Latest Financial News – Page 15
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Article2022 bicycle stock chart development proves you can always do worse
Five are up, the majority are down. Compare your brand’s performance with our analysis of the 2022 bicycle stock market.
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ArticleHelen of Troy making three organizational changes
Helen of Troy, the parent of Osprey and Hydro Flask, is undergoing three organizational changes and shrinking its global workforce by about 10 percent, with most staff reductions completed before March 1. Most notably, the group has decided to merge its Health & Wellness and Beauty segments, centralize its global ...
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ArticleJohnson Outdoors starting to see some supply chain relief
Johnson Outdoors, which began to experience some easing of supply chain availability in its fishing business in the fourth quarter, reported a 39 percent increase in net income to $9.7 million from $6.9 million for the period ended Sept. 30. Operating profit, however, slipped 2.0 percent to $13.3 million from ...
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ArticleRose Bikes continues double-digit growth in 2021/22
DTC provider Rose Bikes GmbH achieved total sales of €174 million in its 2021/22 fiscal year ending Oct. 31. Compared to the previous year, this is an increase of 17 percent. What the Bocholt-based company is particularly proud of is that, despite bottlenecks in the supply chain, sales of complete ...
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ArticleVF seeks new permanent CEO following Rendle’s decision to step down
Source: VF Corp. Benno Dorer, interim president and CEO of VF, effective immediately VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board ...
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ArticleSchwan-Stabilo’s outdoor brands grow by 16.4%
The German Schwan-Stabilo group, the owner of Deuter, Ortovox, Maier Sports and Gonso, has published its 2021/22 business numbers, achieving growth in all of the group’s categories, which are cosmetics, writing instruments and outdoor sports. In the time span reported, the group generated sales of €745.3 million (previous year: €623.2 ...
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ArticleWeyco expects declining sales after record Q3
Weyco Group generated record sales in the third quarter of 2022, with revenues jumping by 56 percent compared to the year earlier to $97.0 million. Growth was led by its North America wholesale business and underpinned by strong consumer demand, higher selling prices and the “abnormally low” revenues seen in ...
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ArticleMerida’s value sales continue to grow at double-digit rate in 2022
After Taiwan’s leading bicycle manufacturer Giant Manufacturing Company Ltd. reported double-digit sales growth of 14.4 percent (compared to the same period in 2021) in the first three sales quarters of 2022, Merida Ind. Co. Ltd., also listed on the stock exchange and the second largest bicycle manufacturer in the ...
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ArticleYeti beats expectations in Q3 as international sales jump 60%
Yeti beat market expectations for sales and earnings in the third quarter, as international revenues jumped by 60 percent, and the company said it was “well-positioned” for the holiday season in the fourth quarter. In the third quarter, sales for the premium drinkware and cooler brand increased by 20 percent ...
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ArticleBike24's impressive sales growth in new markets cushions rising costs
Despite all the current macroeconomic challenges, Bike24 Holding AG, the online retailer of bicycles, running and swimming sports, achieved total sales of €72.62 million in the third quarter of fiscal year 2022. Compared to Q3 2021, this is an increase of 12.9 percent. However, both gross profit (€18m, down 8.3 ...
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ArticleSolo Brands lowers revenue forecasts in response to “unpredictable demand”
Solo Brands has lowered its full-year revenue guidance in response to increasingly unpredictable consumer demand amid a tougher economic outlook going into the holiday season. The owner of four lifestyle brands has managed to narrow losses in the third quarter as it reported a 47 percent increase in sales to ...
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ArticleWolverine lowers FY forecast again, unveils brand reorganization
Wolverine World Wide Inc. again lowered its full-year outlook after continuing supply chain constraints, increased promotional activity and deteriorating economic conditions weighed on third-quarter results, which came in below expectations. The company also announced a long-awaited reorganization of its brands to help cut costs and expand margins. Full-year revenue is ...
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ArticleClarus misses sales, earnings targets on currency effects, freight costs
Clarus Corp. reported an operating income of $6.1 million against a loss of $282,000 in the third quarter despite missing revenue and earnings per share projections. In reporting a 39 percent decline in net profit to $2.75 million from $4.53 million, the group said higher freight costs lowered its profitability ...
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ArticleRVRC experiences improving trends in September
RevolutionRace (RVRC), the Swedish outdoor DTC company, which installed Paul Fischbein as its permanent CEO Oct. 7 following the mid-August resignation of founder and former CEO Pernilla Nyrensten, reported a 31 percent drop in first quarter operating income to 49.8 million Swedish kronor (€4.7m) from SEK 72.7 million. Net profit ...
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ArticleCompass Diversified with record quarter
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) fell 25 percent to $15.3 million from $20.3 million for the period ended Sept. 30. Total sales from the five companies rose 16 ...
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ArticleFenix sees 13% sales gain in Q3 as Hanwag capitalizes on moving production to Europe
Fenix Outdoor International reported sales of €224.2 million in the third quarter of 2022, up by 13 percent on the year earlier, when its results were less affected by the Covid-19 pandemic than in the first two quarters of 2021. The star performer in the quarter was the footwear brand ...
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ArticleGiant Group celebrates 50th anniversary, boasts solid results
For Taiwan’s leading bicycle manufacturing companies Giant Manufacturing Company Ltd (Giant Global Group) and Merida Industry Co Ltd, 2022 is very special: both companies are celebrating their 50th anniversaries. On Oct. 27 – one week before the announcement of financial results for the first three sales quarters of 2022 – ...
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ArticleCanada Goose lowers outlook due to China problems
Persistent lower traffic trends and dampened consumer sentiment in China have forced Canada Goose to lower its FY revenue and profit outlook despite strong brand sales performance in other global geographies. The group has dropped its annual revenue outlook by more than 7 percent to a range of C$1.2-1.3 billion ...
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ArticleVista Outdoor shares take hit after guidance lowered
Jason Vanderbrink, president of Vista Outdoor’s sporting products division, told analysts, “We are bullish on the outdoor industry despite near-term macroeconomic conditions that have eroded consumer confidence and pressured performance across the (U.S.) economy. We always understood that the elevated purchase patterns of the last two-and-a-half years would normalize.” ...
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ArticleRocky Brands lowers FY revenue outlook
Despite reporting steady or strong sales from its portfolio of footwear brands during the third quarter, Rocky Brands has lowered its FY revenue outlook due to a difficult, year-over-year sales comparison in the fourth quarter. Through nine months, the parent of the Durango and Georgia brands, among others, had a ...
