Latest Headlines – Page 181
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Cabrinha Kites falls under new ownership
The leading Hawaiian kitesurfing brand is returning to its roots. Cabrinha’s founder, Pete Cabrinha, has teamed up with a U.S. investment company, Water Bound Investments, to buy the brand back from the Hong Kong-based NeilPryde Group. Water Bound Investments is managed by a former kite professional and Cabrinha team rider, ...
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Shimano buys Pioneer Sports Cycle assets
Shimano is planning to develop new products, web services and applications using certain assets of Pioneer Sports Cycle that it has acquired from Pioneer Corporation, the U.S. company that developed the first pedaling monitor and cycling computers in 2013.
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Big loss at Fitbit pending Google’s bid
Google’s proposal to acquire Fitbit for $2.1 billion was approved by the latter’s shareholders on Jan. 3, but it is still undergoing regulatory scrutiny in the U.S. and Europe. In both areas, regulatory authorities have expressed concern that the health and other data being collected by Fitbit will be used ...
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Uvex offers smart crash sensors
Uvex, the German producer of spectacles and helmets, has entered into a strategic distribution partnership for Germany and Austria with a German start-up, Tocsen, which has developed smart crash sensors that are compatible with ski and bicycle helmets and can quickly call for help in an emergency.
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MIPS’ sales jump by 41%
MIPS, a Swedish supplier of helmet-based safety technologies intended to protect wearers against rotational movements, saw good growth in the fourth quarter, with sales rocketing by 41 percent from the year-ago quarter to 88 million Swedish krona (€8.3m-$9.0m). Adjusted for currency effects and acquisitions, and on an organic basis, they ...
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Ispo Awards praise sustainability, get new team
As usual, an independent jury has selected the winners of the Ispo Awards for this year’s Ispo Munich. The most innovative products in snow sports, outdoor, running, fitness & team sports and sustainability were chosen from a large number of high-quality entries. While the titles “Winner” and “Gold Winner” have ...
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Canada Goose lowers outlook due to Coronavirus impact
Canada Goose Holdings has drastically lowered its guidance for the financial year ending on March 29 due to the coronavirus outbreak and its impact on sales in Mainland China. The management said that the virus is affecting retail sales of its products both in China and in stores located in ...
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New CEO for Rapala
In the midst of reforms to turn around the business, Rapala VMC has appointed Nicolas Warchalowski as its new chief executive, effective from March 1, 2020. He has had an extensive career in international consumer businesses, heading up companies such as BabyBjörn, Peak Performance and Haglöfs.
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Moncler continues to grow, without Kering
The chief executives of Moncler and Kering have both denied press speculation about a possible acquisition of the Italian brand of luxury outerwear by the parent company of Gucci, Saint Laurent and other luxury goods brands, which spun off Puma two years ago. Indicating that there were no concrete plans ...
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Footway bids for Sportamore
The Footway Group, a Swedish online shoe retailer that is expanding internationally, announced on Feb. 17 that it wants to buy Sportamore, a leading Swedish online retailer of sports products. Footway has offered to pay 439 million kronor (€41.5m-$44.9m) in cash and shares for Sportamore, or a premium of around ...
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ArticlePlanet Sports is insolvent
The German sports retailing landscape is changing rapidly. A Munich court has accepted a request to place Planet Sports, a leading German action sports and streetwear retailer, under bankruptcy protection, according to TextilWirtschaft. The information, which could not be confirmed by the time of going to press, highlights the difficulties ...
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ArticleMixed results for Thule
The phasing-out of low-margin contracts with OEMs (Original Equipment Manufacturers) in the U.S. had a negative impact on Thule’s sales of SEK 11 million Swedish kronor (€1.0m-$1.1m) for the fourth quarter, and accounted for half of the negative trend in the region. The Swedish company is known for its roof ...
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ArticleOutdoor and Fitness are Garmin’s power engines
Garmin’s revenues jumped by 18 percent to $1,102 million in the fourth quarter, once again lifted by fitness and outdoor products. Net earnings soared by 90 percent to $360.8 million.
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ArticleBrooks runs faster in EMEA, sues U.S. firm
Brooks Running has reported a sales increase of 18 percent in the EMEA region in 2019, led by the U.K., DACH (Germany, Austria and Switzerland) and France. Revenues grew in the U.K. by 39 percent, in DACH by 18 percent, and in France by 20 percent.
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ArticlePuma outperforms
Puma’s share price rose by 8 percent after the company reported better-than-expected results for the fourth quarter of 2019, with strong gains in Europe. Revenues jumped by 20.6 percent from the year-ago quarter to €1,479 million, while the operating profit (Ebit) surged by 46.8 percent to €55.2 million, and both ...
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Return to profitability for Asics, despite weakness in Europe
Asics Corporation returned to profit for the full 2018 financial year, with net income reaching 7,097 million yen (€59.6m-$64.6m) against a loss of ¥20,327 million for the previous year.
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GoPro ends the year on a high
The battered American brand of action cameras benefited from production delays in the third quarter, which pushed deliveries of GoPro’s new Hero8 cameras into the fourth quarter, leading the company to record strong results for the three months to Dec. 31.
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ArticleUnder Armour’s shares tumble on weak outlook
Investors were disappointed by Under Armour’s performance in the fourth quarter, sending shares down by 17 percent after the company published its results. The group ended the last three months of the year with a net loss of $15.3 million, weighed down by a $42.3 million hit from several accounting ...
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Mizuno lowers its guidance
Weak sales in Japan and Asia in the third fiscal quarter ended on Dec. 31 have led Mizuno to lower its guidance for the full financial year. It now expects sales of 175,000 million yen (€1.5bn-$1.6bn) down from a previous forecast of ¥185,000 million, and net income of ¥5,200 million ...
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JD’s acquisition of Footasylum hits anti-trust hurdle
Mike Ashley, the maverick boss of Sports Direct, must be jumping with joy at getting his way with his criticism of JD Sports Fashion’s acquisition of Footasylum last April, which is again being questioned by the U.K.’s Competition and Markets Authority (CMA). The CMA launched a review of the case ...
