Sporting Goods Industry News for August 09, 2022
Net income improved 28% to ¥3,505 million ($27.0 mm) in the fiscal first quarter ended June 30, against ¥2,748 million last year, as revenues grew by 8% to ¥46,194 million ($356.2 mm) from ¥42,870 million led by strong hardgoods sales.
The bottom line swung to a $60,177,000 loss against last year’s net income of $13,884,000 on sales that cratered 70% to $54,817,000 from $184,593,000, in a return to pre-pandemic seasonality for the historically small quarter.
The bicycle maker reported a 2% decline in profits to TWD 1,803 million ($60.9 mm) from TWD 1,849 million in the second quarter, on 6% higher revenues of TWD 22,745 million ($768.4 mm) up from TWD 21,373 million.
A strong rebound in export markets drove a recovery at Yonex that saw net income more than triple to ¥3,025 million ($23.3 mm) from ¥947 million in fiscal Q1 ended June 30, as revenues jumped 46% to ¥23,694 million ($182.7 mm) from ¥16,178 million.
Net Income in the Japanese sporting goods company’s first fiscal quarter increased 24% to ¥322 million ($2.5 mm) from ¥259 million last year, as revenues increased 7% to ¥12,241 million ($94.4 mm) against ¥11,430 million.
After 23 years, long-time TAF franchise owner, Joe Delphry has sold his seven stores to the Dahir Group and its owner Shady Dahir.
The Bogs parent said that it was still in the process of broadening the rugged footwear brand’s product and market position, and will not release a full line until Fall 2023.