New Wave Group sees 12th quarter of growth, targets USA

By

Sandra Halliday

Published
Aug 21, 2017

Sweden’s New Wave Group reported a 12th consecutive quarter of growth in Q2 as the owner of a basket of sports ranges said sales rose 9% and operating profit rose a stronger 10%, even with the impact of a negative calendar shift.

The company said its sales rose to SEK1.372bn with operating profit up to SEK110.5m and net profit of SEK77m in the three months to June 30.

The company said it was encouraged by the profits growth considering its substantial investment spend on both new products and marketing. It was also pleased by the sales result as the fact that Easter was in Q2 this year could have been expected to have had a detrimental effect on turnover.

It also said all regions and all segments have shown growth during the first half.

As for the future, its Craft Teamwear is “starting to take off” and it has signed PEC Zwolle, the Finnish floorball association, Warberg Floorball Club and Lycurgus Volleyball Club, among other elite clubs and teams. It will add more clubs in Europe over the next few quarters.

The Cutter & Buck sports brand that it has owned for 10 years and its core Clique brand will open a new Canadian warehouse this month and the firm is also planning new warehouses in Germany and Belgium as well as automation  for parts of its warehouse in Italy.

The US is a key focus for its future expansion strategy and it will be starting extensive marketing there later this and continuing it into next year.