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

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Asim Dalal
Indo Count Retail Ventures

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search