Nike announced its first-quarter results for fiscal year 2023. Quarterly revenue was $12.7 billion, up 4% year-on-year; net profit was $1.5 billion, down 22% year-on-year. Nike's Greater China revenue fell 16%, but this was offset by growth in the Asia-Pacific and Latin America (up 5%), North America (up 13%), and Europe, Middle East, and Africa (up 1%). Footwear sales increased 17% to $3.81 billion, while apparel sales increased 4% to $1.49 billion. Nike's direct sales were $5.1 billion, an 8% year-on-year increase.
Adidas announced its third-quarter results for 2022. Quarterly revenue was €6.408 billion (approximately $6.81 billion), up 4% year-on-year; operating profit was €564 million, down 16.0% year-on-year; net profit was €352 million, down 64.2% year-on-year. Greater China revenue was €937 million, down 26.6% year-on-year. Footwear revenue was €3.529 billion, up 9% year-on-year; apparel revenue was €2.455 billion, down 4% year-on-year; accessories were €424 million, up 15% year-on-year.
German sportswear brand PUMA released its third-quarter financial report for 2022. Quarterly sales were €2.35 billion (approximately $2.5 billion), up 16.9% year-on-year; profit before interest was €258 million, up 12.6% year-on-year. By category: footwear increased 33.2% to €1.192 billion; apparel increased 9.9% to €855 million; accessories fell 10.2% to €306 million.
Athletic apparel maker Lululemon Athletica's quarterly results were mixed, with a surge in inventory. Third-quarter earnings were $735 million, up from $541 million in the same period last year. Revenue increased 28% to $1.9 billion. Same-store sales increased 22%.
American athletic apparel brand SKECHERS announced its third-quarter results for 2022. Quarterly sales were $1.878 billion, compared to $1.558 billion in the same period last year. Quarterly net income attributable to the company was $85.89 million, compared to $103 million in the same period last year.
Under Armour announced its second-quarter results for fiscal year 2022 ended September 30, 2022. Quarterly net revenue was $1.574 billion, compared to $1.546 billion in the same period last year. Quarterly net income was $86.93 million, compared to $113 million in the same period last year.
ASICS announced its results for the first three quarters of 2022. Net sales from January to September were 363.068 billion yen (approximately $2.72 billion), compared to 322.207 billion yen in the same period last year, an increase of 12.7%. Operating profit for the period was 36.051 billion yen, compared to 35.785 billion yen in the same period last year. Net profit attributable to the parent company for the period was 23.245 billion yen, compared to 19.073 billion yen in the same period last year.
Topsports (TOPSPORTS), a sports retailer, released its 2022 interim results announcement. From March 1, 2022 to August 31, 2022, the company's operating revenue was 13.22 billion RMB (approximately $1.9 billion), down 15.1% year-on-year; net profit was 1.15 billion RMB, down 19.9% year-on-year. TOPSPORTS was founded in 2005 and is the sports business unit of Belle International, a footwear and apparel retailer. As of August 31, TOPSPORTS had 6,928 directly operated stores, down 11% year-on-year, and a total sales area down 0.7% year-on-year.
Swedish clothing brand H&M (Hennes & Mauritz) said its net profit for the third quarter ended August 31, 2022, fell sharply due to one-off costs associated with the winding down of its Russian business. In the third quarter, the company posted a net profit of SEK 531 million, compared to SEK 4.69 billion in the same period last year. Sales were SEK 57.45 billion (approximately $5.49 billion), compared to SEK 55.59 billion in the same period last year. The company booked one-off costs of SEK 2.1 billion related to the phasing out of its business in Russia.
Gap Inc. announced its third-quarter results for the period ended October 29, 2022. Net sales for the quarter were $4.039 billion, compared to $3.943 billion in the same period last year. Net income for the quarter was $282 million, compared to a net loss of $152 million in the same period last year.
Fast Retailing, the parent company of UNIQLO, announced its fiscal year results (September 2021 - August 2022). Fiscal year revenue was 2301.122 billion yen (approximately $17.2 billion), compared to 2132.992 billion yen in the previous fiscal year, a year-on-year increase of 7.9%. Fiscal year operating profit was 297.325 billion yen, compared to 249.011 billion yen in the previous fiscal year, a year-on-year increase of 19.4%.
VF Corporation released its second-quarter results for fiscal year 2023. Quarterly revenue was $3.1 billion, down 4% year-on-year. By brand, Vans quarterly revenue was $1 billion, down 13% from the same period last year. The North Face revenue was $1 billion, up 8% year-on-year.
Apparel manufacturer Hanesbrands Inc. announced its third-quarter results for 2022. Net sales for the quarter were $1.671 billion, compared to $1.79 billion in the same period last year. Net income for the quarter was $80.1 million, compared to $152 million in the same period last year.
Levi Strauss & Co., the parent company of the American jeans brand Levi's, announced its third-quarter results for the period ended August 28, 2022. Quarterly revenue was $1.517 billion, compared to $1.498 billion in the same period last year. Quarterly net income was $173 million, compared to $193 million in the same period last year.
