Signa Sports United generated $289 million in revenue in Q2 2022, a 48% increase compared to the same period the year prior.
The German bicycle and tennis equipment retailer attributed the growth to an expanding customer base despite inflationary pressures, geopolitical concerns, and inventory shortages.
- Signa reported 7.4 million active customers in Q2, a 62% increase year-over-year.
- The retailer failed to meet demand for its full-bike and e-bike products during the quarter.
- It posted a net loss of $40 million in Q2.
- The company expects full-year revenue to range between $1.3 billion and $1.5 billion.
Signa went public in December 2021 via a merger with Yucaipa Acquisition Corporation, a blank-check company led by Pittsburgh Penguins part-owner Ronald Burkle. Signa raised $484 million during the transaction, valuing the company at $3 billion.
The same month, Signa agreed to acquire Tennis Express and online cycling store Wiggle.
Q2 2022 marked Signa’s first fiscal quarter with full contribution from its acquisitions of Tennis Express and Wiggle, which has annual sales of roughly $500 million.
Signa is reportedly close to securing an investment worth more than $370 million from a group that includes Saudi Arabia’s sovereign wealth fund — the Public Investment Fund.
The capital will be allocated toward expanding Signa’s presence in the U.S.