Latest Headlines – Page 248
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German court supports price comparison engines
In the latest ruling relating to selective distribution, the higher regional court of Düsseldorf supported an earlier decision by the German anti-trust authority that Asics should not be allowed to demand that its retail partners refrain from using online price comparison engines to sell their products.The German competition authority, the ...
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Nike doubles down on product innovation and consumer connections
The Nike group wants to double the speed of its supply chain and innovation while doubling its direct connections with consumers, the company told investors on a call about its results for the three months until the end of February.As reported below, the Nike group's sales rise for the third ...
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Mixed performance for Nike in its Q2
Robust European demand contributed to a sales increase of 5 percent to $8,432 million for the Nike group in the three months to the end of February, which were affected by the somewhat chaotic retail situation in the U.S. market. The group's gross margin dipped by 1.4 percentage points to ...
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Adidas eyes €5 billion in North American sales by 2020
The Adidas Group is targeting annual sales of €5 billion in North America by 2020, a jump of nearly 50 percent compared with a turnover of €3.4 billion for the Adidas and Reebok brands last year.The target was outlined at an Investor Day held by the Adidas Group in Herzogenaurach ...
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Digital and international will lead VF’s growth
VF Corp. is projecting a compound annual growth rate (CAGR) in its total sales of between 4 and 6 percent over the next five years, driven by continued growth at Vans and th e resumption of growth at The North Face and Timberland, which have under-performed lately, especially in the ...
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Smith replaces Arens to lead The North Face in Europe
Kath Smith has been appointed vice president and general manager for The North Face in Europe, the Middle East and Africa (EMEA) from the end of March, at the company's European head office in Switzerland. After assignments with international consumer goods companies such as Mars, Diageo and the Adidas Group, ...
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Lower sales and losses, new recruits for SportScheck
The leading German sporting goods retailer has announced the appointment of a new buying director who comes from Zalando. Anna Westhoff, 34, will join SportScheck on June 1 to head up all purchasing functions for its online and offline operations, including its private labels. She replaces Robert Stiefel, who will ...
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Potential Iberian sports retail partners are growing fast
The tie-up between JD Sprinter and Sport Zone to form the second-largest Iberian sports retailer, which we reported about in the previous issue of SGI Europe, comes at a time of continued expansion for both retailers in the region.JD Sprinter, which is owned at a majority by JD Sports Fashion, ...
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Go Sport gains ground
Groupe Go Sport generated consolidated sales of €749 million last year, which was an increase of 3.5 percent in comparable store sales and constant currencies, as reported by the owner of the French-based sporting goods retailer, the Rallye group. The reported sales imply an increase of 10.1 percent compared with ...
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Intersport’s Greek partner expands cautiously
Fourlis, the Greek holding company that runs 121 Intersport and The Athlete's Foot stores in Greece, Turkey and several other countries, raised the sales of its sporting goods segment by 5.6 percent €136.5 million last year, albeit with a drop in pre-tax profit. The sporting goods retail business delivered operating ...
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Amer buys Armada
Amer Sports has acquired selected assets of the American ski equipment and apparel company, Armada, including its iconic brand, its intellectual property and the distribution rights, for a total price of $4.1 million. The price comprises $2.5 million in cash and the writeoff of outstanding liabilities stemming from the contract ...
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Canada Goose goes through the roof
Investors rushed to buy shares in the Canadian company, although some observers have expressed doubts about its ability to internationalize its business and to diversify its product range in the longer term. First offered at a price of 17 Canadian dollars on March 16 on the stock exchanges of Toronto ...
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Lululemon raises questions among investors
Lululemon Athletica's net earnings for the quarter ended Jan. 29, 2017 went up by 15.9 percent to $136.1 million, but they fell below analysts' expectations, weighed down by currency effects due to a stronger-than-expected Canadian dollar. In the biggest one-day drop in eight years, the Canadian company's shares tumbled by ...
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Puma gets the Marseille football deal
Puma has confirmed that it signed a five-year endorsement deal with Olympique de Marseille (OM), one of the most popular French football clubs, starting from the beginning of July 2018 and putting an end to the club's long partnership with Adidas. L'Equipe reported that the German company would be paying ...
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Global team built up for Beachbody
Distributors have been appointed to start selling Beachbody apparel and footwear in the U.K. and German-speaking countries from the FW17 season, as part of the global roll-out orchestrated by Global Brand Partners (GBP).As previously reported, GBP obtained a global apparel and footwear license for Beachbody, which boasts sales of about ...
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Golf club sales boost Acushnet’s results
Strong sales of Titlest golf clubs boosted Acushnet's revenues for the fourth quarter of 2016, despite the negative impact of the bankruptcy and liquidation of Golfsmith and other less specialized sporting goods retailers in the U.S. The company's club sales increased by 3.0 percent over the year-ago quarter to $329.8 ...
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Yue Yuen's net jumps by 37%
Yue Yuen Industrial posted strong results for 2016, with profit attributable to owners of the company increasing by 37.0 percent to $534.6 million. Adjusted to eliminate non-recurring items, net earnings went up by 29.5 percent to $525.1 million for the year.The group said it has been putting more strategic emphasis ...
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Li Ning builds a more profitable retail business
The many reforms implemented by Li Ning Company in the recent years are apparently starting to pay off, as the company is reporting an increase in comparable store sales and improved sell-out of new products last year.Li Ning raised its turnover by 13.1 percent to 8,015.3 million yuan renminbi (€1,082.3m-$1,163.2m) last ...
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361 Degrees culls stores, raises sales
Nearly 12 percent of 361 Degrees stores in China were shuttered last year, yet the group managed to raise its sales by 12.6 percent to 5,022.7 million yuan renminbi (€677.5m-$729.0m).The Chinese group's gross profit margin was up by 1.1 percentage point to 42.0 percent for the year, but the company ...
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Xtep restructures to upgrade its offering and retail business
Xtep saw relatively sluggish sales growth last year as it restructured its business to focus more strongly on functional products and profitable distribution, but the benefits already transpired in the gross margin and profit before one-off items.The Chinese group's sales were up by 1.9 percent to 5,396.6 million yuan renminbi (€728.3m-$783.3m) ...
