company completed the construction of its ...
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News briefsAngling Direct posts revenue growth, driven by in-store sales
Angling Direct, the British omnichannel fishing tackle and equipment retailer, posted sales of £74.1 million (€84m) for the financial year ended Jan. 31, 2023, representing a 2.2 percent increase from the prior year. Sales were boosted by the opening of new stores in Washington (July), Coventry (August) and Stockton-on-Tees (September). ...
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News briefsVF issues Eurobonds worth €1bn
VF Corp. intends to use proceeds from the proposed offering of two €500 million tranches of notes, which are due in 2026 and 2029 with respective coupon rates of 4.125 percent and 4.25 percent for debt repayment, general corporate purposes and to fund certain sustainable development projects. J.P. Morgan, Morgan ...
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News briefsRenewcell posts triple-digit sales growth in FY22
Renewcell, the Swedish dissolving pulp manufacturer, reported net sales of 12.6 million Swedish kronor (€1.1m) for the full year to Dec. 31, 2022, up from SEK 2.8 million (€253K) in the previous year. Through its patented process, the company produces a dissolving cellulose pulp known as Circulose from 100 percent ...
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News briefsPolygiene Group restructure, reports Q4 operating loss
Polygiene Group recorded a net loss of 5.1 million Swedish krona (-€480,000) against a profit of SEK 39.0 million (€3.9m) for the period ended Dec. 31. Ebitda came in at SEK 1.9 million, excluding an inventory adjustment, restructuring costs, and expenses related to the acquisition of Biomaster and ending a ...
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News briefsHelly Hansen revenues increase by 21% in 2022
Annual revenues for Helly Hansen, the Norwegian outdoor brand owned by Canadian Tire, were C$781.2 million (€571.1m) versus C$644.9 million. An estimated 91 percent of Helly Hansen’s sales total, or C$710.7 million (€519.6m), was generated in markets outside of Canada. That represented a 20 percent year-over-year increase. Meanwhile, Canadian Tire ...
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News briefsKMD reports H1 sales on improving trends
KMD Brands Limited – the New Zealand-based global outdoor, lifestyle and sports company that includes the Kathmandu, Rip Curl and Oboz brands – citing continued sales momentum in Q2, reported record H1 group sales of NZ$546 million (€322.6m) for the six months ended Jan. 31. According to the company’s preliminary ...
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News briefsRevolutionRace sales up 30% in Q2
Under new CEO Paul Fischbein, RVRC Holding generated record quarterly sales of 509 million kroner (€46.5m) against SEK 392 million for the second quarter ended Dec. 31. Adjusted EBIT was flat at SEK 117 million (€10.7m) as gross profit contracted to 70.7 percent from 71.4 percent. EBIT margin came in ...
