Latest Headlines – Page 429
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New Management As Pou Sheng Profit Drops; Yue Yuen Stable
David Tsai is replacing Liu Wen Xin as chief executive of Pou Sheng on an interim basis while the company looks for a permanent replacement. Liu has been named general manager of the Chinese company’s retail operations. This major wholesaler and retailer of athletic footwear is forming an executive committee ...
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News And Winners From Fishing Tackle Trade Show
Quoting some of its German members, the European Fishing Tackle Trade Association (EFTTA) said that they are holding their own in the country’s difficult economy. Dieter Willenbruch, the marketing director of Fisherman’s Partner and a shareholder in Daiwa Cormoran, said the recreational and sport fishing market seems to be six ...
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Analysis: The sports equipment market 2008
Thanks to some strong performance overseas by bicycle makers, the global sports equipment market had a 1.2 percent gain at the wholesale stage in 2008, reaching a value of nearly $60 billion. However, in the U.S., where weak categories like golf and fitness play a greater role in the marketplace, ...
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Geox’ Controlling Shareholder Is Set To Take Over Diadora
Geox announced yesterday that its founder, chairman and controlling shareholder, Mario Moretti Polegato, has been chosen as the preferred bidder for the embattled sportswear group Diadora, which is owned by Marquis Gianluca Spinola.Polegato made an offer through LIR, a holding company that he owns with his son Enrico. LIR already ...
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New Sport 2000 Licensees In Bulgaria And Latvia
While looking at some other markets, Sport 2000 International has entered Bulgaria and restructured its presence in Latvia. The partner in Bulgaria is Sport Depot, a rather dynamic wholesaler and retailer that will become the exclusive franchisee of Sport 2000 in the country next month. Sport Depot is planning to ...
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Kooga Is Cutting Back As Jjb Considers Its Sale
Kooga, the British rugby apparel brand, has started to lay off staff and to cut back on marketing expenses due to acute market pressure in the United Kingdom. JJB, the British retailer that acquired 48 percent of Kooga two years ago, has apparently opened talks to sell off this stake, ...
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Big Bonus Possible For Sports Direct Employees
Mike Ashley, the owner of Sports Direct, is reported to be considering a bonus scheme for his 2,000 employees at the retail chain that would give each one an average of £25,000 (€29,560-$40,910) worth of free shares. The £50 million (€59.1m-$81.8m) plan would go into effect if the company meets ...
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Amer Revises Guidance And Reorganizes Top Management
Amer Sports has revised its guidance for the current fiscal year, now saying that the global economic slump will lower its operating profit compared with last year, unless market conditions improve materially over the balance of 2009. In February it had said it expected an improvement, thanks especially to better ...
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Accell Group Expands Reach In Scandinavia
Accell Group NV, which generated 44 percent of its nearly $595 million in bike sales in the fiscal year 2008 in the Netherlands, has expanded its reach in the Scandinavian bicycle and bike parts market with the acquisition of Raul Hellberg Oy of Finland and affiliated companies. The purchase price ...
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K2 Executive Gets Top Sales Post At Rossignol
Groupe Rossignol has announced the creation of two new top management positions to help implement its ambitious recovery strategy, bringing in two experienced executives from outside. They will both work closely with Bruno Cercley, president and chief executive of the French group, who is taking on direct responsibility for human ...
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New Appointments At Agu
Two managers have been appointed to the board of AGU Holding, a leading Dutch sports supplier and wholesaler, as its chairman is preparing to hand over his responsibilities. AGU is the holding company above four firms – AGU BV, Hesling Products, Jacobsons and Van Megen Sports Group – that deal ...
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Fedas And Fesi Want To Work More Closely
Describing it as a “long-term vision,” Claude Benoit, the Swiss secretary general of the European shoe retailers’ federation (Fedas), sees producers and retailers of sporting goods working together in a single association at the European level at some point in the future because of they are sharing more and more ...
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Otto And Metro Circle Over Karstadt’S Bankrupt Businesses
Yesterday, Arcandor filed for bankruptcy at a court in Essen, Northrhine-Westphalia. The holding company announced that its subsidiaries Karstadt Warenhaus, Primondo (which is the head of the group’s mail-order operations) and Quelle are also seeking protection under the German bankruptcy code. Arcandor’s move excludes the group’s profitable tourist operations under ...
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Intersport Outperforms The European Market
Intersport clearly outperformed the market in 2008 as its affiliated retailers raised their total sales by 4.2 percent to €8.9 billion. About 3.2 percentage points of the growth could be attributed to the addition of new stores, so the organic growth of the Intersport network came down to about 1 ...
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Jd Fashion Trumps Sports
JD Sports Fashion, the British retailer, continues to turn in positive figures, in contrast with its major competitors and with the general economy. In the eight weeks ended on May 30, its comparable store sales grew by 1.7 percent. In its sports division the rise was 1.2 percent, while the ...
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Boardsports Continue To Depress Blacks
The sales of Blacks Leisure Group fell by 9.1 percent to reach £267.6 million (€310.5m-$435.6m) for the fiscal year ended Feb. 28. The loss for the year was £14.4 million (€16.7m-$23.4m), compared with a loss of £9.3 million in the previous year, but that includes impairment, lease and restructuring charges ...
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Quiksilver Should Stay As It Is
After exploring the possibility of divesting its fast-growing DC brand of skate shoes, or perhaps Roxy, the Quiksilver group has decided against these options after obtaining new financing. Although the group has yet to complete its negotiations with its French bank partners to reschedule a June 30 deadline for repayment ...
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Babolat Defies The Market
Babolat remains optimistic in spite of the economic crisis and the defeat of its star player, Rafael Nadal, in the Roland-Garros tennis tournament just finished. The French company became the biggest supplier of premium tennis racquets in Europe last year, according to Sports Marketing Surveys, and its sales are expected ...
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Lotto Improves And Prepares A New Technology
The victory at Roland-Garros of Robin Soderling, who is sponsored by Lotto, against Rafael Nadal obviously pleased the Italian company. The final financial results show that Lotto Sport Italia’s direct and wholesale-equivalent sales increased by 4 percent in 2008, reaching €311 million, which was a little better than previously expected ...
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Lafuma Expects Better Margins, After A Big Loss
The recently recapitalized Lafuma Group reported a net loss of €3.2 million for the first half of its financial year, through March 31, worse than its loss of €0.7 million in the same period of the previous year. However, operating charges and capital investments are being reduced as part of ...
