SGB Executive

Descente Ltd reported that revenues for the 2022 full fiscal year ended March 31, 2023 rose 10.8 percent to ¥120.61 billion ($922.3 million), exceeding the company’s November forecast. Net profit was a record high, growing 69.4 percent year-over-year.

On Holdings raised its revenue outlook for 2023 after delivering a better-than-expected first quarter. The Americas led the regional growth, surging 91.9 percent to CHF 270.2 million ($301 mm), boosted by a strong reception for the brand at Dick’s Sporting Goods, On officials said on an analyst call.

Wilson Sporting Goods in early May opened its first-ever West Coast retail location in Santa Monica, CA, bringing its total store count to six. Gordon Devin, president and general manager, Wilson Sportswear, talked with SGB Executive about Wilson’s aggressive retail push, its expanding apparel business and current business conditions.

Fila Holdings weathered a tough first quarter in the market for the Fila brand, managing a 3.3 percent increase in total sales year-over-year. Assessing the business without the benefit of FX Rate fluctuations was not so rosy as sales fell 6.2 percent for the quarter in currency-neutral terms

Giant Group, based in Taiwan, has pulled out of its planned $20 million investment in Portland, OR-based Stages Cycling due to an inability to “reach mutual consensus on the terms and conditions of definitive agreements.”

Mizuno Corp. reported record earnings for the year as revenues jumped 23 percent. The revenue gains were mainly driven by golf in overseas markets and baseball, football and work business in its domestic Japanese market. For the fourth quarter, earnings rose 31 percent on a 35 percent revenue gain.

In March, Topo Designs received a significant equity investment from Gart Capital Partners to mark the first time that the Denver-based outdoor brand had taken on outside funding since being founded in 2008. SGB Executive talked with Jedd Rose, Topo Designs’ president, about the brand’s The New Outdoor platform and how the fresh funding will help capitalize on Topo Designs’ recent momentum.

Samsonite International S.A., parent company of the Gregory, High Sierra and Tumi reported that net sales increased by $278.5 million, or 48.5 percent (+55.3 percent constant-currency), during the three months ended March 31.

Yeti Holdings, Inc. managed to deliver 3.1 percent growth in first quarter that beat expectations despite the period being negatively impacted by a massive voluntary recall and the expected slow pace of orders in the North American wholesale channels.

Nation’s Best Sports, the nation’s oldest and largest sporting goods buying group, will be joining the Snowsports Merchandising Corporation and Sports Specialists Ltd. buying groups for the 2024 Winter Sports Market.

Pou Sheng International (Holdings) Limited, the China retail subsidiary of Yue Yuen Industrial (Holdings) Limited, reported net consolidated operating revenue of the company for April increased 53.4 percent to RMB 1.85 billion.

Wolverine World Wide, Inc. reported first-quarter earnings that slightly exceeded expectations on strength at Merrell and Saucony while announcing that it was exploring the sale of its struggling Sperry business and revealing that Anne Cavassa, president of Saucony, had left the company.

Yue Yuen recorded revenue of $2.11 billion in Q1, representing a decline of 12.0 percent in US Dollar terms. The volume of shoes shipped in Q1 decreased 24.0 percent to 53.9 million pairs due to soft global demand and a tough year-ago comps.

Giant Group reported that consolidated revenue for the first quarter was NT$20.12 billion, a decline of 9.6 percent year-over-year. The decline was attributed to the impact from European and North American markets reducing inventories plus higher comps with last year.

Asics Corporation reported that net sales jumped 44.6 percent year-over-year to ¥152.2 billion in the first quarter ended March 31, and increased 35.0 percent year-over-year excluding foreign exchange effects. Profit attributable to owners of parent company increased 86.9 percent to ¥16,310 million.