Latest Headlines – Page 303
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Sports Direct improves retail margins
The management of Sports Direct International expressed confidence in reaching targeted underlying operating earnings before amortization (Ebitda) of at least £360 million (€457.7m-$560.1m) during the current financial year when reporting its financial results for the first half ended on Oct. 26.The group's underlying Ebitda, which excludes foreign exchange fluctuations and exceptional ...
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Chris Ronnie gets a 4-year jail sentence
The Southwark Crown Court sentenced Chris Ronnie, the former chief executive of the now defunct JJB Sports chain, to four years in prison and banned him from serving on any board of directors for eight years. The verdict follows a trial in which he was convicted on three counts of fraud ...
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Nike remains bullish after a strong second quarter
Strong performance in Western Europe, China, the direct-to-consumer (DTC) business and the growing women's segment of the sports market contributed to push the Nike group's revenues up by 14.8 percent to $7,380 million in the second quarter ended Nov. 30. The Swoosh is expecting further strong increases in sales and ...
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Quik disappoints, sees light after January
The results published by Quiksilver for the fourth quarter ended Oct. 31 were disappointing, but the management assured investors that the company is now in strong shape to stabilize revenues and to generate a significant increase in operating results on a comparable basis for the current financial year.Sales were still ...
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Lululemon opens new stores overseas
As previously reported, Lululemon Athletica plans to have 20 stores in Europe and 20 in Asia by 2017. According to Retail Week, the Canadian-based retailer has hired a commercial real estate firm, CBRE Group, to lead its development in the U.K. and in continental Europe.In addition to five”showrooms” in the ...
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Golfino turns around
Golfino, the leading German golf apparel company, has reported a financial turnaround for the financial year ended last Sept. 30. Sales increased by 9 percent to €36.1 million, generating an operating profit (Ebit) of €2.1 million against a loss of around €200,000 in the previous year. It made a pre-tax ...
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Johnson Outdoors hikes sales and profits
A strong finish of the financial year has been reported by Johnson Outdoors, attributing much of the progress to the fact that new products generated one-third or more of sales for the tenth consecutive year. Particularly in the second half of the financial year, ended on Oct. 30, the introduction ...
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Ribatt will run Crocs
Gregg Ribatt, a seasoned executive who helped to strongly build brands such as Sperry Top-Sider and Stuart Weitzman, will act as the new chief executive of Crocs, starting in late January. He takes the place left vacant by the retirement of John McCarvel last spring.Andrew Rees will remain president and ...
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Li Ning will raise new capital to support growth
Li Ning has announced plans to raise between $1,517.7 million Hong Kong dollars (€159.9m-$195.5m) and HK$1,694.9 million (€178.4m-$218.4m) from its shareholders, giving them a choice between purchasing ordinary shares or convertible securities. The Chinese sports brands said that the gross proceeds from the open offer would be used to support its ...
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Bread & Butter is cancelled
Karl-Heinz Müller announced on Dec. 9 the cancellation of the Jan. 19-21, 2015 edition of Bread & Butter, the alternative show for trendy brands that he had founded 14 years ago. Seven days later, on Dec. 16, the organizing company, Bread & Butter GmbH & Co. KG, filed for insolvency, ...
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Ispo Munich expands outdoor and other segments
The Ispo Munich show will again have a full house on Feb. 5-8 with more than 2,500 exhibitors from over 50 countries on 180,000 square meters of exhibition space. There will be interesting novelties in the outdoor, fitness, action sports and textiles areas.With a new Ispo Outdoor Lounge in Hall ...
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Puma partners with Rihanna
Confirming a strong rumor, Puma and Rihanna have announced a new multi-year partnership, starting in January 2015. The seven-time Grammy Award winner will become the global brand ambassador for Puma's women's training category. As part of the deal, she will also serve as the brand's creative director, to further develop ...
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Foot Locker posts excellent results
Net earnings rose by 15.4 percent to $120.0 million at Foot Locker in the third quarter ended Nov. 1 on 6.7 percent higher revenues of $1,731 million. Excluding $1 million in integration costs for Runners Point and other special charges, earnings per share jumped by 22.1 percent, beating analysts' estimates. ...
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Foot Locker and Nike target women
The much-awaited release of our special report on women's attitudes toward the purchase of sporting goods coincides with the launch of interesting new retail projects at Foot Locker and Nike, as well as the previously reported investments being made by Under Armour and other sports brands in this growing market ...
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Mikkola replaces Jost at the top of Intersport International
In a widely expected move, the board of management of Intersport International Corporation elected Jussi Mikkola from Finland as its new chairman at a meeting in Zurich on Dec. 2, replacing Klaus Jost from Germany. He will serve in the position until at least the meeting of the general assembly of ...
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Intersport buys largest member in East Germany
Intersport Germany has agreed to buy its largest member, in terms of number of points of sale, in the former East Germany. Wolfgang Rossow, founder and managing partner of Sportpoint Holding, is selling his shares to Intercontact Beteiligungsgesellschaft. This company is the holding company through which Intersport entirely or partly ...
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Tecnica is selling Dolomite
The Tecnica Group has signed an agreement in principle to sell its Dolomite brand to an American equity fund, Symphony Global Brands of Washington, D.C., at a basic price of €6.7 million, plus the value of its inventories and other assets. Officials of the Italian company cautioned that the deal ...
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Reebok buys Luta Sportswear
Reebok International has announced a long-term partnership with Fight for Peace, a non-profit organization combining boxing and martial arts with education and personal development. The partnership also involves the acquisition of Luta, the boxing and martial arts brand that supports Fight for Peace financially. Luta produces high-end, “socially responsible” sportswear ...
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Rossignol works with Sandbridge on apparel
Groupe Rossignol has announced the acquisition of a minority share in the company by an American investment fund, Sandbridge Capital, which will help the group to develop its strategy in the apparel sector. According to a spokesman, Sandbridge is acquiring a stake of between 5 and 10 percent in Rossignol ...
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New generation re-launches Five Seasons with big goals
The Swedish brand of value-priced sports apparel is being re-launched with a new logo, a new fashion-oriented collection and a stronger focus on large key accounts all over Europe. Five Seasons has also signed new agency and distribution contracts with experienced partners in Central Europe.It's all part of a three-year ...
