Latest Headlines – Page 340
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Profits continue to rise at Foot Locker
Excluding non-recurring charges, net earnings improved by 32.1 percent at Foot Locker in the fourth quarter ended Jan. 31. Sales went up by 14.0 percent to $1.71 billion. Comparable store sales rose by 7.9 percent for the period, driven more by basketball than running in the U.S. They were up ...
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Kesko wants to double Intersport sales in Russia
Kesko Oy, which is already the leading player in the Finnish sporting goods market, wants to double the sales of its Intersport stores in Russia to €50 million by 2015, according to the company's annual report. The company's food and home improvement retail operations in Russia are expected to raise ...
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Financial restructuring at Rucanor
There was some uncertainty in the Dutch sports market in the last few days about the fate of Rucanor, the country's most established general sporting goods brand, after a related company was declared bankrupt by a court in The Hague. Subsequent investigation has allowed us to clear up the situation to ...
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Management reshuffle amid weaker results at Quiksilver
The management reshuffle launched at the Quiksilver Group since Andy Mooney's appointment as president and chief executive continued with several high-profile changes last week, just before the company published declining results for the quarter that ran until the end of January.The company has appointed Tom Hartge as global head of ...
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Reportedly, Rip Curl is no longer for sale
The volatile state of the international investment community and of the boardsports market in certain countries have apparently led the founders and owners of Rip Curl, Doug Warbrick and Brian Singer, to shelve plans to sell the company, according to The Australian. The newspaper quoted Warbrick as indicating that the ...
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New GM at Oxbow
Oxbow, the French action sports brand owned by the Lafuma Group, confirmed that its general manager, Baptiste Caulonque, has left the company after less than one year at the helm. Oxbow said that Caulonque had been replaced by Daniel Gemperle, an executive of the Calida group, the Swiss textile company ...
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New Balance reports 22% growth in Europe
New Balance saw the sales of the New Balance brand expand by 22 percent in Europe, the Middle East and Africa (EMEA) last year, after an impressive sales hike of 35 percent in 2011. Without giving a specific figure for the actual turnover, the company said that the rise was ...
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K-Swiss sees margins improving but sales are still down
The American athletic shoe company, which is set to be taken over by E-Land of South Korea for $170 million, reports a 17.0 percent drop in its total sales to $222.9 million for the past year, but it net losses were practically cut in half to $34.8 million from $70.5 ...
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Dorel’s bike segment up by 12%
Dorel Industries reported strong results for its 2012 fourth quarter and the full year, mostly driven by the cycling sector. Revenues at the group's Recreational/Leisure segment, comprising Cannondale, Schwinn and other bike brands, increased by 12 percent to $226.6 million in the fourth quarter ended Dec. 30, and surpassed $900 ...
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London invests in urban cycling
The mayor of London, Boris Johnson, has unveiled plans to make London safer for cyclists through the implementation of an unbroken network of cycling routes with some Dutch-style segregated lanes, traffic restrictions and “Little Holland” style developments. A new 15-mile east-west superhighway, called “Cycle Crossrail,” will link the busy Westway ...
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Ispo Beijing provides direction in fast-moving Chinese market
While there are fears that the fast-growing Chinese outdoor market could face some of the same issues as the country's glutted sports market, the buzz at the ninth edition of Ispo Beijing remained strongly upbeat: The fair bustled with a growing number of visitors thronging increasingly slick and busy stands.The ...
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Action sports on the rise at Ispo Beiing
Protest was one of the companies that drew throngs of visitors at a large stand at Ispo Beijing earlier this month, as part of the fair's bustling action sports area.The Dutch snowboarding brand teamed up in China two years ago with BTS Shanghai, which operates as a licensee. The two ...
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Shrinking sales and profits for China’s 361°
361 Degrees International, a Chinese sports brand chiefly targeting small-town consumers, saw its sales tumble by 11 percent to 4,950.6 million yuan renminbi (€610m-$796m) last year. As the company simultaneously invested in marketing and a range of measures to improve sell-through at its franchised stores, its net profit shrank by 37.7 ...
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…and at Peak Sport
Peak Sport Products was one of the Chinese companies that suffered the most spectacular declines in income last year. Its sales were down by 37.5 percent to 2,902.9 million yuan renminbi (€357.7m-$466.5m) and its net profit altogether collapsed, down by 60.1 percent to RMB310.6 million (€30.2m-$49.8m), as Peak adjusted its ...
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Vincenzo Mancini buys back Cisalfa
The family of Vincenzo Mancini, the 59-year-old entrepreneur who founded Cisalfa Sport in 1977, has bought it back through a holding company called Challenge 2012, after half a year of negotiations. He had sold Cisalfa in 2006 to a private equity fund, Investitori Associati, but he had kept a 29.9 ...
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Sports Direct continues to grow, enters Spain
Sports Direct International (SDI) is about to open its first Spanish store in Zaragoza during the month of April, according to a report that could not be confirmed by the time of going to press. The company's move into the Spanish market can be seen as a logical step after ...
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Go Sport banks on franchising and the internet
The French sporting goods retailing group is looking at store franchising and online sales as a less costly way to expand the presence of its Go Sport and Courir chains in its domestic market and as an alternative to Décathlon and Intersport, which have higher market shares in the country. ...
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Late publication makes Karstadt figures hard to evaluate
Karstadt, the big German operator of 89 department stores and 28 specialty sporting goods shops, has finally presented its figures for its 2010-11 financial year, ended on Sept. 30, 2011. This came after federal authorities imposed a fine for late reporting as low as €2,500. Usually, companies are required to ...
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Amazon is eyed by German antitrust authorities
The Bundeskartellamt, the German antitrust authority, has opened an investigation into amazon.de's business practices in regard to retailers that sell products through Amazon's online platform. The general terms of the marketplace require that participating retailers will not offer their products any cheaper on other online platforms or in the retailers' ...
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WFSGI launches a 'blitzkrieg' against online parasites
Under the auspices of its legal committee, the World Federation of the Sporting Goods Industry (WFSGI) has launched a project intended to solve the problem of brand abuse over the internet, launching a sort of technological “blitzkrieg” against online parasites.The legal committee, chaired by the WFSGI's legal counsel, Jochen M. Schaefer, has found ...
