May 12, 2022
Profits attributable to shareholders grew by 4% to $88,576,000 in the first quarter from $85,379,000 last year on sales that declined 4% to $2,394,369,000 from $2,493,272,000 due to weakness from the Pou Sheng Chinese retail business, which operates stores for Nike, Adidas, Skechers, Puma and other brands in the PRC.
Net income attributable to shareholders slipped 11% to ¥1,619 million ($13.9 mm) in the final fiscal quarter ended Mar. 31 from ¥1,811 million prior, as revenues grew by 10% to ¥47,893 million ($412.2 mm) from ¥43,684 million.
Net loss attributable to Solo Brands Inc. was $2,035,000 against last year’s income of $22,234,000 due to acquisition and go-public costs, as sales that were up 19% to $82,203,000 from $69,071,000.
SportChek and Canadian Tire’s other sports banners saw revenues grow 3% in the first quarter to C$408.8 million ($322.9 mm) from C$396.7 million, with a +10.2% comp more than offsetting 22 fewer doors open than a year ago.
The U.K.-based retailer and parent of U.S. banners Finish Line, DTLR Villa and Shoe Palace raised its EBIT guidance for the fiscal year ended Jan. 29, 2022 to £940 million, from £900 million guided earlier.
Net income more than doubled at the South African protective sports equipment maker, hitting $4,222,755, up from $2,060,838, as revenues grew 88% to $24,228,108 from $12,896,475 in the first quarter.
Gregory backpack and hydration gear sales slipped 4% in the first quarter to $15.1 million from $15.8 million last year, becoming the only Samsonite brand that saw a decline against the prior year.
Chicago-based golf club maker, Stix Golf has closed a $10 Million Series A Funding round, led by Verance Capital, 2.0 Ventures and Spacestation Investments.