Latest Headlines – Page 409
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Athlete’S Foot Is Changing Ownership Again
NexCen Brands has announced that it will sell all of its franchise businesses, including The Athlete’s Foot, and then propose to dissolve and distribute any remaining proceeds to its shareholders. An investment firm, Levine Leichtman Capital Partners, is buying the whole business for $112.5 million through a subsidiary, Global Franchise ...
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Sales Gains Boost Foot Locker’S Income
A 5 percent increase put Foot Locker’s global sales at $1,281 million for the first quarter ended May 1. Net income jumped by 74 percent to $53 million, and easily beat the consensus forecast of $44 million. Comparable store sales went up by 4.8 percent. Excluding the impact of currencies, ...
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China Gets The Wto To Review The European Anti-dumping Duties
China and the European Union have been unable to resolve their differences over the anti-dumping duties levied by the EU on imports of Chinese-made non-athletic leather footwear in the mandatory negotiating period that followed China’s request last Feb. 4 for consultation on the issue within the World Trade Organization. The ...
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Nike Will Sell Converse Directly In The U.K. And China
Nike plans to take over the distribution of Converse in the U.K. and China after the end of this year from its current licensees, after the expiration of present contracts: a company in Hartfordshire, RPQ Supplies, for the U.K.; and GM Asia Pacific in Hong Kong for China.RPQ Supplies, a ...
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Callaway Reshuffles Its European Sales Structure
Timo Regier, who has been handling Callaway Golf’s sales in Central Europe, is widening the scope of his sales responsibilities to include the Southern European region previously supervised by Jocelyn Diot, who has left the company. Regier, who first joined the company in 1997 in London as an inside ...
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Sunice Is Ready To Expand In Europe
Sunice, the Canadian brand of golf outerwear, is teaming up with an established British distributor to launch Sunice Europe, which will sell the brand in the U.K. and Ireland. This unit is a joint venture between The Golf Business, the distributor that established Galvin Green in the U.K., and the ...
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Good Start For Head In The New Year
Head N.V. had a successful first quarter, with sales climbing by 6.7 percent to €61.0 million for the period ended March 31. The gross profit margin rose by 4.8 percentage points to 42.9 percent on higher sales, improved product mix, and lower manufacturing and sourcing costs. There was still an ...
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Strong Growth For Babolat
Babolat is celebrating its 135th birthday with a stunning increase of 20 percent in its consolidated sales for the eight months ended last April, although this was partly due to the fact that it decided to launch some important new products at the beginning of this year instead of September. ...
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Easton-bell Manages A 5% Sales Gain
Bolstered by strength in its Team Sports segment, Easton-Bell Sports reported a 5 percent gain in first-quarter sales to $194.1 million for the period ended April 3. It marked the company’s first quarterly sales growth in three periods. Net income was $122,000 compared with $975,000, but was hit by an ...
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Currency Effects Hurt Asics’ Bottom Line
Asics Corporation’s sales in Europe increased by 1.9 percent in local currencies during the financial year ended last March 31, with significant double-digit growth in running and indoor shoes partly offset by weaker sales of lifestyle products. Spain saw an increase, and the U.K. saw a double-digit rise. The business ...
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Mizuno Manages A Big Profit Turnaround Despite A Sales Drop
Annual sales at Mizuno declined by 8 percent to ¥148.7 billion (€1,357.6m-$1,659.4m) for the fiscal year ended March 31, with nearly 3 percent of the drop related to exchange rate fluctuations. Net income was ¥1.6 billion (€14.6m-$17.9m), compared with a loss of ¥2.4 billion due to non-operating factors, write-downs of ...
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Puma Insists On Sustainablity
Puma is stepping up its efforts to make its business more sustainable. Among its latest moves is an agreement with 20 of its strategic suppliers in South East Asia that they will produce their own sustainability reports from next year on. The project is set up in partnership with The ...
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Anwr Buys Garant With Europe In Mind
Ariston-Nord-West-Ring (ANWR) is the parent company of Sport 2000 Deutschland, which operates also in Switzerland, and a minority shareholder in Bico, the German cooperative of bike retailers. Like ANWR, Garant operates mainly in the shoe retail segment, but it also runs national cooperatives of sporting goods retailers, called Fair Play ...
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Tnf’S Parent Puts Its Hands On Blacks
VF Corporation, the owner of The North Face, Eagle Creek, Jansport, Napapijri and several fashion apparel brands, has acquired a stake of 4.9 percent in Blacks Leisure Group, stating that it wishes to support the turnaround plan launched by the management of the embattled British outdoor retailer. This plan is ...
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Adidas Does Well, Especially At Retail
A significant recovery materialized for the Adidas Group in the last months, generating record quarterly sales as well as soaring profits – although this compares with a depressed quarter affected by restructuring costs last year. The group ended the quarter with sales of €2,674 million, up by 3.7 percent ...
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Puma Is Becoming More Optimistic
Puma’s sales continued to slide in the opening quarter of this year, but the hit was far less painful than in the previous quarter and the company’s cost reductions have had a significant impact on its operating performance, encouraging the company to upgrade its forecast for the full year. ...
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Fortune Brands' Golf Division Ticks Slightly Upward
Bob Philion, who launched Puma Golf in 2006, will act as president of Cobra Golf, overseeing and managing all aspects of the company’s global presence, including expansion. The former general manager of Cobra, Brian Zender, will be heavily involved in the sales efforts of both brands as senior vice president ...
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Callaway Sees A Promising Season Ahead
With an 11 percent increase in sales to $302.9 million for the first quarter, Callaway Golf says the indicators for a recovery in the golf market remain positive even though cold weather in Europe and the U.S. meant that the season got a late start. The gross margin rose by ...
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Nike Plots Out The Next Five Years
At an investors meeting in New York, Nike laid out new plans for growth through 2015. It is aiming to achieve $27 billion in revenues and $12 billion in cumulative free cash flow from operations by that fiscal year. Confirming previous growth targets, this is an extension of the behemoth’s ...
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Brooks Sports Is Ready To Tackle The Big Running Market
Nike isn’t the only brand with a plan. Brooks Sports is looking to quintuple its $200 million in sales recorded last year to hit $1 billion by 2020. As the market for running shoes used for running continues to expand, it sees itself becoming a leader in the category. ...
