Latest Headlines – Page 233
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Hi-Tec’s integration leads Cherokee to a loss
Cherokee Global Brands, the American owner of the Hi-Tec, Tony Hawk and other brands, has lowered its financial projections, citing the difficult retail climate in the U.S. as well as Canada, where Sears has gone bankrupt.The challenging retail climate is affecting Hi-Tec as it is transitioning to a new licensing ...
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Burton announces its sustainability goals
The surf and snowboard brand has unveiled its sustainable development goals for 2020. These revolve around the three areas: products, playground and people. In the area of products, Burton is aiming at 100 percent bluesign-approved softgoods by 2020. Burton softgoods will only contain sustainable cotton, and will use less water ...
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Vaude, Pontetorto and the EOG tackle microfiber pollution
Biopile, a bio-degradable fleece fabric developed in partnership between Pontetorto and Vaude, has received the Performance Award for innovation in textiles at the Performance Days held in Munich last month. Vaude says that the fleece fabric with a brushed back manufactured by the Italian fabrics specialist is the first to ...
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VF Corp. launches a new sustainability and CSR strategy
The owner of The North Face, Timberland and other brands has announced its new global sustainability and responsibility strategy, called “Made for Change.” The strategy was announced in conjunction with VF's Sustainability and Responsibility Performance Report, on Dec. 11. The new strategy commits VF Corp. to reduce its global environmental ...
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Intersport rolls out its new “multi-specialty” store concept
Intersport's strategy to reposition itself from a multi-category retailer to a more modern “multi-specialty” retailer is rapidly taking shape, as more than a dozen Intersport stores in Europe and China have adopted the international buying and franchising group's upgraded store concept, while its international integrated online platform has gone live ...
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Intersport's central online retailing platform goes live
While Intersport's retail partners started piloting its updated store concept (see the article in this issue), Intersport International Corporation (IIC) has been making rapid strides with its international digital retailing platform, which went live in the last few days in Denmark and the Netherlands.The platform was launched by IIC's digital ...
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SGN Group forms the second-largest Swedish retail group
SGN Group of Finland has acquired the second half of the shares it didn't own in Sportringen, a Swedish buying group. The company's management is to be integrated with Team Sportia, another buying group that was already owned by SGN Group, to form a Swedish sports retail group with about ...
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Foot Locker copes with the digitalization of the retail sector
Foot Locker is taking strong action to resolve the problems that led it to report poor figures earlier this year, especially in the rapidly changing U.S. market. Investors rewarded the retailer by raising its stock market price by more than 28 percent after hearing about its new plans in connection ...
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World Cup qualifiers favor Adidas and Nike
Adidas has taken an early lead in the World Cup, at least in terms of the number of teams to be outfitted by the German brand, after the last qualifications for the finals were played last week.With eleven teams to wear the Three stripes, Adidas is slightly ahead of Nike ...
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Grupo SBF prepares IPO
Centauro, the largest sporting goods retailer in Latin America, could get extra funds for its expansion as its owner, Grupo SBF, has requested authorization from the Brazilian securities regulator for an initial public offering (IPO).Centauro is a multi-sport retailer with 187 stores, plus a very active web store. Based in ...
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Olympikus’ parent returns to the stock market
After a spectacular reorganization and recovery over the past few years, Vulcabras Azaleia is going public again, pricing the 68,420,000 shares offered at 9.50 reais each in order to raise net proceeds of R$550 million (€143.8m-$168.8m). The total proceeds may increase by R$71.8 million (€18.8m-$22.0m) if an over-allotment option for a ...
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Mixed results for Alpargatas
Alpargatas, the Brazilian company that owns Havaianas and licenses Mizuno, reports that its performance has started recovering compared with the first half of the year, but the Brazilian group's turnover and net profit in the third quarter remained below the year-ago period.The group's sales tumbled by 3.2 percent to 951.1 ...
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Netshoes shows improvement
The world's biggest pure e-commerce player in the sporting goods sector remained in the red in the third quarter and the first nine months of this year. It reported net losses of 30.3 million Brazilian reais (€7.9m-$9.3m) for the latest quarter and of R$120.6 million (€31.4m-$37.0m) for the nine months. Excluding extraordinary ...
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Amazon launches private label activewear
Amazon has gone ahead with the launch of its private labels for sports products, with three brands at three distinct price points – at least one of them at price levels in the same range as some of the international brands sold by the online retailer.The three brands include Goodsport ...
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Alibaba breaks new records
Alibaba hit a new record with its Singles Day shopping festival on Nov. 11, generating sales of $25.3 billion, 40 percent above the score reached a year ago. The event is a much bigger replica of the Black Friday and Cyber Monday promotions that are becoming common in the Western ...
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Zalando posts a loss as sales rocket, investments continue
Zalando recorded a net loss of €11.1 million for the third quarter, compared with net income of €5 million for the year-ago quarter. The adjusted operating profit (Ebit) before non-operating one-time effects fell to €400,000 from €19.5 million.The company had warned last month that it might post a loss in ...
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New management for Germany’s 21sportsgroup
Henner Schwarz has taken the helm at 21sportsgroup, a German sports retailer that operates both online and physical stores. The promotion came after the founding team of the online platform, Joerg Mayer and Michael Burk, resigned at their own request, citing their desire to undertake new businesses opportunities. Mayer was ...
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Bid by Karstadt’s owner to bag rival Kaufhof
Hudson's Bay Company (HBC), the owner of Galeria Kaufhof department stores in Germany, has reacted with circumspection to a bid reportedly worth about €3 billion from Signa. The Austrian group already owns Karstadt, the leading competitor for Kaufhof, and both department store groups are significant players in the German sports ...
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Accell restructures in North America
The disruption of the U.S. sporting goods retail landscape, which is also affecting Dorel Sports (see the related article in this issue), has led the Dutch-based cycling group to scale down its exposure to the multi-sport channel in North America as the company goes under the management of a new ...
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A weak quarter for Dorel Sports
Dorel Sports posted a disappointing quarter, with revenues for the three months ended Sept. 30 tumbling by 18 percent from the year-ago quarter to $45.2 million. Organic revenues fell by 19 percent when ignoring currency fluctuations.The company blamed this performance on the continued weakness in the global bicycle market, especially ...
