Latest Headlines – Page 467
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Blacks Plans A New Overhaul
The British outdoor retailer has come forward with a new plan to restore the company’s financial performance, after dismal sales of boardsports apparel dragged down the entire group’s sales over the festive season. Sales in Freespirit and O’Neill stores were off by 10.8 percent in the six weeks ended on ...
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Sports Direct Confirms Guidance
The management of Sports Direct International foresees an increasingly difficult retail environment in the UK over the next six months, but says the “resilience” of its business allows it to stand by the forecast it had made last Dec. 19 for its performance during the financial year through the end ...
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Adidas May Soon Look For Another Acquisition, Maybe An Outdoor Company
Herbert Hainer, Adidas’ chief executive, said in an interview with the Süddeutsche Zeitung earlier this month that the company may be able to achieve its targets in terms of financial leverage earlier than planned. While it was hoping to reach a debt/equity ratio of 50 percent by 2010, compared with ...
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Ashworth Acquires Sun Ice
Ashworth Golf Company has acquired the Sun Ice and Sunice trademarks from the Fletcher Leisure Group (FLG). FLG, one of Canada’s leading suppliers of golf apparel and equipment, is owned by Ashworth’s new chief executive, Allan Fletcher, who has been with the company since October of last year. ...
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Luxottica Will Run Oakley Differently In Europe
Luxottica, which took over Oakley last November, has decided to set up a new company in Zurich to coordinate sales of Oakley products to the sporting goods trade all over the continent, except in the UK. Sales of Oakley products to opticians will be handled by Luxottica’s own sales network. ...
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Freddy Opens Its Biggest Store
Freddy, the leading Italian brand of fitness and dancewear, will open its biggest store in London’s Covent Garden next March. Measuring about 300 square meters, it will take two of the three floors of a building in the district. The third floor will house an office and a showroom for ...
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Munich Wins Against Umbro, Launches Custom-made Shoes
This Spanish brand of sports and lifestyle footwear, well known for its stylish sneakers and its shoes for footsal (indoor soccer) and handball, continues to produce about 150,000 pairs annually at its factory near Barcelona, while sourcing more than 500,000 pairs in Morocco, Tunisia and China. This asset allows the ...
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Vendors Are Urged To Save The Summer Ispo, One Week Later With Less Fashion
Present and former ISPO exhibitors have received a letter, signed by important personalities, asking them to support Messe München’s plans to stage the Summer edition of the fair based on its former sports-specific concept. Taking its cues from a recent meeting of ISPO’s advisory board, the letter says the dates ...
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Many Seasoned Executives Become Consultants
The process is well-known in any business, but it has taken on major proportions in the sporting goods sector in the last few weeks, in preparation for the usual networking at a mammoth ISPO show. Women first: After 18 years of work for several major sports brands, Chrissy Dorn has ...
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Sporting Goods Industry Stocks Rise By 16.9% In Dollars
The weakness of the U.S. dollar, new phenomena like Under Armour and Lululemon and the fast-paced development of Chinese companies all aided the sporting goods industry to record a 16.9 percent increase in their combined stock market capitalization in 2007. However, in local currencies, European sporting goods firms registered an ...
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Positive Christmas For Jd Group
The John David Group said today that it expects better earnings than those estimated by market analysts for the financial year ending next Feb. 2, thanks to a positive development of the Christmas selling season. The British sporting goods retailer has been performing better than its main rivals, which are ...
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Nike's Takeover Of Umbro A Go As Sdi Sells Its Stake
Nike’s takeover of Umbro International should go ahead unimpeded later this month. Sports Direct International (SDI), which acquired 29.9 percent of Umbro as a means to influence the deal, has sold a stake of 19.9 percent to Nike and given an irrevocable undertaking to vote in favor of the takeover ...
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Garant Comes Out Of Insolvency
Garant Schuh + Mode has come out of the biggest insolvency in German history since a new law governing this kind of case was enacted in 1999. The insolvency court in Düsseldorf decided that the international German-based buying group is now viable enough to stand on its own feet, thanks ...
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Norwin Acquires Lundhags
Lundhags is a rather special family-owned Swedish company that has gone through several stages of development. After establishing a strong reputation for itself as a supplier of sturdy outdoor boots, it began marketing some special long-distance ice skates – a sort of clap-skates that the company calls Nordic skates – ...
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Rottefella’S Ceo Switches To Swix
Ulf Bjerknes, a 49-year-old manager who has done wonderful things as chief executive of Rottefella in the last four years, is going to replace the departing Randy Setershagen as chief executive of another Norwegian company, Swix, before the end of June. Described as the world’s leading supplier of ski ...
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Cortina Acquires Patrick Holding
The Belgian-based Cortina Group, one of the biggest European trading companies in the footwear business, has acquired full ownership of Patrick Holding from a Danish investor who had already sold it 50 percent of the shares last June. It has also taken over full ownership of Leomil Europe, a Dutch ...
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Rucanor Makes Nos Deal With Dunlop Slazenger
Rucanor, the Dutch sports company, has obtained an agreement to distribute never-out-of-stock (NOS) ranges of products by Dunlop Slazenger to customers in the Netherlands and Germany. The deal was attributed to Rucanor because in 2006 it launched a remarked-upon NOS concept for its own customers around Europe. Dunlop Slazenger’s ...
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Operalp Will Distribute Speedo In Italy
Speedo has completed the process of farming out the distribution in all the markets outside the UK. Following similar moves in France, Germany, the Scandinavian countries and Australia, where it previous controlled the distribution, it has appointed a strong wholesaler, Oberalp, as its exclusive distributor in Italy, effective with last ...
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Vf Sees Faster Growth Ahead
VF Corp. is raising its forecast for annual sales growth from a previously set rate of 6-8 percent. It is now looking at a compound annual growth rate of 8-10 percent over the next five years, making it reach $11 billion in revenues from the current level of $7 billion. ...
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Sherborne Secures Control Of Nautilus
Sherborne Investors, the equity firm that has been challenging Nautilus’ performance and strategies, has practically won a fight for control of the company’s board of directors. A recent shareholders’ meeting voted to elect four representatives of Sherborne to the board, joining three other members including Bob Falcone, who remains for ...
