Latest News – Page 29
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International sales lift Under Armour
Under Armour bounced back from a difficult period, reversing its year-ago loss of $30.2 million to post net income of $22.5 million for the first quarter of 2019. Sales rose by 2 percent to $1,205 million, topping analysts' expectations. Shares surged by 9 percent after the announcement.While North American revenues ...
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Brunswick sells Life Fitness to a PE firm
Unlike VF Corp., which has spun off its jeans business into a new company owned by its shareholders, Brunwick Corp. has chosen the alternative of a straight sale of its fitness division to a New York-based private equity firm, KPS Capital Partners, for about $490 million in cash, following the ...
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Nike adds a digital solution to a growing market
According to Nike, industry research suggests that 60 percent of the public wear shoes of the wrong size. In response, the Oregon-based sports behemoth has spent the past year working out a new selling scheme. In addition to branding, style, quality and materials, Nike is going to play up the ...
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Adidas presents its first fully recyclable running shoe
Adidas has unveiled the new Futurecraft.Loop, a 100 percent recyclable performance running shoe that is meant to contribute to the global battle against plastic waste. The company has described the shoe as its “first running shoe that is made to be remade.” The Futurecraft.Loop is aimed at enabling a “closed ...
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Authentic Brands Group buys Volcom
Following Kering's separation from Puma and Stella McCartney, the French group led by François-Henri Pinault has now also sold Volcom, completing the disposal of all its sports and lifestyle brands. Kering, which had already indicated its intentional to divest the Californian surf, skate and snowboard label a year ago, has ...
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Former Prince chief runs a new start-up: Slinger Bag
Slinger Bag is a rather revolutionary, patented product that is expected to help stimulate the largely static level of participation in tennis around the world. It is described as “your 24/7 tennis partner” and as the most versatile portable launcher of tennis balls in the market, allowing individuals to practice ...
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Under Armour opens new EMEA office
While covering other sports categories, Under Armour has chosen to focus on training and running to build up its brand image in Europe, said Massimo Baratto, senior vice president in charge of Europe, Middle East and Asia (EMEA), during the official opening of a brand-new headquarters in Amsterdam early last ...
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Adidas teams up with Beyoncé
Beyoncé, the popular American singer, dancer and actress, is going to become a “creative partner” of Adidas, helping to design apparel and footwear products that will eventually be co-branded. Adidas will also help relaunch her Ivy Park brand. Adidas has benefited a lot from similar deals with other musical actors ...
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Polartec is in good shape ahead of its sale
While confirming reports that their company is up for sale, officials of Polartec feel confident that it has the right products for the market, following a series of strategic moves taken in the past few years, as shown in part by the awards that it has recently won. The new ...
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Amer’s new investors want total board control
After receiving pledges for about 94.98 percent of the voting shares in Amer Sports, even before the deadline of March 29 set for the completion of the tender offer, the Mascot Bidco consortium proposed yesterday to change completely the composition of Amer's board of directors at an annual general meeting ...
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Strong sales for Fila, helped by Anta
Although its sales and operating profits soared, Fila saw its net income for the fourth quarter of 2018 tumble by 74 percent from the year-ago period, down to 3,872 million Korean won (€3.0m-$3.4m).Including the results of Acushnet, the golf company in which Fila holds a 53 percent stake (see the ...
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A new design chief for Under Armour
The shoe designer Dave Dombrow has made his second exit from Under Armour in three years. The Baltimore-based company has confirmed the departure but made no further comment. However, it has since hired Kasey Jarvis to replace Dombrow as of April. For the past months, Jarvis has been director of ...
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Good quarter for Nike
Nike delivered a strong third quarter for the three-month period ended Feb. 28, particularly in terms of sales growth in Europe and China. On a currency-neutral basis, the Nike brand's sales went up by 12 percent in Europe, the Middle East and Africa (EMEA) and by 24 percent in Greater ...
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A record Ebit margin for Adidas
The Adidas Group reported last week a 20 percent increase in net income to €1,709 million from continuing operations for 2018. Excluding losses from discontinued operations – which, as a result of last year's divestiture of Rockport, declined last year to €5 million from €254 million the year before – ...
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Shankland will lead the Adidas Group’s operations
The 47-year-old Australian native, who has been with Adidas for 22 years, took the place of Gil Steyaert on the executive board of the Adidas Group at the beginning of this week to be charge of global operations. Steyart, a 56-year-old Frenchman who has been sitting on the board for ...
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Anta puts pressure on Amer’s shareholders
Changing the cards, Mascot-Bidco, the investment vehicle set up by a consortium of investors led by Anta Sports Products for the takeover of Amer Sports, has given 4 PM Finnish time tomorrow as the deadline for obtaining pledges for at least 90 percent of Amer's shares. It had previously extended ...
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Anta’s sales and profits surge
Anta accelerated its expansion in 2018 with a sales increase of 44.4 percent to 24.1 billion yuan renminbi (€3.2bn-$3.6bn), which led to an unprecedented profit for the Chinese group. The company's gross margin firmed up by 3.2 percentage points to 52.6 percent, while the operating margin inched down by 0.2 ...
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Altra picks up speed in Europe
The demand for the American brand of running shoes has been picking up strongly in Europe following its acquisition in June 2014 by VF Corp., which is integrating it with its other sales and marketing operations in the region. As before, when it was owned by Icon Health & Fitness, ...
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Nike remains the most valuable apparel brand
Remaining in the N° 1 spot in the rankings of Brand Finance, the Swoosh consolidated its position last year as the most valuable brand of clothing, with its value rising by 16 percent to $32.4 billion.The consultancy said that Nike's progress had been driven by its high-impact marketing strategies at ...
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Better-than-expected results for Under Armour
Boosted by strong international sales and a vast restructuring plan undertaken in 2017 after a series of weak results, Under Armour is turning around, posting results for the fourth quarter that topped its own guidance.The company identified cutbacks and investments that raised restructuring and related charges to $183 million throughout ...
