Latest Headlines – Page 282
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Strategic changes pay off at Amer Sports
Following strategic changes begun last year, the balls sports business at Amer Sports contributed a sharp rise in the group's sales for the third quarter, while the company's turnover continued to advance briskly in apparel, footwear, own retailing and China.The Finnish group's sales increased by 11 percent to €713.7 million ...
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Nike sets a $50 billion sales target for 2020
The recent performance of the Swoosh, progress in digital manufacturing and retail technologies and the athleisure trend have led the Nike group's management to predict that it will be able to reach $50 billion in annual revenues in the financial year ending in May 2020, up 63 percent from $30.6 ...
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Nike and Adidas lead a manufacturing revolution
The two giants of the sporting goods industry indicated last week that they plan to introduce shortly new technologies that will enable consumers to get customized shoes, using sophisticated software, 3D printing and other new technologies that will revolutionize the traditional manufacturing process.At its meeting with investors last week, Nike ...
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Tecnica sells Dolomite to Scott
The Scott Sports group continues its external growth strategy with a preliminary agreement for the takeover of Dolomite, an iconic Italian brand of functional apparel and footwear whose origins go back to 1897. The Tecnica Group, which acquired the brand in 1998, will thus concentrate on its remaining assets in ...
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Black Diamond sells Poc to Investcorp
Investcorp Group, the big investment company from Bahrain, has reached an agreement with the Black Diamond group to take over Poc, the Swedish brand of snow sports and cycling gear, at a price of $65.0 million, subject to customary price adjustments. This is equivalent to nearly 1.9 times the turnover ...
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Quiksilver may be still in the market
There is no certainty that Oaktree Capital Management will become the controlling shareholder of Quiksilver, as previously reported, although the federal bankruptcy court of Wilmington, Delaware, accepted Oaktree's and Bank of America's offer to provide the struggling surf & skate group with a $175 million financing package. The court's approval ...
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Sport Zone moves into France
After its expansion into India earlier this year, Sport Zone, the leading Portuguese sports retailer, formally opened its first franchised store in France last month, spreading on about 1,000 square meters in a shopping center in Amiens.Sport Zone is part of the much larger Sonae Group, comprising interests from hypermarkets ...
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SDI agrees to buy second half of Heatons
Sports Direct International (SDI), the leading British sports retailer and wholesaler, has agreed to pay €47.5 million for the 50 percent it does not already own in Warrnambool, the holding company for the Heatons chain of variety stores in Ireland.SDI said the acquisition, putting the retailer's value at €95 million, ...
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SDI chief is charged with criminal offence, pleads not guilty
Dave Forsey, chief executive of Sports Direct International (SDI), the leading British sports retailer and wholesaler, has been charged with a criminal offence relating to the collapse of West Coast Capital, which ran the USC fashion apparel chain owned by SDI. He was charged over alleged failure to notify the ...
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Direct Golf owner in tussle with SDI
The fate of Direct Golf remained uncertain last week, after the owner of the second-largest British golf retailer reportedly became embroiled in a dispute with a minority shareholder, Sports Direct International (SDI), over control of the cash-strapped company. John Andrew reportedly filed earlier this month a notice of intention for ...
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Adidas doesn't join call for Blatter's resignation
Adidas has declined to support four other leading Fifa sponsors who called for Sepp Blatter's immediate resignation earlier this month, after Swiss prosecutors opened criminal proceedings against the football organization's president on allegations of criminal mismanagement and, alternatively, misappropriation. Blatter subsequently received a provisional suspension of 90 days from the ...
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Knight writes up his side of the Nike story
Students at Stanford University a few years ago were startled to find out that the unassuming man with the white Nikes who turned up at their creative writing classes was Phil Knight. The anecdote published by The Wall Street Journal at the time didn't mention whether Nike's co-founder was then ...
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PSG posts lower earnings and revenues
The revenues of Performance Sports Group (PSG) were down by 11 percent, or 4 percent in constant currencies, to $175 million for the first fiscal quarter ended Aug. 31. The company, which owns Bauer and other operations in ice hockey, lacrosse, baseball and softball products, recorded a net loss of ...
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Vulcabras continues its recovery
We should have run the quarterly results of this Brazilian company earlier, but here they are: Vulcabras Azaleia reported a big jump of 279.2 percent in its operating earnings before amortization (Ebitda) to 40.2 million reais (€9.3m-$10.4m) for the second quarter ended on June 30. In spite of a challenging ...
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Brazil extends anti-dumping duties on China
Decom, the Trade Defense Agency of the Brazilian government, has announced the continuation of the investigation to review its anti-dumping measures against footwear from China. The agency indicated that it had found elements of ongoing dumping. Apparently, it also admitted that there has been no further injury to the Brazilian ...
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The TPP faces some hurdles
Trade ministers from the U.S. and 11 other countries along the Pacific Rim have finalized the terms of the Trans Pacific Partnership (TPP), an agreement that would eliminate import duties and other trade barriers between them over time. It would cover about 40 percent of the world's economic output. In ...
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Former Arc’teryx managers roll out bike apparel brand
A Canadian cycling apparel brand launched by several former Arc'teryx managers has rapidly gained distribution in European and Asian countries. 7mesh, which has a distinctively clean design, already reached ten markets when it started earlier this year, and a few more should be added shortly.The president at 7mesh Industries is ...
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Salming expands in running
Salming Sports is preparing to open a third Salming Run Lab in Switzerland in March, as the Swedish brand continues to diversify and to build on its particular approach of running shoes.Salming has long been known as a leading brand of equipment for floorball but a few years ago it ...
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Norrøna wins the Norwegian retail prize
Norrøna came home from the 2015 Norwegian Retail Conference with the Retailer of the Year award. While it may seem strange that a vendor wins a prize aimed at retailers, it was Norrøna Retail that got it because of the company's own retail operations. The Retailer of the Year award is ...
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Big growth for CMP
CMP is the brand of sports clothing, specializing in ski and outdoor garments, launched in 2010 by Italy's Fratelli Campagnolo to make a clear statement in the market for an affordable and functional apparel line with Italian design. The idea behind the new brand name, which took the place of ...
