Latest Headlines – Page 204
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Good progress in Europe and China
The company's focus on key cities paid off particularly in Europe, where the growth was led by sportswear, Jordan and digital sales. The management claimed that Nike is now rated as the No. 1 brand in five of region's key cities.Digital sales grew by more than 60 percent in Greater ...
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A record Ebit margin for Adidas
The Adidas Group reported last week a 20 percent increase in net income to €1,709 million from continuing operations for 2018. Excluding losses from discontinued operations – which, as a result of last year's divestiture of Rockport, declined last year to €5 million from €254 million the year before – ...
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A weak fourth quarter
The company's sales growth had already started to decline in the fourth quarter of last year, when currency-neutral revenues rose by only 5 percent for the Adidas brand and the whole group. On the other hand, the group had experienced exceptional growth of 19 percent in the same period of ...
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Interesting regional developments
The management expects that the group will post a slight sales increase in Europe, where we understand that the Adidas brand has been losing market share to Nike, although Adidas is still very strong in countries like Germany and Italy. Sales in Europe, which represents close to 30 percent of ...
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Puma signs its biggest football contract
Starting in July, Puma will be replacing Nike as the sponsor of the victorious Manchester City football club and four others that it controls on four continents for the next ten years. The brand describes it as the largest deal of the kind that it has ever done. Reportedly, the ...
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Shankland will lead the Adidas Group’s operations
The 47-year-old Australian native, who has been with Adidas for 22 years, took the place of Gil Steyaert on the executive board of the Adidas Group at the beginning of this week to be charge of global operations. Steyart, a 56-year-old Frenchman who has been sitting on the board for ...
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A Slovenian CEO for TAF
Mateja Jesenek, a 51-year-old Slovenian native, will become the new global chief executive of The Athlete's Foot (TAF) in April, when the current CEO, Ingmar Kraak, leaves the company. Like him, she will be working out of Amsterdam.While she is being hired from outside the company, Jesenek is no stranger ...
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Foot Locker performs better
Foot Locker booked a 9.7 percent sales increase on a same-store basis in the fourth quarter ended on Feb. 2, well ahead of the financial analysts' consensus estimate of 4.6 percent. Digital sales rose by 29.7 percent, representing 19.1 percent of the retailer's total turnover. Sales increased at a double-digit ...
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Foot Locker invests in kids’ clothing
Foot Locker has made another strategic investment in an early-stage company, this time on Launch Kids, a children's apparel company based in New York City that operates under the trade name Rockets of Awesome. The $12.5 million investment—part of a Series C round of capital funding worth $19.5 million for ...
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Hervis reports stable sales, opens new stores
After recording increases in the previous two years, Hervis Sport reported stable sales of €520 million in 2018 from the previous year. The number of stores across various countries grew by 7 percent and their total sales area rose by 4 percent to 205,000 square meters. The Austrian-based sports subsidiary of ...
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Zalando regains momentum
Heavy investments in software, new systems and new distribution centers contributed to a decline in the operating margin to 3.2 percent last year from 4.8 percent, but the management expressed confidence that the margin will reach 13 percent sooner or later. It has set out an ambitious goal for the ...
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A rough ride for Ashley with Debenhams and Findel
The board of directors of Findel immediately rejected a proposed bid for all its shares made by Sports Direct International (SDI) on Monday, arguing that it significantly undervalued its online retail and education businesses. SDI, which started to invest in the British fashion retailer in 2015, had to make the ...
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Anta puts pressure on Amer’s shareholders
Changing the cards, Mascot-Bidco, the investment vehicle set up by a consortium of investors led by Anta Sports Products for the takeover of Amer Sports, has given 4 PM Finnish time tomorrow as the deadline for obtaining pledges for at least 90 percent of Amer's shares. It had previously extended ...
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Anta’s sales and profits surge
Anta accelerated its expansion in 2018 with a sales increase of 44.4 percent to 24.1 billion yuan renminbi (€3.2bn-$3.6bn), which led to an unprecedented profit for the Chinese group. The company's gross margin firmed up by 3.2 percentage points to 52.6 percent, while the operating margin inched down by 0.2 ...
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Wolverine partners with Xtep for China
Wolverine Worldwide and Xtep International, one of the major Chinese sporting goods companies, have announced agreements to set up a joint venture that will develop, market and distribute Merrell and Saucony footwear, apparel and accessories in China, Hong Kong and Macau. Some of the items will be exclusively designed and ...
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Driven by Merrell, Wolverine raises sales and margins
Thanks to efforts to reduce operating expenses, which declined by 40 percent year-on-year, Wolverine Worldwide's margins improved before exceptional items and profits soared in the fourth quarter ended on Dec. 29. The quarterly net income reached $39.3 million, compared with a loss of $60.3 million for the fourth quarter of ...
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Good growth, lower margins for Kappa’s Chinese licensee
China Dongxiang reported a 17.3 percent increase in total revenues to 1,706 million yuan renmimbi (€225.2m-$254.3m) for 2018, driven by an 18.4 percent increase in its Kappa business in China, whose revenues represented 68.8 percent of the total turnover. Kappa grew by 11.6 percent in Japan, where the Phenix brand raised ...
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Altra picks up speed in Europe
The demand for the American brand of running shoes has been picking up strongly in Europe following its acquisition in June 2014 by VF Corp., which is integrating it with its other sales and marketing operations in the region. As before, when it was owned by Icon Health & Fitness, ...
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Nike remains the most valuable apparel brand
Remaining in the N° 1 spot in the rankings of Brand Finance, the Swoosh consolidated its position last year as the most valuable brand of clothing, with its value rising by 16 percent to $32.4 billion.The consultancy said that Nike's progress had been driven by its high-impact marketing strategies at ...
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Crocs posts better-than-expected results
Led by the U.S. market and driven by its wholesale business, Crocs posted record revenues for the fourth quarter. Reaching a level of $216.0 million, they were up by 8.5 percent from the year-ago quarter, or by 11.3 percent on a constant-currency basis. This was well above the top end ...
