Sporting Goods Industry News for May 16, 2022
GoPro said that rising ASPs and subscription numbers will more than offset a decline in unit sales ahead of new product launches in Q4, in a presentation at the Needham Technology & Media Conference.
Net income more than doubled to ¥3,561 million ($30.6 mm) in the fiscal fourth quarter ended Mar. 31 from ¥1,498 million last year, on 15% higher revenues of ¥24,453 million ($210.4 mm), up from ¥21,253 million.
Profits slipped 14% in fiscal Q4 ended Mar. 31 to ¥700 million ($6.0 mm) from ¥812 million on 29% higher sales of ¥20,509 million ($176.5 mm) up from ¥15,839 million to finish a year in which the racquet sports brand bounced back from the pandemic.
Net income bounced back in the fiscal year ended Mar. 31 to ¥3,836 million ($34.9 mm) from just ¥412 million the year before, as sales grew 10% to ¥223,282 million ($2,033.5 mm) from ¥202,438 million.
The connected sports technology company that started by making tennis ball launchers, has now changed its name to reflect its recent acquisitions and expanded business model.
Authentic Brands Group tapped Itochu Corp., one of Japan’s largest trading companies, to distribute, market and license the Reebok brand in Japan, targeting annual sales of 20 billion yen ($155 mm) within the next five years.
Peloton and iFit reached a settlement in their ongoing legal battle over PTON’s leaderboard and several other patents, agreeing to drop all pending litigation.