Intersport International, the sport retail group headquartered in Switzerland, has announced a significant decline in revenue for the year 2020. The company’s total revenue for the year was €10.6 billion, a decrease of 13.8% compared to the previous year’s €12.3 billion.

One of the main factors contributing to Intersport’s financial struggles was the unusually warm winter, which impacted sales of winter sports equipment and apparel. Even before the COVID-19 pandemic hit, the company was already facing pressure. However, the multiple lockdowns and restrictions imposed as a result of the global health crisis further exacerbated the situation. Despite these challenges, Intersport has managed to adapt by sourcing products from regions outside of Asia.

In addition to the decline in revenue, Intersport also experienced a 9% decrease in comparable sales. This can be attributed to the reduction in the company’s store network, with 240 fewer stores operating in 2020 compared to the previous year. Intersport now has a total of 5,186 stores worldwide.

When it comes to regional performance, Intersport saw growth in countries such as China, Australia, and Ukraine. However, southern Europe, South-East Asia, and Latin America experienced larger declines compared to the overall group performance.

Despite the challenges faced in 2020, Intersport International’s online sales saw significant growth, with a tripling in value in many markets. The company’s subsidiary, The Athlete’s Foot, which specializes in sneakers and sport footwear, reported a 9% drop in revenue. However, it was still able to expand its store count from 561 to 570.

Looking forward to 2021, Intersport International remains optimistic. They are encouraged by the increase in sports participation, particularly in activities such as running, fitness, and cycling. The group expects improved results for the Spring/Summer 2021 period compared to the same period in 2019. Despite the challenges faced in 2020, Intersport International sees potential for growth and remains positive about its future prospects.

Useful Links:
1. Intersport Official Website
2. Intersport Digital