Latest Headlines – Page 213
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Fitbit’s shares soar after unexpected profit
Fitbit has created a surprise in the market by reporting an adjusted net profit for its third quarter, led by strong sales of its smartwatches, sending the price of its shares up by nearly 9 percent. Revenues inched up by 0.3 percent to $393.6 million, also topping Wall Street estimates.The ...
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Garmin posts strong results
Garmin posted strong results for the third quarter, with double-digit revenue growth in four of its five segments and double-digit growth in consolidated operating income.Total revenues were up by 8 percent to $810 million, with marine, aviation, fitness and outdoor collectively growing by 16 percent from the year-ago quarter and ...
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GoPro expects to return to profits
Thanks to a strong reception for its new Hero7 Black action camera, GoPro managed to narrow its net loss from $37.3 million for the second quarter of this year to $27 million for the third quarter. This led the management to say that it expects to achieve profitability in the ...
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Nautilus posts mixed results
Fueled by double-digit growth in the retail segment, Nautilus' sales for the third quarter advanced by 3.3 percent to $91.1 million. However, the group's profitability declined significantly from the year-ago quarter.Sales the retail segment jumped by 14.9 percent to $39.2 million, with double-digit growth in both the mass retail channel ...
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Ispo Munich expands again
Ispo Munich will reach a high watermark of 200,000 square meters on Feb. 3-6, adding a further two halls – C5 and C6 – from last year's total of 16. The show is making plenty of room for meetings and networking.For 2019, the themes are “Health, Physical Activity and Sport,” ...
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The Fedas key becomes clearer
To allow more detailed POS data analysis and to support the new requirements of e-commerce, some important improvements have been made to the Fedas product classification key by SGI-DHO, the association that manages these important tools for data exchanges between vendors and retailers. The association recently changed management (see our ...
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Pentland unveils new charity partners, all chosen by its staff
Pentland Brands has announced five new partnerships with charity organizations, based in both the U.K. and abroad, which will last until 2021. Pentland Brands is the name behind Speedo, Berghaus, Ellesse, Kickers and other well-known sports, outdoor and fashion brands. The new charities were all chosen by Pentland's employees, based ...
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A new CEO for Intersport International
Victor Duran, the forward-looking executive who replaced Franz Julen at the helm of Intersport International Corp. (IIC) at the beginning of 2017, has stepped down as chief executive of the international retail organization with immediate effect. IIC's board has appointed a 52-year-old Dutch executive, Steve Evers, to take his place ...
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XXL names Bjerknes as CEO after a poor quarter
XXL ASA announced a major change of leadership after publishing relatively weak results for the third quarter. As of Dec. 1st, Ulf Bjerknes will become the new chief executive of the leading Nordic sporting goods retailer, replacing Hans Fredrik Steenbuch.Bjerknes was the CEO of the Swix Sport group between 2008 ...
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Go Sport sells Courir
Many full-line sporting goods retailers are opening lifestyle sneaker shops to cater to the growing athleisure trend in the market, but the French Rallye group is gearing up to sell Courir, its profitable and fast-growing chain of lifestyle-oriented sports stores, to a British equity investment fund, Equistone Partners Europe.The Courir ...
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Online growth and squeezed margins for Footasylum
Footasylum, the British sneaker-focused retailer, saw Ebitda swing into negative territory with a loss of £1.5 million (€1.7m-$2.0m) for the 26 weeks ended on Aug. 25 from a profit of £4.4 million in the year-ago period, in spite a 19 percent sales increase to £98.6 million (€112.1m-$128.4m).The company blamed the ...
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New Balance names Joe Preston as its new president and CEO
New Balance has announced that Rob DeMartini, who has been at the helm as president and chief executive during the last 12 years, will step down, effective Dec. 31. He will be replaced by Joe Preston, a veteran with 23 years of experience at New Balance.Under DeMartini's leadership, New Balance ...
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Puma’s apparel sales take off
Puma has slightly upgraded its forecast for sales and operating profit in the full year, after a buoyant third quarter that was marked by the acceleration of apparel sales.The company raised its turnover by 10.7 percent to €1,241.7 million for the three months, up by 13.9 percent in constant currencies, ...
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Puma unveils a platform to help drive social change
Puma has launched #Reform, a new platform for activists from sports, music and entertainment to champion causes and encourage conversations around civil rights issues. The sports brand said that the idea of the platform was inspired by Tommie Smith's famous “Silent Gesture” at the 1968 Olympics in Mexico City, with ...
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Under Armour’s transformation plan starts bearing fruit
Under Armour's restructuring measures have helped the group post better results for the third quarter, including a slightly higher gross margin and a significant sales rise in markets outside the U.S.The company has identified further cutbacks and investments, which should raise restructuring and related charges to between $200 million and ...
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American Golf is rescued by Endless
Endless, a mid-market private equity investor, has completed the acquisition of American Golf, immediately after the specialist golf retailer had fallen into administration, a procedure under the British legislation which is similar to bankruptcy in the U.S. American Golf had appointed Deloitte to find a buyer in early October. The ...
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Golf participation in Europe is generally stable
In 2017, the number of registered golfers and golf courses in operation in Europe did not show any significant variation overall as compared to 2016, although some countries did register some noticeable change. The vast majority (76%) of the local golf associations said that the level of participation in their ...
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Winter starts off favorably for Amer Sports
The acquisition of Peak Performance and robust sales of winter sports equipment have driven another sales rise for the Amer Sports group in the third quarter, but the Finnish company has set in motion the sale of its cycling business and declined last week to provide any updates on a ...
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Brunswick makes big changes at the top
Brunswick Corporation has hired Jason Worthy as president of its fitness division. He is replacing Jaime Irick, who has stepped down from his dual post as the division's president and vice president. The change in management comes at a time when the fitness division is looking for growth while it ...
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Callaway raises guidance after record results
Callaway Golf Company posted stellar results for the third quarter, after a very strong first half. In particular, revenues soared by 8 percent from the year-ago quarter to a record of $263 million. The company also significantly improved its profitability, with adjusted Ebitda soaring by 30.7 percent to $17million.The good ...
