Latest Headlines – Page 297
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Safilo will invest on Smith and Carrera
Safilo wants to raise its annual turnover by about 40 percent to a level of between €1.6 billion and €1.7 billion by 2020, compared with the revenues of €1,179 million posted in 2014, driven by a doubling in the sales of its proprietary brands, including Carrera, Smith Optics and Polaroid ...
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Chairman faces sharp questions over SDI
Keith Hellawell, the chairman of Sports Direct International (SDI), faced uncomfortable questions from the Scottish Affairs Committee in the British parliament last week over the behavior of the sporting goods retailer and wholesaler. The exchanges took place as part of a parliamentary hearing focusing on the dismissal of warehouse employees in ...
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Brazil reviews its anti-dumping duties
The Brazilian government has opened an investigation to determine whether it should extend or terminate the anti-dumping duties imposed on imports of shoes from China in 2009. The investigation is supposed to last a maximum of ten months.Because of the anti-dumping duties, China is now in third place as a ...
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Vulcabras shows improvement, but loses the Reebok contract
Vulcabras, the Bazilian company that owns Azaleia, Dijean and Olympikus, announced a net profit of 11.2 million reais (€3.2m-$3.5m) for the fourth quarter of its last financial year, ended on Dec. 31. It was the first net profit in 13 quarters, following a long period of reorganization, and compared with ...
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Alpargatas reports mixed results
Increasingly known internationally for its Havaianas brand of rubber sandals, Alpargatas reported a rise of 8.3 percent in total revenues to 3.71 billion reais (€1,061m-$1,155m) for the past year, with growth of 13.7 percent in local currencies.The company booked net income of R$280.2 million (€80.2m-$87.2m) for the year, down 9.6 ...
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Yue Yuen’s profits dip
Yue Yuen raised its sales by 5.7 percent to US$8.01 million in 2014. Excluding special charges, operating profit was stable at $430.5 million, but the charges resulted in an operating loss of $99.5 million for the world's largest manufacturing company, which is also a major retailer in Greater China through ...
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Chinese workers go on strike again
New reports from China indicate the emergence of new turbulence at several shoe factories in Dongguan after the Chinese New Year. According to The Wall Street Journal, hundreds of workers went on strike on March 9 and 10 at a plant operated by Stella International in Dongguan, which employs some ...
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Vietnam aims for $14 billion in shoe exports
The Vietnam Leather and Footwear Association (Lefaso) has set a target of $14 billion for the country's global footwear exports in 2015. According to the Vietnam Customs, the country's footwear exports reached an estimated $10.22 billion in 2014, Fob (Free on Board) at Vietnam's ports, representing a 21.6 percent increase ...
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Li Ning lifts sales but remains loss-making
Li Ning Company enjoyed a sizeable sales hike last year, with much faster growth in the second half of the year, but it remained loss-making for the third year in a row – as the company already warned in January.The group has yet to find a permanent chief executive after ...
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361 Degrees hails turnaround
361 Degrees International, one of the largest Chinese sportswear companies, hailed a turnaround for itself and the market as it reported a sharp increase in sales and profits for last year, as well as a sizable jump in orders for this year.The group's turnover advanced by 9.0 percent 3,906.3 million ...
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Ecco aims to sell 50% directly to the consumer
After three years of controlled growth and investments in its production facilities, Ecco says it is changing to a “more expansive” strategy. It wants to do so notably by strengthening its women's collections and by investing heavily in direct-to-consumer distribution, which is set to represent 50 percent of sales by ...
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The U.K. government pushes women to do sports
Sport England, a public body under the U.K. Department for Culture, Media and Sport, has started to work on the promotion of sport in the country. It launched last month a nationwide campaign to this effect with a series of video spots under the title “This Girl Can.” Developed in ...
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International graduate management course is on course
EMLyon, the management school in Lyon, has reached a new record by enrolling more than 30 students from all over the world in its three-year-old master's degree course in sports industry management. After attending two sessions in Lyon and Annecy, they are set to move to a campus in Shanghai ...
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Adidas Group boasts robust underlying performance
The Adidas Group is eagerly turning the page on a year of ups and downs, when ample gains for the Adidas brand were marred by shrinking sales in its golf business and the weakness of the Russian ruble. A few weeks ago the group had already revealed headline figures for ...
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Buoyant quarterly sales for Adidas and Reebok marred by golf and ruble
The Adidas Group ended the year with vigorous sales increases for the Adidas and Reebok brands but its net loss widened for the quarter due to unfavorable exchange rates, higher input costs and several one-off charges.The company's sales were up by 6.5 percent to €3,610 million for the quarter, amounting ...
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Tecnica gets the blessing of its lenders
The Tecnica Group announced the successful completion of a new financing agreement with a pool of banks that have supported the company over the past years. The company will benefit from a new credit line of €175 million, including €110 million for its seasonal working capital requirements and a new ...
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Foot Locker makes strong progress
Foot Locker reported a 21 percent increase in net income to $520 million for the financial year ended last Jan. 31, representing a net margin of 7.3 percent on total sales of $7,151 million, which were up by 9.9 percent from the previous year. The net margin and the operating ...
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Zalando moves into the black for the year
Zalando made an annual operating profit at group level for the first time last year, and not only in Germany where it had already become profitable before.According to preliminary figures, the big German-based e-tailer booked an adjusted operating margin (Ebit) of 3.7 percent of sales, before extraordinary items, versus a ...
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Intersport improves in Russia, suffers in Finland
A triple whammy of warm weather, economic uncertainties and Russian tensions badly affected sporting goods sales in Finland last year, leading to a sales decline of about 7 percent for Intersport stores to €254 million excluding VAT. This includes sales at Intersport as well as Budget Sport and the smaller ...
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The Luhtanen family tackles strains in Finland and Russia
Supported by its family structure, the L-Fashion Group has built up a strong balance sheet that has allowed it to make some important strategic decisions and to weather the recent strains in the Finnish and Russian markets, which are most important for this big Finnish outdoor and winter sports apparel company.L-Fashion ...
