Latest Headlines – Page 336
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Foot Locker is set to buy Runners Point
Here is one more transatlantic acquisition in the footwear and sporting goods retail sectors after the recent takeover of the British Schuh retail chain by Genesco, Kurt Geiger of the U.K. by the Jones Group and Blue Tomato of Austria by Zumiez – and in the reverse, of The Athlete's ...
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Décathlon interests make a run at a U.S. chain
Olivier Leclercq, whose family owns 42 percent of Oxylane, parent company of Décathlon, has apparently made an unspecified personal investment in Sport Chalet, sending its stockmarket value up by 31 percent last Friday. Insiders control 68 percent of the shares in this big American sporting goods retail chain, which has ...
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Dosenbach-Ochsner posts satisfactory results
Switzerland's leading shoe and sporting goods retailer, which trades under the Dosenbach, Ochsner Sport, Ochsner Shoes and Dosenbach+Sport banners, increased its total sales by 2.5 percent last year to 893 million Swiss francs (€719.0m-$932.9m). Dosenbach-Ochsner is the Swiss subsidiary of Deichmann, Europe's largest shoe retail company, and it has been exploring ...
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Adidas Group delivers higher profits despite flat sales
The Adidas Group said that it would focus on profit margins this year, and so far it has delivered. While its sales were flat in terms of local currencies in the first quarter, the company achieved a gross margin of 50.1 percent, up by 2.4 percentage points from the same ...
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Adidas discusses Bangladesh and Bayern Munich
The ample margins obtained by the Adidas Group in the first quarter provoked sharp questions in a conference call with journalists about the distribution of profits in the supply chain, particularly after the collapse of a building with apparel manufacturing facilities in Bangladesh (see the related story further down in ...
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Growing unrest ahead of new labor guidelines in Bangladesh
The Bangladesh Garment Manufacturers and Exporters Association announced yesterday that its members are closing down all the 300-odd factories in the industrial belt of Savar-Ashulia because of escalating labor unrest. Local authorities had already shut down more than 100 apparel factories in this area near the nation's capital last Sunday, ...
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Weigl is Adidas’ new sports marketing czar
Jimmy Weigl, currently managing director for the Adidas Group in Central Europe, is to take the helm of the group's global sports marketing and sports relations, following Michael Riehl's sudden death from cancer last month at the age of 56. Riehl has held the job since 2001 and was a ...
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Puma impatiently awaits fresh leadership after a “rough” quarter
Puma downgraded its forecasts for this year after what it described as a “rough quarter” with shrinking sales and profits to start the year. However, Puma emphasized that it was forging ahead with its reorganization and pinning strong hopes on its new chief executive, Björn Gulden, who will take charge ...
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Herzogenaurach invests in English football
The West Ham United football club has confirmed reports that Adidas will became its official technical supplier as of June 1, taking the place of Italy's Macron. The contract runs for the moment until the end of the 2014/15 season and is said to be “lucrative.” Adidas was already the ...
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Asics grabs market share in Europe
Asics estimates that it enlarged its share again in the European footwear market last year, as its turnover in the Europe, Middle East and Africa region jumped by 9 percent to about €600 million. The increase excludes changes in currency exchange rates as well as Haglöfs, the Swedish outdoor brand ...
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Elan resumes talks after failed sale
Elan has resumed talks with potential buyers after the failure of negotiations with Argus Capital, an investment firm that had sealed an agreement in principle last January to take over the Slovenian ski company from government-related entities. The investment firm apparently gave up on the acquisition after a more detailed ...
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Look Cycle looks for investors and new activities
Look Cycle has mandated a financial adviser, Bryan Garnier, to examine ways in which it can raise more capital to implement a plan to more than double its annual sales to around €100 million through acquisitions or through a diversification into other sectors such as billiards, tennis or golf equipment. ...
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Sergio Tacchini restructures, signs new licenses
Sergio Tacchini International has been placed in voluntary liquidation. The move was explained as a necessary prelude to a reorganization of the company based on a licensing model, starting with the spring/summer 2014 collections. The new company is going to concentrate on design, product development and marketing.The Tacchini group, which ...
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Head will redeem its bonds, despite a poor quarter
Head NV and its HTM Sport subsidiary will no longer be financed with bonds, but rather with bank financing. The two companies announced last May 6 their intention to redeem all their remaining senior notes on June 5. They would normally mature in 2014. The transaction is expected to cost ...
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Black Diamond posts 10% sales rise, despite colder late winter
Black Diamond Inc. reported total sales of $51.0 million for the first quarter ended March 31, representing a 10 percent increase on the first quarter of 2012. Sales went up by 6.9 percent to $20.1 million in the U.S. and by 11.9 percent to $30.9 million in other parts of ...
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Johnson Outdoors posts double-digit profit growth
Johnson Outdoors reported a 23 percent increase in net income to $8.9 million in the second fiscal quarter ended March 29, while sales grew by 3 percent to $132.1 million. Higher sales in Marine Electronics and Outdoor Gear more than offset revenue declines in other business units. Diving sales were ...
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Dorel’s bicycle segment declines
Dorel Industries reported first-quarter revenues of $203.5 million in its Recreational/Leisure division, down by 8 percent, ignoring varying exchange rates, after 13 consecutive quarters of growth. The division's gross profit fell by 12 percent to $51.3 million. Dorel's Recreational/Leisure segment includes cycling brands such as Cannondale, GT, Schwinn, Mongoose, Iron Horse, Pacific, ...
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Yue Yuen’s profit is cut in half
Yue Yuen Industrial Holdings reported yesterday a 49.9 percent drop to US$61.6 million in net profit attributable to the company's owners for the first quarter ended March 31 as compared to the same period a year ago. Its total turnover, which includes the retail revenues of Pou Sheng International, increased ...
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Norwegian consumers ignore sports banners
A survey conducted by Sportsbransjen, the Norwegian sporting goods industry association, has shown that the name of the retail store means relatively little to consumers in Norway. The survey asked 1,000 Norwegians about their attitudes toward the sporting goods chains. The results showed that the majority of consumers did not ...
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More real estate action in Oregon
On, the young Swiss brand of high-performance running shoes, has opened a U.S. sales office in the Pearl District of Portland, Oregon. It is headed up by Ted Goodlake, the brand's director of North American sales, who will be working with eight full-time employees and five independent sales reps. On ...
