March 16, 2022
Net income attributable to shareholders soared 77% to RMB 908.3 million ($140.8 mm) in 2021 from RMB 513.0 million, on 23% higher revenues of RMB 10,013.2 million ($1,552.7 mm) from RMB 8,171.9 million at the Chinese sportswear brand.
Net income posted a 177% gain to $23,828,000 over $7,443,000 on net sales that improved 23% to $313,371,000 from $253,897,000, including a +17.7% blended comp, with stores comping up 22.1% and e-commerce coming in flat.
Gregory Mountain Products’ sales increased 16% to $59.4 million last year from $51.2 million, contributing to Samsonite’s recovery as vaccination rates rise and travel restrictions are lifted.
Responding to a U.S. Customs and Border Protection accusation that it uses North Korean labor in its supply chain, the Chinese sportswear brand averred in a statement that its suppliers are strictly prohibited from using any form of forced labor.
Canada’s Hudson’s Bay department store is preparing a bid for the retailer that could value it above $9 billion, while PE firm Sycamore Partners is considering upping its earlier, reported $65 a share offer, according to the Wall Street Journal.
Adjusted sales for sporting goods/hobby/book and music stores increased 12% in Feb. to $8,970 million from $8,030 million, according to Commerce Dept. data, and inched up 2% sequentially.
Specialized is extending and expanding its 2020 recall of 2019 and 2020 model year Sirrus, Sirrus X and Sirrus Sport bicycles to include Sirrus X 3.0 and 4.0 bicycles from model year 2021 and 2022.