July 27, 2022
Puma, bolstered by its strong first half sales despite persistent global headwinds, has increased its financial year 2022 revenue forecast to mid-teens currency-adjusted growth from a prior outlook of at least 10% sales expansion.
Net income fell 82% in the seasonally small second quarter to $7,163,000 from $40,684,000 last year, on 2% higher revenues of $578,063,000 against $566,370,000, that were up 4% constant currency.
Net income grew 260% to €211,254,000 ($225.0 mm) in the first half against €58,724,000 on revenues that were up 48% (+46% CC) to €918,374,000 ($978.1 mm) from €621,768,000.
GRMN’s fitness sales fell 34% to $272,095,000 from $413,201,000 with drops in all categories led by advanced wearables and cycling products as demand normalizes compared to pandemic spikes.
VSTO inked a definitive agreement to acquire Simms Fishing Products for $192.5 million, a deal that is expected to close in the second quarter of 2023.
VF Corp., and Vans have asked a CA federal court to hold the retailer in contempt for failing to comply with the permanent injunction that enjoined WMT from selling certain shoes that violate the skate brand’s trademark and dress.