Outdoor financials: Jack Wolfskin posts 21 percent increase in FY sales, plus Hibbett Sports, Wolverine

Jack Wolfskin posts 21 percent increase in FY sales, Hibbett cuts Q4 guidance on lower sales expectations and Wolverine increases quarterly dividend.
Author:
Publish date:

Jack Wolfskin posts 21 percent increase in FY sales

German apparel-maker Jack Wolfskin said its sales increased by 21 percent in 2010 by building its market position in all countries and selling more jackets and hiking boots to consumers.

Revenue rose to EUR 304 million (USD $415 million) in the year ended Sept. 30 from EUR 251 million (USD $342 million) a year earlier.

No profit figures were reported.

The company said it anticipates “significant double-digit growth” this year, and maintaining growth at the same level as fiscal 2010.

News agencies, including Bloomberg, have reported that Jack Wolfskin may be sold by owners Quadriga Capital and the private-equity arm of Barclays Plc.

Stores will be added in Asia, the U.K., France and other countries this year to spur growth, the company added.

Hibbett cuts Q4 guidance on lower sales expectations

With lower-than-expected, same-store sales on the horizon, Hibbett Sports (Nasdaq: HIBB) said in a preliminary report it is cuttings its fourth-quarter earnings guidance.

Rrevenue figures at stores open at least a year rose 1.3 percent during the final three months of the year.

“After a strong start to the quarter, we were disappointed with comparable store sales in the latter half of January,” Jeff Rosenthal, president and CEO, said in a statement. “Factors affecting our sales performance include a delay in income tax rapid refunds and inclement weather issues throughout many of our markets.”

He added, “Overall, fiscal 2011 is on track to be a record year for earnings per share and we exceeded our new store growth expectations.”

The company backed off earlier predictions of earnings between $0.47 and $0.50 per share, saying it now expects $0.42 to $0.44 per share.

The change to the fourth-quarter outlook means Hibbett's full-year earnings are now likely to come in between approximately $1.58 and $1.60 per share. Its prior forecast was in a range of $1.63 to $1.66 per share.

For the full year, Hibbett reported revenue climbed 12.1 percent to $665.3 million. Revenue at stores open at least a year increased 9.8 percent.

The company will report its fourth-quarter and fiscal 2011 results on March 11.

Wolverine increases quarterly dividend

Directors of Wolverine World Wide (NYSE: WWW), parent of Merrell and Chaco, declared a quarterly cash dividend increase of $0.12 per share of common stock. It represents a 9.1 percent increase over the previous quarterly dividend.

The dividend is payable on May 2, 2011, to stockholders of record on April 1, 2011, and reflects an indicated annual dividend of $0.48 per share.

--Compiled by Wendy Geister

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related