Latest Headlines – Page 381
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Canadian Tire buys Forzani
Canadian Tire Corporation (CTC), a diversified retail group that operates 487 sporting goods stores in Canada, has announced a friendly takeover offer for Forzani Group, the Canadian licensee of Intersport International Corporation (IIC), forming a larger group with more than 1,000 sporting goods stores in the country. The transaction is ...
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World Federation moves to Bern
The World Federation of the Sporting Goods Industry is moving its head office from Lausanne to Ostermundingen, near Bern. WFSGI's general manager, Robbert de Kock, whose home is in the Bern area, says the move will cut rental costs in half and place the organization in direct contact with major ...
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Big jump for Foot Locker, mostly in the U.S.
Foot Locker has reported a 74.1 percent increase in net profit for the first quarter ended April 30 to $94 million, as sales went up by 12.8 percent on a comparable store basis. Total revenues went up 13.3 percent to $1.45 billion, up by 12.0 percent in local currencies.The group's ...
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ActivInstinct opens a French web store
ActivInstinct has been offering to take orders from outside the U.K. for the past 12 months. The demand for its products from French customers has been so high that the fast-growing British online sports retailer has decided to open a dedicated website in French and to hire French-speaking customer service ...
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Big drop in the Swiss market
The Swiss sporting goods market probably fell by 10 percent in the first quarter of this year, according to the national Schweizer Sport + Mode magazine, due to poor snow conditions. Only sports shoes recorded an increase. The magazine's estimate was based on a survey it conducted among Swiss sporting ...
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Ochsner plans new initiatives
Ochsner Sport, the leading sporting goods retailer in Switzerland, plans to open its first women-only store in Zurich next year. It also plans to branch out into e-commerce. Meanwhile, it is developing a special network of Ochsner Sport Clubs organizing several sports events for its members. Membership is free and ...
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Harsh winter helped Sweden’s sports industry
Swedish sports suppliers experienced record growth of 11.3 percent in their own sales in 2010, according to Sportfack, indicating a possible increase in retailers' inventories in the course of the year judging from the reported 6.8 percent growth of the market at the retail level. This clearly demonstrates the importance ...
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New Balance starts new comfort shoe unit
New Balance has announced the creation of an independent company, called DryDock Footwear, to develop the group's presence in the casual-comfort segment of the market. Bob Infantino, a successful American shoe industry veteran who has been working out of Boston as well, most recently for Clarks, will act as president ...
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Asics plans distribution changes in Europe, after big sales gains
Asics, the Japanese brand of running shoes, is holding talks with retail partners to alter its distribution strategy around Europe in the coming months. The company indicated that this would enable it to refine its distribution and improve service levels by putting the right products in the right stores, but ...
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Strong yen boosts Mizuno’s margins
Net income increased by 77.1 percent at Mizuno to ¥2.84 billion (€24.4m-$34.8m) for the financial year ended March 31. Revenues went up by 0.9 percent to ¥150.0 billion (€1,290.1m-$1,836.7m), but operating income jumped by 65.2 percent to ¥4.6 billion (€39.6m-$56.3m). Due in part to the appreciation of the yen, Mizuno's ...
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Head’s results deteriorate
Poor snow conditions, natural disasters and political unrest all combined to depress the revenues of Head, which were down by about 1.9 percent to €59.8 million for the first quarter of this year. The company had warned that this year should be tougher than last year.Head's winter sports division, with ...
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Fischer projects sustained growth
Excluding its sister company for apparel, Löffler, Fischer Sports' consolidated sales jumped by 20.3 percent to €159.3 million in the financial year ended Feb. 28, including some €24 million that were contributed by the domestic Austrian market, and the company's chief executive, Franz Föttinger, is anticipating further increases for the ...
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Deininger becomes Adidas’ marketing czar
At the Adidas Group, Hermann Deininger will see his realm enlarged again from the start of June, as he will become chief marketing officer for all ranges of the Adidas brand. Until now he held the same position for the Adidas Sport Style division, which he built up himself in ...
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Deters quits Kettler as it moves into China
Hans-Hermann Deters is going to leave as chief executive of Kettler at the end of July after doing a pretty good job at the family-owned company, which he has led since the beginning of 2007, running its sports hardware operations as well as its garden furniture and toy divisions. He ...
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New Eurochief and new retail plans for Etnies
Sole Technology is planning to set up a network of partner stores under the name of its star brand, Etnies, all over Europe after the relative success of a test store opened in March at Kingston upon Thames, in the U.K. Several retailers in the Netherlands, Spain and other countries ...
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SRAM will go public
SRAM International Corporation has announced that it has applied for an initial public offering of Class A common stock. It has not yet determined the price or the number of shares to be offered in the IPO.The proceeds will mainly be used to recapitalize SRAM following the acquisition of a ...
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Accell buys into the growing Derby Cycle
The large Dutch-based Accell Group has taken advantage of Derby Cycle's recent flotation on the Frankfurt stock exchange to buy a 5.7 percent in the company. The transaction was carried out through a wholly owned subsidiary, In2Cycling. The Dutch company described the purchase as an attractive financial investment, participating in ...
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Shimano keeps guidance after quake
Shimano maintained its 2011 sales guidance unchanged at ¥220 billion (€1.8bn-$2.7bn) despite the 8.9-magnitude earthquake that hit the country on March 11 and the subsequent nuclear disaster. However, it cut its forecast for net income to ¥20 billion (€166.2m-$244.0m) from ¥22 billion, while estimates for operating and ordinary income were ...
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Puma finds monetary value of emissions and water use
Puma and PPR HOME, the sustainability initiative of PPR Group, recently got the initial results of its Environmental Profit & Loss Account. It found that the production of raw materials has the highest greenhouse gas emissions and water usage among the various aspects of Puma's operations and supply chain. Puma ...
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France gets the Ryder Cup
The French golf business community celebrated last week after the Golf National course in Saint-Quentin-en-Yvelines, near Paris, was picked to host the Ryder Cup in 2018. The win should support the French golf federation's plans to quickly lift golf participation in the country, and it could provide a substantial boost ...
