Latest Headlines – Page 188
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Nautilus tries to recover
Just as in the first half of this year, Nautilus ended the third quarter with a loss, as revenues tumbled by 32.2 percent to $61.7 million, weighed down by the Direct segment. The lower revenues and an unfavorable product mix impacted the gross margin, which dropped by 11.4 percentage points ...
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China tariffs affect Thule
The additional 15 percent duties imposed by the U.S. in July on a variety of products coming from China have led several U.S. retailers to reduce their inventories and to some extent resulted in higher prices that have impacted consumer spending, said the Thule Group to explain a 2.0 percent ...
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The Russian market is apparently rising
Russian consumers have been purchasing sporting goods more frequently in the last few months, basically opting for more expensive options than a year ago, according to certain findings from a market study that have been released by a government agency, Platform OFD. The agency estimated that it rose by 15 ...
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The South Korean market is down by 5%
Many foreign outdoor brands, led by those from Japanese, have reported worsening market conditions lately in South Korea, the seventh-biggest sporting goods market in the world. Dong Chil Kwon, head of Treksta and a former chairman of the local outdoor industry association, predicts that the Korean outdoor market will drop ...
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XXL maps out new strategies after another weak quarter
Releasing poor results for the third quarter, after months of difficulties, XXL ASA, the leading Nordic sports retailer based in Norway, has come up with a new strategy to present along with its latest results. The management said that it is disappointed over the sales trend and losses in market ...
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Adidas speeds up
In line with the management's forecast, the Adidas Group accelerated on the sales front in the third quarter, posting a currency-neutral sales increase of 6 percent, compared with year-on-year increases of 4 percent in the first and second quarter, and the progress is expected to continue in the fourth quarter. ...
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Adidas opens a digital flagship in London
Adidas has opened a new flagship store, which it calls Adidas LDN, covering 27,000 square feet on four levels on Oxford Street in London, opposite the main department store of Selfridges. The site offers a unique, immersive customer experience. According to the company, it is the most digital Adidas store ...
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Puma upgrades its outlook after record results
True to its current mission statement, “Run Faster,” Puma has again upgraded its forecast for the 2019 financial year. It had first predicted a sales increase of around 10 percent at constant exchange rates for the year. It changed that in July to a growth of about 13 percent. After ...
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New top executives for three major sports companies
Almost simultaneously, Nike, Adidas and Under Armour announced changes in their top management shortly after we published our last issue, underlining the rapid transformation that the highly concentrated athletic footwear market is undergoing.
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EMEA shines in Under Armour’s results
Under Armour’s profits and revenues for the third quarter exceeded Wall Street’s estimates, although the company has lowered its full-year revenue forecast, citing lower than planned excess inventory to service the off-price channel, ongoing traffic and conversion challenges in the direct-to-consumer channel, as well as currency headwinds. Revenues are now ...
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Weak results at Asics
Sales and profits declined at Asics Corp. in the third quarter, dragged down by a weak yen and a drop of around 8 percent in performance running to 43.2 billion yen (€356.9m-$395.7m), a category that represents nearly half of its global sales. Nevertheless, the company confirmed its forecast for the ...
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Asics wants to rebound, particularly in Europe
Asics is taking new initiatives to regain the brand's former momentum – particularly in the EMEA region, where its sales declined by 12.4 percent to ¥71.5 billion yen (€590.9m-$655.1m) in the first nine months of this year, leading to a drop in operating income of 57.2 percent to ¥2,069 million ...
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Asics invests more in digital
Asics Corp. continues to make new investments in start-ups and adjacent segments. Late last month, the Japanese group acquired Race Roster, a Canadian-based platform with a suite of services for the organizers of foot races that will complement its Runkeeper platform, based in Boston, and other digital operations. The purchase ...
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Deckers raises guidance on Hoka’s strength
Deckers Brands, the parent of Ugg and other footwear brands, saw its net income progress by 5.0 percent to $77.8 million in its second fiscal quarter, ended on Sept. 30. Revenues rose by 8.0 percent to $542.2 million, or by 9.5 percent constant currencies, driven by gains at Ugg and ...
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Change of the guard at Salomon
Michael White, the current 55-year-old chief commercial officer of Amer Sports, is going to take the place of a company veteran, Jean-Marc Pambet, as president of the Salomon brand on Jan. 1. Pambet will be working closely with White for the next couple of months to ensure a smooth transition ...
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The North Face and Vans drive VF’s results
Despite strong earnings and robust sales, VF Corp. posted results in the latest quarter that missed Wall Street’s expectations. Total sales improved by 5 percent to $3,393 million for the company’s second fiscal quarter ended on Sept. 30, or by 7 percent in constant currencies. Adjusted to exclude the spin-off ...
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VF reshuffles EMEA functions
In a reshuffle of roles at VF Corporation's Swiss headquarters for Europe, the Middle East, and Africa (EMEA), the group has installed Mariano Alonso as the new managing director of Timberland for the region, effective from Nov. 1. He succeeds Timo Schmidt-Eisenhart, who will become the president of the group's ...
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Another set of record results for Columbia
Columbia Sportswear is having a vintage year, scoring record results for the past two quarters. Revenues rose by 14 percent in the third quarter ended on Sept. 30 to $906.8 million, while net income improved by 19 percent to $119.3 million – both all-time records for the group. The gross ...
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Columbia’s “tough mother” has passed away
Gertrude “Gert” Boyle died on Nov. 3 at the age of 95. This iconic figure of the international outdoor industry, who has been often referred to, in effective advertising and elsewhere, as “one tough mother,” was the chairwoman of Columbia Sportswear.With her death, the company's chairmanship will pass temporarily to ...
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Callaway works on new multi-brand synergies
In commenting on its excellent results for the third quarter ended on Sept. 30, Callaway Golf Co.'s management said it is investing in IT upgrades to support omni-channel solutions for all the group's brands and better infrastructures to support their international distribution.It will be converting Jack Wolfskin's German logistics facilities ...
