Latest Headlines – Page 434
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Scheck Is Confident Expanding To Russia
SportScheck, Germany’s leading specialty sporting goods chain, has launched its online and mail-order business in Russia. Stefan Herzog, the company’s managing director, points out that he does not feel concerned by the difficult climate of consumption in the country, nor by the fall of the Russian ruble. The Munich-based ...
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Arcandor’S New Boss Re-defines The Group’S Strategy
Karl-Gerhard Eick, the new chief executive of the group formerly known as KarstadtQuelle, has submitted a plan to the supervisory board to turn the group’s cash flow from negative to positive in all three of its core businesses: mail-order under the Primondo/Quelle flag, the Karstadt department and sports stores and ...
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Is Go Sport Turning Around?
Groupe Go Sport reports a 1.9 percent sales decline to €171.7 million for the first quarter ended March 31, but sales grew by 0.1 percent on a comparable basis and in local currencies, with an excellent performance for the Go Sport chain in France and Poland. On the other hand, ...
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Macintosh Holds Firm Despite Brantano Effect
Macintosh Retail Group, owner of Pro Sport stores in the Netherlands, managed to roughly uphold the sales of its fashion division last year excluding the acquisition of Brantano, the Belgian and British shoe retail chain. The division lifted its sales to €612.8 million, up from €339.2 million in 2007, and ...
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Head Sends Out Warning Signals
Head N.V. has announced that it is proposing a private deal to exchange its outstanding €135 million worth of 8.5 percent senior notes that come due in 2014 for its new 10 percent senior secured notes, also due in 2014. Only certain holders outside Italy will be offered this option ...
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K2 Changes Madshus’ Management
Lars Hanstad has abruptly lost his job as managing director of Madshus after almost 34 years with the Norwegian producer of cross-country skis. K2 Sports, the subsidiary of Jarden Corporation that owns Madshus, said he has been replaced by Nils Hult, who has served in various roles of increasing responsibility ...
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Former Spanish Reebok Chief Will Distribute Speedo
Continuing the reorganization of its sales apparatus in Europe, Speedo has decided to transfer the distribution of its brand in Spain from Sport Concept to a company being set up by Francisco (Paco) Borja in Elche following his planned recent resignation as country manager of Reebok in Spain. The new ...
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Backed By A New Sales Network, Dainese Expands Its Product Range
For this Italian high-technology company, where motorcycling has been the core business from the start, sporting goods represent only about 20 percent of its turnover, which fell slightly to €105 million in 2008. One of the missions of the new sales management put into place one year ago is to ...
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Wfsgi Takes Action Against Protectionism
Despite the agreement from G20 countries to avoid protectionism, China’s footwear industry is facing current and possible further safeguard measures from countries such as Argentina, Ecuador, Canada, Russia and Turkey. Following the lead of the European Union, these countries have resorted to import licensing, import tariffs and surcharges on products ...
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Ebay Pleads For Anti-piracy Measures
A review of European data privacy regulations is being requested by eBay to help fight against the sale of counterfeit products over the internet, just as the European Union is launching its new European Observatory on Counterfeiting and Piracy. In presenting its recommendations to the European Commission, the world’s ...
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Intersport Moves Into Asia Via Korea, Enters The U.S. Via Forzani Group
Marking two important steps toward its goal of becoming a truly global retail brand, Intersport International Corporation (IIC) has signed a master franchising agreement for the Korean market with LG Fashion. It has also licensed its shareholder and Canadian licensee, Forzani Group, to market IIC’s own collection of private-label items ...
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Décathlon Grows By 11%, Plans To Enter New Markets
Oxylane Group, the French company behind Décathlon, lifted its sales by 11.1 percent to €4.966 billion before sales taxes last year. This was partly due to many store openings, but comparable sales in stores that have been trading for at least two years still increased by 5.3 percent in 2008. ...
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Migros Posts Strong Growth In Sports And Elsewhere
Migros, the huge Swiss co-operative, increased its sales by a stunning 13.5 percent to 25.8 billion Swiss francs (€16.9bn-$22.8bn) in 2008. The driving force behind the growth was retailing, with an increase of 16.3 percent to CHF 21.6 billion (€14.2bn-$19.1bn). Earnings before interests and taxes (Ebit) were up by 6.1 ...
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Schuster Eyes E-commerce As Sales Continue To Grow
Schuster, Munich’s big player in sporting goods retailing, increased its sales by 9 percent to €45 million before VAT in 2008. This figure is for the entire group, including the main house, Sport Münzinger, as well as the flagship stores of Lacoste and The North Face. The core house, ...
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Asics Takes Over The Distribution In Scandinavia
After establishing its own sales subsidiaries in Poland and Russia, Asics has agreed to acquire 100 percent control of Asics Scandinavia, the company that is covering the Norwegian, Swedish and Danish markets for the brand, starting next July. The Japanese company is paying the equivalent of €23 million for the ...
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Possibly Unfounded Tax Scandal Around Adidas
Adidas firmly dismissed reports that it has been targeted by French investigations into the suspected laundering of money issued from tax evasion through bank accounts in Liechtenstein. A spokeswoman for the public prosecutor in Paris confirmed that it was looking into such alleged wrongdoings but that they did not concern ...
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Movement Around Le Coq
Antoine Sathicq, former general manager of Adidas France and Le Coq Sportif, will become general manager of Mercure International, a small conglomerate based in Monte-Carlo that deals with food, sports and fashion retailing. Sathicq abruptly left Le Coq over strategic divergences last year and he will move to Monaco to ...
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Jjb Sports Wants To Make Peace With Its Landlords
JJB Sports, the troubled British sports retailer, has finalized its proposals for a company voluntary arrangement (CVA) allowing for payments to be made to some of its creditors. One major provision compromises the claims of landlords of about 140 closed stores, and allows for monthly rent payments to the landlords ...
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Dutch Company Buys Stake In Mistral
Van Merksteijn International, a Dutch manufacturer of steel-based products, has acquired a majority stake in Mistral International BV, the owner of the wind-surfing brand. Mistral International BV was set up last year as a joint venture between Ado Huysman, a well-known Dutch investor in the sports business, and Boards & ...
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Vf Places Vans And Reef Under Common Management In Europe
The move mirrors a similar process that took place earlier this year in the Americas, with the former global brand director of Vans, Steve Murray, taking responsibility for both brands in connection with the establishment of the new Action Sports Coalition of VF Corporation. The new vice president ...
