Latest Headlines – Page 420
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Losses Decline At Athlete’S Foot Parent
Despite lower mall traffic and consumer spending, NexCen Brands, the owner of The Athlete’s Foot and Shoebox New York, managed to improve its loss from continuing operations in the second quarter ended June 30. This year it was $800,000, compared with $112.8 million for the same period in 2008. Excluding ...
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Turnaround In Sight At Dorel
The recreational/leisure division of Dorel Industries reported sales down by 11.0 percent to $145.2 million for the third quarter ended Sept. 30, hurt by lower bike sales to mass merchants. Sales to independent bike dealers and specialty sporting goods stores by the Cycling Sports Group, which includes Mongoose, GT, Cannondale ...
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Nautilus Sees Stabilization Trends
Nautilus’ total sales fell by 34 percent to $41.4 million in the third quarter ended Sept. 30, but the operating loss improved to $2.8 million compared with a loss of $5.7 million last year. The quarterly net loss was $24.4 million, improving on the loss of $34.1 million. ...
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Easton-bell Emphasizes Medium Prices
Total revenues at Easton-Bell Sports dropped by 11.3 percent to $180.4 million in the third quarter ended Oct. 3, with a 0.9 percent decrease in net income to $6.3 million. The gross margin fell by 1.5 percentage points to 34.3 percent. Team sports declined by 19.0 percent to $91.2 ...
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China Makes More Money With Its Exports
China exported 5.10 billion sporting goods items in 2008, 15.49 percent more than in 2007. The value of the exports grew by 22.06 percent to $8.08 billion, for an average value of $1.59, 5.69 percent higher than the year before. Just over 80 percent of production value came ...
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SRI LANKA STANDS TO LOSE DUTY-FREE STATUS Sri Lanka...
SRI LANKA STANDS TO LOSE DUTY-FREE STATUS Sri Lanka could be losing the duty-free status it has enjoyed for imports of bicycles, parts and accessories into the EU since 2005. The EU grants certain developing countries reductions or exemptions on imports, but the countries have to agree to the ...
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French Retailers Set Up A New International Buying Group
Groupe Go Sport and the French Sport 2000 retail organization have signed an agreement in principle to set up a new company, called International Sports Retail Development (ISRD), to pool their purchases from about 60 major common suppliers, including the major sports brands, but less than 30 percent of the ...
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Foremost Ties Together Its Two Buying Formats
Foremost Golf, the buying group for British golf pro shops, is ramping up its marketing investments ahead of an integration by the start of 2010 of its two cooperation formulas, Foremost and Alliance. The tie-up consolidates Foremost’s position as the largest single golf buying group in the world, with some ...
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Blacks Asks Store Owners For Help To Survive
Blacks Leisure Group has finalized the terms of a new restructuring plan with Lloyds Banking Group that is intended to get the British outdoor and action sports retailer out of financial trouble and let it exit its loss-making stores. It also has upgraded and extended its bank facilities with Bank ...
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Jjb Raises More Equity Amid Widening Investigations
The board of JJB Sports announced that shareholders have overwhelmingly approved its proposed issue of 400 million new shares, intended to raise about £100 million (€111.7m-$164.9m) to keep the company afloat. The new shares started trading Tuesday morning on the London Stock Exchange. The share issue is a combination ...
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Still A Mixed Picture At Adidas
The worst is over, said Herbert Hainer, chief executive of the Adidas Group, in commenting yesterday on the financial results for the third quarter. While he would not discuss order backlogs, he said he was confident that the group would report a profit for the fourth quarter, albeit below the ...
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Puma Suffers Drop In Quarterly Sales
Puma’s sales began to slide in the third quarter of this year. The brand’s turnover fell by 5.5 percent to €673.4 million, a drop of 9.8 percent in comparable terms. The figure was reported by Pinault Printemps Redoute (PPR), the French furniture-to-luxury conglomerate that controls Puma, ahead of the company’s ...
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Amer Sports Bundles Central European Operations
The Finnish company is creating a new structure for Austria, the Netherlands, Switzerland and Germany. Effective Jan. 1, Amer Sports will have a Central Zone in place that will be headed by Armin Fuchs, until now country manager for the Netherlands and Germany, a position he will keep in addition ...
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Soft Equipment Sales Hurt Amer Sports
Despite continued growth in its relatively small softgoods business, Amer Sports reported a 5 percent drop in sales to €410.6 million for the period ended Sept. 30, accompanied by a 12 percent decline in net income to €28.8 million. The gross margin dropped by 1.3 percentage points to 41.7 percent. ...
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Jarden Expects Continued Drop In Sales But Margins Improve
The Outdoor Solutions division of Jarden Corporation had a 9 percent drop in sales to $565.7 million in the third quarter ended Sept. 30, but its operating income grew by 4.1 percent to $63.4 million. The outdoor unit’s results this year included $17.3 million in depreciation and amortization charges and ...
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Look Will Handle Rossignol Apparel
Rossignol has signed a licensing agreement with Look Cycle International, which sees the latter taking over the development of Rossignol and Dynastar branded clothing, with a goal of reaching annual sales of €40 million in due time. Look Cycle has also taken over the rights to the Look brand for ...
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Moncler Stops All Production
Moncler already stopped its French logistic operations last April. This pioneer in the production of down parkas, which was born in France in 1952, has decided to shut down its French production factory at Echirolles, near Grenoble, and to outsource all manufacturing operations, leading to the dismissal of about half ...
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The North Face Shines At Vf, Ebit Reaches A Record
VF Corporation saw its third quarter revenues drop by 5 percent to $2,093.8 million, with foreign currency translations accounting for 2 percentage points of the decline. Net income in the quarter fell by 6.8 percent to $217.9 million. VF’s gross margins remained near record levels for the period, ...
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Change In Brazil Weighs Down On Basicnet’S Licensed Sales
The aggregate sales of BasicNet and its licensees slipped by 0.3 percent to €239.1 million in the first nine months of 2009 due to a change of licensee in Brazil as well as the weakness of all South American currencies against the dollar and euro. The slide of the British ...
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Bad News For Shimano, Which Is Wary Looking Forward
In the first nine months of 2009, Shimano’s net sales fell by 21.2 percent to ¥134.4 billion (€1.00bn-$1.48bn). The operating income suffered more, dropping by 51.2 percent to ¥13.7 billion (€102.4m-$151.2m), as did net income, down by 57.8 percent to ¥7.9 billion (€59.1m-$87.2m). In bicycle components, the company ...
