Latest Headlines – Page 329
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Nike targets $36 billion by 2016/17
Announcing a new sales target, Nike told investors at a recent conference that it plans to reach an annual group turnover of $36 billion by May 2017. This would imply compound annual growth of 9.2 percent, at the high end of its most recent guidance. The company expects to reach ...
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Adidas centralizes management roles
Adidas Group is creating a new structure for Western Europe, while combining the management of the Adidas and Reebok brands in North America. Observers point out that the group has been under performing in both markets lately.Gil Stayaert will act as managing director of the new Western Europe unit from ...
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Adidas puts big money into Italian football
Adidas' only major football property in Italy was the AC Milan team, but the Big a and the Swoosh will each sponsor two important Italian football teams over the next few years. Without commenting on its financial arrangements, Adidas confirms that it will replace Nike as the new technical sponsor ...
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Kering’s Sport & Lifestyle segment is struggling
In disclosing its sales results for the third quarter ended Sept. 30, Kering yesterday reported a 0.9 percent drop in the sales of its Sport & Lifestyle Division for the period on a currency-neutral basis. Sales increased by 2 percent for Volcom but were off by 0.8 percent for Puma. ...
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Rossignol introduces e-commerce site
Rossignol has launched a new e-commerce platform that is closely connected to its retail network. Customers can buy online any of the products from Rossignol's collections to be delivered to their homes for a fee or pick them up for free at any of a selected number of partner stores. ...
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Good growth for Amer
The parent company of Salomon, Atomic, Arc'teryx, Wilson, Precor, Suunto and other sports brands managed to raise its total revenues by 7 percent in local currencies during the quarter ended Sept. 30, driven by increases of 19 percent in apparel, 15 percent in sports instruments, 11 percent for footwear, 10 ...
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VF reinvests extra profits in marketing
The American conglomerate has done it before. While reporting better-than-expected results for the third quarter, VF Corp. announced that it had decided to reinvest a further $40 million in marketing during the second half of this year. It has already allocated $10 million to the third quarter. The balance will ...
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Callaway Golf makes big strides in the quarter
Excluding structural changes and foreign currency movements, Callaway Golf's sales shot up by 38 percent in the third quarter ended Sept. 30, with impressive gains of 33 percent in the U.S., 52 percent in Europe, 47 percent in Japan and 45 percent in the rest of Asia. In reported terms, ...
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Columbia is optimistic
Announcing a 14 percent increase in its quarterly dividends, Columbia Sportswear's board of directors was said to be confident in better results going forward. In fact, while they were still largely negative, the results released for the third quarter ended on Sept. 30 were better than forecast, due especially to ...
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Under Armour grows faster than expected
Under Armour upgraded its guidance once again after posting a better-than-expected 26.9 percent increase in net income to $72.8 million for the third quarter ended Sept. 30 on 25.7 percent higher overall revenues of $723.1 million. Gross margins fell slightly to 48.4 percent, but operating earnings increased by 33.0 percent ...
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Calida wants control of Lafuma
The Calida Group of Switzerland first invested in Groupe Lafuma last January by acquiring 15.3 percent of the shares and 12.99 percent of the votes at the shareholders' meeting from the family of its chief executive, Philippe Joffard, who has since left. Calida has now proposed to take over Lafuma's ...
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Extra-large growth and targets for XXL
While several Scandinavian sports and outdoor retailers are under pressure, XXL Sport & Villmark has set itself a target to reach sales of 4 billion Norwegian kroner (€491.9m-$663.8m) this year, compared with NOK 3.1 billion in 2012. That was already an increase of nearly 26 percent, while the retailer's operating ...
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Wolverine reports record results, sees big growth ahead
Wolverine Worldwide is projecting an increase in its total reported sales to about $4.1 billion by 2018 from around €2.7 billion this year, implying an annual growth rate of around 8.5 percent. This doesn't include the revenues of its licensees around the world.Together, its two biggest brands, Merrell and Sperry ...
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Focus on Eastern Europe
Eastern Europe has been drawing increasing investment from outdoor companies in the last two years. Yet, two decades after they opened up, some of the markets in this region remain unsettled, requiring a well-informed approach for the outdoor brands to achieve better penetration.Their dynamics and prospects are analyzed in detail ...
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Black Diamond launches many innovations – and announces a recall
Black Diamond is serious about putting together a striking collection of technical snow sports and outdoor apparel. The company has partnered with two top suppliers in the industry, Schoeller and W.L. Gore & Associates.Schoeller, the Swiss manufacturer of high performance fabrics, will supply the U.S. brand with its latest materials ...
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Europe shines again for Nike, not yet China
About 18 months after the start of its European restructuring plan, the Nike Group appears to be entirely back on track in Europe, as its sales increased robustly in nearly all parts of the continent for the quarter to the end of August. The European upswing was part of a ...
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Adidas lowers its guidance again, promotes Auschel
Roland Auschel, chief sales officer of Adidas AG in charge of wholesale operations, became a member of the company's executive board on Oct. 1, with responsibility for global sales through all kinds of channels. Michael Stanier, chief consumer-direct sales officer, and Harm Ohlmeyer, chief e-commerce officer, will report into Auschel ...
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Karstadt Sports falls under new ownership amid rumors on merger with Kaufhof
Nicolas Berggruen, the entrepreneur who acquired Karstadt out of bankruptcy proceedings in 2010, has sold a substantial part of the German department store company's assets to Signa Holding, a Vienna-based investment company specializing in real estate. The deal comprises the sale of 75.1 percent of the shares in Karstadt Sports, the company that ...
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Intersport paves the way for a new Central European conglomerate
The Austrian and German shareholders of Intersport have merged their respective cooperatives into a single organization that groups independent sports retailers in Austria, Poland, the Czech Republic, Slovakia and Hungary. The original plan was for Intersport Germany to take a majority stake of at least 70 percent in a financially weakened Intersport ...
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SDI makes first major adjustments to its Austrian strategy
Sports Direct International (SDI) is now following up on its financial intervention at SSG, the parent company of Sport Eybl & Sports Experts, the big Austrian retailer, to revitalize the ailing company and reshape it. The British retailer and brands owner bought a strategic stake in that company in June.Basically, ...
