Latest Headlines – Page 341
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The Norwegian market grows by 2.3%
After a slight decline in revenues between 2010 and 2011, the Norwegian sporting goods retail sector recovered and set a new record in 2012. According to an annual survey conducted by the country's sporting goods industry association, Sportbransjen, which does not use our parameters for the definition of the market, ...
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Weak margins and extra costs sink Puma’s profit despite robust sales
Puma ended the past year with a robust quarter, enabling the company to reach its sales target for the year. But its income was hammered by sagging margins as well as the heavy costs of its restructuring plan, which is expected to lead to flat sales for this year.The company achieved ...
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Puma’s chief executive bows out with wide-ranging cuts
About 450 jobs are to be cut at Puma as part of the company's wide-ranging restructuring plans, which will cost €25 million more than budgeted. This amounts to about 4 percent of the group's staff, which reached a level of 11,290 people at the end of last year.Franz Koch, the company's ...
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PPR seeks new managers for Puma
In divulging the results of PPR for the past financial year, top executives of the French group reiterated its position that Puma should recover its profitability before contemplating any new acquisitions in the sports or outdoor sector. The results of PPR's Sports & Lifestyle segment have not been as good as those of its Luxury ...
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VF posts strong results, driven by Vans
VF Corporation posted a sales increase of 15 percent to $10.9 billion in 2012, equating to a 17 percent rise in constant dollars. Timberland's acquisition accounted for 6 percentage points of the total growth.The gross margin improved by 0.75 percentage points to 46.5 percent, while the operating profit grew by ...
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Billabong incurs a half-year loss
Billabong International reported an after-tax loss of 536.6 million Australian dollars (€419.9m-$550.2m) for the first half of its financial year, ended last Dec. 31, compared with a A$16.1 million profit during the same period the year before. The net result would have been positive without A$567.0 (€443-$578m) million in onetime writedowns in the ...
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Outdoor is a dark spot in Wolverine’s sales
Wolverine Worldwide reported a lower than expected net loss of $3,499,000 for the fourth quarter ended last Dec. 29, which compares with a profit of $23,011,000 in the year-ago period, and its net earnings for the year were down to $80.7 million from $123.3 million in 2011.The group would have ...
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Jarden posts mixed results
The Outdoor Solutions segment of Jarden Corporation recorded a sales increase of only 0.5 percent to $617.9 million for the fourth quarter of 2012, ended on Dec. 31, but its operating profit (Ebit) rose by 5.3 percent to $41.2 million. Excluding restructuring costs, depreciation and amortization, the segment's operating earnings ...
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Accell posts 23% sales growth
Accell Group recorded a sales increase of 23 percent to €772.5 million in 2012. The acquisitions of Raleigh, Currie and Van Nicholas, along with rising sales of electric and innovative sports bikes, contributed to the higher turnover. Acquisitions raised the number of bicycles sold to 1,605,000, from 1,115,000 in 2011.On ...
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Shimano posts double-digit growth
Shimano is predicting a sales increase of 3.7 percent in 2013, with increases of 4 percent for its bicycle components and 2 percent for its fishing tackle. In the past year, its total sales grew by 10.9 percent in 2012 to 245.8 billion yen (€2.0b-$2.7b), showing an accelerating trend as ...
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Outdoor and fitness outperform at Garmin
Garmin's total revenues fell by 2 percent to $2.76 billion in the past year, with a 16 percent drop in the fourth quarter, but the Outdoor and Fitness segments came out better than others for the Swiss-based GPS company. Both segments showed higher operating profits for the year, but not ...
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Big management reshuffle at Easton-Bell
Terry Lee, co-founder of the former Bell Sports, and Tim Mayhew, a managing director of Fenway Consulting Partners, which owns a majority of Easton-Bell Sports, are taking over the company's helm after the resignation or dismissal of two more top executives of the group. Lee, a 63-year-old board member and ...
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Crocs feels it is turning the tide in Europe
Crocs plans to increase its marketing investments by one-third to about $15 million this year to raise consumer awareness of the brand. It also plans to open between 70 and 95 new stores – most of them in the first half – and to prepare the launch of a new ...
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Skechers recovers its momentum
Recovering from its previous woes, which were largely due to its flop with toning shoes, Skechers booked a 39.7 percent increase in overall group sales in the fourth quarter to $395.6 million thanks to the international business but even more by a dazzling 72.0 percent rise, or $69.9 million boost, ...
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Australian TAF franchisee downplays shoe retailing
RCG Corp., the Australian master franchisee of The Athlete's Foot, has placed its other retail banner, Shoe Superstore, into voluntary administration, which is a local form of bankruptcy, and written off its investment in the chain. Selling brands such as Ecco, Geox, Merrell, Rockport and Naot, the shoe retail chain ...
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Post-Olympic retail purge goes on in China
Chinese sports brands shuttered more than 3,000 retail stores altogether in 2012, compensating for their strong expansion in previous years and feeling the pinch from the growing competition from the international sports brands. Li Ning and Peak Sports closed down about 1,200 and 1,000 doors, respectively. China Dongxiang shut 569 ...
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A record Ispo mirrors an active market
The already big Ispo Munich fair that ended one week ago welcomed more visitors than ever before in the history of the sporting goods trade show. Its continued progress seemed to reflect the growing importance of the fair as a global meeting place for the industry. It probably reflected also the need for ...
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Albiro and Punto Azzurro manage Bailo and Vist
Bailo, a 60-year-old Italian producer of outdoor clothing, was going to merge with a younger Italian producer specializing in skiwear, Vist, but the combination did not work out for a variety of reasons. One of them was the pull-out of an institutional investor that was going to support their joint ...
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Running and tennis buoy Asics
Asics Europe lifted its sales by 8 percent in constant currencies for the nine months through September of last year, in spite of its decision to pull out of a few significant accounts as part of its selective distribution policy. After a robust third quarter, Asics Europe now expects even ...
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Sales up but profit slumps at Mizuno
The Mizuno group's sales revenues were up by 5.3 percent to ¥120.9 billion (€1.0b-$1.3b) for the nine months until the end of December, owing to brisk sales of running footwear and apparel, and the integration of Senoh Corporation from last July.Japanese sales were up by 7.4 percent to ¥90.4 billion (€717.8m-$967.1m) for ...
