Latest Headlines – Page 352
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Group wants Adidas to pay dismissed Indonesian workers
The Clean Clothes Campaign (CCC) delivered petitions to Adidas stores in Berlin and London, and to the company's U.S. head office in Oregon earlier this month, demanding that Adidas pay compensation of $1.8 million to former workers at PT Kizone, an Indonesian apparel manufacturer that became insolvent last April. The ...
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Some major retail players outperform a flat European market
The lack of a major international sports event, unseasonal weather conditions and the poor economic situation in certain countries led European consumers to take a pause in their purchases of sporting goods in 2011. According to the annual retail survey of SGI Europe, which covers 15 European countries, retail sales ...
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Dick’s writes off JJB investment
Dick's Sporting Goods has entirely written off the investment it made earlier this year in JJB Sports, the ailing British sports retailer. This led to a pre-tax impairment charge of $32.4 million in the quarterly results of the U.S. sports retailer.April, Dick's invested £20 million (€25.2m-$31.6m) in new JJB shares ...
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Foot Locker posts new record results
Net earnings jumped by 59.5 percent to $59 million for the second quarter ended July 28 for the Foot Locker group as its global sales rose by 7.2 percent to $1,367 million. The revenues would have risen by 10.6 percent if currency exchange rates had remained the same. On a ...
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Mifa acquires an insolvent competitor, Steppenwolf
Mifa acquired all of the significant assets of Steppenwolf as of Aug. 21. Both the Steppenwolf parent company and Steppenwolf Bikes, the operating company, filed for insolvency in the Munich court on July 26. Steppenwolf has been producing sports bikes in the upper price segment since 1995. They have been ...
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Active Sportswear sells H²0
Active Sportswear International, the Danish multi-brand sports company that acquired H²O four years ago, has sold it to a newly established firm, H²O Sportswear. Behind this entity are four investors who want to relaunch the brand by focusing on its strongest categories, from skiwear to lifestyle products, working with a ...
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Pentland and JD exchange brands
JD Sports Fashion, the British sports and fashion retail group, has agreed to sell Canterbury, the rugby brand, to the Pentland Group at a price of £22.7 million (€28.6m-$35.9m) in cash. Meanwhile, the retailer will buy the One True Saxon fashion brand from Pentland at £50,000 (€63,050-$78,970). The deal is ...
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Tecnica Group gets a new CEO from outside the family
Peter Weaver, a highly respected American executive who has been running Tecnica Group USA for five years, will act as the new chief executive of the Italian-based Tecnica Group, starting next week. He will also act as a member of the supervisory board, participating in the decision-making process.Weaver, 59, will ...
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Rossignol places Steele in charge of the U.S., Petrick goes back to K2
Ron Steele has been promoted to president of Group Rossignol North America. Formerly the vice president of sales and marketing for Rossignol USA, Steele takes the place of Tim Petrick, who has resigned from the role he has held for the last 20 months. The latter has been appointed by ...
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Adidas fills Nordic void
Brian Grevy, a Danish executive who has spent 14 years with Reebok and Adidas, was appointed to head the group's activities in the Nordics from the start of October. The function of general manager for Adidas Nordic has been vacant since Henrik Bunge left to become chief executive at Peak ...
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Billabong counts its losses
While providing some more details about its new “transformation strategy,” Billabong International reported a big net loss of 275.6 million Australian dollars (€227.6m-285.9m) for the financial year ended June 30, compared with a net profit of A$119.1 million the year before, on 7.9 percent lower global revenues of A$1.55 billion ...
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Billabong sees 2.5 times higher profits by 2016
The new management of Billabong International, led by Launa Inman, has unveiled a new “transformation strategy” which, it claims, should lead the company to generate an annual operating Ebitda of at least 210 million Australian dollars (€173.5m-$217.9m) for the year ending in June 2016, at a total capital cost of ...
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Globe’s profit slips
Globe International announced net profit after tax of 0.1 million Australian dollars (€82,780-$103,690) for the year ended June 30, compared with A$1.1 million generated in the previous financial year. Net sales of A$82.3 million (€68.1m-$85.3m) were down by 6.2 percent, mainly due to the strengthening of the Australian dollar. In ...
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Tennis lifts Head
Brisk sales of tennis products have enabled Head to deliver another quarter of robust sales. After a surge of 17.1 percent in the first quarter, the Austrian company's sales jumped by 6.9 percent to €62.5 million in the second quarter. Adding up the two quarters, Head achieved a turnover of ...
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Mizuno performs well in Europe
Aided by double-digit growth in sales of sports footwear in Europe and the Americas, Mizuno lifted its turnover by 2.6 percent to 42.6 billion yen (€432.8m-$542.1m) for the first quarter of its fiscal year, until the end of June. This would have been an increase of 3.8 percent excluding currency ...
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Li Ning’s income crashes in radical cleanup
Li Ning's net profit plummeted by nearly 85 percent to 44.3 million yuan renminbi (€5.6m-$7.0m) for the first half of this year, as the Chinese sports brand tackled its inventory and sell-through issues by closing down about 1,200 of its franchised stores.The company's sales fell by 9.5 percent to nearly ...
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Exceed’s sales drop by 24.2%
The Chinese company, which markets the Xidelong brand of sports shoes and clothing, announced that its revenues for the second quarter ended June 30 declined by 24.2 percent to 562.0 million yuan renminbi (€70.8m-$88.3m) compared with the same period of last year. The company added that it expects revenues to ...
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Belle sees Chinese market recovering since March
Belle International registered an increase of 11.7 percent in operating and net profits for the first half of 2012, but as a percentage of sales, they were down to 17.5 percent and 14.0 percent, respectively. Among other activities, the Chinese footwear and sportswear group distributes through its stores such brands ...
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Easton-Bell’s action sports suffer in Europe
Easton-Bell Sports reported net sales of $214.1 million for the second quarter of 2012, an increase of 1.0 percent from the same period of 2011, made possible by team sports and cycling sales in North America, which offset a decline for action sports in Europe. The U.S. company trades under ...
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Europe weighs down on Dorel
The weaker euro dampened the sales expansion of the recreational and leisure unit at Dorel Industries, which encompasses cycling brands from Cannondale to GT, Sugoi, Schwinn, Mongoose and more. Its turnover inched up by 1.1 percent to $251.9 million for the quarter, with a negative impact of about 2 percentage ...
