Latest Headlines – Page 305
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Strategic rethink at Adidas Group
Under pressure to regain the confidence of investors, the Adidas Group's management said it has taken extra measures to “aggressively” tackle the issues that have been affecting its earnings and share price this year. The moves will focus on scaling back Russian investments, cleaning up golf inventories and regaining share ...
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Shrinking profit at Adidas Group despite robust demand
The Adidas Group enjoyed robust sales increases in all regions other than North America in the third quarter, where the clean-up of its golf business led to a sharp sales decline at Taylor Made Adidas Golf. Along with unfavorable exchange rates and Russian discounts, the weakness of the group's golf ...
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Puma on track for turnaround
While his colleague across the river refused to talk about Adidas Group's divestiture of Reebok, the new chief executive of Puma, Bjørn Gulden, declined to comment on recent speculation that its parent company, Kering, may want to sell its 86 stake in the Wild Cat. Observers feel that VF Corp. ...
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Asics reports a net profit margin of 9.2%
Asics reported that its sales reached 265,097 million yen (€1,843.89m-$2,291.88m) for what it described as its second quarter but in fact amounts to six or nine months until the end of September (depending on the subsidiaries). The discrepancy is due to a change in the fiscal year, which is preventing ...
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Asics accelerates in Europe
Asics Europe reports a 12 percent currency-neutral sales increase across the Europe, Middle East and Africa (EMEA) region for the first nine months ended Sept. 30, excluding Haglöfs. Sales were up by 13 percent in running shoes and by 31 percent in running apparel, with particularly strong growth in the ...
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Mizuno performs well in Europe
Currency-neutral increases of 7.2 percent in Europe and 73.5 percent in Asia-Pacific outside Japan partly offset declines of 4.8 percent in Japan and 11.1 percent in the Americas for Mizuno Corp. in the first six months of its financial year, ended Sept. 30. Globally, sales increased by 1.9 percent in ...
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Strong progress for Basicnet
Basicnet, parent company of Kappa, K-Way, Superga and other brands, has reported a 9.42 percent increase in the aggregate sales of its licensees to €355 million for the first nine months ended Sept. 30. Basicnet says it corresponds to retail sales of about €630 million.Sales increased in the period by ...
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Head shows some improvement, may go private soon
Head has scheduled a private general shareholders' meeting on Dec. 3 in Amsterdam to vote on a proposal to draw on its reserves to increase its share capital. The purpose of the resolution is to avoid the company's delisting from the Vienna Stock Exchange after Dec. 31 as the capital ...
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Dorel’s bike segment rises by 6%
Dorel Industries' Cannondale Sports Group (CSG) enjoyed strong growth in the U.K., the rest of Europe and Japan, contributing to a 6 percent organic sales increase for the third quarter in Dorel's bicycle group, which also includes the more mass-market-oriented Pacific Cycle segment. In reported dollars, the Recreational/Leisure segment of ...
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Black Diamond posts 24% sales growth
Black Diamond Equipment reported a 24 percent increase in sales to $54.9 million for the third quarter ended Sept. 30, driven by its Poc and Black Diamond brands as well as an increased fulfillment of pre-season autumn bookings. The net loss from continuing operations was $0.4 million, compared with $3.6 ...
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Investcorp buys Dainese
Investcorp, the large private equity company, has acquired a majority stake in Dainese, the Italian company that is well known for the quality and innovation of its back protectors and other protection and safety solutions for motorcycling, skiing and other dynamic sports. The takeover places an enteprise value of €130 million ...
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Former Puma product chief takes the helm at Jack Wolfskin
Michael Rupp is unexpectedly leaving Jack Wolfskin after less than two years at the helm of the German outdoor company, to be replaced with Melody Harris-Jensbach, a former board member in charge of product at Puma and chief product officer at Esprit.The company said that Rupp had decided not to ...
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Kjus boosts management
Kjus has boosted its design, product management and marketing unit run by Nico Serena, by appointing three experienced professionals. Terence Sanford, a British national, is joining the Swiss-based company as its new head of design. A Swiss manager, Tom Schumacher, is being placed in charge of the accessories department, and ...
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Moncler is sues an Italian TV program over unethical goose farming
Moncler lost around €140 million in market capitalization on Nov. 3 as its shares plunged by almost 5 percent following the broadcast of an investigative report by an Italian TV program a day earlier. The journalists of the “Report” program on Rai 3, one of the country's state broadcaster's channels, ...
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Two Spanish buying groups will buy jointly
Two Spanish buying groups, Twinner Iberica and Giro 180, announced last week their decision to join forces in purchasing as a first step toward a possible closer future cooperation. They will continue to work independently of each other. It could not be determined whether this will allow their retail members ...
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Industry experts team up to internationalize Urban Jungle
Urban Jungle International, a new company established by a team of experienced managers, is launching an international athletic specialty store concept with a unique identity that is intended to combine “style, voice (music), design and purpose” to capture the mood and spirit of its young customer base, according to a ...
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Hi-Tec launches documentary series
Hi-Tec is launching “The Walkumentary Series,” an online documentary project conceived and produced by This that + the other, an Amsterdam-based advertising agency. The films focus on how walking can lead to extraordinary things and the importance of taking time away from everyday life. Each film views walking from a different ...
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Implus has acquired Trigger Point Performance
Implus has announced the acquisition of Trigger Point Performance. The price of the transaction was not disclosed. Trigger Point makes self-care products for athletes, including Grid foam rollers. Trigger Point Performance was founded in 2002 by Cassidy Phillips, a sport enthusiast and accomplished triathlete.Implus said the addition of the Trigger ...
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Fesi opens up to retailers
In a momentous move, the Federation of the European Sporting Goods Industry (Fesi) decided to admit retailers as members of the organization at its annual meeting in Amsterdam on Oct. 20-21. Pointing out that the decision was taken after a lot of debate and planning, Luca Businaro, the new president ...
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XXL continues to expand
Shares in XXL ASA opened at a price of 65.50 Norwegian kroner today, close to a high of NOK66.75 registered since the fast-growing Nordic sporting goods retailer began trading at a lower price of NOK58 on the Oslo Stock Exchange last Oct. 3. The initial trading in the shares had been ...
