Latest Headlines – Page 193
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Adidas maintains its guidance but warns about a global crisis
Commenting on the Adidas Group's latest results just after a much-criticized, temporary drop in the value of the yuan renmimbi, the company's chief executive, Kasper Rorsted, warned last Thursday that “everybody will lose” if the trade dispute between the U.S. and China escalates into a currency war, as it will ...
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Adidas and Sportmaster join forces on the Russian market
Confirming our previous report on the subject, Adidas and the biggest Russian sports retailer announced that they had signed a new partnership agreement in a joint statement on July 23. For many years, Adidas had refused to sell it products to Sportmaster, focusing instead on its own large network of ...
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Asics’revenues decline in Europe
The Japanese giant had lower revenues in the second quarter, especially in the Europe, the Middle East and Africa (EMEA) region. Sales there contracted by 10.7 percent to 46,651 million yen (€390.3m-$441.5m), mainly due to weak sales in the performance running category and the effect of foreign exchange rates. In ...
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Intersport works with Amazon and SportMarken24 in Germany
Intersport Germany continues to expand the range of omni-channel services for its retail members. Most recently, the German-based retail cooperative opened new channels for targeted sales on third-party platforms.In addition to its own online platform, intersport.de, which operates out of its headquarters in Heilbronn, the company is now offering to ...
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Otto and ECE form an internet joint venture
The big German Otto Group, which deals in online and offline retailing, the management of shopping centers and other activities, has generally maintained a strict separation between the businesses of its subsidiaries Otto and ECE. Positioning itself against big players like Amazon and Zalando in the battle for market shares, the group ...
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SportScheck will offer retail media services
SportScheck, the leading German sporting goods retailer that is part of the Otto group, held its first Retail Media Day at the end of July, offering to give more exposure to sports brands as well as others in fashion and other fast-moving goods and brand partners like BMW in various ...
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Zalando is pushing Connected Retail
Zalando made a big pitch for its marketplace at the Ispo Digitize Summit in Munich last month, pointing out that it can help suppliers and retailers of sports and fashion products in many ways. As previously reported, it wants it to contribute to 40 percent of its gross merchandising value ...
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Wolverine banks on H2
Wolverine Worldwide posted lower-than-expected sales in the second quarter ended on June 29, but its profitability slightly exceeded forecasts. The management largely confirmed its previous projections for the full financial year, predicting a strong second half, with a 5.5 percent currency-neutral increase driven by gains of nearly 10 percent for ...
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Strong growth for Crocs in Q2
Led by a robust performance in the wholesale channel, e-commerce and comparable store sales, Crocs' revenues reached $358.9 million in the second quarter, growing by 9.4 percent from the second quarter of 2018, or by 12.5 percent on a constant-currency basis. This came despite the negative impact of store closures ...
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Champion flies high
Exceeding expectations, the Champion brand's sales grew by more than 50 percent globally in the second quarter ended on June 29 excluding the mass market channel in the U.S., according to its parent company, HanesBrands. Orders remained strong for Champion, with additional product innovations in the pipeline. The brand is ...
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Mixed results for Lafuma
Groupe Lafuma said the structural changes in its markets and customer consumption patterns continued in the first half of 2019 - with a decline in physical store traffic and an increase in online activity - and it has made targeted investments to respond to these changes and improve the customers' ...
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Accell Group moves out of the U.S.
Completing its so-called North American strategic review, Accell Group is selling off nearly all of its loss-making U.S. operations, which it has defined as non-core. The purchasing party is Regent LP, a private-equity firm operating out of Beverly Hills, California, that previously acquired Mavic, the producer of bicycle rims owned ...
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Dorel Sports does well in the second quarter
Revenues for Dorel Sports, the bike division of Dorel Industries, went up by 7.4 percent in the second quarter to $241.0 million, or by 9.4 percent in constant currencies. Excluding foreign exchange rate fluctuations and the divestiture of its performance apparel business last year, revenues increased by 11.1 percent. Most ...
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Callaway’s sales soar, boosted by Jack Wolfskin
After two consecutive quarters of mixed results, the latest quarter was an improvement for Callaway Golf. The group's net profit for the three months ended June 30 sank by 53 percent from the year-ago period, down to $28.9 million, but this was mainly due to currency headwinds and the impact ...
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Lower sales and profits for Acushnet
Acushnet had a disappointing second quarter, hampered by lower sales of Titlest golf clubs. The company saw its net income drop by 3.5 percent year-on-year to $38.5 million, while revenues fell by 3.3 percent to $462.2 million, or by 0.8 percent on a constant-currency basis.Although the company recorded lower sales ...
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Mizuno sees lower sales, but profits soar
A weak home market for sporting goods weighed on the Japanese company's sales for its first fiscal quarter, ended on June 30. Depressed by the depreciation of the yen, they fell by 1.4 percent from the year-ago quarter to 42.2 billion yen (€358.9m-$401.1m) with declines in all the regions except ...
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Sierra drags down Clarus’ revenues
Clarus' momentum seems to be slowing down, after a first quarter that saw the company grow by 15 percent, reaching record revenues. In the second quarter, the group's sales only progressed by 2 percent to $46.9 million - or by 3 percent in constant currencies - weighed down by the ...
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Tariffs weigh on Johnson Outdoors’ profits
Johnson Outdoors' earnings for its third fiscal quarter, ended on June 28, were hampered by the first round of new tariffs that were imposed by the U.S. on China last September amid the ongoing trade war between the two countries. The company's net income declined by 7.1 percent from the ...
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GoPro is getting closer to breakeven
GoPro's aggressive cost cutting efforts, disciplined expense and inventory management are starting to bear fruits. While the gross margin expanded by 5.5 percentage points to 34.9 percent, the American brand of action cameras managed to narrow its net loss in the second quarter to $11.3 million, down from $37.3 million ...
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Nautilus cuts jobs following poor results
Just as in the first quarter, Nautilus ended the second one with a loss, as sales tumbled by 21.8 percent to $59 million, weighed down by the Direct segment. As a result, the company announced that it is reducing the workforce and other cost cuts that are expected to save ...
