Latest Headlines – Page 425
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Sales Look Good At Billabong, But Earnings Drop
Billabong International reported a 23.9 percent increase in group sales to 1.67 billion Australian dollars (€973.4m-$1,388.2m) for the fiscal year ended June 30; this was an increase of only 9.1 percent in currency-neutral terms. The final figure also got a boost from the acquisition of DaKine. It is the first ...
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Dorel Gets Hurt As Consumers Buy Cheaper
The recreation/leisure segment of Dorel Industries had a 2.1 percent sales increase in the second quarter to $199.1 million, but still saw a drop in operating earnings of 7 percent to $16.0 million. The company attributed the revenue growth to currency exchange rates and to acquisitions; organic sales dropped by ...
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Belle Sells Chinese Fila Assets To Anta
Belle International Holdings, which is performing better in street shoes than in sports apparel, is transferring most of its Fila properties in China, Hong Kong and Macau to Anta Sports Products for 314 million renminbi (€32.3m-$46.0m). Anta, whose results grew strongly in the first half of this year ...
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Anta’S Half Looks Good All Around
Anta Sports Products of China had a big 27.7 percent surge in sales to 2.82 billion renminbi (€289.8m-$413.4m) for the first half of the year. The net profit was up by 40.1 percent to CNY608 million (€62.5m-$89.1m), boosted by lower marketing expenses and a drop in the cost of shoe ...
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Li Ning Has A Strong First Half
Li Ning Group has reported revenues up by 32.4 percent to 4.05 billion renminbi (€416.2m-$593.7m) for the first half of this year. Profit attributable to equity holders grew by 41.6 percent to CNY 473 million (€48.6m-$69.3m). The gross margin fell by 0.6 percentage points to 47.8 percent. The ...
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Pacific Brands Transfers Merrell Rights To Rcg
Continuing its reorganization, the Australian conglomerate Pacific Brands has decided to discontinue the sale of three licensed brands – Lee, Wrangler and Merrell – as of January 2010. The company has already exited the women’s fashion business and has started restructuring its international footwear operations. The Merrell business is ...
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Mizuno Drops A Little At Home, A Lot Elsewhere
Mizuno Corporation saw its sales fall worldwide in the first quarter ended June 30, with a small drop at home in Japan paling in comparison with double-digit decreases abroad. Overall revenues dropped by 9.3 percent to ¥40.9 billion (€305.9m-$436.3m), combining a 2.9 percent drop in Japan to ¥30.3 billion (€226.6m-$323.2m) ...
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Other Japanese Companies Report Declines
Revenues dropped at an even higher rate of 16.0 percent at Asics, going down to ¥54.9 billion (€410.6m-$585.7m) in the first quarter ended June 30, and the gross margin was down by 1.4 percentage points to 43.5 percent. The operating profit decreased by 46.0 percent to ¥5.25 billion (€39.3m-$56.0m), and ...
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Easton-bell Has Close Call With Debt Convenants
Revenues at Easton-Bell Sports dropped by 15.2 percent to $187.3 million for the second quarter ended July 4. On a currency neutral basis, this was a slide of 12.6 percent. The net income plunged by 74.8 percent to $3.9 million. In the team sports division, sales were down ...
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Brand Extensions Pay Off For Lyle & Scott, And Another One Is In The Offing
The Scottish golf knitwear brand expanded rapidly in the last years as it split its offering into several ranges, targeting golf retailers as well as the wider lifestyle and fashion market. It reached sales of about £27 million (€30.7m-$43.8m) for the year ended in March 2009, an increase of about ...
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Ifm Looks At The Sponsorship Business
A survey of almost 450 business leaders from 30 countries conducted by the IFM group, parent of IFM Sports Marketing Surveys, found a widespread optimism. Two-thirds of the businesspeople, representing sports, leisure and sponsorship segments, think the market will settle down or even start to rise by the end of ...
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Jd Sports Fashion Buys Canterbury And Kooga Rugby
JD Sports Fashion, which recently bought an athletic footwear retail chain in France, Chausport, continues to buy new properties, this time in the branded rugby business. While announcing a week ago its takeover of the “key trading assets” of Canterbury Europe along with the global rights to the Canterbury New ...
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Go Sport Finally Improves Margins
A new feeling of optimism is pervading the management of the Go Sport Group, the third-largest sporting goods retailer in France after Décathlon and Intersport. While reporting sharply reduced financial losses, the management appointed two years ago has announced several measures intended to restore its profitability. No new Go ...
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Pacific Buys Fischer Tennis
The tennis unit of Fischer, the Austrian ski brand, was taken over at the end of last month by Pacific-Entermark, a German company specializing in tennis strings, stringing machines and tennis accessories sold under the Pacific brand name. The terms of the transaction were not disclosed, but it will enable ...
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Investment Firm Steps In At Fritschi
V. Nordeck International Holding has acquired a 70 percent stake in Fritschi, the Swiss specialty manufacturer of ski bindings, from Andreas and Christian Fritschi. Andreas Fritschi continues to keep 25 percent of the shares, while the other 5 percent go to Stefan Ibach, who has been the company’s managing director ...
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Swim Brands React To Fina’S New Ban
With the World Championships of swimming just concluded in Rome serving as the backdrop, Fina has voted to change once again its bylaws concerning swimsuits – this time drastically. While these garments can continue to boost performance in the pool, they will have to adhere to certain length restrictions and ...
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Even The Big Guys Feel The Pinch
The Adidas Group was not immune to the continuing tough economic climate, which contributed to a fall of 2.5 percent to €2,457 million for the group in the second quarter, equivalent to a decline of 8 percent at constant currencies. The disappointing performance of Reebok in some countries prompted the ...
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Donwgrade For Reebok, Higher Market Shares For Taylormade
Reebok’s sales declined by 4.3 percent to €449 million, a fall of 8.6 percent in constant currencies for the quarter. The situation at the end of the six months motivated a downgrade in the group’s forecast for Reebok’s sales in the full year, predicting a low- to mid-single-digit sales decline ...
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Adidas Group Reshuffles Responsibilities
Separately, the Adidas Group announced last week that it was separating the responsibility between global brand and global sales management on its executive board. Herbert Hainer, the chief executive and chairman of Adidas Group, will also be in charge of global sales. Reporting to him will be Roland Auschel, chief ...
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Puma’S Sales Rise, But Earnings Fall In Quarter
Puma had a small increase in sales for the second quarter ended June 30, rising by 4.1 percent to €600.3 million, but on a currency-neutral basis sales were flat. Earnings fell by 15.6 percent to €38.5 million. The sales figures were boosted by about 3 percent due to early deliveries ...
