Latest Headlines – Page 290
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Kettler interests investors
At least two investment firms are said to be interested in acquiring Kettler, the German fitness manufacturer that became insolvent earlier this month. Some German newspaper reports indicate that it would take about €40 million to restructure the company, which may involve the sale of shares in Kettler in exchange ...
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Alpina acquired by Slovenian state bank, Elan to follow
Alpina, the Slovenian maker of ski and outdoor footwear, has been acquired entirely by Bank Assets Management Company (BAMC) the country's state-owned “bad bank.” BAMC, which was Alpina's largest creditor, agreed earlier this month to convert some of its debt into equity and intends to organize the company's sale. Matjaž ...
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Kästle moves after its takeover
Kästle, the Austrian ski company, is moving its head office from Salzburg to Hohenems, where it was already established before its acquisition by Rudolf Knünz in 2007. This comes after Knünz bought a majority stake in Differences, a company in Hohenems specializing in the production of small series of skis. ...
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Delayed recovery for Quiksilver
Quiksilver has admitted that its recovery had been set back by delivery and execution issues, mostly in North America, meaning that it could not stick with its previous forecast of significant improvements in the second half of the year. Quiksilver's chief executive since March, Pierre Agnes, said in an investor ...
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U.S. weakness at Quik
The Quiksilver group said its sales were stabilizing after a drop of 2 percent on a comparable basis for the quarter until the end of April, with small declines in the Americas and Europe paired with an ample increase in Asia-Pacific.Comparable sales are meant to be in constant currencies and ...
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Noisy board resignation at Quiksilver
Liz Dolan, a former Nike executive who joined the Quiksilver group's board of directors last year, resigned last month writing that she was excluded from crucial board meetings and discussions. These apparently pertained to talks about the dismissal of Andy Mooney, Quiksilver's former chief executive, and the appointment of his ...
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Lululemon regains traction
Expansion into international markets has contributed to a sharply reduced gross margin for Lululemon Athletica for the quarter ended on May 3, but the Canadian yoga-inspired apparel brand achieved ample gains in sales and profits for the quarter, which is the first in its fiscal year.Lululemon's sales increased by 10 ...
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Fenix finalizes Globetrotter buy
Fenix Outdoor International (Fenix) has finalized the acquisition of the 40 percent stake it did not own in Frilufts Retail Europe, a subsidiary regrouping three outdoor retailers: Globetrotter from Germany, Naturkompaniet in Sweden and Partioaitta in Finland, which form the second-largest outdoor retail group in Europe with joint sales in ...
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Black Diamond’s CEO in waiting resigns
Zeena Freeman, who was to become Black Diamond's chief executive this month, has resigned as the company's president and stepped down from its board of directors after it indicated earlier this year that it was studying a potential sale of its three remaining brands. This came after the lucrative sale ...
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BD reinforces product development
Doug Heinrich has been appointed senior vice president of product at Black Diamond, to supervise development across its equipment and apparel categories. The U.S. outdoor company said this was part of a drive to unify the development teams for apparel and equipment – about two years after the launch of ...
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Scott gets European license for Outdoor Research
Outdoor Research (OR) has issued a European license to Scott Sports, starting from the beginning of this month, which will enable the U.S. outdoor company's European team to focus on sales and marketing.The move comes about three months after Youngone, the Korean company that bought a majority stake in OR ...
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Under Armour to safeguard Plank’s control
Under Armour is preparing to launch a new class of non-voting common stock, the Class C shares. The move was regarded as a strategy to ensure that Kevin Plank, the company's founder and chief executive, retains control over the company.Plank holds a majority of Under Armour's Class B shares, which ...
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Yue Yuen reports mixed quarterly results
Yue Yuen Industrial Holdings has reported a net profit of US$96.1 million for the first quarter ended March 31, up from $72 million in the year-ago period, but its operating earnings fell by 9.2 percent to $85.9 million before extraordinary items, reducing the operating margin of the group from 5.16 ...
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Belle’s sports stores prosper in cleaner market
Belle International is reaping benefits from the clean-up in the Chinese sports apparel and footwear market in recent years, with a comparable sales increase of 12.4 percent for its sportswear and apparel stores for the three months until the end of May – against a comparable sales decline of 7.8 ...
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Zalando takes over Bread & Butter
The giant e-tailer based in Berlin has signed a letter of intent to buy the insolvent company that manages the Bread & Butter fashion show in the German capital. The fair is working on a new concept that should involve consumers, which are Zalando's primary target, but it's not sure ...
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U.K. sport participation drops, swimming is worst
Grassroots sport participation is dropping in the U.K., according to the figures provided by Sport England in its latest Active People Survey, which measures the number of people taking part in sport across the nation and in local communities. Almost a quarter of million people stopped taking part in regular ...
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Brazil football sponsorship under scrutiny, Blatter to resign
A large-scale sponsorship deal signed between “a multinational sportswear company headquartered in the U.S.” and the Brazilian Football Federation (CBF) in 1996 came under scrutiny last week as part of an investigation by U.S. authorities that alleged “rampant, systemic and deep-rooted” corruption in organized football.It was described in an indictment ...
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Decathlon wants to expand in Latin America
The giant French-based sporting goods retailer's expansion into the Spanish-speaking part of Latin America is starting with the establishment of a subsidiary in Mexico. Decathlon already has a subsidiary in Brazil, where the number of its stores grew by three to 18 in the past year under the management of ...
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Strong quarterly growth, new markets for Intersport and TAF
Both Intersport and The Athlete's Foot (TAF) recorded very strong sales increases at the retail level in the first quarter of 2015, and they are both entering new markets. Intersport International Corp. (IIC) has signed new franchising agreements for the Intersport banner in Algeria, Indonesia and the Philippines. TAF, which ...
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AS Adventure buys Snow+Rock
The AS Adventure Group has acquired Snow+Rock, the British chain of outdoor, ski, running and cycling stores, from LGV Capital, which had bought it five years ago. AS Adventure, which was recently sold by Lion Capital to PAI Partners, owns the Cotswold Outdoor chain in the U.K., in addition to ...
