Retail & Distribution – Page 3
-
ArticleZumiez braces for FY loss despite higher Blue Tomato sales
Zumiez is now forecasting a full-year net loss and annual sales to fall more than 8 percent after reporting a net loss of $2.23 million against a profit of $6.9 million in Q3 ended Oct. 28. The operating loss was $157,000 against $10.4 million as gross margin contracted 70 basis ...
-
ArticleWeSports invests in Tretorn and Thevea Group
Stockholm-based group WeSports has acquired a stake in Thevea Brands Group and Tretorn and established a long-term partnership with the founders and management team. According to WeSports, there is an option to acquire 100 percent of the company if certain conditions are met. Tretorn is one of the most renowned ...
-
ArticleSnowboard brand Forum returns to Europe
Austrian board sports and lifestyle specialist Blue Tomato, part of the portfolio of US retailer Zumiez since 2012, is exclusively bringing the snowboards and snow and streetwear from US company Forum back to Europe. The brand went off the market in 2014 and relaunched exclusively online in 2022 in the ...
-
ArticleHow Sport 2000’s "One Sport" strategy is evolving
Ahead of ISPO Munich 2023, Sport 2000 International has released an update of its One Sport 2000 strategy and progress. In a statement, Margit Gosau, CEO of Sport 2000 International and Sport 2000 GmbH, discusses a three-pronged approach which includes expanding specialization and progressively implementing this in brick-and-mortar retail formats, ...
-
ArticleDigitalization is key for 85% of European SMEs, but gaps in tech adoption
Digitalization is a powerful growth lever in today’s economy, but companies are not always up to speed with technological developments, especially small and medium-sized enterprises (SMEs). According to new research from Sage, 85 percent of European SMEs consider digital tech as a key element to their growth ...
-
ArticleAlibaba’s founder mulls cutting stake
Jack Ma, founder of the Chinese e-commerce giant Alibaba, is weighing whether to sell 10 million shares in the company through his family’s trust and re-invest the proceeds in agriculture and public welfare projects. Ma disclosed his potential transaction in a regulatory filing on the same day that Alibaba reported ...
-
ArticleLatest StockX report gives an insight into what sneakerheads want
Sneaker resale platform StockX has unveiled its latest annual Big Facts: 2023 Trends report, giving an insight into what’s popular in the sneaker market this year. Retro Adidas styles and character-inspired Crocs are among the best-performing trends.
-
ArticleWorld’s top pádel retailer optimistic despite glut
360° Padel Group has reduced its current year revenue forecast to €62 million, according to CMDsport, as the industry-wide inventory glut has sparked a margin-narrowing price war. However, by the end of 2023, it hopes to be operating more than 500 physical stores between its Pádel Nuestro and Pádel Nuestro ...
-
ArticleLower costs, inventory benefit Grupo SBF in Q3
Grupo SBF, which operates Brazil’s top sporting goods chain in Centauro, received a lift from lower expenses, growth within its digital channel, and lower inventory levels in Q3 ended Sep. 30. The group reported a 216 percent increase in year-over-year operating income to 168.6 million Brazilian reais (€32.1m) as net ...
-
ArticleSweet Protection and Kari Traa are realigning in Central Europe
The Norwegian sportswear and equipment company Active Brands is realigning its activities in Central Europe. The focus is on the two main brands Sweet Protection and Kari Traa in the DACH (Germany, Austria and Switzerland) market. The aim of Active Brands’ reorganization is to offer existing and new retail partners ...
-
ArticleFootway Group presents reorganization plan
After the Swedish Footway Group AB filed for voluntary company reorganization in July, the company submitted a preliminary reorganization plan to its creditors at the beginning of November. The plan includes a proposal for debt relief of approximately 70 million Swedish kroner (€6.02m) and a new share issue of the ...
-
ArticleIntersport Germany sells Sport Voswinkel to Italian retailer
Intersport Deutschland eG (Intersport Germany) announced on Nov. 8 that it has signed an agreement on the sale of Sport Voswinkel GmbH & Co. KG to Cisalfa Sport S.p.A. by the end of 2023. “We are very pleased that we can place Sport Voswinkel GmbH & Co. KG into the ...
-
ArticleSSU: Business as usual for Tennis-Point and Internetstores – and what else?
In a joint statement, the two insolvency administrators appointed, Dr. Christian Gerloff from the Munich law firm Gerloff-Liebler Rechtsanwälte and Stefan Meyer from Ulm-based Pluta Rechtsanwalts GmbH, point out that the operational business of the two insolvent Signa Sports United (SSU) spin-offs Tennis-Point GmbH and Internetstores GmbH (alias Internetstores Group, ...
-
ArticleFormer Decathlon stores to re-open doors in Russia
Former Decathlon stores are scheduled to be re-launched in Russia from December 2023 under the brand name Desport, Russian state news outlet Tass reported, citing sources close to ARM, the new owner of the retail chain. The product range will be formed gradually and include ARM brands, as well as ...
-
ArticleCrocs taking steps to reset Heydude business
There will be some immediate pain, largely negative wholesale growth in Q4, as Crocs takes additional steps to shore up the fortunes of its Heydude business. Those efforts are focused on distribution clean-up, greater segmentation by distribution channel coupled with stronger control of digital pricing, and the ...
-
ArticleZalando turns nine-month net profit
Berlin-based e-tailer Zalando reports a net profit of €10 million against a €82.7 million loss in the year-ago period. The group described the first nine months of its financial year as “characterized by the normalization of e-commerce penetration, ongoing pressure on consumers’ disposable income, and a delayed fall/winter season start ...
-
ArticleXXL misses target in Q3: “Neither proud nor satisfied”
Source: XXL Freddy Sobin CEO Freddy Sobin, in office since May 2023, began the presentation of XXL ASA’s Q3 financial report by saying, “We are neither proud nor satisfied with the results.” The retail company’s sales fell 10.2 percent in the third quarter. At the same time, ...
-
ArticleSuper Retail Group updates year-to-date sales
Super Retail Group, the Australian parent of Rebel Sport, BCF and MacPac, reported a group sales increase of 4 percent for the first 16 weeks of FY24 that began Aug. 1, and a year-over-year comparable sales increase of 2 percent against 20 percent growth in the same FY23 period. Online ...
-
ArticleE-commerce dominates sports apparel distribution channels, new report suggests
According to a new report by Research and Markets, the global sports apparel market is projected to reach a value of US$208.47 billion by 2023, driven by a compound annual growth rate (CAGR) of 6.10 percent during the 2022-2026 forecast period. The increasing penetration of e-commerce, the fastest-growing segment during ...
-
ArticleFirst SSU subsidiary files for insolvency
Rumors are swirling: While Signa Sports United (SSU) offshoot Internetstores GmbH (Addnature, Bikester, Brügelmann, Campz, Fahrrad.de, Probikeshop) is said to have informed its suppliers of impending insolvency in self-administration and British affiliate WiggleCRC is believed to have done the same in its home country, German Tennis-Point GmbH has already filed ...
