Latest Headlines – Page 278
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Sports Direct’s performance disappoints some investors
Sports Direct International (SDI) was under pressure this week as its results for the first half of its fiscal year disappointed some investors. The company had to impair goodwill for its under performing Austrian stores, and it is facing yet more allegations over work practices at its huge warehouse.The turnover ...
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Sports Direct takes flak on governance and working conditions
While investors were underwhelmed by the performance of Sports Direct International (SDI) for the first half of its fiscal year, the company faced yet more criticism over working conditions at its warehouse in Shirebrook. Growing concerns about governance and employee relations have probably contributed to a decrease of more than ...
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New chief executive at Stadium
Karl Eklöf, previously in charge of expansion at Stadium, has formally taken over as chief executive of the Swedish sports retailer from the start of December. He replaces Gustav Öhrn, who left Stadium in September after seven years at the helm.Given his long-time involvement in the company, Karl Eklöf is ...
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Rider quits Karstadt
Simon Rider is no longer acting as chief executive of Karstadt Sports. A notice on Linkedin says his role has ended following the completion of a “carve out” process, developing an organizational team and delivering the operational vision for the company.Rider, who is British, was placed at the helm of ...
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Sportia buys half of Sportringen
SGN Sportia, the Finnish buying group that acquired a majority stake in Team Sportia last year, has bought half of the shares in another Swedish buying group, Sportringen, which has about 150 relatively small and independent stores in Sweden. While the three buying groups are meant to be run independently ...
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Intersport Germany to lift the share of own brands
Intersport Germany, the largest sporting goods retailer in the country,said it managed a sales increase of 2 percent for the present calendar year as of Dec. 7, when its executive board held its usual annual meeting with the press in Frankfurt. More precise figures for the group's financial year through ...
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Jarden merges into Newell Brands
Newell Rubbermaid, the parent company of many consumer brands including Rubbermaid, Parker and Waterman, will acquire Jarden Corporation at about $60 a share, including $21 in cash and the balance in shares, and take over its debt of $5.2 billion. The purchase price is 25 percent higher than Jarden's share ...
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Adidas tries to deal with margin pressure
As labor costs are seen rising at a compound annual rate of 13 to 15 percent, and material costs by between one and four percent a year through 2020, the Adidas Group has told investors that it is rearranging its sourcing strategy, while adjusting its product mix and planning significant ...
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An upbeat Herbert Hainer will stay until end of contract
Herbert Hainer, chief executive of the Adidas Group, said at a news agency briefing in Herzogenaurach earlier this month that he would stay in his job until the end of his contract in March 2017, and shared his upbeat mood about next year's prospects for the company.The group's board said ...
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Sponsors demand independent oversight at Fifa
Adidas is one of the five sponsors who have written an open letter to Fifa's executive committee, demanding “independent oversight” of any reforms at the embattled global football organization. It was also signed by Coca-Cola, Visa, McDonald's and AB Inbev, makers of Budweiser beer. Herbert Hainer, chief executive of the ...
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Rossignol diversifies, trades up in apparel
Rossignol is determined to make a strong statement in the broader functional apparel sector, in the wake of successful brands such as Kjus and Moncler. It will come out with three lines of clothing for the autumn/winter 2016/17 season for sale in sports and fashion stores as well as in ...
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Rossignol in talks to buy a high-end cycling brand, Time
The Rossignol Group is in exclusive talks for the acquisition of Time Sport International, an upmarket French sports bicycle supplier with a turnover of about €12 million, the French ski company announced earlier this month. Rossignol has been searching for ways to expand into summer sports equipment category for about ...
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Rossignol is launching connected skiing
Rossignol is unveiling a new app and tool for connected skiing, developed in partnership with PIQ, a specialist in components for connected sports. By inserting a PIQ sensor into the strap of a ski boot, skiers are supposed to be able immediately to keep track of their performance. The new ...
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Italy's ski equipment market inches up
Pool Sci Italia, a consortium that represents ski equipment producers in Italy, has reported slightly improved sell-in results for the 2014/15 ski season, based on data supplied by both its member companies and collaboration with non-members. During the last season, the total sell-in revenues before VAT amounted to €55,591,332, slightly ...
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Snowleader raises funds for international expansion
Snowleader, a French online retailer specializing in outdoor and winter sports products, has raised €2.5 million from existing and new shareholders. The company said the resources would support the expansion of its international sales, which make up about 12 percent of its turnover, and enable it to seize external growth ...
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Female apparel drives sportswear sales growth in the U.K.
Sportswear sales in the U.K. are expected to reach £6 billion (€8,259m-$9,025m) by the end of the year according to Key Note, a British online resource offering market and industry reports, and the anticipated growth will be driven by sales of female apparel, which rose by 11 percent in volume ...
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The winners of Ispo Brandnew 2016
This year's Overall Winner of the Ispo Brandnew awards is Icaros, a young German brand that has developed a virtual reality device for sports and entertainment which can be used during workout. An independent, international jury, mostly made of former winners and finalists, selected a group of Top 50 Newcomers ...
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Sport 2000 returnsto Italy
Sport 2000 International continues to take on board formerly affiliated buying groups in various European countries. It's now the turn of Sport Alliance International, which federates 265 sporting goods stores in Italy, plus some across the border in Austria. They will all gradually add the Sport 2000 logos to their ...
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New Intersport boss will launch TAF in Italy
Like Andrea Morino, who went to the other side of the fence to run Sport Alliance a few months ago, another Italian executive from the sporting goods industry has moved into retailing. Volfango Bondi, who spent 22 years at Nike and Puma, has been appointed general manager of Intersport Italia.Bondi, ...
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Foot Locker grows strongly in Europe
Foot Locker had a particularly strong quarter in Europe, where its sales grew by more than 15 percent overall on a comparable store basis in the period, ended Oct. 31. It was the best performance across the group, with double-digit increases in nearly all the markets and all major categories, ...
