Daily News Feed 03/18/2024 Xtep Topped $2 Billion in Revenue Last Year
Profits attributable to shareholders grew by 12% in 2023 to RMB 1,030,009,000 ($145.4 mm) from RMB 921,694,000, as the Chinese sportswear company’s revenues increased 11% to RMB 14,345,508,000 ($2,025.1 mm) from RMB 12,930,385,000. Vista Outdoor Says EBITDA will Improve Quickly after Ammo Biz Sale
The path is clear for first-year EBITDA doubling and a long term mid-teens EBITDA with no need for top line growth in the post-ammo shedding Revelyst, VSTO officials told the Roth investor conference as they updated progress on the “GEAR Up” transformation program. Johnson Health Tech Profits Jump in 2023
The Taiwanese exercise equipment maker is currently the stalking horse bidder for Bowflex, aiming to add the bankrupt company’s brand and assets to its portfolio that includes Matrix, Vision, and Horizon Fitness. Sacks Parente Golf Posts Record Sales
Net loss at the high-end putter and golf accessories startup widened to $4,625,000 for the full year ended Dec. 31, from a loss of $3,505,000 prior, as operating expenses dinged the bottom line.
03/15/2024 Hibbett Guides for Flattish 2024, Will Add 45-50 New Stores
The small market operator recorded 20% lower net income of $30,884,000 in the fourth quarter, down from $38,424,000, as revenues inched up 2% to $466,589,000 from $458,295,000 while comps slipped 6.4%, lapping last year’s mid-teens surge. L.L. Bean Sales Declined to $1.7 Billion in 2023
The 112-year-old, Maine-based retailer reported revenues declined roughly 5% to $1.7 billion last year, down from a nearly $1.8 billion top line in 2022. Tecnica Group Posts Solid Results
The Italian owner of the Tecnica, Nordica, Blizzard, Lowa, Moon Boot and Rollerblade brands reported sales declined 4% to €540 million ($583.8 mm) last year from €561 million, but still maintained its growth trajectory initiated in 2020, which saw double-digit-expansion in 2021 and 2022. Ouraring Files ITC Complaint against Competitors
The Finnish health technology company filed a complaint with the International Trade Commission seeking to block certain smart wearable devices, systems, and components from being imported into the U.S. Etcetera: New Balance, Caleres, 1791 Outdoor, Under Armour
03/14/2024 Dick’s Plans Aggressive Store Growth after Record 2023
Fourth quarter results benefitted from an extra week, but sales and profits both handily exceeded expectations, including an 8% jump in revenues to $3,876,171,000 from $3,596,713,000 and net income that was 26% higher at $296,433,000 from $235,621,000. Zumiez Guides for Sharp Decline in Q1
A difficult year for ZUMZ ended on a brighter note, as revenues ticked higher, increasing 1% to $281,822,000 from $280,110,000, but a $41.1 million goodwill impairment charges turned what would have been a nice profit into a $33,487,000 loss, compared to net income of $11,432,000 in Q4 ’22. Tilly’s Red Ink Deepens for Q4 and Full Year
Net loss ballooned to $20,552,000 in the fourth quarter from a loss of $104,000 on sales that were down 4% to $173,020,000 from $180,350,000 attributed to lower traffic, with similar results across categories. Solo Brands Sees Red from Huge Impairment
Impairment charges of $249.0 million sent the bottom line to a $210,862,000 loss against last year’s $19,508,000 profit for the fourth quarter as sales dipped 16% to $165,318,000 over $197,243,000. Sporting Goods Sales Drop Slightly in February
Adjusted sales of sporting goods/hobby/book and music stores ticked down 3% last month to $8,461 million from $8,724 million, according to Commerce Dept. data, and were flat sequentially from Jan. Fleet Feet Shuffles Store Support Team
The running specialty operator is bolstering its store support team with several new hires and promotions. Outdoor Voices Reportedly Closing All Stores
The athletic and recreational apparel brand is shuttering all 16 of its brick-and-mortar stores by the end of this week and will transition to an online-only business, the New York Times reported. Etcetera: Franklin Sports, Rip Curl
|