The New Wave Group's sports and leisure unit saw its sales decline by 13 percent, excluding acquisitions, during the third quarter ended Sept. 30, but the group's management indicated that it is “developing well” in spite of the poor economic climate. The unit comprises Craft and Cutter&Buck, along with smaller brands and licensing deals for Speedo and Umbro. Thanks to two acquisitions, the total revenues of the segment still climbed by 4 percent to 560 million Swedish crowns (€65.2m-$83m) but its Ebitda slumped by 18 percent to SEK 64.2 million (€7.5m-$9.5m). The entire group swung to a loss for the quarter due to restructuring costs at a glassware unit.

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