Amid rumors that Cabela’s (CAB) is on the verge of being acquired by Bass Pro Shops, the Sidney, Nebraska-based outdoor sports retailer on Thursday reported that profits declined 5.7% to $37.8 million and diluted earnings per share were $0.55 in the second quarter of fiscal 2016. Total revenue climbed 11.2% to $929.9 million, thanks to both a 13.3% increase in retail store sales and a 3.3% bump in non-store sales, while revenue from the retailer’s credit card business jumped 8.1%. Cabela’s stock is up 12.69% year-to-date.
German sporting goods group Adidas raised its 2016 outlook for the fourth time this year Thursday, after reporting a 13 percent increase in revenues in Q2 to 4.4 billion euros ($4.9 billion) as well as a massive 77 percent leap in operating profit to 414 million euros ($459 million). To that end, Adidas now expects currency-neutral sales to increase at a rate in the high teens in 2016 (previous guidance pegged it at 15 percent) and projects net income from continuing operations to be between 975 million euros ($1.08 billion) and 1 billion euros ($1.1 billion).
So far, so good for French retailer Carrefour in 2016, which opened 410 new stores in the first half of the year and—excluding currency shifts—achieved a 2.2% increase in net sales to reach 40.55 billion euros ($44.96 billion). Despite unfavorable weather conditions, operating margin was up 1.8% in France, while other European countries recorded an increase of 30 basis points. One emerging market was particularly strong: like-for-like sales in Latin America grew 14.5%.
High-end coat brand Moncler, which is slated to open a new flagship store in New York before the end of the year, said Wednesday that revenues rose 17 percent in the first half of 2016 to 346.5 million euros ($384.2 million), citing strong growth in all regions and distribution channels. However, profits decreased from 34 million euros ($37.7 million) in the year-ago period to 33.6 million euros ($37.2 million) this year.
Synthetic recycled yarn producer Unifi (UFI) suffered a sales decline in its fourth quarter, down from $175 million last year to $163.9 million, and blamed the devaluation of the Brazilian real and lower selling prices. As such, net income was $10.2 million, compared to $15.6 million in the fourth quarter of fiscal 2015. Shares are down 2.74% year-to-date.
Sluggish store traffic trends and continued weakness in the department store and national chains channels impacted Gildan Activewear (GIL) in the second quarter. Net sales decreased 3.5%, from $714.2 million to $688.9 million, as branded apparel sales tumbled 7.9% and printwear fell 1.4%. Net earnings dropped 4.7%, from $99.4 million, or $0.41 per share, to $94.7 million, or $0.40 per share.
Bonmarché, a U.K. women’s value retailer, blamed poor weather for a 3.6% decline in sales in the first quarter of fiscal 2017. Like-for-like sales dropped 7.7%, with stores suffering an 8.1% decrease and e-commerce down 2.7%. Nonetheless, the retailer left its full-year guidance unchanged.
Puma said Wednesday that products and marketing around Rihanna and Kylie Jenner are driving results for the German activewear brand. Sales improved 7 percent to 827 million euros ($916.89 million) in the second quarter, with all segments contributing to the growth. Apparel was the best of the bunch, with sales up 13.6% to 299.1 million euros ($331.6 million), followed by a 10.9% increase in accessories. But a strong U.S. dollar bruised gross profit margin, which declined 45.6%.