Latest Headlines – Page 199
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Adidas’ margins climb further, European sales lag behind
The Adidas Group continued to emphasize profit margins in the first quarter of 2018. Its net earnings from continuing operations went up by 16.5 percent to €631 million, and earnings per share actually leaped by 19 percent as the company continued its share buy-back program. Sales increased by only 6.1 ...
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China and Russia offset a drop in Western Europe
One of the reasons why the group's profit margins are projected to grow at a slower pace than in the first quarter for the full financial year is that the company wants to have more room to boost its sales in Europe, which were down by 3.3 percent in the ...
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Adidas extends its contract with Real Madrid, paying dearly
Adidas and Real Madrid have agreed on a new contract that extends their partnership for eight more years, through June 2028. The parties have agreed not to disclose the value of the deal. According to various sources, it is worth between €100 million and €120 million a year, but Adidas ...
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A new important partner for Intersport in China
The Suning Holdings Group, the second-largest private company in China and a major omni-channel retailer operating in various sectors, has signed a franchising agreement with Intersport International Corp. (IIC) for several provinces and municipalities in China. The company plans to open a first Intersport store in Nanjing in the coming ...
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Zalando expands its customer reach
Zalando reported that the number of active customers increased by 14.1 percent year-on-year during the first quarter of 2019 to 27.2 million, with site visits rising by 29.5 percent to 924 million. The larger customer base placed more frequent orders than before. The number of orders per active customer grew ...
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Asos is not doing as well as Zalando
Zalando saw its share price go up after already it announced that it expects to post a positive adjusted operating profit (Ebit) in the single-digit million range for the first quarter of this year, in contrast with market expectations of negative Ebit of €10 million. Meanwhile, its big British rival, ...
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New strategic investor for Netshoes
The big Brazilian e-tailer specializing in sports shoes and apparel has been losing money since it went public on the New York Stock Exchange two years ago at a price of $18 per share, consistently failing to meet its guidance. Netshoes' founder and chief executive, Marco Kumruian, and other major ...
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Centauro’s parent goes public
The change of ownership at Netshoes took place only a couple of weeks after Grupo SBF, the parent company of Centauro, went public on the stock exchange of São Paulo. Through its 150-odd Centauro stores and the related web store, Grupo SBF is the biggest sporting goods retailer in Latin ...
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Elan joins Bic Sport and other firms in a new KJK Sports group
KJK Management, an equity investment group based in Luxembourg, announced that KJK Fund III, a €250 million private equity fund launched in 2018, has completed the purchase of 100 percent of the shares of Elan. Best known in our sector for its important ski division, the Slovenian company, founded in ...
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Xtep will buy the parent of K-Swiss and Palladium
Xtep International Holdings, the Chinese sportswear group that announced in March a joint venture with Wolverine Worldwide for the sale of Merrell hiking gear and Saucony running shoes in mainland China, has agreed to buy a 100 percent stake in E-Land Footwear USA, the owner of K-Swiss, Palladium, Supra, PLDM ...
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Wolverine Worldwide sets up an Italian subsidiary
Wolverine Worldwide is doubling up on its efforts to revitalize Saucony. After its previously reported agreement with Xtep International for the distribution of Saucony as well as Merrell in China, the group has taken over the distribution of Saucony in Italy from its Italian distributor, Sportlab.It has set up a ...
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Asics posts mixed results
While 2018 was a tough year for Asics, in which its global sales fell by 3.4 percent to 386.6 billion yen (€3.1bn-$3.5bn), the company experienced a mixed first quarter through March.Despite a 16 percent sales increase in direct-to-consumer (DTC) sales, including a 56 percent jump in e-commerce, the company's global ...
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Mizuno increases profits despite weaker sales
Lower sales of running footwear, as well as a weak home market in sporting goods and golf, weighed on Mizuno's sales for its fiscal year ended on March 31. They declined by 3.9 percent from the previous year to 178.1 billion yen (€1.45bn-$1.62bn). Mizuno's gross profit narrowed by 2.3 percent ...
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International sales lift Under Armour
Under Armour bounced back from a difficult period, reversing its year-ago loss of $30.2 million to post net income of $22.5 million for the first quarter of 2019. Sales rose by 2 percent to $1,205 million, topping analysts' expectations. Shares surged by 9 percent after the announcement.While North American revenues ...
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Le Coq Sportif sponsors Cameroon, after improved results
After many years, taking the place of Puma, Le Coq Sportif will as of next month again become the sponsor of the national football team of Cameroon – commonly called the Indomitable Cameroon Lions – after reporting better results for the past financial year. The French brand, which also sponsors ...
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Crocs’ first-quarter revenues exceed expectations
Crocs' revenues reached $295.9 million in the first quarter ended on March 31, growing by 4.5 percent from the first quarter of 2018, or by 9 percent on a constant-currency basis, despite the negative impact of store closures and changes in the business model, which reduced revenues by around $6 ...
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Booming Champion boosts European sales structure
Champion is continuing the process of reinforcing its sales apparatus in Europe, taking advantage of a strong demand for its products all over the world. Resorting for the most part to experienced industry executives, it is now directly covering all the five major European countries, after replacing many agents with ...
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Champion grows by 80% outside the mass channel
With its more premium price positioning, Champion's global sales outside the mass channel, where they are still strong in the U.S., jumped by 80 percent in the first quarter of 2019. They went up by 75 percent in constant currencies, with double-digit increases in all the regions, according to the ...
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Brunswick sells Life Fitness to a PE firm
Unlike VF Corp., which has spun off its jeans business into a new company owned by its shareholders, Brunwick Corp. has chosen the alternative of a straight sale of its fitness division to a New York-based private equity firm, KPS Capital Partners, for about $490 million in cash, following the ...
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Nautilus moves into the red due to Bowflex
Led by weakness in the Direct segment, Nautilus' sales for the first quarter tumbled by 26.5 percent to $114.8 million. It ended the quarter with a loss.A decline in sales of the Bowflex Max Trainer product line hit the Direct segment's turnover, which fell by 34.4 percent from the same ...
