Latest Headlines – Page 306
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Intersport goes online in Finland
The Intersport operations run by the Kesko group in Finland and Russia reported lower revenues for the third quarter ended Sept. 30. They were down by 4.1 percent to €48 million in Finland and by 7.8 percent to €4 million in Russia. A higher drop of 19.3 percent to €72 ...
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Go Sport reports 6.4% higher sales
Groupe Go Sport, which is in line to exit the French Bourse, continued to gain some ground in the third quarter ended Sept. 30. Its sales increased by 5.1 percent to €171.5 million during the period, despite a 1.4 percent drop in Poland, down to €13.8 million. The Go Sport ...
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New heads for Karstadt and Kaufhof ahead of a possible merger
Both of the major German department store chains have come under new management, fueling long-standing speculation that they may at some point come under joint ownership. Exploratory talks have already started, according to Metro Group, which owns Kaufhof. Both chains are heavily involved in the sporting goods sector.There is speculation ...
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Declining share prices for Zalando and Rocket Internet
We are still wondering whether a new “internet bubble” is emerging in the world of e-commerce, although the equity market in general has weakened. Zalando had a strong start on the Frankfurt Stock Exchange on Oct. 1, with a jump of up to 30 percent in early trading from the ...
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Quiksilver makes major leadership changes
Bob McKnight, the executive chairman of Quiksilver Inc. and one of the original founders of the company, has announced that he will be retiring from his position on Oct. 31, after more than 38 years of service. McKnight, who still has a stake of around 2 percent in the company, ...
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Is Adidas going to sell Reebok?
The Adidas Group is already considering the sale of Rockport, as we have previously reported, and according to Footwear News, a candidate for the acquisition could be New Balance. The German group may now be faced with the dilemma of whether it should also divest the Reebok brand. According to ...
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Sport does better than luxury at Kering
Kering's Luxury Goods division improved its sales by 3.7 percent to €1,676.6 million in the third quarter, with growth of 3.5 percent on a comparable basis. Kering's biggest luxury brand, Gucci, saw its sales decline by 1.6 percent in euros and by 1.9 percent on a currency-neutral basis (more details ...
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Under Armour posts 30% sales growth
Under Armour reported net revenues of $938 million for the third quarter ended Sept. 30, marking an exceptionally strong 30 percent increase compared with the previous year's period, with impressive jumps of 94 percent for international revenues and 51 percent in footwear. Net income rose by 22 percent to $89 ...
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Amer improves, generally
The sales and profit picture was mixed at Amer Sports across the brands and the regions in the third quarter ended on Sept. 30. Overall, the group booked a 6.1 percent sales increase to €645.8 million for the period, or by 6.0 percent in local currencies, but net earnings slid ...
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Slow sports growth at Jarden
For the three months ended Sept. 30, Jarden Corp.'s Outdoor Solutions business posted sales of $679.1 million, up by just 1.2 percent from the third quarter of 2013, and the operating profit of the segment fell by 1 percent to $66.4 million. Among the drivers for the continued sales growth ...
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Columbia rises by 14% organically
Columbia Sportswear's sales were flat on a constant-currency basis in Europe, the Middle East and Africa (EMEA) during the third quarter ended Sept. 30. In terms of dollars, EMEA sales increased by 1 percent to $78.8 million. The group's revenues were up in dollars by 26 percent in the U.S. ...
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Timberland performs better than TNF or Vans
Timberland was the star performer at VF Corporation in the third quarter ended Sept. 30, while The North Face and Vans did not do as well as expected. Globally, Timberland's sales increased by 15 percent during the quarter, in contrast with increases of 9 percent at TNF and 12 percent ...
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Lafuma declines by 12.4%
Sales were off by 18.7 percent to €132.2 million for the Lafuma Group in the first nine months of this year, with a 12.4 percent decline in local currencies. Its new shareholders indicate that the drop was in line with its strategic plan, which gives priority to its profitability. No ...
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Bushnell is doing well and ATK may keep it
Alliant Techsystems (ATK) is reviewing a plan to spin off Bushnell and the other parts of its Sporting Goods segment to a new publicly trade company controlled by its shareholders. Called Vista Outdoor, the new company was going to start trading in January. However, ATK said last Wednesday that it ...
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Safilo wants to turn Smith into a more global brand
Safilo has announced a thorough restructuring of its Smith Optics subsidiary in the U.S. with the objective of turning it into a global brand. The move will lead to further integration with the Safilo group and the closure of Smith's headquarters in Ketchum, Idaho, which has a staff of about ...
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Callaway reduces its losses, raises guidance
Callaway Golf reported a 5 percent drop in sales to $169 million for the third quarter, attributing the decline to continued industry softness and a strategic change in the timing for new product launches as compared to the same period last year. In local currencies, sales were down by 14 ...
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Fletcher appoints a new president
Fletcher Sport Brands (FSB) has appointed Conrad Tappert as president, effective Oct. 20. Tappert will be in charge of the Canadian-based company's Sunice and AUR operations globally. He succeeds Mark Fletcher, who decided to leave the company formerly controlled by his family to pursue other opportunities after 21 years at ...
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Garmin is up 43% in fitness
Garmin saw revenues grow by 10 percent to $706 million in the third quarter ended Sept. 30, with double-digit increases in four of five reporting segments, led by the Fitness sector. The gross margin increased to 56 percent from 55 percent in the quarter of the previous year. Operating income ...
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Good results for Shimano
The depreciation of the yen boosted Shimano's exports and its overall sales and profit results for the nine months ended Sept. 30. Total revenues went up by 20.8 percent to 241 billion yen (€1.7bn-$2.1bn) during the period, with increases of 23.4 percent in bike components and 10.6 percent in fishing ...
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...not so good for Rapala
In contrast with Shimano, Rapala VMC suffered a 5 percent drop in its turnover to €211.7 million in the first nine months of this year. The operating margin fell to 10.3 percent from 11.0 percent in the year-ago period, due in part to exchange rates and the last stage of ...
