Latest Headlines – Page 296
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Adidas will pump up retail
Another target is to expand sales through the group's own concept stores at double-digit rates per year. The company runs about 2,900 own stores and wants to add 500 to 600 more stores by 2020, including specialist stores focusing on basketball, running or women, for example.By reducing the number of ...
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Adidas will adopt a more consumer-focused approach
Adidas managers said the new focus on consumers will be facilitated by the reorganization of the management structure that was implemented last year, dismantling the previously function-driven organization and giving full responsibility to the managers of each sports category.The group's investments to engage end consumers are to focus on six ...
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Adidas wants to speed up processes
The “speed” component of the Adidas Group's new strategic plan is inspired by the business model that the group has adopted for Neo, the fast-fashion label developed by Adidas in the recent years, which reached sales of more than €850 million in 2014. While the entire company has already reduced ...
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Robust quarter for Nike in a choppier market
Nike produced yet another robust quarter for the three months until the end of February, with just a few less favorable developments such as the impact of the labor dispute in West Coast ports, the remnants of warehousing issues in Mexico and a realignment in Brazil.Mark Parker, the company's president ...
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Rebound for Nike in Western Europe, realignment in Brazil
Western Europe was one of the best regions for Nike during the third quarter, with a sales increase of 21 percent in local currencies and growth across all product categories. The sportswear, women's training and running categories all produced double-digit sales expansion. In reported terms, the Nike brand's sales in ...
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Pierre Agnes becomes chief executive at Quiksilver
Pierre Agnes, who has climbed the executive ladder at Quiksilver in Europe and then globally for the last 27 years, became the company's chief executive last week. The Frenchman replaces Andy Mooney, who has left the company after just over two years that were marked by wide-ranging restructuring measures.While the company ...
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Quarterly loss for Quiksilver
Quiksilver continued to cut costs in the three months until the end of January but that didn't suffice to make the company profitable as its sales declined and the profit margin was hurt by currency exchange rates. The company described the situation as the start of a turnaround, indicating that ...
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Globe performs relatively well
Like other action sports companies, Globe International performed relatively well in the first half of its financial year, ended Dec. 31. Its sales grew by 28 percent to 66.2 million Australian dollars (€47.6m-$52.1m) with a currency-neutral increase of 27 percent. Operating earnings before amortization (Ebitda) rose by 17 percent to ...
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Rip Curl may be worth six times Ebitda
A share buyback approved by Rip Curl's board of directors indicates that the company's market value is currently estimated at 310 million Australian dollars (€220.2m-$239.4m). As reported by The Australian, the current valuation is lower than the A$400 million price tag placed on the surfwear company two years ago with ...
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Head is going private
Head is getting ready to go private. Head NV and its HTM Sport subsidiary have announced that shareholders will be asked to convert the legal form of the company into that of a private limited liability company by approving one of several resolutions at the annual meeting in Amsterdam on ...
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Higher sales for Head across the board
Meanwhile, Head has put out its 2014 financial report. The company's total revenues increased by 4.7 percent to €375.4 million, with growth of 5.3 percent in constant currencies and higher numbers in all the divisions. The adjusted operating margin improved slightly to 3.6 percent from 3.4 percent in the previous ...
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Pon buys BBB Cycling
Pon Holdings, the Dutch conglomerate that acquired Gazelle and several other bicycle brands in the last four years, has now taken over Augusta Benelux BV – the company above BBB Cycling, an international specialist in the development and distribution of bicycle parts, accessories and apparel.Pon, which is a sprawling ...
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Dorel Sports posts 6% growth
Dorel Industries said its Dorel Sports segment posted revenues of $260.0 million in the fourth quarter ended on Dec. 31, representing a 6 percent increase versus the fourth quarter of 2013, and the fourth consecutive quarter of growth for the segment. Excluding the impact of foreign exchange and acquisitions, the organic ...
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Amer Sports to acquire Louisville Slugger
Wilson Sporting Goods, a division of the Finnish conglomerate Amer Sports, has acquired the global rights to the Louisville Slugger bat from Hillerich & Bradsby Co. (H&B) for $70 million in an all-cash transaction. The closing of the deal is expected in the second quarter of 2015. Founded in 1884, ...
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Black Diamond explores strategic alternatives
The stock market valuation of Black Diamond Inc. shot up by 37 percent to $315 million after the company reported strong progress in sales and margins and announced that it has retained two financial advisers to lead the exploration of “a full range of strategic alternatives” for each its ...
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Black Diamond strengthens its sales department
Black Diamond has announced that Heath Christensen and Tor Brown are returning to the company in new roles as director of sales for North America and mountain line category director, respectively. Matt Burbach will also join the company as senior retail marketing manager and Glenn Ritter has been internally ...
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Columbia rejigs its top management
Columbia Sportswear has announced a reorganization of its top management, describing it as a move to drive continued profitable growth. The group expects the company's sales to expand at double-digit rates for apparel in constant currencies this year, compared with $1.7 billion in 2014, while footwear sales are predicted ...
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Jack Wolfskin appoints a new CFO
Jack Wolfskin is continuing to rejig its executive team, with the appointment of Axel Mau as chief financial officer. The job had been handled temporarily by Christian Brandt, after the departure of Andreas Klotz two years ago. Brandt will also be stepping down from his job as chief operating ...
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Lafuma turns around
The Lafuma Group reported a quantum improvement in the financial year ended Dec. 31, posting a net profit of €2,270,000 for the period against a net loss of €69,196,000 in the comparable 12-month period through December 2013. It booked ordinary operating earnings of €3,039,000 versus an operating loss of ...
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Luxottica plans to take over Oakley’s distribution
Luxottica plans to integrate Oakley into its global wholesale structure before the end of this year, according to reports that have been largely confirmed by a manager of the group. We hear that the decision has been personally made by Leonardo Del Vecchio, founder and chairman of the group, following ...
