Latest Headlines – Page 359
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Xidelong’s growth may be tapering down
Sales and profits continued to grow at a brisk double-digit pace in 2011 for Exceed Company, the parent of the Chinese Xidelong brand of sports shoes and clothing. However, the company revealed that the total value of wholesale orders collected at its house fair in Jinjiang last Dec. 15-19 showed an ...
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Slower growth for Chines bikes
The 22nd China Cycle Show wrapped up at the end of April after recapping the industry's growth and statistics – and potential for growth in the future. Ma Zhongchao, the president of the China Bicycle Association, warned that the industry will face a lower growth rate in coming years.In 2011, ...
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Dorel goes direct in China
Dorel Industries plans to start selling Cannondale and GT bicycles on a direct basis on the Chinese market this coming summer. The management of the Canadian group points out that the market is ready for these brands to take the business over from their local distributors as more and more ...
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Go Sport and Hervis want to do some purchasing together
The French-based Groupe Go Sport retail group and Hervis Sport, the Austrian-based sports retail subsidiary of the Spar group, have signed an agreement in principle to share purchasing operations for their 500-odd directly operated stores in eight European countries, starting with the spring/summer 2013 collections. Together, Go Sport and Hervis ...
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Adidas outperforms in Europe and China
The Adidas Group has boasted that it had been racing far ahead of its rivals in the last months, as it outperformed the market in Europe and China. The company's achievements for the first quarter encouraged it to publish preliminary results three days earlier than planned last week, and to ...
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Adidas cleans up the act for Reebok in India
Reebok India is to undergo a substantial cleanup after the Adidas Group found large-scale “commercial irregularities” at the company. Adidas said that they could have a negative pre-tax impact of up to €125 million over several previous years, which will probably require adjustments in the its financial reports. The restructuring ...
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Prince goes bankrupt, but Europe is spared
Prince Sports Group has filed a voluntary petition for bankruptcy protection and reorganization for the U.S. operations. The move is seen as only an effort to clean up the tennis company's debt, especially with its Asian suppliers, prior to its takeover by Authentic Brands Group (ABG), owner of Taiput and ...
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Wolverine acquires Collective’s shoe brands
Wolverine Worldwide, parent company of Hush Puppies, Merrell, Sebago and other brands, announced on May 1 that it has won the bidding process for the Performance + Lifestyle Group (PLG) of Collective Brands, which includes four iconic shoe brands - Saucony, Sperry Top-Sider, Stride Rite and Keds – forming what ...
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Interesting new football sponsorships
Umbro had a contract with the Manchester City football club until 2019, but as it owns the brand, Nike is taking over from it as the sponsor of the British team for the next six seasons, reportedly for £12 million (€14.8m-$19.4m) per year. At the same time, it is negotiating ...
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Franz Julen will steer Intersport through 2018
The supervisory board of Intersport International Corporation (IIC) has extended the mandate of Franz Julen as the chief executive of the retail organization ahead of schedule, making it run for five more years than previously planned, until the end of 2018. The news is not surprising, considering the very good ...
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European Commission investigates Chinese bike subsidies
The European Commission has taken up a complaint by the European Bicycle Manufacturers Association (EBMA), arguing that Chinese bicycle makers benefit from government subsidies. The commission has 13 months to complete an investigation into the matter, which might lead to extra duties for Chinese bicycles coming into the European Union.Last ...
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Sharply improved results for Shimano
Sales increased by 22.7 percent to 62.47 billion yen (€597.8m-$781.8m) in Shimano's first quarter, ended March 31, but the boom is unlikely to continue at the same pace in the next few months. The Japanese company is predicting increases of only 10.1 percent for the first half and 5.1 percent ...
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Lower results for Rapala
Rapala, which controls Peltonen and is a major distribution partner of Shimano in the European market, reported a 2 percent drop in its revenues to €73.5 million for the first quarter, partly due to a later and short winter in the Nordic countries that led to a drop in its ...
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Basicnet takes over Fashion Network
Basicnet has won a bid to take over the leases of 22 outlets and discount stores, mostly located in Italian factory outlet centers, that the bankrupt Mariella Burani Fashion Group had taken over from the former Gruppo Finanziario Tessile. They will be rebranded in the next 10 months to sell ...
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Oakley launches a big campaign in Europe
Already launched last month in the U.S., Oakley's new “Beyond Reason” campaign is going live now throughout Europe, Middle East and Africa (Emea), where sales of the brand are growing at an annual average of about 20 percent, faster than in the rest of the world. The campaign centers on ...
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K-Swiss bets on Clean Classics
K-Swiss saw its shares tumble last week as the Californian company reported that its sales had slumped and its orders were on the slide. The company's entire turnover decreased by 4.3 percent to $69.3 million for the first quarter, with an increase of 17.8 percent to $48.5 million in international ...
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Europe weighs on Puma’s results
Puma's sales expansion slowed down in the first quarter of this year, rising by only 6.1 percent to €820.9 million, due to a 1.7 percent fall in European revenues to €368.0 million. Franz Koch, the company's chief executive, said that European sales had been affected by the tight economic situation, ...
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PPR sticks to Puma
PPR, the French luxury, sport and retail group that owns slightly more than 80 percent of Puma's shares, dismissed rumors that it might sell the German sports company after its unconvincing quarterly performance. PPR's chief financial officer, Jean-Marc Duplaix, admitted in a conference call that Puma had been under-performing in ...
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Sports Direct upgrades bonus targets after sales hike
Sports Direct International (SDI), the leading British sports retailer and wholesaler, lifted its sales by 13.2 percent to £267.6 million (€328.2m-$434.2m) in the nine weeks ended on March 25. The company's trading update further showed a 13.5 percent rise in gross profit to £99.8 million (€122.4m-$161.9m).The sales increase was ...
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Amer predicts lower winter sports pre-orders
Buoyant apparel and footwear sales pushed the Amer Sports group's sales up by 9 percent to €489.8 million for the first quarter, with an increase of 7 percent in constant currencies, but the company's winter sports unit was hurt by the mild winter and the group warned that its pre-orders ...
