All Sporting Goods Intelligence articles in Volume 31, Issue 21+22 – Page 3
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News briefs
Synergies with GLP after Li & Fung’s privatization
Li & Fung completed its privatization yesterday, pulling out of the Hong Kong Stock Exchange after 28 years. Following redemption of the shares still trading publicly, Global Logistics Properties (GLP), a company based in Singapore that operates warehouses and owns real estate around the world, now owns 67.67 percent of ...
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News briefs
Decathlon to test turnkey rentals
In June, Decathlon will be testing a service for long-term, turnkey rentals at four of its stores in Paris and eight stores in and around the city of Lyon. In keeping with the spirit of these post-pandemic times, the first products offered will be bicycles. The service provides a guarantee ...
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News briefs
GoPro’s VP of design steps down
According to Bloomberg, GoPro’s vice president of design, Danny Coster, departed “earlier this year,” after a four-year stint. He was previously with Apple. As we have reported, GoPro had a turnover of $119 million in its first quarter of this year, down from $243 million in the year-ago period. Partly ...
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News briefs
Rising tennis star becomes highest-paid female athlete
In Forbes’ estimation, the tennis player Naomi Osaka has become the highest-paid female athlete of all time in annual earnings. The 22-year-old of Japanese and Haitian descent has pocketed $37.4 million since June of last year, breaking the record of $36 million held by Serena Williams, who had broken Maria ...
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News briefs
Brooks to organize virtual Global Running Day
After setting up an online training platform with training materials, product information and videos, on April 8, Brooks Sports will now organize a virtual global running day. Runners are invited to participate in a “Brooks Global Running Day 5k” between June 3 and 7. Every runner will complete a virtual ...
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Article
Karstadt Sports is integrated more closely with SportScheck
Galeria Karstadt Kaufhof (or Galeria), the new holding company formed in 2018 from the merger of the Galeria Kaufhof and Karstadt department stores, has decided that the management of its sporting goods business will move from Karstadt’s head office in Essen to the headquarter of SportScheck in Unterhaching near Munich. ...
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Article
Descente swings to a loss
Hampered by the coronavirus outbreak, Descente ended its financial year on March 31 with a net loss of 2,481 million yen (€20.9m-$22.8m), against a profit of ¥3,944 million for the previous year. Its revenues fell by 12.8 percent to ¥124,561 million (€1.0bn-$1.1bn) for the twelve months. The gross margin dipped ...
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Article
China’s Topsports grows despite Covid-19
Topsports International Holdings, the sports retailing arm of Belle International, published good results for the year ended on Feb. 29, although the growth slowed drastically at the end of the period due to the pandemic. The Chinese group, which raised $1.01 billion in an initial public offering on the Hong ...
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News briefs
Burton cancels 2021 snowboarding event
Burton Snowboards announced that the company had cancelled the 2021 edition of the Burton U.S. Open Snowboarding Championships, scheduled for March 1-6, 2021 at Vail Mountain Resort in Colorado, due to ongoing uncertainties around the Covid-19 pandemic. Burton’s chief executive, John Lacy, explained that it was a difficult decision as ...
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News briefs
Sportmaster managed to avoid staff cuts
In contrast with earlier reports, Russia’s biggest sporting goods retailer managed to avoid the threatened elimination of nearly 2,000 jobs from its payroll because of the retail lockdown introduced in Russia to slow down the spread of Covid-19. Roughly 1,800 Sportmaster employees found temporary jobs with some major Russian food ...
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News briefs
Temporary layoffs stop at XXL in Norway and Finland
A recovery in the demand for sporting goods products in Norway and Finland has led XXL to cancel all the temporary layoffs that it had announced on March 23 due to a considerable sales decline caused by the Covid-19 situation. Sales normalized in April and have picked up recently especially ...
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News briefs
Sports Direct blasts at delayed store reopenings
The Frasers Group, the British company formerly called Sports Direct International, announced on May 22 that it would continue to guarantee full payment of its employees’ wages in the U.K. through the end of this month, as it did in April, but it’s not sure whether it will continue to ...
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News briefs
Puma sponsors Iceland’s small football team
Puma is replacing on July 1 Italy’s Erreà after 20 years as technical sponsor of the Football Association of Iceland (KSI), providing the jerseys for its men’s, women’s and youth teams. Iceland will join other European national teams on Puma’s roster such as Italy, Austria, Serbia, Switzerland and the Czech ...
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News briefs
Schildkröt's owner opts for rail freight for goods made in China
MTS-Sport, a German producer and distributor of sporting goods, has decided to rely on transportation by train for goods manufactured in China. Over the next few weeks, the company will increase the amount of rail freight and stop using transportation by boat. Due to production delays caused by the ...
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News briefs
Macron kits out Rugby Canada and more
Macron, the Italian teamwear specialist, will dress up all the national teams of Rugby Canada, the national rugby federation born in 1974 from the merger of two former federations, under a new longterm sponsoring agreement. Canterbury of New Zealand was the previous sponsor. Macron is already sponsoring the national rugby ...
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News briefs
New management for Orvis
Simon Perkins has been appointed as the new president of Orvis, the leading American supplier and retailer of fly-fishing equipment, clothing and footwear. Starting immediately, he will take the place of Bill McLaughlin, who will work as an adviser during a transition period. Perkins is the son of Leigh Perkins, ...
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News briefs
Galeria Karstadt Kaufhof to centralize sports logistics
While threatening to close about one-third of its department stores, Galeria Karstadt Kaufhof (or Galeria), the new holding company formed in 2018 from the merger of the Galeria Kaufhof and Karstadt department stores, has decided to centralize the logistics for its sporting goods segment, using some extra capacities at its ...
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News briefs
Italy’s sporting goods industry calls for public support
Assosport, the Italian Association of the Sporting Goods Industry, is urging the Italian government to adopt effective measures to help the sector recover, after three months of inactivity. In its opinion, the measures should include, among others, an exceptional reduced VAT rate of 4 percent on sporting goods until July ...
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News briefs
Adidas launches reusable face mask
Adidas has launched its own washable face mask to help consumers battle the coronavirus pandemic. It is called Face Cover and is made from a soft and breathable material, using a minimum of 40 percent recycled content. Face Cover is not a medically graded mask nor a Personal Protective Equipment, ...
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News briefs
Technogym supports fitness clubs’ re-opening
Technogym’s Mywellness platform will be offering additional features to assist fitness clubs in their re-opening phase. During the lockdown, fitness facilities were able to connect with their members via the Mywellness platform, which allowed them to offer digital coaching and remote support services. Members of the Mywellness community will now ...
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