Sporting Goods Industry News for May 10, 2024
Net income jumped 64% in the first quarter to ¥26,737 million ($180.3 mm) against ¥16,310 million, on 14% higher revenues of ¥174,102 million ($1,173.7 mm) up from ¥152,297 million, helped by sales in overseas markets as the yen weakened.
Net income from continuing operations was back to a positive BRL 32.7 million ($6.6 mm) after last year’s BRL 169.2 million loss related to a missed payment on the 2019 sale of Argentinean sportswear brand Topper, while net sales were up 3% to BRL 931.8 million ($188.1 mm) from BRL 902.5 million.
YY’s manufacturing segment revenue inched down 2% in Apr. to an implied $425,628,000 from $417,863,000 last year, while total revenues were 5% lower at the Chinese footwear maker and retailer at $650,212,000 for the month.
Superspeed Golf filed suit in IL district court accusing The Stack System of false advertising by claiming its golf swing training products are superior to others on the market.
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