October 23, 2020
Double-digit gains in Europe and Asia powered global sporting goods retail sales that grew 7% last year in local currencies and 4% in dollars to $106,214 million from $101,885 million, improving slightly on the 5% expansion in 2018.
Net income soared 148% in the third quarter to SEK 449 million ($50.6 mm) from SEK 181 million on 45% higher revenues of SEK 2,436 million ($274.7 million) against SEK 1,682 million that were up 52% constant currency.
Shoe retailers received some good news from the FDRA’s Holiday survey, which found that 66% of respondents were very or somewhat likely to buy new shoes for gifts or for themselves this season.
China Dongxiang’s Kappa sales were up mid-single digits in the Sep. quarter driven by mid-to-low thirties growth in e-commerce while brick-and-mortar sales were flat.