All Financial results articles – Page 46
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ArticleThule grants warrants after a small sales drop
While withholding the payment of dividends to save cash because of the Covid-19 epidemic, Thule Group’s annual meeting approved an incentive program for executives and key employees after the company reported a relatively small 7.5 percent decline in sales during the first quarter of 2020, with drops of 13 percent ...
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ArticleCallaway’s shares rise on longterm prospects
Callaway Golf Co. released preliminary results for the first quarter which pointed to a drop in revenues and earnings due the coronavirus, but it expressed optimism going forward for its golf equipment and outdoor clothing operations, leading the share price to jump by 17 percent. The group said it expects ...
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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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News briefs
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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Moody’s is pessimistic about Amer’s outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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ArticleKathmandu’s sales jump by 52% on Rip Curl acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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ArticleGregory continues to outperform
Gregory Mountain Products continued to outperform other brands in the portfolio of Samsonite International last year including High Sierra, the group’s more lifestyle-oriented brand of backpacks. Gregory raised its total turnover by 20.3 percent to $69.8 million in 2019, rising by 21.0 percent in constant currencies. The growth was driven ...
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ArticleWolverine wants to save $500 million
As reported in a separate article, Wolverine Worldwide was the company in our industry that got the biggest hit on the stock exchange between Jan. 1 and March 27. On March 26, Wolverine released a detailed statement about the proactive and precautionary measures that it is taking to navigate through ...
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News briefs
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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ArticleAnta has a strategy for loss-making Amer
(SGI) Anta Sports Products reported a 30.3 percent increase in net income to 5,344 million yuan renmimbi (€695.4m-$752.2m) for 2019, while revenues increased by 40.8 percent to RMB 33,927 million (€4.4bn-$4.5bn). The gross margin and the operating margin reached a five-year high, but the net profit margin fell to record ...
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News briefs
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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ArticleNo pressure for the sale of Mammut
As previously reported, the Conzzeta Group plans to divest its Outdoor division, which essentially consists of the Mammut Sports Group. Addressing financial analysts, the Swiss group’s management pointed out, however, that it is under no pressure to sell it at just any price because of the current economic uncertainty. For ...
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ArticleHeiQ and Polygiene help defeat coronavirus
HeiQ draws attention to the fact that its Viroblock NPJ03, an antiviral and antimicrobial textile treatment, has been tested effective against coronavirus in face-mask testing, reducing virus infectivity by more than 99.99 percent. The treatment could therefore prevent textiles from becoming a host surface for the propagation of harmful viruses ...
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ArticleLenzing focuses on specialty fibers to achieve sustainable growth
Due to a “historically difficult” market environment in 2019, Lenzing posted lower revenues and earnings for 2019. Sales reached €2,110 million, down by 3.3 from the previous year, hampered by lower selling prices and standard fiber volumes, the company said. The Ebitda margin narrowed by 2.1 percentage points to 15.5 ...
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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 ...
