Latest Headlines – Page 312
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Adidas cuts targets
Uncertainties in Russia and the weakness of the golf market prompted the Adidas Group to issue a profit warning today and to postpone the delivery of the targets set out in its Route 2015 plan. The company said this strategic decision will be accompanied by investments and other measures to ...
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Puma on track to start its turnaround
Just a few days before the planned start of a large-scale advertising campaign under the Forever Faster tagline, Puma put out figures that were roughly in line with its guidance for the second quarter, badly affected by exchange rate changes but still displaying a slight increase in comparable sales and ...
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Go Sport seeks ways out of its losses
Groupe Go Sport, the third-largest sporting goods retailer in France after Décathlon and Intersport, is engaging in new initiatives, including the planned launch of an internet marketplace, to help boost its lingering revenues and to reduce its chronic losses.Go Sport's new marketplace should be the first of the kind in ...
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SDI buys golf and fitness assets
Sports Direct International (SDI) is continuing to invest in various sports categories through acquisitions as well as partnerships. The leading British sports retailer has just bought a unspecified stake in Direct Golf UK, a leading British golf retailer, which should help to fund its expansion into Europe. John Andrew, a ...
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Accell sells fitness division, lifts bike sales
Warm spring weather in Europe along with robust demand for electric bicycles and high-end sports bikes again lifted half-year sales and profits at Accell Group, the Dutch company that owns Batavus, Sparta, Koga, Raleigh and Lapierre, among other bicycle brands.Accell raised its sales by just 0.5 percent to €506.2 million ...
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Brunswick cashes out of bowling
Brunswick Corporation has agreed to sell its 85 bowling centers in the U.S. and Canada to Bowlmor AMF for $270 million. The company had already divested its European retail centers last year. Brunswick has also hired Lazard to find a suitable buyer for its strong and profitable global bowling products ...
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Amer starts ball sports restructuring
Amer Sports, the multi-brand Finnish sports company, said it was starting the second part of its restructuring measures by easing the turnaround of its ball sports business and putting more resources behind strategic categories such as apparel and footwear, own retail sales and digital products.The company said that the measures ...
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Callaway gains market shares
Callaway Golf Company has reported a 7.1 percent decline in its revenues for the second quarter, down to $231.9 million, leading to a 63.7 percent drop in net earnings to $3.37 million for the period. The performance was worse than analysts were expecting, but the management indicated that Callaway scored ...
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Europe and footwear lift Columbia
A rebound in European sales helped Columbia Sportswear to post a 15.6 percent increase in total revenues to $324.2 million for the second quarter ended June 30. For the whole Europe, Middle East and Africa (EMEA) region, they were up by 39.1 percent to $72.9 million in the quarter, with ...
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Jarden posts some growth in outdoor
For the second quarter ended June 30, Jarden Corporation, owners of Coleman, K2, Marker, Shakespeare, Völkl and many other sports and outdoor brands, reported a marginal sales increase in its Outdoor Solution segment to $754.9 million from $741.1 million in the same period of a year ago. Particular strength was ...
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Lafuma's sales shrink as it targets more profits
The Lafuma Group suffered a sales decline of 11.2 percent to €85.5 million for the first half of this year, amounting to a decrease of 10.2 percent in constant currencies and based on comparable activities. This comes after the Calida Group from Switzerland, which became the majority shareholder in the ...
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Deckers grows by 24.3%
Deckers Outdoor Corporation, which recently changed its fiscal year-end to March, has raised its outlook for sales and earnings in the current financial year after reporting a 24.3 percent boost in total revenues to $211.5 million for its first quarter ended on June 30. All its main brands contributed to ...
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Shoes and international pull Under Armour
Largely exceeding expectations, Under Armour announced a 34.1 percent jump in its revenues to $609.7 million for the second quarter, leading the management to forecast an increase of between 28 and 29 percent for the full year to a range of $2.98 billion to $3.0 billion.Operating income is projected to ...
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Skechers surprises analysts
On average, financial analysts were anticipating a turnover of $508 million for the second quarter, but Skechers USA reported sales of $587.1 million for the period, up by 37.1 percent from the year-ago period. Net earnings beat their most optimistic projections by a long shot, recording a jump of 439 ...
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Crocs streamlines
Six months after receiving a $200 million investment from the Blackstone Group, Crocs announced a major strategic performance improvement plan revolving around four key initiatives:(1) streamlining the global product and marketing portfolio,(2) reducing direct investment in smaller geographic markets,(3) creating a more efficient organizational structure including reducing duplication and excess ...
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Europe is a bright spot in Crocs' revenues
Crocs saw its revenues increase by 3.6 percent to $376.9 million in the second quarter ended June 30, in line with the company's expectations. On a constant currency basis, they went up by 3.5 percent. For the three months, the company posted a net income of $19.5 million, down from ...
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Li Ning warns about wider losses
Li Ning, which has been implementing far-reaching reforms to deal with market pressure in China in the last two years, has warned that it stands to report a deeper-than-expected loss for the first six months of this year. Based on the unaudited results at the management's disposal, the loss attributable ...
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Timberland names Whitney as new brand president
Timberland has promoted Stewart Whitney, who is currently vice president and managing director for the Timberland and Napapijri brands in Asia, to brand president effective Oct. 5, 2014. Whitney will report to Patrik Frisk, who has held what is to become Whitney's new position since the brand's acquisition by VF ...
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Acquisitions and expansion inflate SDI sales
Several acquisitions, expansion into two more European countries and an open dispute with a heavyweight in the industry: all in the same fiscal year for Sports Direct International (SDI), the British and increasingly European sports retailer and supplier, which has again delivered sizable increases in both sales and profit for ...
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Adidas holds productive discussions with SDI
Adidas said it had reintroduced some unspecified products at Sports Direct stores, after “productive discussions” with the retailer. The two had been at loggerheads since Adidas decided earlier this year to no longer supply Sports Direct with upmarket replica shirts. David Forsey, chief executive of Sports Direct International (SDI), agreed ...
