LATEST – Page 176
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ArticleAnalysis: Covid-19 sinks sporting goods industry stocks
Declining more than the stock market in general, the share prices of public sporting goods companies have taken a serious beating since the Covid-19 outbreak began with the start of the Chinese New Year, falling overall by 32.3 percent on average through the end of the first quarter.
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News briefs
K2 signs sponsorship deal with Thomas Delfino
K2 Snowboarding has added Thomas Delfino to its sponsorship roster. The 30-year-old Frenchman rode international park and backcountry freestyle before switching to split boarding and freeride expeditions. He has appeared in two movies: Shelter and Zabardast.
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Interesting anti-virus action online
Provided that they have sufficient staff at their warehouses, brands are still able to sell products online that cannot be sold by retailers whose stores are closed because of national coronavirus lockdowns. In a nice gesture of solidarity, brands like Ortovox and Leki in Germany are giving a portion of ...
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ArticleDecathlon, Nike and others make anti-virus gear
(Updated on April 8) After a successful experiment in Italy (see our previous issue), Decathlon is working with the same Italian 3D printing specialist to adapt its Easybreathe snorkeling masks for the production of respiratory masks that it is donating to hospitals in France and Spain. It has taken all ...
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Columbia and VF executives cut their paychecks
Without going as far as Tim Boyle at Columbia Sportswear, Jim Rendle, chairman, president and chief executive of VF Corp., has pledged to cut his compensation in half for the next four months to help save cash for the fight against the coronavirus outbreak. Boyle, president and CEO of Columbia, ...
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ArticleWintersteiger proposes a drying cabinet for disinfection of face masks
To support emergency and medical personnel in times of the Covid-19 pandemic, Wintersteiger has developed a new drying cabinet: The Pure CO18 is used for the chemical-free disinfection of protective masks and hygiene-related utensils. In addition to the drying process, ozone is used to effectively reduce germs. The Austrian ski ...
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Article
Puma will hold a virtual AGM, Adidas will pay rent
Puma announced on April 3 that it was suspending the payment of its dividend for this year. Unlike Adidas, which has decided to postpone its own AGM to a still undefined date, the Wild Cat has decided to stick to the previously scheduled date of May 7, but it will ...
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Asics introduces three shoes virtually
Asics has announced the release of three new models of shoes: the Metaracer, the Metarise and the Metasprint. The Japanese company had planned to introduce the shoes at an Asics Innovation Summit in Tokyo. In response to the Covid-19 pandemic, however, it has opted instead to produce its first virtual ...
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News briefs
Management changes at Eastpak and Kipling
VF Corp. saw a number of management changes on April 1. Nina Flood, until now president of Kipling Americas, left to become president of another VF brand, Eastpak. Settling in Antwerp, Belgium, Flood now has charge of the backpack brand’s marketing and sales operations and is reporting to Martino Scabbia ...
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ArticleGaleria and Karstadt Sports get protection from creditors
Galeria Karstadt Kaufhof (or Galeria for short), the new holding company formed last year from the merger of the Galeria Kaufhof and Karstadt department stores, submitted an application for protection from its creditors which was approved by the local court of Essen on Wednesday. Stressing that the proceedings are not ...
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News briefs
Hoka One One Frodo
Hoka One One, a division of Deckers Brands, has announced a multi-year sponsorship deal with Jan Frodeno, the triathlon legend known as “Frodo.” The German athlete will wear the brand’s high-performance footwear for the next three seasons. Frodeno, who is 38 years old, won the gold medal in men’s triathlon ...
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Kathmandu’s sales jump by 52% on Rip Curl’s acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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News briefs
Milliken scales up U.S. production of BioSmart fabric
Milliken & Company, the new owner of Polartec, has increased U.S. production of its BioSmart fabric, a patented bleach-activated technology that uses the power of readily available chlorine bleach to kill 99.9 percent of bacteria and viruses. With the increased need for medical protective clothing during the ongoing corona crisis, ...
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News briefsNew anti-virus treatment from Polygiene
Polygiene announced the launch of a new product called ViralOff. According to the Swedish specialist in freshness and odor control technologies, over 99 percent of the viruses on a garment treated with ViralOff are killed within two hours. All viruses so far tested according to the ISO18184:2019 standard - from ...
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Article
Yue Yuen posts mixed results
Yue Yuen Industrial Holdings, the world’s largest footwear producer, reported a 4.2 percent increase in sales to $10,105 million in 2019, driven by a double-digit increase in retail revenues. However, the Chinese company’s gross margin lost 0.3 percentage points, going down to 24.9 percent. and its net income fell by ...
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Li Ning’s profits soar
Even though it faced a difficult comparison base due to a stellar year in 2018, Li Ning managed to more than double its net income in 2019 to 1,499 million yuan renminbi (€192.2m-$211.4m). The Chinese sports company’s annual sales jumped by 32 percent from the previous year to 13,870 million ...
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Fila performs well in Europe
The Italian heritage sports brand’s momentum remained particularly strong in Europe during the fourth quarter of 2019, as Fila Korea’s licensing royalties from the region surged by 47 percent from the year-ago quarter to 39,200 million Korean won (€29.2m-$32.0m).
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News briefs
Rossignol and Julbo / Fourcade
Rossignol and Julbo will continue to partner with Martin Fourcade, despite his surprise retirement announcement in mid-March. According to reports in sport-guide.com, the French biathlete and five-time Olympic champion has signed a three-year extension of his contract with Rossignol. Julbo also told sport-guide.com that it will further extend its long-standing ...
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Article
Wolverine wants to save $500 million
As reported in a separate article, Wolverine Worldwide was one of the companies operating in our industry that got the biggest hit on the stock exchange between Jan. 24 and March 31. On March 26, Wolverine released a detailed statement about the proactive and precautionary measures that it is taking ...
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A stellar year for Lululemon
Lululemon Athletica ended the year the same way it started, with sales and profits soaring. This was expected, since the company raised its guidance in January to reflect a better-than-expected holiday period.
