All Sporting Goods Intelligence articles in Volume 31, Issue 29+30 – Page 2
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News briefsPuma appoints Ben Hughes as general manager for UKIB
Source: Puma Ben Hughes Puma has appointed Ben Hughes as general manager for the United Kingdom, Ireland and the Benelux countries (UKIB), with immediate effect. He succeeds Paul Spencer, who moved to the position of regional sales director for Europe at the beginning of July, as previously ...
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News briefs
Tennis champion Maria Sharapova Invests in Therabody
Maria Sharapova is investing in a U.S. company, Therabody, formerly called Theragun, which is known for its Theragun percussive massage therapy devices. The former Russian tennis star is also going to be a member of the advisory board of the Los Angeles-based company. Nothing has been reported about the amount ...
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Article
Cycling boom benefits Dorel Sports
Like many other bike companies, Dorel Sports, the cycling division of Dorel Industries, has been growing during the pandemic. It registered revenues of $285.6 million for the second quarter, representing an 18.5 percent increase from the same quarter last year, driven by strong performances at the Cycling Sports Group (CSG), ...
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Article
Mizuno’s sales fall by 32%
Sales decreased significantly in all regions where Mizuno operates due to the impact of the pandemic. The Japanese group’s revenues for the first fiscal quarter ended on June 30 were off by 32.0 percent from the year-ago quarter to 28,700 million yen (€229.0m-$268.9m). The gross margin narrowed by 3.3 percentage ...
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News briefs
Superdry secures £70 million financing facility
Superdry has secured a £70 million (€77.5m-$91.2m) Asset-Backed Lending (ABL) facility that is supposed to help the company get through the coronavirus crisis. The facility is provided by its current lenders, HSBC and BNPP, with terms extended until January 2023, in place of January 2022. Superdry’s revenues were down by ...
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ArticleCanada Goose to cut production as Covid-19 hits Q1 sales
Canada Goose is cutting production and opening fewer stores as the coronavirus pandemic hit its sales, causing first-quarter net losses to almost double to 50.1 million Canadian dollars (€32.0m-$37.7m) from Can$ 29.4 million a year earlier. On adjusted basis, excluding restructuring charges, the net loss amounted to Can$ 38.4 million ...
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Article
Nautilus’ momentum accelerates
Swimming against the tide, Nautilus recorded one of its best results in the second quarter, thanks to strong demand for home fitness equipment. Sales surged by 94 percent to $114.2 million. Cardio and strength product proved popular from the start of the coronavirus-related lockdowns, particularly connected-fitness bikes, the company’s Max ...
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ArticleZalando benefits from the lockdown as Q2 sales, profits surge
Zalando‘s net profit rose to €122.6 million in the second quarter from €45.5 million a year earlier as its client base expanded in terms of final customers as well as participants in its marketplace. The German online fashion retailer now serves 34.1 million active customers across Europe, up by 20.4 ...
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News briefs
Anta is now listed in the Fortune China 500 rankings
Anta Sports has announced that the company has been listed in the 2020 Fortune China 500 rankings. The sportswear firm rose 62 places from the previous year to the 289th spot. It is the only Chinese sportswear brand on the list. In 2019, Anta Sports’ revenues jumped by 40.8 percent ...
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News briefsCurrency headwinds weigh on Helly Hansen’s results
Helly Hansen’s revenues for the second quarter fell by 21.0 percent to 68.9 million Canadian dollars (€44.1m-$52.1m), weighed down by store closures and foreign-currency headwinds. In constant currencies, they were down by 12.6 percent. Most wholesale customers were closed across the globe in the quarter, as were distribution centers and ...
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ArticleGoPro’s losses widen
The U.S. action camera brand’s sales tumbled by 54.1 percent in the second quarter to $134.2 million, while the gross margin contracted by 4.6 percentage points to 30.3 percent. Adjusted Ebitda was negative $22 million, compared to $14 million in the same period a year ago. The company’s net loss ...
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Article
Moody’s and S&P forecast 15% lower sales at Amer in Q3
In a new report, the rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda showed a loss of €26 million for the first half, against ...
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News briefs
Internetstores seeks to join the circular economy
Internetstores, the Germany bike and outdoor retailer, has hired the consulting firm EPEA, headquartered in the same city of Stuttgart, to overhaul environmental policy for its full value chain. EPEA began a three-month review of operations in June, after which it will draft a comprehensive proposal – with its “Cradle ...
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ArticleCallaway’s profit plunges due to Jack Wolfskin writedown
Callaway Golf Co. ended the second quarter in the red due to a $174 million impairment charge related to the Jack Wolfskin goodwill and trade name. It posted a net loss of $167. 7 million for the period, versus net income of $28.9 million for the year-ago quarter. The management ...
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ArticleAmazon is entering the Nordics
Confirming plans to set up its seventh European website in Sweden in time for Christmas shopping, Amazon has posted a job advertisement for a manager who would also be responsible for Norway, Denmark and Finland. Until now, Swedish consumers and companies have only had access to the other European Amazon ...
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News briefs
Nike joins Time to Vote
Nike is celebrating the 55th anniversary of the Voting Rights Act by becoming a member of an association called Time to Vote. Passed in 1965 and since amended many times, the Voting Rights Act serves essentially to enforce the Fifteenth Amendment to the U.S. Constitution, which was ratified in 1870 ...
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News briefs
Ecco wins long-standing tax dispute
A long-standing dispute between the Danish footwear company Ecco and the Danish Tax Agency has finally been settled. The transfer pricing case was related to the company’s taxable income for 2005. The Danish Western High Court has ruled that Ecco did not break the rules for so-called transfer pricing. In ...
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News briefs
Macron signs six-season kit deal with Sampdoria
Macron will replace Joma as the new kit supplier of Sampdoria, the Italian football club that competes in Serie A. The new six-year contract will debut in the 2020/21 season. The Italian sportswear company, based near Bologna, will supply all the technical products for the team and staff as well ...
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ArticleITK and Bosch Research set up competence center for smart textiles
ITK Engineering, a German technology company operating internationally with customers mainly in the automotive and aerospace industries and a 100-percent subsidiary of the Robert Bosch GmbH since 2017, joined forces with Bosch Research to set up the Smart Textile Competence Center in the German town of in Rülzheim to investigate ...
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News briefsJohnson Outdoors’ Diving segment got the hardest hit
Strong Fishing, Watercraft Recreation and Camping sales after the corona-related lockdowns in May and June were not enough to counter the effect of store closures in April. However, the management said that demand has now picked up and the challenge is keeping pace with it, with a focus on ending ...
