Home / Knowledge / News / Apparel/Garments / Sportswear sales up at HEAD & HTM Sport
Sportswear sales up at HEAD & HTM Sport
13
Aug '12
HEAD NV and HTM Sport GmbH announce the unaudited results for the three and six months ended 30th June 2012. Sales for the first six months of 2012 were up 12.1% compared to the first six months of the prior year driven by Racquet Sports, especially in North America, and compounded by favorable exchange rate movements and positive results from the other divisions. At constant currency the sales for the first six months of 2012 were up 8.9% compared to the first six months of 2011.

Winter Sports sales for the first six months where ahead of the comparable period in 2011 by 2.6%. This, however, is not a key delivery period for the division and consists mainly of close out sales and some deliveries of bindings under contract manufacturing agreements for the next season.

Due to the very mild winter and late snow in both Europe and North America in 2011/12, sell out at retail was considerably down and some International retail chains are therefore reducing pre-season orders by 20% to 25%. The company has now collected a majority of pre-season orders and whilst declines are not as dramatic, company still has a double-digit deterioration compared to the prior year, with skis and snowboards having suffered more than boots.

The racquet sports market started the year positively in North America where company  had record sales, but the worldwide growth company achieved in the first quarter of 21.3% slowed in the second to 9.9% as poor weather and lower consumer demand dampened racquet sales in Europe. The overall growth for the first six months of the year of 15.7% compared to the prior year has been achieved through higher volumes and favourable product mix in both racquets and balls, supported by positive exchange rate movements. A number of new products were introduced in the first quarter of the year, and company would not expect the current growth to continue throughout the year.

The diving sales for the first six months of 2012 grew by 6.7% due to market growth in North America and Asia and strong product lines in computers and regulators.

Sportswear sales for the six months improved by €1.0m, or 42.4% due to higher sales of Summer Sportswear.

Gross margins for the six months to 30th June 2012 have declined from 41.0% to 39.9% due to higher cost of sales driven in part by lower utilization of Alpine production facilities, increased labour rates and further investment in sportswear division. Adjusted operating loss for the six months to 30th June 2012 increased by €0.3m.

The increase in the loss was due to the higher sales being more than offset by lower gross margins and higher selling and marketing costs. The buy back and redemption of the Senior Secured Notes in 2011 has substantially decreased interest and other financial expenses due to the lower interest rates achieved. For the six months to 30th June 2012 interest and other financial costs decreased by €1.8m.

The non-cash disagio costs incurred in 2011 were due to the buy back of the Senior Secured Notes in March of that year which led to the acceleration of the amortization of the non-cash Disagio costs.


Must ReadView All

Apparel/Garments | On 22nd Sep 2017

Govt announces new duty drawback rates for garments

The Government of India has today announced the new duty drawback...

Courtesy: ITMA

Textiles | On 22nd Sep 2017

ITMA 2019 to focus on smart garment technologies

ITMA 2019, the world's largest textile and garment technology...

Apparel/Garments | On 22nd Sep 2017

New US FTC rule for RN used on textile product labels

The US Federal Trade Commission recently streamlined requirements...

Interviews View All

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search