Latest Headlines – Page 353
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Rough riding for Heelys
Heelys suffered a rough quarter, with sales down by 31.0 percent to $5.7 million. The U.S. wheeled footwear company was hit by high inventories at the retail level, leading to discounts and a sharp decline in its gross margin and earnings.The company's U.S. sales dropped by 32.9 percent to $1.8 ...
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ManUnited had a poor stock market launch
Manchester United's initial public offering (IPO) did not yield the expected proceeds, as the price of the shares offered to investors on the New York Stock Exchange had to be cut ahead of the launch on Aug. 10. Due to skepticism from investors, the shares were listed at $14, below ...
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Some sports brands shine in the Olympics
With the London Olympic Games barely over, the leading sports brands were already counting their marketing medals (no longer just gold, silver and bronze, but now also digital hits and fans) and preparing for the next edition in Rio de Janeiro in four years' time.Though there were many empty seats ...
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Tiny sales increase at Asics
The wariness of consumers amid an uncertain economic landscape was blamed for the sluggishness of Asics' sales in the three months until the end of the June, which is the first quarter of its fiscal year. The Japanese sports group's sales inched up by 1.1 percent to ¥66,105 million (€680.7m-$843.5m) ...
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Basicnet’s half-year sales rise by 7.3%, margins decline
Basicnet achieved good growth at the global level through its portfolio of brands in the six-month period ended June 30, with aggregate sales at €213 million, up by 7.3 percent from the year-ago period. The figure includes direct sales – mostly in Italy – and licensees' sales under its various ...
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Manchester United: IPO and new shirt sponsor
Manchester United set the terms for an initial public offering on the New York Stock Exchange on July 30. It proposes to sell 16,667,667 shares at between $16 and $20 each, valuing the English club at up to $3.3 billion.Half of the shares will be issued by the club while ...
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Johnson Outdoors reports growth, except for diving
Johnson Outdoors reported a 5 percent increase in total net revenues to $128.6 million during the third fiscal quarter ended June 29, compared with the same quarter a year ago, with new products generating more than 40 percent of total sales. Currency translations had a negative 2 percent impact on ...
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New merchandiser for Skullcandy from Burton
Skullcandy has hired Sam Paschel as executive vice president for product development and merchandising, effective Sept. 14. He succeeds Dan Levine, the company's chief merchandising officer since 2008, who resigned on Aug. 1 to pursue a new opportunity. Paschel was most recently senior vice president of marketing for Burton Snowboards. ...
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Rapha goes for physical retail
Rapha, which is probably now the world's fastest-growing brand of cycling apparel, opened this past weekend its flagship store on Brewer Street in London, close to Regent Street. The eight-year-old British company is still selling 90 percent of its products through the internet, but this major investment is part of ...
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Revolution Running, a new running apparel brand from the U.K.
Revolution Running, a new British-based brand, has just launched a new line of design-led clothing and accessories for running and general leisure use. The brand positions itself as targeting runners who are “ready to run a different way.” It claims that its products are aimed at consumers for whom design, ...
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Jittery investors at JJB Sports
British newspapers report that Invesco, an investment firm that holds 47 percent in JJB Sports, wants to strengthen its influence at the beleaguered British sports retail group as a means to speed up its restructuring plan. The Sunday Times heard that Invesco wanted to buy the retailer's outstanding debt with ...
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Adidas is whipped up by the Olympics
As the London Olympic Games were under way last week, the Adidas Group reported another buoyant quarter for the Three Stripes, although the entire group's performance was dampened by a steep sales decline for the Reebok brand. The company ended the quarter with a turnover of €3,517 million, up by ...
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Struggling Vulcabras loses its head
Milton Cardoso Dos Santos Filho has resigned as chief executive of Vulcabras, the big Brazilian company that owns the Olympikus brand and manages the distribution of Reebok in three Latin American countries. He has also left the company's board of directors. A public statement says that he is leaving for ...
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After cleanup, K-Swiss bets on Clean Classics
K-Swiss continued to suffer heavy declines in sales and orders in the second quarter, but the Californian sports company managed to reduce its loss as the radical cost-cutting measures launched last year started to pay off.The group's sales shrank by 31.5 percent to $44.7 million for the quarter. Its U.S. ...
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Amer’s investments buoy sales but sink income
Driven by winter and outdoor apparel, Amer Sports managed to lift its sales by 12 percent to €353.8 million in the second quarter, which was an increase of 5 percent in constant currencies, but abundant investments in own retailing and emerging markets dug a hole in the company's earnings.Sales were ...
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Therm-ic is bankrupt
Body Systems, the company that owns Therm-ic and other operations, has filed for bankruptcy protection in the court of Graz. Urs Maron, who took full ownership of the Austrian company last year, said he was preparing a legal case against its founder, David Macher, based on suspicion that he had ...
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Deckers invests in Hoka One One
Deckers Outdoor Corporation has announced a “strategic investment” in Hoka One One, the new and special brand of oversized trail running shoes first introduced for the autumn/winter 2010/11 season by Jean-Luc Diard, a former chief executive of Salomon, and by his former marketing manager, Nicolas Mermoud.As we have subsequently learnt, ...
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Inov-8 gets backing from an equity fund
This young British brand of running and fitness shoes and other performance footwear signed a deal last May for an equity increase funded by a U.K. low-cap private equity company, Isis Equity Partners, to help support its strong growth at home and abroad, its expansion into new markets and further ...
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Anta’s net falls by 17%
Anta Sports Products, a major Chinese manufacturer of athletic footwear, announced that its net profit for the six months ended June 30 was $121.7 million, down by 17 percent from the year-ago period. An official partner of the Chinese Olympic Committee, Anta remains cautious about the short-term outlook for the ...
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Garmin’s outdoor and fitness rise in the second quarter
Garmin's revenues from its outdoor segment increased by 24 percent to $100 million in the second quarter of 2012. Those of the fitness segment increased by 5 percent to $82 million, compared against a strong performance in 2011. The company's overall sales increase amounted to 7 percent. Turnover reached $718 ...
