Annual Market Point: A Number Of Clothing And Sporting Goods Enterprises Report The Third Quarter Performance

Sports products

Nike, Inc. reports its first quarter results through August 31, 2020. Revenue was $10.594 billion, up from $10.66 billion in the same period last year. Net profit was $1.518 billion, up from $1.367 billion in the same period of last year. Online sales soared 82%, offsetting the decline in its wholesale business and Nike store revenue. In the first quarter, total revenue in Greater China increased by 6% to $1.78 billion, while that in Europe, the Middle East and Africa increased by 4.9% to $2.91 billion, while that of North America decreased by 1.6% to $4.225 billion.

Adidas reported an operating profit of 794m in the third quarter of 2020, compared with 897m in the same period in 2019. Revenue fell 7% to 5.964 billion euros (about $7.24 billion) from 6.41 billion euros in 2019. The company's net income from going concern was EUR 578 million, compared with EUR 644 million in 2019. In the third quarter, sales in Europe increased by 4%, sales in North America decreased by 1%, and sales in Greater China decreased by 5%. E-commerce sales soared 51%. Adidas's revenue in the first three quarters of 2020 was 14.297 billion euro, compared with 17.802 billion euro in the same period of 2019.

Foot locker, a North American sportswear retailer, reported revenue and profits in the third quarter of 2020 that exceeded market expectations. In the third quarter, the sales volume of Fulke increased by 9.0% year-on-year to $2.106 billion, with an unexpected positive growth rate of 7.7% compared with that of the same store. Net profit for the quarter was $265 million, up 112% from $125 million in the same period last year, although it included $190 million in non cash gains related to increased investment valuations.

Puma, a German sporting goods manufacturer, released its third quarter 2020 results, with sales up 13% to 1.58 billion euros (about $1.92 billion) and operating profit up 17% to 190 million euros. Puma's revenue in the Americas and Europe, the Middle East and Africa surged by 20.7% and 17.7%, respectively, thanks to the reopening of its stores, among which sales of basketball, racing, golf and team sports increased.

Under armour, a sports brand, announced results for the third quarter of 2020. Net revenue for the quarter was $1433 million, up from $1429 million a year earlier. The net profit was 38.95 million US dollars, up from 102 million US dollars in the same period of last year.

SKECHERS, an American sports and leisure brand, announced its performance in the third quarter of 2020. Quarterly sales were $1.3 billion, up from $1.354 billion a year earlier. The net profit was 64.3 million US dollars, up from 103 million US dollars in the same period of last year.

Lululemon, a Canadian Yoga sportswear brand, announced results for the third quarter of 2020 as of November 1. Sales volume was 1.117 billion US dollars, up 22% year-on-year, and the same period last year was US $916 million; net profit was US $144 million, a year-on-year increase of 14%. Sales of women's wear increased by 21.6% to US $791 million; sales of men's wear increased by 14.3% to US $239 million; sales of equipment and other categories increased by 52% to US $85.98 million.

ASICs reports January September 2020 results. Net sales for the period totaled 248.2 billion yen (about US $2.39 billion), down 13.3% from 286.2 billion yen in the same period of last year. The current operating profit was 3.279 billion yen, down 74.1% from 12.677 billion yen in the same period of last year. The net loss of the current period was 3.4 billion yen, and the net profit of the same period of last year was 6.928 billion yen.

Clothing and retail

Tjx, a discount retailer in the United States, announced its results in the third quarter of 2020. Net sales for the 13 weeks ended October 31 were $10.117 billion, up from $10.451 billion a year earlier. Net profit for the quarter was $867 million, up from $828 million a year earlier. Among them, marmaxx US $5.785 billion, homegoods US $1.876 billion, Tjx Canada $1.028 billion, Tjx international net sales $1.429 billion.

INDITEX group, the parent company of Spanish fast fashion giant Zara, announced its results in the third quarter of fiscal year 2020 (August October). Quarterly net sales amounted to EUR 6.052 billion (about US $7.35 billion), compared with EUR 7 billion in the same period of the previous year; EBITDA profit was EUR 1.848 billion, compared with EUR 2.255 billion in the same period of last year; and net profit was EUR 866 million, compared with EUR 1.171 billion in the same period of last year.

