Latest Headlines – Page 331
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Foot Locker disappoints analysts
Foot Locker raised sales and profits strongly for the second quarter ended on Aug. 3, although analysts had expected a slightly better performance. The market was said to have been more challenging than expected, especially in the U.S.Thanks in part to the acquisition of Runners Point in Germany one month ...
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ABG buys Spyder, licences Li & Fung
Authentic Brands Group (ABG) has completed the acquisition of Spyder Active Sports, the snow-wear brand from Boulder, Colorado, for an undisclosed price, from the private equity firm Apax Partners, which had bought the brand in 2004 for about $100 million. In connection with the acquisition, ABG and LF USA, the ...
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Dorel acquires Brazil's major bike firm
Dorel Industries, the Canadian group that owns bicycle brands from Cannondale to Schwinn, Mongoose and more, said it had acquired 70 percent of Caloi, the leading Brazilian bicycle maker. Caloi sells about one million bicycles in Brazil annually, amounting to an estimated 40 percent of the market in value, and ...
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New boss for Derby Cycle
Mathias Seidler, who built up Derby Cycle in the last 12 years, will relinquish his chief executive's seat at the end of September, roughly two years after the company was acquired by the Pon Group in the Netherlands. The job will be taken over by Thomas Raith, former managing director ...
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Billabong is in play again
Financial restructuring moves led to a large loss for Billabong International in the fiscal year until the end of June, and the Australian company's board is now rethinking a rescue package approved in July, yet again considering yet again an alternative takeover offer.The net loss reached 859.5 million Australian dollars (€597.4m-$788.3m), predominantly due ...
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Globe posts a loss on the back of one-off costs
Globe International reported a consolidated net loss of 6.0 million Australian dollars (€4.0m-$5.3m) for the financial year ended June 30, 2013, after impairing intangibles of A$0.8 million (€0.54m-$0.71), as compared to the net profit of A$0.1 million (€0.07m-$0.09m) reported for the previous financial year. Financial results were impacted by restructuring and a ...
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Moncler prepares for the stock exchange
Moncler, the upscale brand of down jackets and other fashionable sports and leisurewear, might be listed on Milan Stock Exchange as from November or by the end of the year. According to Il Sole 24 Ore, the important Italian financial daily newspaper, the company should submit the necessary documents to ...
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Rottefella tightens grip on costs as sales shrink
Rottefella, the Norwegian group specialized in cross-country ski bindings, saw its sales shrink by 32.2 percent to about 160 million Norwegian kroner (€19.8m-$26.1m) in 2012, after a sharp rise in the two previous years. But Christer Johnsen, the company's chief executive, said in an interview with Sportbransjen that the group's managers ...
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Peak Performance improves margins on lower sales
Peak Performance, the Swedish ski, outdoor and golf apparel brand, saw its sales decline by about 5 percent to the equivalent of 931 million Danish kroner (€124.8m-$164.9m) for the fiscal year until the end of June, but its operating profit rose sharply on the back of improved purchasing and sourcing.IC Companys, ...
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Sluggish Nordic markets affect New Wave’s sports brands
Weak demand in the Nordics and some other European countries hurt sales at the Sport & Leisure unit of the New Wave Group, which declined by 6.6 percent in the second quarter of 2013 to 442 million Swedish kronor (€50.5m-$66.8m). The unit includes the Craft and Cutter&Buck brands along with licenses ...
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Big loss for Li Ning
Li Ning said that the impact of its wide-ranging restructuring measures and investments should start to become apparent in the second half of this year, but the Chinese group suffered yet another sharp drop in sales and a whopping loss in the first half.The group's sales slumped by 24.6 percent ...
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Exceed may go private
Shuipan Lin, the founder and chief executive of Exceed Company, has put forward a non-binding proposal with several partners to acquire all of the outstanding shares they do not own in the company. The offer came just days after the Chinese company, which owns the Xidelong brand, put out unflattering ...
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Big drops for 361 Degrees
361 Degrees was no exception to the string of ghastly half-year reports that came from the Chinese sports market in the last days: The Chinese company's sales crashed by 30.4 percent to 1,998.2 million yuan renminbi (€247.1m-$326.7m) and its operating profit collapsed by 52.5 percent to RMB306.1 million (€37.9m-$50.0m) for the six ...
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Yue Yuen predicts a recovery in 2014
Wage hikes in Indonesia and retail discounts in China contributed to a sharp decline in the net profit of Yue Yuen Industrial (Holding) for the first six months of the year. The footwear manufacturing giant predicted that 2013 would be a year of consolidation but that a new era of ...
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Easton-Bell’s results are impacted by one-time costs
Easton-Bell Sports reported net sales of $201.6 million for the second quarter ended June 29, a decrease of 5.8 percent as compared to the second quarter of 2012, primarily due to lower sales of hockey equipment and the company's exit from non-core fitness products. The California-based group, which has 35 ...
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Bikes and accessories make up for 14% of the global sports market
NPD Group estimates that the worldwide cycling market was worth €38.5 billion after VAT at retail level in 2012. The data, reported by Bike Europe, also show that cycling, including bike parts and accessories as well as the sale of bicycles for day-to-day transportation, represents the biggest single category in the ...
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A good Eurobike show
Eurobike 2013, which took place in Friedrichshafen, Germany on Aug. 28-31, registered a higher attendance than last year, with 45,200 visitors versus 43,700 in 2012. They came from 111 countries, up from 97 last year. The foreign share was 56 percent. The business mood at the fair was said to ...
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B. Robinson licenses Revo from its new owners
B. Robinson is more or less doubling in size by taking on the global license for Revo sunglasses and related products. The deal follows the acquisition of the Revo brand from Oakley and its parent company, Luxottica, by an American firm, Sequential Brands Group, that specializes in marketing and licensing ...
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Intersport and Matalan join forces in the U.K.
Matalan Retail is launching a new chain of sporting goods stores in the U.K. called Intersport Sporting Pro. Headed up by Tom Knight, the former chief executive of JJB Sports, the new chain plans to have 15 stores in place at key mall and street locations all the over country ...
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New boss for The Athlete’s Foot
Intersport International Corp. announced last Friday the appointment of Ingmar Kraak as the new global chief executive of The Athlete's Foot, the big U.S.-based franchising operation for athletic footwear that it took over last December. Based at IIC's head office in Bern, Switzerland, he will take up the new position ...
