Both the Intersport/Sport 1 group and Stadion did better than the market in the second quarter.
EATING XXL: Sport Holding, the group that owns Intersport among other things, had a far weaker fall in turnover than XXL in the second quarter. Photo: Hanna Kristin Hjardar / E24 Published: Published:
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After two very good years in the sports industry during the pandemic, it is now more difficult, figures from the Sports Industry Association show.
Compared to the second quarter of last year, turnover for the sports industry chains was 5.3 per cent lower.
The figures are particularly burdened by crisis-hit XXL. The country’s largest sports chain has struggled with far too much stock, held “fire sales” to get rid of the products, taken big losses and bled on the stock market.
Previous accounts showed that XXL turnover fell by more than 7 per cent in the quarter.
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XXL’s biggest competitors are Sport 1 and Intersport. The chains are run separately, but are owned by the same Gjelsten- and Sunde-controlled group, Sport Holding.
Managing director Ole-Henrik Skirstad says that they had a total drop in turnover of 1.2 per cent.
– We are happy to take some market share, he says.
Ole-Henrik Skirstad is CEO of Sport Holding. Photo: Sport Holding
Skirstad describes June as a fine month. At the same time, he does not hide the fact that it is a time characterized by generally lower demand.
– The overall macro picture affects us all. Also the customers, who shop a little more reasonably than before. We would like to have blue numbers, blue numbers, While red numbers indicate loss, or in this case decline, blue numbers indicate the opposite. but we are not dissatisfied.
– Is the inventory where it should be?
– We have control over it and have seen no particular reason to have extraordinary fire sales to bring it down. But there is greater pressure on the margins than last year. People want a good deal – and they get it.
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Smaller bike
The stadium is the country’s fourth largest player, behind XXL, Intersport and Sport 1.
The chain differs from the others by not being a typical chain with lots of Stadium-profiled stores. Managing director Gisle Daviknes describes his own organization rather as a voluntary chain “for good and independent sports shops”.
– We are an alternative to low prices and the campaign rush by focusing on subjects and quality.
Stadium manager Gisle Daviknes is constantly taking market shares. Photo: Stadion AS
The chain has many times in recent years reported stronger turnover growth than the industry average. This is also how it is now.
– We increased by 4.4 per cent in the second quarter, says Daviknes.
– To what do you attribute that development?
– We still focus on brands as opposed to our own brands and feel that there is a market for that. And then there could be one explanation is that we are somewhat less exposed to bikes that have broken.
Managing director Trond Evald Hansen of the Sports Industry Association writes in a press release that there were still some delays in bicycle deliveries during the second quarter of the year.
“Before we have summed up the cycling season, the signals from the industry are that bicycle sales are slightly down compared to last year.”
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The most expensive remains
Daviknes says that the inventory for the Stadium “is still somewhat larger than desirable”.
And although the Stadion manager on the one hand focuses on “professionalism and quality” when explaining the share growth, he does not hide the fact that they too notice the customers’ weakened purchasing power.
– We see that the most expensive products are more often left behind. And not least, we notice pressure on the margins. It is inevitable when certain players engage in as aggressive fire sales as they do.
– But taking the economic conditions into account and how everything is developing, we are satisfied with the year so far.
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2023-08-21 16:00:12
#Competitors #XXL #crisis
