More about brands – Page 73
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News briefs
Li Ning raises equity by €1.16bn for international expansion and other purposes
Li Ning Company said it is planning to sell 120 million new shares worth a total of HK$10.5 billion (€1.16bn-$1.35bn) to raise funds for its international expansion, which has not been easy until now, and for investments in new product categories. The proceeds would also be used for the establishment ...
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ArticleBasicNet reports improved results
BasicNet said its Ebitda for the third quarter ended Sept. 30 was 23.7 percent higher than in the same period of a year ago and 6.3 percent higher than in the third quarter of 2019. Without providing a quarterly breakdown for other key indicators, the Italian-based parent company of Kappa, ...
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ArticleMoncler accelerated in Q3
The Moncler Group’s revenues grew by 55 percent on a currency-neutral basis to €555.5 million in the third quarter, including €100.1 million in incremental sales from the recently acquired Stone Island brand, whose results were consolidated as of April 1. Accelerating from the first half, the core Moncler brand saw ...
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ArticleAfter a Q3 sales miss, Columbia lowers FY sales outlook, raises profit forecast
Columbia Sportswear has lowered its sales outlook for the year but raised its profit forecast, despite weaker-than-expected third-quarter revenues due to supply-chain constraints. The group’s quarterly sales rose by 15 percent to $804.7 million, against forecasts of $862 million. Beating expectations, net income jumped by 60 percent to $100.6 million ...
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News briefs
Garmin performed better in fitness than outdoor in Q3
The fitness segment outperformed the outdoor segment in Garmin’s third quarter, ended on Sept. 25, but the company is still predicting 17 percent growth in both segments for the full financial year. Outdoor segment revenues fell by 3 percent to $323.8 million, due primarily to the timing of new product ...
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News briefs
Wolverine amends its credit facilities
Wolverine Worldwide has amended and extended its credit agreement with JP Morgan Chase, refinancing a $200 million term loan and taking its existing revolving credit up from $800 million to $1 billion. The maturity of both credit facilities has been stretched to end on Oct. 21, 2026. There was an ...
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News briefs
Clarus prices its stock offering at $27
Clarus Corporation, the company based in Salt Lake City that owns brands such as Black Diamond, Pieps, Sierra Bullets and Rhino-Rack, has priced a stock offering of 2,750,000 shares of common stock at $27 each. The expected gross proceeds of $74,250,000 would be used for general corporate purposes, including repayment ...
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News briefs
Champion’s new collection is all about Queen
Champion is releasing a limited-edition collection of unisex sportswear that displays pictures of and song titles by the rock band Queen. Yes, the obvious candidate, “We Are the Champions,” is included. Among the items are Reverse Weave sweatshirts and hoodies and Athletic Jersey T-shirts. The collection will be sold at ...
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Article
Puma’s brand momentum outpaces supply chain drags in Q3
Puma raised its outlook for full-year sales after reporting solid growth in sales and earnings in the third quarter ended Sept. 30 despite persistent supply chain headwinds and difficulties for Western brands in China. Sales in the three month period increased by a reported 20.0 percent to a quarterly record ...
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News briefs
Spain's Munich is on track for a record year
Munich, a leading Spanish shoe producer in the futsal category, is on track to break its record for annual sales, Diffusion Sport reports. Sales for the first half of this year, ended on Sept. 30, matched those of the equivalent period in its current record year of 2018. The owner ...
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Article
Shimano hikes guidance as bike segment soars by 30%
While reporting excellent figures for its third quarter ended Sept. 30, Shimano said it was expanding production capacity at its factories in Japan and overseas to respond to the growing global demand for its products, as Covid outbreaks have disrupted both manufacturing and logistics everywhere. Bike dealers’ inventories are still ...
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ArticleHeiQ unveils high-performance cellulose yarn derived from carbon-negative materials
HeiQ unveiled what it calls a potential game-changer for the textile industry on Oct. 26 in a digital presentation. HeiQ AeoniQ is a high-performance cellulose yarn derived from a wide range of natural, carbon-negative sources, including wood pulp and algae. The new fiber is currently advancing to pilot production prior ...
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News briefs
Dometic buys Igloo
Dometic, the Swedish producer of coolers, has taken over Igloo, a Texas-based manufacturer of passive coolers and drinkware for the outdoor market, from a private equity group, ACON Investments. The closing of the transaction was subject to certain regulatory approvals, which have now been granted. The acquisition was completed on ...
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News briefs
Li Ning accelerated in Q3
Excluding sales at Li Ning Young stores, Li Ning performed better than a year ago during the third quarter ended in September, scoring a sales increase in the high 20s on a same-store basis at retail, compared with the low single-digit improvement recorded a year earlier. The company’s own direct-to-consumer ...
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News briefsClarus will offer 2.75 million shares of common stock
Clarus Corporation, the company based in Salt Lake City, Utah that owns brands such as Black Diamond, Pieps, Sierra Bullets and Rhino-Rack, announced that it intends to offer 2,750,000 shares of common stock and use the net proceeds from the offering for general corporate purposes, including repayment of debt, capital ...
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Article
VF raises sales outlook although supply chain strains cap Q2 growth
VF Corp. lost more than 5 percent of its value on the stock market after it published its results for its second quarter ended Sept. 30 on Oct. 22, but it has regained some ground since. The management improved its guidance for this year’s revenues to $12.0 billion from $11.8 ...
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News briefs
Sweaty Betty collaborates again with rēspin
Sweaty Betty has embarked on a second collaboration with rēspin, the brand founded by the actress Halle Berry. The result is a limited edition of 24 articles of activewear designed by Lindsey Flores and called The rēspin Edit. The collection’s jackets, leggings and other items range in price from $14 ...
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Article
Allbirds’ IPO seeks a $2 bn valuation
Allbirds has priced its planned public offering at a range of between $12 and $14, which would give it a valuation of more than $2 billion, in spite of continued losses. It plans to offer a total of 19.2 million shares to raise up to $269 million. A Series E ...
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News briefs
China Dongxiang’s Kappa sales dip
In contrast with other Chinese sportswear companies, China Dongxiang reported a mid-to-high-teens decline at its Kappa and Kappa Kids stores for its second quarter ended Sept. 30, with a mid-to-low single-digit drop on a same store basis. For the first half of the company’s financial year, sales were off by ...
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News briefsPorsche gets involved in kitesurfing
In addition to its long-standing sponsorship activities in the sports of tennis and golf, Porsche will also support the further development of kitesurfing in the future. The first event sponsored by the automotive brand will be the Red Bull King of the Air in Cape Town in November 2021. In ...
