Latest Headlines – Page 339
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Intersport Germany is in line to invest in Intersport Austria
Intersport Germany, the largest single cooperative of sporting goods retailers licensed by Intersport International Corporation (IIC), has signed a letter of intent for the acquisition of a majority stake in Intersport Austria, forming an even stronger supra-national nucleus within the organization.Together, Intersport Germany and Intersport Austria represent the interests of ...
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Eybl's chief resigns, speculation mounts about its fate
Rolf Frischknecht stepped down last week from his role as the only remaining member of the executive board of Sport Eybl & Sports Experts, along with Ewald Halbedl, managing director. The two have been replaced by a pair of top executives, Mike Weccardt and Hubert Schenk. Weccardt has been with ...
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Metro is happier with Kaufhof than with other parts of the family
It rarely happens that Metro AG, the big German cash & carry and retail operator, is pleased with the performance of Galeria Kaufhof, its chain of department stores and sports shops. But Olaf Koch, Metro's chief executive, even said this time, “Kaufhof was super.” As reported earlier this year, when ...
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China mars a robust quarter for Nike
Slumping sales in China were the most significant drag in yet another impressive quarter for the Nike brand. Its Chinese sales declined by 10 percent in constant currencies for the three months until the end of February, as the company continued to clean up inventories with discounts that battered its ...
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Buoyant racquet sports make up for a weak winter at Head
Head saw its sales inch up by 1.2 percent to €343.2 million last year, as buoyant sales of racquet sports products made up for a decline in the Austrian group's winter sports sales. Still, its turnover would have dropped by 1.6 percent in constant currencies.Sales of winter sports products were ...
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Elan's Austrian factory files for bankruptcy
The subsidiary of Elan that has been running its snowboard factory in Fürnitz has filed for bankruptcy. The plant, which employs 78 people, has suffered from heightened costs for raw materials and the loss of OEM production assignments. Reportedly, the manufacturing facility made only 10 percent of its volume with Elan-branded products, whereas ...
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Strong results for Swix despite weak winter
Despite a somewhat sluggish winter, Swix Sports recorded solid results and good growth during 2012. Swix achieved a turnover of NOK 689 million Norwegian kroner (€91.6m-$117.5m) in 2012 and Ebitda of NOK 51 million (€6.8m-$8.7m). The corresponding figures for Swix in 2011 were NOK 604 million and NOK 69 million, ...
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Li Ning posts its first loss since going public
Li Ning Company is moving ahead with fundamental adjustments to its sales and distribution structure, which pummeled the results of the leading Chinese sports group last year. It ended the year with a loss of 1,955.4 million yuan renminbi (€245m-$314m), compared with a profit of nearly RMB411 million in 2011.Li ...
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Belle’s sales rise more slowly and profit margins slip
Belle International Holdings, the leading footwear and sports retailer in China, lifted its sales by 13.5 percent to RMB32,859 million (€4,117m-$5,282m) last year, but the group's profit margins slipped as the retailer suffered from higher staff and rental costs.Belle is involved throughout the supply chain in the footwear market but ...
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China Dongxiang's sales drop by 35% but profit rises by 74%
China Dongxiang performed even worse than Li Ning Company in terms of revenues. It recorded a 35.4 percent decline in group sales to 1,772 million yuan renminbi (€222m-$285m) for the year ended last Dec. 31. Sales in Japan were down by only about 4 percent in yen. Instead, sales in China ...
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Chinese retailers urged to flatten supply chain
Chinese retail specialists are urging sports brands and their partners to flatten their supply chain in the Chinese market, as a means to reduce prices and to overcome the inventory issues that have been plaguing the market for the last two years.The advice was issued last month at the Sports ...
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Basicnet expands in Korea, incurs a loss
Acting through Basic Trademark SA, Basicnet has extended for ten years its licensing agreement in South Korea with Seoha Brand Networks for the Kappa and Robe di Kappa brands, with an option for renewal, at interesting conditions.Seoha, which belongs to the EXR Korea group, plans to raise the number of ...
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More reshuffling at Easton-Bell
Easton-Bell is going on with the reorganization of its management following the recent return of Terry Lee as executive chairman and chief executive. Mike Zlaket, who worked for the company for 22 years until 2011, returns as president of Easton Sports, replacing the departing Chris Zimmermann. Among other moves, Mark ...
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Former Nike man heads up Skullcandy
Skullcandy has appointed Hoby Darling, a Nike executive, as its new president and chief executive with immediate effect. The appointment comes less than two months after the U.S.-based headphone maker announced that former chief executive Jeremy Andrus had stepped down to pursue a job at a private-investment firm. Darling formally ...
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Scantrade takes over H2O in Scandinavia
Last year, the Danish sportswear brand H2O changed owners, as we reported at the time. It has now been decided that the Scantrade group will manage the brand in Sweden, Norway and Finland. It will have limited access to the related stock this summer and next autumn, but will begin ...
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PPR becomes Kering
Next June 18, the shareholders of PPR will vote at its annual meeting for a change in the company's name to Kering, marking the completion of its transformation into an international group of luxury, sport and lifestyle brands with a special corporate culture.Still controlled by the Pinault family, the French ...
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Adidas Group takes a financial hit for Reebok
The Adidas Group has taken a goodwill impairment charge of €265 million, finally acknowledging the reduced scope of the Reebok brand. This raised yet more questions about the prospects of the American brand, although the Adidas Group's managers insisted that Reebok should return to sales expansion in the second quarter ...
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But Adidas and Taylor Made are in top shape
While the impairment charge badly hit the Adidas Group's profit last year, the company's underlying performance remained robust, in terms of both sales and margins, albeit with a relatively weak last quarter.The group's turnover increased by 4.0 percent to €3,369 million for the quarter, a rise of just 1 percent ...
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Adidas details alleged fraud at Reebok India
The Adidas Group provided an update on the situation at Reebok India last week, paired with substantial details on the investigation into alleged irregularities at the company, which led to the sacking of its former managing director and chief operating officer last April.Herbert Hainer, the group's chief executive, said with ...
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German antitrust body investigates Adidas
The Adidas Group has confirmed that the selective distribution agreements it implemented from the start of this year in Germany were under investigation by the Bundeskartellamt, the German antitrust authorities. Disclosed last summer, these agreements call for the group's retail partners to provide a quality retail environment for Adidas products ...
