Latest Headlines – Page 172
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ArticleAnta issues warning on first-half profits
Anta Sports Products said it expects to report a drop of about 25 percent in its earnings for the first half of this year, largely as a result of restrictions implemented during the Covid-19 crisis. They are even expected to be down by 35 percent from the year-ago period when ...
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ArticleXXL bounces back
It seems that there is light at the end of the tunnel for XXL ASA, after many quarters stuck in a downward spiral. To turn the business around, the leading Nordic sports retailer has been taking drastic steps such as cutting costs, clearing inventory and searching for new “sustainable” sources ...
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New P2B regulation for a fair platform business
On July 12, 2020, a new Platform-to-Business Regulation (P2B) came into force in the European Union to ensure more transparency and fair competition from internet marketplaces and online platforms. One of the reasons for the new quidelines is that the business of the affiliated retailers is largely dependent on the ...
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On will not go public, but lifestyle
On Running, denies a report that it is contemplating a possible public offering of shares (IPO), which appeared in the Sunday edition of the Neue Zürcher Zeitung newspaper. The IPO would have reportedly taken place in the summer or autumn of 2021, valuing the company at more than $2 billion. ...
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Russia’s Sportmaster wants to trade more online
Russia’s biggest sporting goods retailer, Sportmaster, plans to boost the share of sales online to 30 percent, as compared to 12 percent before the coronavirus pandemic, said Dmitry Strakhov, Sportmaster’s sales and development director. To reach that goal, Sportmaster plans to design and launch a new online store as well ...
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ArticleMartes Sport expands in Poland and abroad
While putting on hold the planned rebranding of its higher-end Martes Sport Premium stores, Poland’s largest sporting goods retailer is continuing to add new stores to its chain and to expand internationally, in spite of the coronavirus epidemic. Martes Sport has opened a total of 16 new locations under its ...
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Macron posts 15.6% sales growth and moves to a new green HQ.
Macron, the Italian specialist in team sports jerseys, posted consolidated revenues of €113.1 million in 2019, which represented a 15.6 percent increase as compared to the previous year and the third consecutive year of double-digit sales growth. Ebitda rose by 16 percent to €15 million. The Italian sportswear company, based ...
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ArticleCovid-19 drives rent renegotiations, partnerships
Retailers in Europe and the U.S. have been seeking rent relief while reeling from Covid-19 shutdowns, and now that their stores have reopened, they are facing uncertain sales prospects and higher costs to meet health and safety requirements. Although some landlords have taken a hard line, many others have been ...
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Forum Sport posts its first sales decline in eight years
Forum Sport has posted its first decline in annual sales since 2012. The Spanish sporting goods retailer’s revenues amounted to €124.7 million in the financial year ended on Jan. 31, down by 0.9 percent from €125.8 in the previous year. After a record sales increase of 200 percent on Black ...
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ArticleMcKinsey looks at the “new normal”
Experts from McKinsey & Co. made some recommendations to sports brands and retailers on how to cope with the “new normal” that is shaping as a result of the Covid-19 pandemic at two webinars hosted by the World Federation of the Sporting Goods Industry (WFSGI) at different times of the ...
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WFSGI’s latest monthly survey shows new corona-related trends
The World Federation of the Sporting Goods Industry (WFSGI) has noted a slight improvement in the supply/demand balance for sporting goods products as the number of sporting goods manufacturers facing a decrease in demand because of the coronavirus pandemic has dropped in all the regions of the world except in ...
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ArticleOnline sales support Kathmandu and Rip Curl
Kathmandu Holdings told investors that it expects a 30 percent drop in adjusted Ebitda for the current financial year, in spite of strong online sales during the recent corona-related retail lockdowns in Australia and double-digit sales increases overall after its stores reopened. While it is still more than half way ...
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ArticleJD reports strong gains, but wants to pay less rent
While reporting record results for the financial year ended on Feb. 1, JD Sports Fashion indicated that it will slow down the pace of new store openings, making them partly dependent on the “rental realism” of landlords. The increasingly international sports and outdoor retailer based in the U.K. reported a ...
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ArticleA new owner for eVent
eVent Fabrics, a Missouri-based developer of waterproof/breathable solutions for apparel, has announced that a company based in Hong Kong, Performax Pro, assumed full ownership of the eVent brand on June 30, after acquiring it from Parker Performance Materials for an undisclosed sum. Performax Pro is a provider of performance ...
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ArticleNPD measures the impact of Covid-19 in Europe and China
The NPD Group estimates that there was a drop of around 24 percent in sales of sports shoes during the first half of 2020 in Germany, France, Italy and Spain – the four European countries where it uses a retail panel of multi-sport specialty stores, combined with sell-out data from ...
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Adidas' brand equity grows more than Nike's
Nike and Adidas are once again the only two sports brands among the 100 “most valuable brands” in the annual rankings compiled by BrandZ, which have just been released by Kantar Millward Brown. The Swoosh remained in 21st place, while the Three Stripes is up by 8 positions to number ...
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New Balance to be in control of all of Western Europe
New Balance will control the distribution of its products all over Western Europe from next year. It has just announced the termination by next Jan. 1 of an important agreement with Groupe Royer, which has been covering its domestic French market as well as Germany and the Benelux countries for ...
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Facebook boycott gains ground in the sports sector
Big sports brands like Adidas, Arc’teryx, Lululemon, Puma and Reebok have joined many others in the last few days in boycotting Facebook in response to a call by six civil rights group to stop advertising on the leading social network in order to prompt it to ban fake news and ...
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Germany’s anti-trust body clears Intersport’s new online business model
The online sales model of Intersport Germany’s shared online platform has been cleared by the German Cartel Office, or Bundeskartellamt. Noting that it is difficult for small retailers to compete on their own against major online retailers like Amazon and the brands’ online shops, the anti-trust body said it sees ...
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Lululemon to acquire home exercise platform
Lululemon will be spending $500 million to acquire Mirror, an American company that has created an interactive, home-based exercise platform with live classes, on-demand classes and one-on-one training. It will be Lululemon’s first takeover of another company. Mirror markets a $1,495 interactive home gym built into a full-length wall-mounted mirror ...
