All Corporations articles – Page 92
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Article
Columbia provides a detailed Covid-19 update
Columbia Sportswear has suspended its quarterly dividend, its stock repurchase program and the guidance that it had given on Feb. 6 for its results in the first half of 2020 and the whole financial year. The company will give a new update when it comes out with its first-quarter ...
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News briefs
Wolverine holding virtual-only AGM
Wolverine Worldwide announced on April 17 that its annual general meeting of shareholders will be held in a virtual-only format on April 30, due to pubic health consideration related to the Covid-19 pandemic. Shareholders who were registered as such on March 18 will be invited to visit a dedicated website ...
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News briefs
Remote voting for Thule’s AGM
Thule Group is encouraging shareholders to exercise their voting rights remotely in advance of the Swedish company’s annual general meeting, scheduled for April 28, in order to minimize the number of people gathered at its location. They have to fill out and send a registration form by April 22 to ...
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News briefs
Big layoffs at Stadium
Just after the announcement of Intersport Sweden’s court-backed reorganization plan, the country’s biggest sporting goods retailer, Stadium, indicated that it was laying off many of its employees because of a big drop in sales, especially in the Stockholm area. Sweden is one of the few countries where retailers that sell ...
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ArticleIntersport Sweden gets protection from creditors
We have already reported about the recent bankruptcy and rescue of Gresvig, the former parent company of Intersport in Norway, and the more recent legal proceedings to save the parent company of Karstadt Sports in Germany. It’s now the turn of Intersport Sweden to seek protection from its creditors through ...
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News briefs
O2Feel funding
O2Feel, the French e-bike brand, has raised €9 million thanks to investments by Compagnie d’Anjou and some partner banks. Based in Wambrechies, in the North of France, O2Feel posted revenues of €15 million in 2019.
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News briefs
Hanesbrands downgraded by Moody’s
Hansebrands, the parent company of Champion, sees its corporate family rating downgraded by Moody’s from ”stable” to “negative.” The rating agency cites the closure of retail stores and the possibility of a protracted reduction in apparel consumption because of the coronavirus outbreak. The company said that it is guaranteeing the ...
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News briefs
Rapala approves share buyback
The annual meeting of Rapala VMC approved on March 26 a proposal that no dividend will be distributed for 2019. It also authorized the board to repurchase up to two million own shares, corresponding to less than 10 percent of its equity until June 30, 2021.
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ArticleDecathlon, Nike and others make anti-virus gear
(Updated on April 8) After a successful experiment in Italy (see our previous issue), Decathlon is working with the same Italian 3D printing specialist to adapt its Easybreathe snorkeling masks for the production of respiratory masks that it is donating to hospitals in France and Spain. It has taken all ...
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Article
Columbia and VF executives cut their paychecks
Without going as far as Tim Boyle at Columbia Sportswear, Jim Rendle, chairman, president and chief executive of VF Corp., has pledged to cut his compensation in half for the next four months to help save cash for the fight against the coronavirus outbreak. Boyle, president and CEO of Columbia, ...
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News briefsVibram pays a 2019 bonus as a positive signal
Like many other companies, Vibram has been hit hard by the current Covid-19 pandemic. Both the research center and production at the Vibram Tech Center in Guangzhou, China, were closed for almost 10 weeks and are now operating at about 80 percent capacity. The production site in Albizzate, near Milan, ...
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Article
Puma will hold a virtual AGM, Adidas will pay rent
Puma announced on April 3 that it was suspending the payment of its dividend for this year. Unlike Adidas, which has decided to postpone its own AGM to a still undefined date, the Wild Cat has decided to stick to the previously scheduled date of May 7, but it will ...
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ArticleGaleria and Karstadt Sports get protection from creditors
Galeria Karstadt Kaufhof (or Galeria for short), the new holding company formed last year from the merger of the Galeria Kaufhof and Karstadt department stores, submitted an application for protection from its creditors which was approved by the local court of Essen on Wednesday. Stressing that the proceedings are not ...
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News briefs
Kathmandu launches an equity increase
Kathmandu is raising additional funds, for a total of NZ$ 207 million (€112.5m-$121.3m) through a series of placements with institutional and other shareholders, offering 1.2 shares for each share in their possession. Institutional shareholders have already taken up 96 percent of their entitlements under a first tranche that ended on ...
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Article
Wolverine wants to save $500 million
As reported in a separate article, Wolverine Worldwide was one of the companies operating in our industry that got the biggest hit on the stock exchange between Jan. 24 and March 31. On March 26, Wolverine released a detailed statement about the proactive and precautionary measures that it is taking ...
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ArticleHow the industry is reacting to the Coronavirus
(Updated on March 27, early morning time) We have been making use of our new SGI Europe and Outdoor Industry Compass websites to give you a constant flow of new information on what the industry is doing about the spreading Covid-19 pandemic in a dedicated “Corona Ticker.” We feel that ...
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Article
Vulcabras has restructured its production
Noted for its insistence on local manufacturing of athletic and women’s shoes, the owner of the Olympikus brand and licensee of Under Armour in Brazil completed the second wave of expansion of its two main factories in Brazil at the end of last year. While starting the second phase of ...
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News briefs
Boardriders divests Xcel
Boardriders has sold its brand of wetsuits, Xcel, on undisclosed terms to ZG Collective of Colorado. Boardriders had recently decided to grow its six primary brands – Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element – over the long term by investing in digital operations, category extensions, new go-to-market models, ...
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Article
Dorel Sports strengthens its cycling operations in Europe
Dorel Sports, a division of Dorel Industries, is scaling up operations for its European Cycling Sports Group (CSG), centralizing them in the Netherlands. The management said the move will support overall growth and maintain the growing momentum of the Cannondale brand.
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ArticleThe North Face is exploring new territories
The North Face is reserving some interesting new surprises in its footwear range for the spring/summer 2021 season, to be presented at the OutDoor by Ispo show in Munich later this year. At the last Ispo show in Munich, the brand created a sensation with its highly technical “Advanced Mountain ...
