Wednesday November 29, 2023

Fila Rebounds with Boost from Acushnet

  • Fila's second quarter revenues rebounded after a drop in the same period last year.
  • Earnings from Acushnet provided a major lift.
Fila tennis and athletic appearal.
Geoff Burke-USA TODAY Sports/Design: Alex Brooks
Linkedin
Copy Link
Link Copied
Link Copied

Fila recorded a 63% year-over-year increase in revenue, reaching $870.7 million in the second quarter as its mix of athletic wear and golf products bounced back from pandemic lows.

Both the company’s revenue and gross profit of $446.2 million eclipsed 2019’s totals, as well. 

Key to Fila’s comeback is its majority stake in Acushnet, owner of golf product brands including Titleist, Footjoy, and Scotty Cameron. The company’s non-core holdings, namely its 52% stake in Acushnet, accounted for $598.4 million — 68.7% of its Q2 revenue.

  • Fila’s U.S. division saw its revenue rise 101.1% to $97 million — still 19.8% below its Q2 2019 showing of $120.9 million.
  • In April, consulting firm Brand Finance rated Fila the fastest-growing apparel brand, with a 68% year-over-year increase in brand value to $2.7 billion. 
  • Acushnet’s net sales more than doubled year-over-year to $624.9 million in the second quarter. That figure was up 35.2% from the same period in 2019.

Fila first bought into Acushnet in 2011, when the latter was acquired by a group of investors for $1.1 billion. It became majority owner in 2016 when it bought a 20% stake through its holding company, Magnus Limited.

Linkedin
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

USGA’s Amanda Weiner on Delivering
Personalized Fan Experiences with
 AI and Automation

How the USGA is using AI to streamline content creation and distribution.

Two U.S. World Cups in Two Years?

The United States is hoping to host the 2027 Women's World Cup.
Saudi player wins ball from Argentinian player in World Cup match-up

$1B Saudi Arabian-FIFA Deal Expected To Follow 2034 World Cup Bid

Saudi oil company Aramco is reportedly close to a deal with FIFA.
Rory McIlroy reacts to his putt on the third green during the third round of the TOUR Championship golf tournament at East Lake Golf Club.

Rory McIlroy Resigns From PGA Tour Policy Board

The 34-year-old served on the Board for two years.
podcast thumbnail mobile
Front Office Sports Today

Report Claims Sports Illustrated Publishes AI-Generated Articles

0:00
0:00

Featured Today

Lane Kiffin

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.
LSU Lady Tigers head coach Kim Mulkey reacts against the Iowa Hawkeyes during the NCAA Womens Basketball Final Four National Championship at American Airlines Center.
November 6, 2023

Who Is The Highest-Paid Women’s College Basketball Coach?

LSU rewarded Kim Mulkey after winning a national title after her second year leading the program.
The Pac-12’s Collapse Will Have Ripple Effects on College Basketball.
November 6, 2023

The Pac-12’s Collapse Will Have Ripple Effects on College Basketball

The existing Pac-12 host a college basketball season for the last time.
Favre Presley
November 3, 2023

Brett Favre Controversy Casts Shadow Over Mississippi Gubernatorial Race

Candidate Brandon Presley has made the scandal one of his talking points.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Wasserman
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
The swoosh logo at Nike Eugene.

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.
Sponsored

USGA’s Amanda Weiner on Delivering
Personalized Fan Experiences with
 AI and Automation

How the USGA is using AI to streamline content creation and distribution.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
Topgolf
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
Endeavor
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.