Latest Headlines – Page 289
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Newly integrated retail group makes higher profits
Sport Nordic Holding, the new group that owns the Danish Sportmaster chain, has reported improved operating earnings before amortization (Ebitda) in 2014. The group was formed in July 2012 to take over the stores of Sportmaster's retail members, transforming the former voluntary group into an integrated retail operation.The new company ...
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Rendle rises up the ranks at VF
Steve Rendle has been promoted to the position of president and chief operating officer of VF Corporation, overseeing all the “coalitions” of the big American group and its global supply chain. He is also joining VF's board of directors. Rendle, 55, will report to Eric Wiseman, who remains chairman and ...
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Dus will run Tecnica
Antonio Dus, the seasoned Italian manager who left a few weeks ago as chief executive of Vibram, has been chosen to be the new CEO of Tecnica Group, starting next Sept. 14. He will also have a seat on the company's board of directors along with two other new directors ...
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New CEO for Odlo
Christophe Bézu, who earned his stripes in the sports industry as a gutsy international executive at the Adidas Group, is taking over from Jonas Ottosson as chief executive at Odlo. The Frenchman started leading the Swiss-based underwear specialist at the end of last month, as part of a wider reshuffle ...
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Management changes at Lacoste
Lacoste has appointed Joëlle Grunberg, its France managing director, as its new chief executive for North America, which is an important market for the French brand. She replaces Francis Pierrel, who has just left the brand. Grunberg's successor in France has not yet officially been named and Didier Lalance, executive ...
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Pentland reports higher sales and profits
Pentland Group's pre-tax earnings jumped by 92 percent to £164 million (€230.5m-$257.8m) in 2014 on 14 percent higher revenues of £2.2 billion (€3.1bn-$3.5bn). Operating income before amortization of intangible assets and exceptional items increased by 30 percent to £160 million (€224.9m-$251.4m).Net cash at year-end nearly doubled to £202 million (€283.9m-$317.4m), ...
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Lotto’s sales are off slightly, but operating margin is up
Total sales dropped slightly to €268 million at Lotto Sport Italia on a wholesale-equivalent basis in 2014, down from €273 million in the previous year. Net earnings were more or less flat as compared to the 2013 level of €3 million, but the operating margin before amortization (Ebitda) improved considerably ...
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Royer sees sales accelerating
Groupe Royer celebrated its 70th anniversary a few days ago, in the presence of 80 collaborators from all over the world, by announcing a 7 percent sales increase to €280 million in 2014 and predicting a further increase to €310 million in 2015. The big French company, which is involved ...
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Brazilian online sports retailer changes hands
Global Fashion Group (GFG), the multi-banner online retailer supported by Rocket Internet and Kinnevik, has signed agreements for the acquisition of two Brazilian online retailers, Kanui and Tricae, with a total turnover of around €30 million.Founded in 2011, Kanui is a surf and skate online shop that generated sales of ...
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The Italian sporting goods industry grows by 1%
After some tough years, the Italian sporting goods industry regained its growth in 2014, thanks largely to higher orders from abroad. Its total revenues went up by a meager rate of one percent to an estimated €4,367 million, according to its trade association, Assosport. Higher sales in the outdoor and ...
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Golf Europe postponed
Messe Augsburg, the organizers of Golf Europe, have decided to cancel the fair to be held in September, to hold talks with some of its exhibitors and discuss other potential dates for next year. The organizers said that interest has been strong but some of the big players failed to ...
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Dip in European golf registrations
The latest survey on golf participation in Europe indicates that the number of registered golfers dipped by 1.8 percent in 2014, amounting to a decline of 77,000 golfers – contrasting with other reports that point to stabilizing participation in Great Britain.The European numbers come from KPMG, which points to a ...
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Black Crows raises money in expanding freeride market
Black Crows, the French freeride skiing brand, has raised €3 million to accelerate its expansion, as this category of the ski equipment business is drawing increased investment and expanding across international markets.Based in Chamonix, Black Crows is among the most prominent brands in the freeride market, with a distinctive chevron ...
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Ispo Shanghai’s premiere reflects a changing market
The Ispo Shanghai show celebrated a relatively successful premiere on July 2-4, welcoming a total of nearly 19,000 visitors. The fair was bigger than originally planned, with 354 exhibitors offering 473 brands to retailers in the Asia-Pacific region in general and in China in particular. Many visitors appreciated the variety ...
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Nike overtakes Adidas in apparel
For the first time in its history, the Swoosh overtook the Three Stripes last year in terms of invoiced sales in the global sports apparel market, whose growth accelerated to 4.3 percent from 0.9 percent in 2013. Both companies, as well as the sports apparel market overall, benefited from the ...
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Nike gets a big NBA deal
Nike has made a splash to replace Adidas as the apparel partner of the National Basketball Association (NBA), as part of a much broader eight-year global merchandising and marketing partnership starting from the 2017-2018 season.While the rights acquired by Adidas were reportedly worth about $400 million for eleven years (and ...
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Fitbit is worth $6 billion
The stock market gave Fitbit a valuation of nearly $6.3 billion as the company went public on the New York Stock Exchange yesterday, making the IPO one of the most successful ones in recent years. It's a lot for a company that had net income of $131.8 million on sales ...
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Intersport Sweden has been bought by an investment firm
Adelis Equity Partners, a Swedish investment firm, has agreed to invest in a structural changeover at Intersport Sweden, which will turn the voluntary group into an integrated retailer with about 100 stores, owned at 70 percent by Adelis. The remaining stake of 30 percent will stay in the hands of the ...
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Sport 2000 International advances
After its annual general assembly, which was held a few days ago in Copenhagen, Sport 2000 International said that its affiliated stores reached a record retail turnover of €6,264 million last year, up by 5.3 percent from 2013. The international buying group had 3,728 stores operating in 23 countries at ...
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Hudson’s Bay buys Kaufhof
One more big change is taking place in the beleaguered department store landscape in Germany, which has been traditionally strong in the sporting goods sector. A Canadian-based group, Hudson's Bay Co., (HBC) has agreed to acquire Galeria Kaufhof from the Metro AG group for €2.82 billion including debt, outbidding the ...
