All Financial results articles – Page 11
-
News briefsSolo Brands reiterates FY guidances; Q3 net bolstered by tax benefit
Solo Brands, helped by a nearly $6.2 million tax benefit, reported net income of $4.1 million versus a loss of $2.2 million in Q3 ended Sep. 30. The operating loss for the period improved by 60 percent to a loss of $1,325,000 versus $3,285,000 in the year-ago period. A mix ...
-
ArticleRenewcell reports operating loss of €4.4m, believes in break-even
Swedish textile recycler Renewcell has reported an Ebitda result of -51 million Swedish kroner (€-4.4m) for Q3 of 2023, compared to SEK -59 million (€-5.0m) in the same period last year. Net sales amounted to SEK 84 million (€7.2m), in line with the same quarter last year. Cash flow from ...
-
ArticleLeatt with a positive outlook on the horizon despite weak Q3 results
The two-wheeler protective equipment supplier Leatt Corporation from Durbanville, South Africa, has suffered further heavy losses in the third quarter of the current financial year. Compared to Q3 of the previous year, total sales fell by 48 percent to US$12 million. The result for the first three sales quarters of ...
-
News briefsLenzing cuts 500 jobs
Lenzing plans to reduce global personnel costs by up to €30 million, or the equivalent of around 500 full-time jobs, by not filling positions that fall vacant due to retirements and natural attrition, as well as by job cuts. The move is part of a larger plan to achieve €100 ...
-
ArticleFox Factory’s SSG sales slump weighs on overall result
With the presentation of the Q3 report for FY2023, suspension specialist Fox Factory Holding also announces the signing of a definitive agreement to acquire Marucci Sports’ parent company Wheelhouse Holdings. At the same time, the US company has adjusted its sales forecast for 2023 downwards to between $1.43 and 1.47 ...
-
News briefsCoDi’s large premium for Marucci will benefit the business
Compass Diversified’s decision to divest its Marucci Sports business to Fox Factory for $572 million after purchasing the brand for $200 million in 2020 will help the company reduce its cost of capital and give it “greater ability to increase shareholder returns,” it said in a statement. In Q3 ...
-
ArticleBike24 reports sales increase for complete bikes, PAC sales drop
As previously reported, the board of listed e-commerce bicycle retailer Bike24 Holding AG has adjusted and downgraded its previous full-year forecast “based on preliminary calculations for the third quarter of 2023.” The Q3 report, presented on Nov. 2, highlights the continued growth of its complete bike sales instead of declining ...
-
ArticleGarmin posts strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
-
ArticleVista Outdoor will prioritize debt reduction ahead of vote on Sporting Products divestiture
Vista Outdoor, which agreed in mid-October to sell its Sporting Products business to Czechoslovak Group a.s. (CSG) for an enterprise value of $1.91 billion, says it will continue to prioritize debt reduction ahead of a vote by shareholders to approve the sale. The company finished Q2 on Sept. 24 with ...
-
ArticleFenix Outdoor vows to spend more on marketing
Faced with still too much inventory but also high supply chain and product standards, Fenix Outdoor intends to dedicate more dollars to marketing, particularly in Germany and the US, to “explain to the [outdoor] consumers what we stand for,” commented Chairman Martin Nordin in a statement. In the ...
-
ArticleVF abandons FY guidance, commences turnaround strategy
Admitting its U.S. business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
-
News briefsNewell Brands reports quarterly loss for Outdoor & Rec business
The third quarter operating loss in Newell Brands’ Outdoor & Recreation segment, which includes Coleman and CampingGaz, was $42 million against a profit of $6 million for the three months ended Sept. 30. The results include a non-cash impairment charge of $22 million. The normalized operating loss was $7 million ...
-
ArticleDeckers raises full-year guidance again on continued strength of Hoka, plans to divest Sanuk
Bolstered by sales contribution from its Ugg brand and continued momentum in its Hoka business, Deckers Brands generated a 76 percent increase in Q2 operating income to $224.6 million on nearly 25 percent total net sales growth to $1.09 billion for the three months ended Sept. 30. Net income was ...
-
ArticleThule gets Q3 boost from bike-related sales in Europe
Sales increased by 8.0 percent to 2,311 million Swedish kroner (€196.0m) for the three months ended Sep. 30 but were up only 0.8 percent on a constant-currency basis. Operating income rose by 86 percent year-over-year to SEK 359 million (€30.4m) as the company’s new CEO and President Mattias Ankarberg took ...
-
ArticleColumbia lowers FY23 outlook, braces for challenging Spring ’24
Columbia Sportswear, despite making strides in its ongoing inventory reduction program and improving its quarterly gross margin by 70 basis points to 48.7 percent, reported a 7 percent decline in Q3 net income to $103.5 million from $111.8 million for the period ended Sep. 30. Period operating income was also ...
-
News briefsPolygiene with operating loss in Q3 due to lower sales
Despite a 30 percent decline in third-quarter revenues to 28.7 million Swedish kroner (€2.4m) and a corresponding operating loss of SEK 2.4 million, Polygiene is optimistic about Q4 results as early orders have exceeded expectations. The group, which said Q3 results showed signs of a slow recovery, has shifted its ...
-
ArticleMips: Gloomy year due to high inventory levels
Both weak demand and high inventory levels in the bicycle helmet category, which is also served by helmet safety technology provider Mips AB, led to another whopping 31.9 percent drop in sales in Q3 of FY23 compared to the same quarter in 2022. However, the situation gradually improved during the ...
-
News briefsBike24 again revises 2023 revenue forecast
Based on preliminary calculations for the third quarter of 2023, the Management Board of listed e-commerce bicycle retailer Bike24 Holding AG decided on Oct. 25 to adjust the forecast for the company’s revenue development in fiscal year 2023, or more precisely: to correct it downward. The company’s already revised forecast ...
-
News briefsAngling Direct announces half year sales and profit growth
UK-based fishing tackle retailer Angling Direct has announced total group sales of £43.3 million (€49.6m) for the first six months ended July 31, representing an 11.4 percent increase. Like-for-like store sales increased by 4.9 percent. Domestic retail stores were £24.4 million (€28.0m), up 11.3 percent. Online sales rose by 8.3 ...
-
ArticleShimano cites weak demand as nine-month results slip
Numerous global factors, including a “lackluster economy” in Europe and a ”sluggish” recovery in China, Shimano reported a 19.8 percent decline in total sales to ¥375.27 billion (€2.36bn) for the first quarters of fiscal 2023. Operating profit fell by 43.0 percent to ¥72.09 billion (€453.0m) from ¥126.58 billion for the ...
