Latest Headlines – Page 280
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Adidas gets India’s go-ahead for its own format stores
The Adidas Group has obtained approval from the Indian government to open fully owned Adidas-branded stores in the country. Dave Thomas, managing director of the Adidas Group in India, said in a statement that the company intends to start opening larger stores under full ownership in the second half of ...
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A Peace Walk in Monte Carlo following the tragic events in Paris
Peace and Sport, the international initiative under the High Patronage of His Serene Highness (H.S.H.) Prince Albert II of Monaco, organized a Peace Walk on Wednesday Nov. 25 on the opening day of its International Peace and Sport Forum, which was held in the principality through Nov. 27. The symbolic ...
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Coe relinquishes Nike ambassador deal
Sebastian Coe, president of the International Association of Athletics Federations (IAAF), has relinquished his deal as a Nike ambassador, after increasing unrest over what some critics have described as a potential conflict of interests. At a conference in Monaco on Thursday, Coe denied any such issues but admitted that the ...
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Franz Julen will leave a stronger Intersport in 14 months
Franz Julen announced to his staff yesterday that he will retire at the end of 2016 as the chief executive of Intersport International Corp. (IIC), a retail organization that is in line to book growth of between 7 and 8 percent for this year, in spite of the absence of ...
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Buoyant quarter at Adidas, cuts in golf business
The Adidas Group enjoyed an impressive sales increase for the third quarter, which encouraged the company to raise its guidance for the full year. Sales jumped by 17.7 percent to €4,758 million, amounting to a rise of 13 percent in constant currencies, with ample sales and profit gains in Western ...
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Sneaker trends and key accounts lift Adidas’ sales in Europe
As detailed above, the strong performance of the Adidas Group in the third quarter was lifted by a 20.1 percent jump in the sales of the Adidas and Reebok brands in Western Europe. Their turnover in the region reached €1,404 million, up by 18.0 percent in local currencies. The management ...
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Hainer says Adidas is untarnished by football scandals
While savoring the company's performance for the third quarter, the Adidas Group's chief executive, Herbert Hainer, had to brave questions about the turbulence at Fifa and the German football federation (DFB), which are both Adidas partners.Hainer said in a conference call that the uptick in Adidas' sales indicated that consumers ...
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Puma is still upbeat about its turnaround
Puma has yet to fully hit its stride in Europe, but the brand raised sales and profit in line with expectations for the third quarter ended Sept. 30. It has also been gaining strong exposure through endorsees from Usain Bolt to Rihanna.Puma's sales were up by 8.4 percent to €914.4 ...
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Asics lowers its guidance
Asics Corp. posted net sales of 336.8 billion yen (€2,525.6m-$2,727.6m) for the first nine months ended Sept. 30, indicating growth of 12.7 percent on an adjusted basis based on a comparison with the corresponding three months of last year, which had a different fiscal year-end. They grew by 7.5 percent ...
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More on Asics in Europe
Commenting on the 14 percent increase it recorded in the nine months ended Sept. 30, Asics Europe added that double-digit growth was reached in Sweden, Norway, Denmark, France, Austria, Poland, Benelux and Russia. Solid single-digit gains were recorded in the U.K., Germany and Italy. The company's own stores in the ...
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The weak yen reduces Mizuno’s results overseas
Mizuno has reported a sales increase of 7.8 percent to ¥96.9 billion (€732.3m-$786.3m) for the first half of its financial year through Sept. 30. Footwear sales grew by 9.7 percent to ¥31.9 billion (€240.2m-$258.3m), apparel by 4.6 percent to ¥28.0 billion (€210.9m-$226.7m), equipment by 11.5 percent to ¥24.2 billion (€182.3m-$195.9m), ...
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Descente grows mostly in Asia
The Japanese company, which bought the British Inov-8 brand last August, reported nearly flat sales of 27.2 billion yen (€205.3m-$220.8m) in its domestic market for the first six months of its financial year, ended Sept. 30. Descente's sales rose by 26.6 percent in the rest of Asia to ¥37.7 billion ...
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Black Diamond will re-size itself
While looking for possible new investments inside and outside the outdoor sector, Black Diamond Inc. (BD) has decided to simplify its structure following the sale of Gregory Mountain Products and Poc in the past two years. The reorganization, which should entail restructuring charges of $3.5 million in the next 15 ...
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Alpargatas sells Rainha and Topper
Alpargatas announced the sale of the Rainha and Topper brands of sports shoes in Brazil as well as a 20 percent stake in Topper Argentina, the parent company of Topper. The buyer of these assets is the Sforza group, which is owned by Carlos Wizard Martins, a Brazilian entrepreneur who ...
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Rip Curl reports improved results
While Quiksilver is struggling and Billabong International is recovering, the Rip Curl Group (RCG) is improving its financial results, as is Globe International. Rip Curl reported an increase in adjusted net earnings of 26.3 percent for the financial year ended June 30 on a 3.7 percent sales increase.No precise figures ...
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Dorel Sports’ growth is hit by currency headwinds
Dorel Sports' sales for the third quarter were flat at $266.5 million, but were up by about 9 percent after removing the impact of currency exchange fluctuations. Dorel Industries, Dorel Sports' parent company, attributed the growth of the independent bicycle dealer (IBD) channel to increased demand for the higher-margin bikes ...
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The French athletic shoe market climbs by 12%
The athletic footwear market in France has grown by 12 percent during the last 12 months, according to a recent study by NPD Group. Revenues for the segment have reached €2.7 billion and athletic footwear now accounts for nearly 30 percent of France’s overall footwear market. The growth has been ...
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Fenix brands on the rise
The acquisition of Globetrotter, the leading German outdoor retailer, contributed the largest part of sales expansion for the Fenix Outdoor International group for the third quarter, but the company's outdoor brands and its retail operations in Sweden and Finland all generated organic growth.Fenix acquired a majority stake in Globetrotter last ...
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Good progress for Thule
The Thule Group reported this week on a continued favorable trend in sales and earnings for its Outdoor & Bags segment, which is getting full attention from the management due to its new strategic focus on the sport and outdoor sector. Its commuter cycling backpack won first prize last month ...
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New CEO at Klättermusen
Gonz Ferrero, a young investor and executive with experience in digital business and Asia, was appointed chief executive at Klättermusen in October. He takes over from Johan Nordqvist, who left the company in May, only about a year after he was placed at the helm following a change of ownership ...