Swedish fashion retailer H & M made better than expected earnings in the third quarter ending August 31. Net profit in the third quarter fell to 1.82 billion kronor from 3.86 billion Swedish kronor in the same period of the previous year. Third quarter sales fell 19% to 50.87 billion kronor (about 6.03 billion US dollars).

UNIQLO's parent company, Fast Retailing Co., Ltd., announced its fiscal year results (September 2019 to August 2020). Revenue in the fiscal year was 2008.8 billion yen (about US $19.3 billion), down 12.3% from 2290.5 billion yen in the previous fiscal year. The operating profit in the fiscal year was 1493 billion yen, down 42% from 257.6 billion yen in the previous fiscal year. The net profit of the fiscal year was 90.4 billion yen, down 44.4% from 162.6 billion yen in the previous fiscal year. Among them, UNIQLO Japan's revenue is 806.9 billion yen, UNIQLO's international revenue is 843.9 billion yen, and Gu's revenue is 246 billion yen. The revenue of Greater China is 456 billion yen.

Gap Inc. announced financial results for the third quarter of fiscal year 2020 as of October 31. Net quarterly sales of $3.994 billion were flat on a year earlier, while comparable sales increased by 5%, driven by 61% growth in online sales. Net profit for the quarter was $95 million, up from $140 million a year earlier.

Victoria's Secret parent company, l brands, released its third quarter 2020 results as of October 31. The total sales volume reached 3.055 billion US dollars, a year-on-year increase of 14%; the net profit was 331 million US dollars, with a net loss of 252 million US dollars in the same period of last year. Sales at Bath & Body Works rose 54.9% year-on-year to $1.702 billion in the third quarter. Vimy's sales fell 14.2% year-on-year to $1353 million.

VF Corporation, the parent company of apparel brand "North", announced its second quarter results for the fiscal year ended September 26, 2020. Net revenue for the quarter was $2.608 billion, up from $3.18 billion a year earlier. Net profit was $257 million, up from $649 million a year earlier. Net sales in the outdoor sector fell 24% to $1154 million, while net sales in the sports sector fell 15% to $1.2 billion.

Hanesbrands Inc., a clothing maker, announced its third quarter results for 2020. Net revenue for the quarter was $1.808 billion, up from $1.867 billion a year earlier. Net profit was $103 million, up from $185 million in the same period last year.

Levi Strauss & Co., the parent company of Levi Strauss, announced results for the third quarter ended August 23, 2020. Net revenue for the quarter was $1063 million, up from $1447 million a year earlier. Net profit for the quarter was $27.05 million, up from $125 million a year earlier. Among them, the revenue in America decreased by 29%, that in Europe by 16% and that in Asia by 42%.

AEO (American Eagle Outfitters) announced its third quarter results in 2020. Total net revenue for the 13 weeks ended October 31 was $1.032 billion, up from $1.066 billion a year earlier. The net profit for the quarter was 58.11 million US dollars, compared with 80.76 million US dollars in the same period of last year.

Kontoor brands, Inc., the parent company of Lee and Wrangler, announced results for the third quarter of 2020. Net revenue for the quarter was $583 million, up from $638 million a year earlier. The net profit was 60.79 million US dollars, which was 14.5 million US dollars in the same period of last year.

Guess, the US apparel group, announced its third quarter results in 2020. Net revenue for the quarter was $569 million, up from $616 million a year earlier. Net profit was 26.38 million US dollars, compared with 12.42 million US dollars in the same period of last year.

SEMAR clothing released the third quarter performance of 2020. In the first three quarters, the revenue was about 9.450 billion yuan, a year-on-year decrease of 28.74%; the net profit was about 216 million yuan, with a year-on-year decrease of 83.48%. In the third quarter, the operating revenue was 3.716 billion yuan (about 568 million US dollars), a decrease of 26.30% compared with the same period of last year; the net profit attributable to shareholders of listed companies was 194 million yuan, a decrease of 66.79% compared with the same period of last year.

Hailan House released financial report for the third quarter of fiscal year 2020. The company's operating revenue in the first three quarters of 2020 is 11.7 billion yuan, and the net profit attributable to shareholders of listed companies is 1.29 billion yuan. Among them, the operating income of Hailan home in the third quarter was 3.7 billion yuan (about 566 million US dollars), and the net profit attributable to shareholders of listed companies reached 370 million yuan.