Latest Financial News – Page 14
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ArticleCompass Diversified branded results impacted by PrimaLoft
Net income from continuing operations in Compass Diversified’s (CoDi) branded consumer companies related to sports, outdoor and apparel (5.11 Tactical, Boa, Marucci Sports, PrimaLoft, and Velocity Outdoor) declined by 81 percent to $2.79 million from $14.73 million in Q4, negatively impacted by operating losses at both PrimaLoft and Velocity Outdoor. ...
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ArticleNon-cash impairment charge drags Clarus to Q4 loss
Clarus Corp., whose management described 2022 as one of its most challenging years due to various macroeconomic headwinds, reported a net loss of $81.6 million against a profit of $14.0 million in Q4 ended Dec. 31. The result was impacted by a $92.3 million non-cash impairment charge. The fourth quarter ...
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ArticleAfter an 18% decline in Q4, Rocky Brands expects sales to drop 7-9% in 2023
Rocky Brands expects sales to decline by about 7 to 9 percent in 2023 to $560-570 million from the $615.5 million seen in 2022, as it pointed to continued economic uncertainty after posting an 18.0 percent decline in revenues in the fourth quarter of 2022. “With the outlook for the ...
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ArticleFox Factory posts record sales and profits in challenging fiscal 2022
On Feb. 23, suspension specialist Fox Factory Holding Corp. announced financial results for the fourth quarter and full fiscal year 2022. Thanks to continued strong sales in the second half of the year, marked by a general reluctance to buy due to inflation, the U.S. company once again posted record ...
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ArticleWolverine Worldwide forecasts significant increase in profits in H2
Wolverine Worldwide, having already taken numerous actions in Q4 that included staff cuts and the divestiture of its Keds business, is targeting flat to 2 percent sales growth in FY23 and a 210-basis point improvement in adjusted gross margin to approximately 42.0 percent as it continues to transform its business, ...
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ArticleGarmin's operating income drops in Q4, targets $5 billion for FY23
Positive currency effects of more than $44.5 million helped Garmin report a 2.5 percent increase in Q4 net income to $293.3 million from $286.1 million. Operating income decreased 15 percent to $267.2 million for the period ended Dec. 31, but gross margin improved to 57.0 percent from 55.5 percent. Total ...
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ArticleDirect, international drive Yeti in Q4
Yeti’s results were negatively impacted by voluntary recalls of certain soft coolers and dry gear bags for the period ended Dec. 31. Fourth quarter sales rose by 1 percent to $448.0 million from $443.1 million but were up 10 percent year-over-year to $486.4 million excluding impacts from the recalls. Direct-to-consumer ...
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ArticleBike24’s growth FY 2022 driven by expansion into new markets via localized e-stores
According to initial preliminary figures, German cycling, running and swimming online retailer Bike24 Holding AG has closed its fiscal year 2022 with a solid final quarter. In 10-12/2022, sales grew by 2.8 percent to €60 million. Considering that other suppliers in the sporting goods, outdoor and cycling world already began ...
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ArticleCanada Goose aims to have up to 150 stores and $3 billion in sales by 2028
After reporting slightly weaker third-quarter numbers earlier this month, Canada Goose, founded in 1957 in a small warehouse in Toronto, Canada, announced not only its five-year financial goals but also an update on its strategic priorities at its Investor Day on Feb. 7, 2023, at the company headquarters. “Today, Canada ...
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ArticleShimano with new sales and profit record for its bicycle division
Many companies – irrespective of the industry – lost ground, especially in the second half of 2022. Inflation triggered by the Ukraine war has led to a buying restraint on the part of consumers worldwide. Everyone is feeling the pinch. But there are a few exceptions: For Shimano, for example, ...
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ArticleBicycle market slowdown brings Mips’ otherwise good fiscal year 2022 results down
In the fourth quarter of the 2022 fiscal year alone, Swedish “Brain Protection System” innovator Mips AB had to digest a 46 percent sales drop compared to the last three months of the previous year, down to SEK 107 million (€9.60 million – adjusted for currency effects, minus 53 percent).
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ArticleThule Group decline in sales continues into Q4
Thule Group has reported a sharp decline in sales for the fourth quarter of 2022, as a slump in bike products begun in the third quarter continued. The Swedish company explains that retailers sought to reduce inventories in the product category in the second half of the year after “excessively ...
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ArticleRapala issues profit warning after poor weather hits winter sales
Fishing equipment maker Rapala has issued a profit warning after reporting a fall in 2022 earnings and sales due to poor winter weather in the northern hemisphere and high inventories.
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ArticleFenix Q4 profits squeezed as sales inch up 4%
Martin Nordin, chairman, describes Q4 as “another quarter of insecurity” for Fenix Outdoor.
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ArticleSSU hoping strategic realignment plan will return group to run rate profitability in FY24
Signa Sports United calls the current headwinds it’s facing transitory and believes they should begin to subside in the second half of FY23
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ArticleVF Corp plans to "sharpen its near-term focus" and more to improve performance
VF Corp., under interim president and CEO Benno Dorer, is vowing to take all necessary actions to improve its operating performance heading into its FY24 that commences on April 1. Already, the The North Face, Vans and Timberland parent has decided to slash its quarterly dividend by 41 percent to ...
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ArticleJohnson Outdoors sees improving supply availability in fishing
Johnson Outdoors has reported mixed first-quarter results, with improving sales trends in fishing and diving and declines in camping and watercraft, but higher-cost inventory continues to press on margins. The group, while uncertain how the spring season will evolve, intends to monitor demand and proactively manage inventory levels as the ...
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ArticleCanada Goose lowers outlook for FY23
Canada Goose, citing slowing momentum in the North American market and worse than anticipated pandemic-related disruptions in China, has dropped its annual revenue guidance by 2 to 8 percent to a range of C$1.175 to C$1.195 billion (€807m to €820m) from a prior outlook of C$1.2 to C$1.3 billion. The ...
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ArticleVista Outdoor net income dips 45% in Q3
Vista Outdoor, the group that owns 41 sporting and outdoor brands, saw its Q3 net income fall by 45 percent to $65.1 million from $118.1 million for the third quarter ending Dec. 25. Reported earnings before interest and taxes (EBIT) declined by 38.8 percent to $97.3 million. Earnings before interest, ...
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ArticleDometic Q4 organic sales slump 11%
Dometic reported sales in the fourth quarter of 2022 of 6,172 million Swedish kronor (€550.1m), up by 11 percent on the year earlier, as acquisitions and currency tailwinds more than offset an 11 percent contraction in organic sales. The decline in organic sales at the Swedish specialist in products for ...
