All Sporting Goods Intelligence articles in Volume 31, Issue 13+14
View all stories from this issue.
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PDF NewsletterSGI Europe Newsletter: Vol 31 - 13+14
Covid-19 sinks industry stocks | Karstadt Sports’s parent in trouble | German government aid insufficient | More on the corona crisis | Exploring the post-corona period | OR and other shows are rescheduled | Online and offline retail are disrupted | Interesting action online | Moody’s pessimistic on Amer | UA and Wolverine react
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News briefs
Fesi guides members through the Covid-19 crisis
The Federation of the European Sporting Goods Industry, Fesi, has created a Covid-19 Task Force to collect all kinds of information on what the European Commission and member governments of the European Union are doing in terms of regulations and financial help to mitigate the spread of the coronavirus and ...
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ArticleAnalysis: What is happening with Covid-19 on the retail front?
The retail lockdown in Germany is estimated to have caused a drop of 60 percent at brick-and-mortar stores in the fashion sector in general in March, as compared to the same month a year ago, although they were open in the first few days of the month. The trend will ...
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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
Egyptian sportswear industry
The Egyptian sportswear manufacturing industry will be supported by a project, led by the International Trade Centre (ITC), that is supposed to create jobs and boost exports. The project is funded by the State Secretariat for Economic Affairs (Seco) of the Swiss Confederation and the Swedish International Development Cooperation Agency ...
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News briefs
BCI forced labor
The Better Cotton Initiative (BCI) has established a task force on forced labor and decent work. The multi-stakeholder expert group will review elements of BCI’s Better Cotton Standard System related to forced labor and decent work, and will make recommendations to improve the effectiveness of the system. These will involve ...
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News briefs
O2Feel funding
O2Feel, the French e-bike brand, has raised €9 million thanks to investments by Compagnie d’Anjou and some partner banks. Based in Wambrechies, in the North of France, O2Feel posted revenues of €15 million in 2019.
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News briefs
Hanesbrands downgraded by Moody’s
Hansebrands, the parent company of Champion, sees its corporate family rating downgraded by Moody’s from ”stable” to “negative.” The rating agency cites the closure of retail stores and the possibility of a protracted reduction in apparel consumption because of the coronavirus outbreak. The company said that it is guaranteeing the ...
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News briefs
Joe Nimble opens shop in Copenhagen
One of our reporters was at the opening last month of the first Joe Nimble running store in Copenhagen. Since the shop is free-standing, not in a mall, it was open at the time. The German brand of functional footwear has launched a new running shoe, called Toes Addict ...
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Article
Nautilus swims against the tide
In a difficult context due to the coronavirus pandemic, while many other sports equipment companies faced a grueling first quarter, Nautilus released strong preliminary figures. It posted sales for the first three months of the year that gained 11 percent to around $94 million. It was the first time that ...
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Article
Zalando issues a profit warning, offers to help stores
Zalando has warned that its first-quarter results will not meet market expectations because of the impact of Covid-19. Meanwhile, the company is offering to waive commissions for participation in its Connected Retail program to German and Dutch retailers until May 31. The company will also postpone its annual general meeting, ...
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News briefs
Intersport Germany appoints new chief financial officer
Intersport Germany appointed Thomas Storck to the position of chief financial officer on April 1. Storck immediately succeeds Hannes Rumer, who had asked for early termination of his contract as of March 31. Before joining Intersport Germany, Storck worked as business analyst for sales and purchasing at Real, a subsidiary ...
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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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News briefs
China limits basketball event
China has resumed the restrictions on team sports just as the Chinese Basketball Association (CBA) was expected to return play in early April. The CBA season was originally shut down in January in connection with the Covid-19 pandemic.
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News briefs
Acushnet withdraws guidance
Acushnet said it is withdrawing its guidance for this year’s results, while drawing down $200 million under its revolving credit facility to cope with the impact of the coronavirus epidemic in Europe and North America. The company said that its sales in South Korea and Japan have started to recover ...
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Article
German suppliers fear that government aid is insufficient
On April 6, the German government announced a package of additional financial aid for small and medium-sized companies with 11 to 250 employees. The government will assume 100 percent of the credit risk on loans of up to €800,000 without an assessment of the risks, depending on the size of ...
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Article
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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Article
Spaniards project a recovery in March 2021
According to a recent survey of 1,187 Spanish industry professionals conducted by CMDsport, the general sense in the national sporting goods industry is that the market will return to its pre-crisis level sometime between September 2020 and March 2021. But uncertainty reigns. The projections listed in the questionnaire ran from ...
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News briefs
Brooks offers support for retailers during crisis
Brooks Sports is offering to its retailer partners the option to send ordered products directly to their customers during the current coronavirus crisis, which has led to the closing of many stores worldwide. Retailers receive 100 percent of the price paid by the customers, and Brooks takes care of the ...
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News briefs
Rapala approves share buyback
The annual meeting of Rapala VMC approved on March 26 a proposal that no dividend will be distributed for 2019. It also authorized the board to repurchase up to two million own shares, corresponding to less than 10 percent of its equity until June 30, 2021.
