Latest Headlines – Page 175
-
Article
China’s Topsports grows despite Covid-19
Topsports International Holdings, the sports retailing arm of Belle International, published good results for the year ended on Feb. 29, although the growth slowed drastically at the end of the period due to the pandemic. The Chinese group, which raised $1.01 billion in an initial public offering on the Hong ...
-
Article
Asics exceeds sustainability targets
In 2019, Asics achieved a 27.9 percent reduction in CO² emissions per pair of shoes during the manufacturing process as compared to 2015 baseline levels, exceeding the 10 percent target that the company had set for itself by 2020. This is the headline result in Asics’ 2019 Sustainability Report, which ...
-
Article
Europe lifts Fila’s results
South Korea’s Fila Holdings Corp, the parent company and co-owner of Acushnet, grew fast in 2019, especially in Europe, where momentum remained strong. For the 12 months ended on Dec. 19, Fila Korea’s licensing royalties from the region surged by 46.5 percent from the previous year to 39,186 million Korean ...
-
ArticleMore than 6,000 visitors at Oberalp's virtual convention
The first virtual sales conventions organized by Schöffel and Oberalp went better than expected, as we have already reported. We have also learnt in the meantime at at least two other outdoor sporting goods companies, Mammut and Vaude, have also held their own digital sales meetings. Organizing three different “studios” ...
-
ArticleTecnica Group performs better than expected
Tecnica Group reported better-than-expected results for 2019, adding that e-commerce and sales of outdoor products and inline skates were positive in the first quarter of 2020, despite the Covid-19 pandemic. The net turnover of the group went up by 6.4 percent to a record €424 million in 2019, which was ...
-
ArticleFoot Locker will convert about 35 Runners Point stores
As we had imagined in reporting the phaseout of its Runners Point banner in Germany, Austria and Switzerland, the management of Foot Locker told investors on May 22 that only about 40 stores would be closed, while the others would be converted to the Foot Locker or Sidestep format. Between ...
-
ArticleAsics is back in the red
Asics ended the first quarter with a loss of 243 million yen (€2.0m-$2.2m), versus a profit of ¥4,365 million for the same quarter last year, weighed down by store closures. The management said that recent efforts to restructure the business helped sales in Europe and the U.S. until March, when ...
-
ArticleIspo measures the pandemic’s effects on sports retail
Ispo has released the results of a survey it launched on April 9 to determine the effects of the pandemic on European sports and outdoor retailers. Among other interesting points, the survey indicated that Covid-19 began to strike their businesses early, that many resorted to home deliveries and the internet ...
-
Article
Facebook wants to become a shopping platform
In response to the current corona crisis with the worldwide closure of many physical shops, Facebook has started to integrate a shopping function into its main social network, as it has already been doing on Instagram. Mark Zuckerberg, founder and chief executive of Facebook, said in a livestreamed video on ...
-
ArticleFoot Locker closes its German Runners Point chain
Confirming in part a report aired on a German TV channel, Foot Locker said it “intends to consolidate our Runners Point business into our other operations in Europe,” after a year-long assessment of its operations and the competitive landscape in Europe. The TV report said that all the remaining Runners ...
-
ArticleWintersteiger acquires control of a maker of ski lockers
Wintersteiger – the Austrian provider of machines for ski repair and maintenance, software for ski rental, and equipment and furnishings for ski shops – is acquiring a 51 percent stake in another Austrian company, Steurer. The company boasts some 5,000 clients around the world, including ski shops, hotels and mountain ...
-
Article
VF claims it can hike through the Covid storm easily
In releasing its financial results for the fourth quarter ended on March 31, the management of VF Corp. insisted that the company is in a better position than some of its competitors to navigate through the “storm” caused by the coronavirus pandemic for several reasons, including good liquidity, a flexible ...
-
Article
Heavy losses for Yue Yuen
As China struggled with the coronavirus outbreak early in the first quarter, Yue Yen Industrial Holdings was strongly impacted by government measures to contain the spread of the disease. The world’s largest shoe manufacturer posted a net loss of $56.3 million for the period, against net income of $75.5 million ...
-
ArticleCoronavirus slows Technogym’s sales, but home fitness rockets
Lockdowns and store closures hit Technogym’s sales in the first quarter, although this was partly offset by higher sales of home fitness equipment, as more people exercised indoors. The Italian company’s total revenues dropped by 11.2 percent from the year-ago quarter to €116.8 million, or by 11.9 percent in constant ...
-
ArticleOdlo has a new owner
Monte Rosa Sports Holding AG, a company based in Switzerland, has acquired Odlo International, the Swiss producer of functional sports underwear, together with all its national subsidiaries, from Herkules Fund III. The transaction was completed on Wednesday, May 13, for an undisclosed price. Odlo was founded in 1946 in Oslo ...
-
Article
Dorel rides well on higher demand for bikes
Dorel Sports, the bike division of Dorel Industries, is one of the few businesses that managed to grow through the pandemic. It registered revenues of $188.2 million for the first quarter, representing a 2.0 percent increase from the same quarter a year earlier, driven by strong performances at the Cycling ...
-
Article
Mizuno’s profit drops by 23%, but Europe improves
Lower sales of running shoes, combined with a weak home market for golf and other sporting goods, weighed on Mizuno’s sales for its fiscal year ended on March 31. The Japanese group’s revenues declined by 4.7 percent from the previous year to 169,700 million yen (€1.45bn-$1.62bn). The gross margin narrowed ...
-
ArticleUnder Armour sees drops of 23% in Q1 and up to 60% in Q2
Under Armour reported a 22.8 percent hit on its revenues for the first quarter of 2020, down to $930.2 million, blaming about 15 percentage points of the decrease on Covid-19 and warning that they might drop by between 50 and 60 percent in the second quarter. Unlike its peers, the ...
-
ArticleSportmaster inks a partnership with an online store
Russia’s biggest sporting goods retailer has signed a partnership agreement with the big Russian online fashion store of Lamoda, under which Sportmaster will soon begin selling sports and outdoor footwear and apparel through its marketplace. Sportmaster said it was planning to only offer goods under its private Demix and Outventure ...
-
Article
Acushnet posts lower-than-expected sales and profits
The first-quarter results of Acushnet, the American golf company controlled by Fila Korea, did not meet analysts’ expectations. Sales declined by 5.8 percent to $408.7 million, or by 4.6 percent in constant currencies, due to a decrease in Titleist golf ball sales and FootJoy golf wear, hampered by Covid-19. As ...
