Latest Headlines – Page 514
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Life Fitness Improves Margins Strongly
With a large tax break, the parent company of Life Fitness, Brunswick Corporation, watched its net income jump by 50 percent to $88.3 million in the 4th quarter, ended Dec. 31. Total group sales rose by 12 percent to $1,489.5 million. In the same period, the Life Fitness division ...
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Vendors And Retailers Form A New Industry Association In Norway
Until now, the Norwegian sporting goods industry was represented only by Norspo, an association of 65 suppliers, which has been organizing a national trade show by the same name and producing the eponymous national trade publication. Seven major retail chains including the country’s largest sporting goods retailer, Gresvig, have now ...
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Splinter Group Of Intersport Sverige Seeks A Wider Range Of Brands
Raketsport, a chain of 13 Swedish sporting goods stores in Stockholm that means “Rocket Sport,” has caused a storm in the country’s industry by announcing that it is breaking away from Intersport Sverige after the Spring/Summer season The dissident group has developed an alternative shop concept, called Go, that will ...
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Blacks And Jd Are Doing Better Than Jjb
Pentland Group has raised by half a percentage point to 57.1 percent its controlling interest in The John David Group as the British sporting goods and fashion retailer reports a 4.7 percent sales increase on a same-store basis for the 8 weeks ended Jan. 7, with a 6.0 percent increase ...
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Rossignol Sells Hot And Hammer To Sevysa Sport
The Rossignol Group will continue to handle the manufacture of these two French brands of snowboards, which it had taken over several years ago, but it will concentrate its sales efforts in this category on the Rossignol brands and on those of Quiksilver, including Gnu, Libtech and Roxy. The deal ...
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Mayfair Denies Puma Sale To Nike
A new spate of unconfirmed rumors around a possible bid by Nike for Puma pushed the latter’s share price to a record of €260 last week, raising its market capitalization to an all-time high of €4.21 billion (=$5 billion). Mayfair subsequently denied any intention to sell its stake of 25.3 ...
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Lotto Re-launches In China With A Joint Venture
Lotto hopes to achieve $15 million in sales in China this year, rising to $100 million by 2010, through a new joint venture with Scienward International, a Hong Kong-based sister firm of a Chinese company that has been making apparel for Lotto for seven-years. Scienward already has a joint venture ...
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Under Armour Sets Up A European Office
Under Armour, the fast-growing U.S. company specializing in high-performance sports apparel, is opening European headquarters in Amsterdam to steer its onslaught on the European market. The operation will be led by Ryan Wood, partner and sales manager of the U.S. company, who was appointed as president of international sales. Mark ...
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New Eurochief For Gbmi
Roelof de Leeuw is heading up the newly-created European operations of GBMI, the American group that owns Pony and licenses a flurry of shoe brands including Diesel and Nautica. The move is intended to spread distribution of these brands throughout Europe and to gradually set up sales offices or full-fledged ...
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Gaastra Will Go Private
The management of McGregor Fashion Group, the Dutch company that owns Gaastra Sportswear, is mulling a tender offer that would delist the group from the Euronext stock exchange, while investing more forcefully in international expansion. The bid has been supported by McGregor’s board, and it is likely to be launched ...
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Russell Eliminates 2,300 Jobs
The American company hopes to save $22-26 million annually after taxes with a restructuring plan that will cut 2,300 positions globally and shift more of its domestic production to other countries. The move will involve extraordinary expenses of $45-52 million after taxes, half of which will be charged to the ...
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Stride Rite Absorbs Saucony, Anticipates Europe Expansion
Saucony, whose Hurricane 8 running shoe was selected as «editor’s choice» in Runner’s World’s upcoming footwear review, is leading the brand’s new owner, Stride Ride Corp., to focus its attention on Europe, which represents a large portion of Saucony’s annual sales of $150 million in athletic footwear. Because of the ...
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B&B Scores It Big, Pitti Uomo Less
The Jan. 18-20 session of Bread & Butter in Barcelona was a big success, registering a total of 48,000 passages through the gates as compared to 45,000 for the first event in the city last July. Visitors from Spain and Portugal represented 37 percent of total attendance, followed by the ...
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The Sporting Goods Stocks Grew By 23.9% In 2005
Their performance was better than that of the equity market in general, with Asian and European stocks outperforming North American companies. The stock market capitalization of American sporting goods firms, which dominate the publicly quoted industry, registered a combined 14.1 percent increase in 2005. However, European stocks grew by a ...
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New Management Structure For Adidas And Reebok
Erich Stamminger, Adidas-Salomon’s current executive board member in charge of global marketing, is appointed to the newly created position of president of the Adidas brand. Paul Harrington, a member of Reebok International’s top management, is named as president of the Reebok brand, while another American, Mark King, remains in charge ...
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Gresvig Takes Over Voice
An extraordinary meeting of shareholders will decide on Jan. 27 on Gresvig’s acquisition of Voice Norge, a chain of apparel boutiques that represents about 6 percent of the total Norwegian clothing market, and its holding company, O.N. Sunde. The takeover will follow the recent acquisition of a 52 percent stake ...
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Intersport Predicts A 5% Sales Increase In Germany
Karstadt and many other German retailers have reported on a relatively good Christmas selling season across all product categories, indicating a possible turnaround in the country’s depressed market situation. In its usual meeting with the press before Christmas, the management of Intersport Deutschland confirmed this trend, mentioning an 8 percent ...
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Jjb Sports Hopes For Better Results
JJB Sports warned investors last week that its pre-tax profits for the financial year ending Jan. 29 will fall below market expectations, ranging between £32 million (€47m-$53m) and £36 million (€57m-$64m), after a “disappointing performance” in the 22 weeks ended Jan. 1, where its gross margin declined by 320 basis ...
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Decathlon Has A New Country Manager For The Usa
Juan-Luis Betancourt has become Décathlon’s new country manager in the USA, a country where the world’s second-largest sporting goods retailer is still struggling. Sales at its four remaining U.S. stores have been rising sharply in recent months, following the certification of many of its private label products, but while consumers ...
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Npd Panel Shows Older People Spend More On Sporting Goods
The deflationary trend in the European market for sports clothing and footwear continued during the 12-month period ended last Sept. 30, according to the quarterly audit of NPD Sports Tracking Europe. Average prices declined by 2 percent in sports footwear and by around 5 percent in sports and leisure apparel ...
