Latest Headlines – Page 247
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Rapala is worried about digitalization in the U.S.
Rapala VMC is reviewing its outlook for the current financial year because many big clients for its fishing tackle products in the U.S. are facing financial challenges or even closing down because of the recent accelerated development of e-commerce in the sector. The U.S. is the biggest market for the ...
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Stable sales at Accell
While studying a takeover offer worth about €845 million from Pon Holdings to form the world's largest bicycle company, the Accell Group told its shareholders at its annual general meeting earlier this week that its sales were stable in the first quarter. The owner of Batavus, Winora, Haibike, Raleigh, Diamondback, ...
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Rapha may be seriously for sale
Sky News reports that Rapha Cycling, the fashionable and functional British brand of cycling apparel, has hired William Blair, an investment bank, to ready the company for a sale. Rapha was rumored already to be gearing up for a change of ownership a few months ago, when Pinarello was sold ...
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Deckers explores a possible sale
Bowing to pressure from some of its shareholders, the board of directors of Deckers Brands announced that it was exploring strategic alternatives, including a possible sale of the company. It has retained Moelis & Company as financial advisor and a legal counsel to assist in the process.The announcement was made ...
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GoPro claims turnaround is on track
GoPro posted a huge net loss of $111,150,000 for the first quarter. It was even bigger than the huge loss of $107,459,000 of the year-ago period. Excluding restructuring costs and other extraordinary items, it was down to $62,783,000 from a loss of $86,740,000, and Nicholas Woodman, founder and chief executive, ...
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Sympatex and Gore fight it out in the courts
Sympatex Technologies and W.L. Gore & Associates have both obtained temporary injuctions against each other in two German courts over the last few days about the use of erfluorinated and polyfluorinated chemicals (PFCs).Sympatex first announced in a press release earlier this week that it had managed to get a ...
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European Parliament acts on geo-blocking
A committee of the European Parliament has put forward a draft proposal on “unjustified geo-blocking,” setting out specific situations under which online retailers should be prevented from adjusting their prices and other conditions from one member country of the European Union to another. The European Commission had previously publicized its ...
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JD thrives on athleisure, expansion and astute retailing
Avid demand for sneakers, multiple store openings and acquisitions helped JD Sports Fashion to deliver bumper results again for the full year to Jan. 28, with a 31 percent increase in sales to £2,378.7 million (€2,806.7m-$2,978.6m) and even sharper rises in profits.The outdoor division turned profitable and the entire group's profit ...
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Sports Direct buys into U.S. retailers
Sports Direct International (SDI) has obtained court approval to take over assets of Eastern Outfitters, a U.S. outdoor retailer that filed for Chapter 11. The retailer had 86 stores trading as Bob's Stores and Eastern Mountain Sports but the assets to be acquired by SDI include about 50 outlets.SDI said ...
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Netshoes IPO values online retailer at $558.5 million
Netshoes, the leading online sports retailer in Latin America, closed an initial public offering (IPO) on the New York Stock Exchange that started last week and raised net proceeds of $138.8 million.NETS shares were priced at $18.0, at the lowest end of the initial range, valuing the retailer at about ...
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Intersport France gains market share
Reducing its gap with Decathlon, the French voluntary group raised its retail sales last year by 6.9 percent, reaching a level of about €1.8 billion including VAT. On a comparable store basis, they grew by 3.3 percent, roughly in line with the estimated growth of the French sporting goods market.For ...
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IIC adjusts management team to strategic priorities
Three new members have joined the executive management team of Intersport International Corp. (IIC) from the start of April to accompany the buying group's plans in omni-channel retailing, to implement adjustments in its multi-specialty retail format and to support development in Asia.These priorities were identified by IIC as it evaluated ...
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New tasks for ICC’s former boss
Franz Julen, the sporting goods industry veteran who left as chief executive of Intersport International Corp. at the end of last year, has officially retired after 16 years at its helm, but he continues to be active professionally by holding several new board positions.Banking on his experience in retailing, he ...
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Internetstores’ owner buys Probikeshop
The owner of Internetstores, the online retailer specializing in outdoor and cycling products, is expanding with the full acquisition of Probikeshop, a French company that describes itself as the leading online retailer of cycling gear in France and southern Europe. Internetstores itself was taken over last year by Signa Holding, the ...
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Pon bids for Accell to form bicycle giant
The Accell Group confirmed last week that it was holding talks with Pon Holdings, after Pon issued a conditional bid for the acquisition of Accell. The tie-up between the two Dutch conglomerates would form a global market leader with annual bicycle sales of about 2.3 million units worth €1.7 billion.Pon ...
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Tecnica is due to get a new financial boost
Confirming press reports, the Tecnica Group says that an Italian investment fund, Italmobiliare, is in due diligence proceedings for the acquisition of a minority stake in the company. The transaction should be closed in the summer. The Zanatta family will remain in control of the group, whose brands include Blizzard, ...
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New owners for Active Brands
Active Brands, the Norwegian group that owns Kari Traa, Dæhlie and several other sports and outdoor brands, is to be taken over by FSN Capital Partners, a Nordic investment fund, although existing shareholders should continue to own a material stake in the company.The majority shareholding is to be divested by ...
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Puma upgrades forecast, reshuffles its board
After a buoyant first quarter, and with improved prospects, Puma upgraded its forecast for sales and operating earnings for the full financial year. Two weeks ahead of the scheduled release of its quarterly performance, the company said that its full-year sales should increase at a low double-digit rate in constant ...
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Puma invests in German football
Just a few days after its agreement to outfit Olympique de Marseille from July 2018, Puma announced a new partnership with Borussia Mönchengladbach, to become its official technical supplier from the same season.The company will supply the licensed team as well as the club's youth teams with jerseys, training apparel ...
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Skechers' revenues pass the $1 billion mark
Skechers USA posted strong results for the first three months of the year, thanks to double-digit growth in its international business. Its total sales hit a new quarterly record of $1,073 million, which represents an increase of 9.6 percent over the first quarter of 2016. Its net earnings dipped by ...
