Latest Headlines – Page 262
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Li Ning recovers from last year’s losses
The Li Ning group saw revenues for the six months ended June 30 gain 13.0 percent on the corresponding period last year, reaching 3,596 million yuan renmimbi (€481.0m-$542.2m). It reported a first half profit of RMB113.4 million (€151.7m-$17.1m), significantly better than the RMB29.4 million losses of a year earlier.The improvements ...
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Leadership changes at Timberland, Smartwool and Vans
VF Corp. has announced several executive changes at some of its outdoor brands. At Timberland, Jim Pisani has been named the brand's new global president, effective Aug. 8. He replaces Stewart Whitney, who left the company in July after less than two years on the job. Since 2008, Pisani has ...
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Power play between Nike and Hummel
Last May 26, the District Court of Hamburg issued a preliminary injunction against Nike, asking the brand to withdraw four styles of Flyknit shoes from the market because they carry a series of distinctive chevrons in the back of the ankle that look very similar to those of Hummel's so-called ...
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BasicNet invests strongly in marketing, posts lower earnings
BasicNet, the parent company of Kappa, K-Way, Superga and other brands, reported aggregate sales of €360.2 million for the first half ended June 30, down from €372.4 in the first half of last year. Aggregate licensees' sales in the period were affected by the general political instability, which negatively impacted ...
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Crocs sells more but fall short of guidance
Crocs posted revenues for the second quarter that came up short of its own guidance for sales in the range of $340 million to $350 million. They dipped by 6.3 percent over the year-ago quarter to $323.8 million, or by 6.2 percent on a constant-currency basis.The company blamed the challenging ...
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Another poor quarter for Black Diamond
Black Diamond saw profits and margins dive further in the second quarter, as the company faced foreign exchange challenges and higher manufacturing costs. The American maker of climbing gear and apparel posted revenues from continuing operations down by 3.0 percent over the year-ago quarter to $29.1 million. Excluding the impact ...
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Brunswick further expands its fitness portfolio
Brunswick Corp. has announced an agreement to acquire the Indoor Cycling Group (ICG), a German company that specializes in the design of indoor cycling equipment. The terms of the transaction were not disclosed. ICG has exclusive rights to the Wattrate Power Meter, a power meter for the fitness market, as ...
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Octane continues to power Nautilus
Nautilus' revenues soared by 32.0 percent to $78.5 million in the second quarter of the year, driven by its recent purchase of Octane Fitness, a complementary firm in the fitness equipment sector. The retail business was the shining star, with sales up by 19.0 percent organically and by 89.0 percent ...
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PSG blows a deadline
Performance Sports Group (PSG) said it has hired a law firm to vet its annual financial statements for the fiscal year ended May 31, a decision that caused the company to miss an Aug. 15 regulatory filing deadline, and put it in danger of defaulting on its loans. An industry ...
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Newell’s Jarden integration on track
During the second quarter, organic sales went up by 0.5 percent in the outdoor solutions segment of Newell Brands, most of which formerly belonged to Jarden Corp. Higher sales at Pure Fishing offset weather-related declines at winter sports brands such as K2, Völkl and Marker.Last year's acquisitions of Jostens by ...
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Acquisitions help Vista Outdoor
Vista Outdoor reported a 23 percent sales increase to $630 million in its second quarter ended July 3, boosted by its new acquisitions of Bell, Giro, Jimmy Styks and CamelBak during the past year. The figure includes $134 million from recent acquisitions. On an organic basis prior to those acquisitions, ...
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Impairment charges hit Johnson Outdoors
Johnson Outdoors posted weak results for its fiscal third quarter ended July 1, with profits tumbling against the year-ago period due to non-cash goodwill impairment charges of $6.2 million for the Diving segment. Net income plummeted by 31.5 percent to $6.8 million.These charges were triggered by the company's decision to ...
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Dorel Sports restructures after lower sales
Dorel Sports has announced various measures for the current quarter in reaction to a drop in revenues during the second one. All restructuring actions will result in around 4 percent reduction in Dorel Sports' global workforce, with anticipated annualized savings of $5.0 million starting next year.Among other measures, sales of GT ...
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Fitbit continues its strong growth story
After posting growth of 92.0 percent in the first quarter, Fitbit continued on its strong trajectory with results for the second quarter that surpassed Wall Street's estimates. Sales soared by 46.0 percent to $586.5 million as compared to a year ago, while analysts were looking for sales of $578 million ...
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Yue Yuen improves margins
Revenues were up barely by 0.8 percent at $2.28 billion for Yue Yuen Industrial in the first half ended June 30. Excluding extraordinary items, the operating profit rose by 11.9 percent to $233.7 million and net earnings grew by 18.3 percent to $2,248.7 million. Comprehensive net income increased by 10 ...
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Alpargatas' sporting goods business shrinks, rubber sandals explode
Strong sales under the Havaianas brand in Brazil helped Alpargatas to raise its total revenues by 8.4 percent to 1,010 million reals (€281.0m-$316.9m) for the quarter ended June 30. Domestic sales were up by 18.5 percent over the year-ago quarter to R$570.5 million (€158.9m-$179.0m), despite a backdrop of low consumption ...
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Brooks takes over in Spain, too.
Brooks Running has set up a new Spanish subsidiary in the Barcelona Moda Centre, after working for several years with a sales agency, Sigma Sport. The new Spanish operation, which also covers Portugal, will be run by Dan Rickfelder, who has been with Brooks for almost two decades. He was ...
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Sport 2000 grows by 6%, expands to other countries
Sport 2000 International reports an 8 percent increase on a comparable basis in the retail turnover of its affiliated retailers all over Europe in 2015. The growth rate was higher in absolute terms as big national retail organizations in Italy, Finland and Sweden joined the group in the course of ...
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Fast-growing XXL has plans in Austria
XXL ASA, the Norwegian sporting goods retailer, will soon move into Austria, a market where the weather can get very cold and where Sports Direct International has been having problems with its acquisition of Sport Eybl & Sports Experts.The company, which own stores in Norway, Sweden and Finland, said it ...
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Parliamentary report slams SDI’s working practices
Sports Direct International (SDI) has been lambasted for allegedly “appalling” working conditions and practices at its warehouse in Shirebrook and in its stores, as part of a report by a British parliamentary committee. The select committee for Business Innovation and Skills (BIS), whose investigation included a much-publicized hearing of Mike ...
