Latest Headlines – Page 234
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Halford's bike sales go up, margins decline
Halfords' shares dropped by 2.4 percent after the British retailer posted underlying pre-tax earnings for its first half-year that were off by 9.8 per cent from the year-ago period to £36.8 million (€41.1m-$48.4m), weighed down by currency headwinds. The company estimates that it incurred an extra cost of sales of ...
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An improved U.S. golf market helps Acushnet
Acushnet's sales advanced by 2.3 percent in the third quarter to $347 million, driven primarily by the launch of the company's new Titleist 718 golf irons and 818 hybrids. On a constant-currency basis, sales were up by 2.9 percent. The company's management said it was particularly encouraged this quarter by ...
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Acushnet helps Fila to improve margins
The consolidation since late last year of Acushnet, a company in which it now owns 53 percent of the shares, led Fila Korea to book a huge increase in revenues to 569.2 billion Korean won (€440.2m-$519.0m) in the third quarter from KRW 175.5 billion in the year-ago period. It also helped ...
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Lower margins in Brunswick’s fitness segment
The operating margin of Brunswick Corporation's fitness division, which is led by Life Fitness, fell to 8.0 percent in the third quarter ended Sept. 30 from 12.2 percent in the same period a year ago. It remained depressed also for the first nine months of the year, down to 7.7 ...
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Nautilus lowers full-year outlook, shares tumble
Nautilus' revenues gained 9 percent to $278.4 million in the third quarter. The Retail segment saw sales grow by 15.8 percent to $53.5 million, reflecting strong seasonal sell-in with key traditional and e-commerce partners, partially offset by weakness in specialty and commercial customers. The gross margin in this segment advanced ...
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Better results for Crocs
Although Crocs' revenues for the third quarter were off by 1.1 percent from the year-ago quarter, down to $243.3 million, they were above the top end of the company's revenue guidance, exceeding analysts' expectations. Income from operations improved to $2.7 million, as compared to last year's loss of $1.2 million.The ...
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Oberalp pulls out of the Ispo show
Repeating what it had done at the OutDoor show in Friedrichshafen last June, the Italian Oberalp group has confirmed its decision to stop exhibiting the ranges of its Salewa and Dynafit brands at the Ispo Munich show, investing instead in a big international sales meeting. Like Amer Sports, which is ...
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Paradise Papers show Nike paid less than 3% tax on European sales
Placing the spotlight on Apple, Nike, Whirlpool and other multinational companies, the International Consortium of Investigative Journalists (ICIJ) has discovered that they have been able to avoid paying some €60 billion worth taxes on revenues generated in Europe by using a variety of tax loopholes and tax havens.Going through millions ...
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Adidas outperforms in North America
The Adidas Group's expansion has been hampered by weakening retail trends in Europe and infrastructure bottlenecks in North America in the third quarter, leading to a sales increase at the lower end of its projection, but the company still delivered ample rises in sales and profits.The German group's turnover jumped ...
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Adidas appoints three European country managers
After the reshuffle implemented in the Adidas Group's European management structure nearly two months ago, the company has appointed three of its own staff as country managers in France, Iberia and Italy.Nicolas Favre has taken over at the start of this month as country manager in France. He joined the ...
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Asics Europe rejigs European management
Asics Europe is making rapid strides with its strategy to transform its distribution and retail business, which has led to a string of management changes to reinforce its focus on key accounts.The overhaul of the European sales organization transpired after the Japanese running specialist reported a sales decline of 6.6 ...
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Mizuno's results are hit by weak U.S. sales
Sluggish sales in the Americas and the weaker pound caused Mizuno's revenues to decline by 1.5 percent to 91.8 billion yen (€694.8m-$808.9m) in its second fiscal quarter, ended Sept. 30.Despite the lower revenues, the company's gross margin rose by 3 percentage points to 41.0 percent, partly due to lower purchase ...
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VF buys Icebreaker
VF Corp. has announced a definitive agreement for the takeover of Icebreaker Holdings, the merino wool apparel specialist from New Zealand. The transaction should be completed early next year. The price of the acquisition has not been disclosed, but VF said that it will be immediately accretive.Icebreaker will nicely complement ...
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Invista sells apparel & advanced textiles business
Invista has entered into a definitive agreement with Shandong Ruyi Investment Holding, a Chinese textile group, to sell Invista's apparel & advanced textiles business, one of Invista's four major business units. The transaction includes well-known brands such as Lycra and Coolmax, among others, while it does not include Cordura, which ...
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Vista will divest its eyewear brands
Vista Outdoor's new chief executive, Chris Metz, announced plans to sell its three brands of sports eyewear – Bollé, Cébé and Serengeti – as part of a review of its brand portfolio that is about to be completed, while the company released a pretty bad set of figures for the ...
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Pentland reorganizes for efficiencies and possible acquisitions
Pentland Brands is rationalizing the management of its various brands in the U.K. by closing two offices in Stockport and Wakefield, which currently host the operations of its two team sports brands, Canterbury and Mitre, respectively. These operations are set to be moved to Speedo's existing international headquarters in Nottingham ...
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Strong growth for Champion internationally
Hanesbrands made a good move in June last year by acquiring Champion Europe, after taking back the licensing rights for the Champion brand in Japan from Goldwin. Sales increases for the brand of 7 percent in Europe and 20 percent in Asia helped the group to book a 16 percent ...
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Canada Goose pulls off stellar results
Canada Goose raised its guidance following a strong performance in both the direct-to-consumer (DTC) and wholesale channels for its second fiscal quarter ended Sept. 30. Shares in the company jumped by 14.1 percent after the release of the results, which topped Wall Street's expectations by a significant margin.Sales climbed by ...
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Better margins for Peak Performance
Peak Performance improved its operating margin by three percentage points to 20.8 percent during the first quarter ended Sept. 30, as compared to the same period a year ago, according to its parent company IC Group, thanks mainly to higher average selling prices and higher gross margins.The brand's sales were flat ...
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Wolverine raises guidance after better-than-expected results
Wolverine Worldwide reported a drop in revenues of 3.7 percent to $581.3 million for the 13 weeks to Sept. 30. Adjusted revenues, which take into account an extra week added through a change in the financial calendar, were down by 8.0 percent. The year-ago quarter had 12 weeks and ended ...
