Home / Knowledge / News / Apparel/Garments / Bauer Performance Sports Q1 FY'14 sales rise 4%
Bauer Performance Sports Q1 FY'14 sales rise 4%
07
Oct '13
Bauer Performance Sports Ltd. announced its interim financial results for the first quarter of fiscal 2014 ended August 31, 2013.

Bauer's overall revenues increased by 4% in the first quarter of fiscal 2014. This increase was fueled primarily by strong performance in apparel, lacrosse, and roller hockey as well as several ice hockey equipment categories.

Apparel revenues increased by 57% driven by strong growth in off-ice team apparel, base layer performance apparel, lifestyle apparel, and the addition of hockey and soccer uniform sales. Lacrosse sales increased 43% driven by strong demand for the new CASCADE "R" helmet, growth in our MAVERIK equipment line, and an additional month of Cascade sales compared to the first quarter of fiscal 2013.

Roller hockey sales grew 47% driven by strong skate sales. Ice hockey equipment sales grew in key categories such as sticks, protective equipment, and replacement steel blades; however, this was offset by the fact that the prior year included the initial launch of BAUER's third family of ice hockey equipment, NEXUS, resulting in a 2% decline in ice hockey equipment sales versus the prior year. High levels of retail inventory in the hockey marketplace also contributed to the lower ice hockey equipment revenues in the quarter.

Overall revenues from the North American market grew by 3% in the first quarter of fiscal 2014, while sales outside North America grew by 7%.

In addition to Bauer's strong first quarter results, the Company also announced that it has obtained $70.1 million of booking orders for its 2013 "Holiday" season (October 2013 - March 2014), an increase of 9% on a currency neutral basis (7% including the impact of foreign currency) over the 2012 "Holiday" season, reflecting the continuing enthusiasm for BAUER's innovative products.

"Our diversified platform, and our dedication to delivering innovative, high quality, performance enhancing products continues to drive growth," said Kevin Davis, President and Chief Executive Officer of Bauer. "Customer demand for our products remains very strong, and we continue to take share in this challenging marketplace. We are extremely pleased with the increase in booking orders and expect that 2014 will be another record year for our top and bottom line performance as the headwinds which have been impacting our revenues are beginning to dissipate."

Adjusted Gross Profit in the first quarter of fiscal 2014 increased slightly to $61.5 million. Adjusted Gross Profit as a percentage of revenues decreased to 39.9%, compared to 41.1% in the comparative period of fiscal 2013, primarily due to growth in uniforms which have lower gross profit margins compared to our other equipment and apparel categories.

Excluding the impact of one-time acquisition related charges and share-based compensation expense, SG&A as a percentage of revenues increased to 15.1% from 14.2% in the comparative quarter last year. This increase was driven primarily by the effect of adding the SG&A from recently acquired companies in a seasonally low revenue quarter for these same companies.

Must ReadView All

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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