All Sporting Goods Intelligence articles in Volume 31, Issue 31+32 – Page 4
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News briefs
Cycling boom benefits Giant
The Giant Group posted revenues of $33 billion Taiwan dollars (€1.0bn-$1.1bn) for the first six months of this year, representing a 7.5 percent increase as compared to the first half of 2019. Sales were boosted by increased global demand for bicycles following the coronavirus lockdown period, as many consumers have ...
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ArticleGlobe faces pressure from strong U.S. dollar
U.S. tariffs introduced early in the year and the strengthening U.S. dollar weighed on the results of the multi-brand skate company, Globe International, during its latest fiscal year. Net profit after tax for the twelve months ended June 30 declined by 26 percent to 6.1 million Australian dollars (€3.7m-$4.4m). This ...
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ArticleFrasers Group survives an annus horribilis
The management of Frasers Group, formerly known as Sports Direct International, said the past year will likely be remembered as the most challenging year in the history of the company. It cited political uncertainty around Brexit, the Covid-19 crisis and a Belgian tax investigation for an amount of €674 million. ...
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Article361 Degrees focuses on branding and e-commerce
361 Degrees International saw its revenues decline by 17.0 percent in the first half of this year to 2,686 million yuan renminbi (€327.3m-$388.4m). The Chinese sporting goods company’s attributable profit went down by 17.8 percent to RMB 302.0 million (€36.8m-$43.6m), hit by a $34.9 million impairment charge for losses on ...
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ArticleNew strategies make Li Ning resilient
Li Ning fared better than most of its Chinese peers during the first half. While its net income declined by 14 percent from the year-ago period to 683.3 million yuan renminbi (€82.8m-$98.7m) in reported terms, its adjusted net income progressed by 22 percent when excluding a RMB 269.9 million (€32.7m-$39.0m) ...
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News briefs
Moody’s downgrades Callaway
While Standard & Poor’s has confirmed Callaway Golf Company’s credit rating because of better-than-expected results, Moody’s has lowered its corporate family rating and that of its senior secured loan, to B1-PD, while giving the company a higher probability of default because of the coronavirus pandemic. It feels that Callaway’s operating ...
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News briefs
Wolverine adopts First Insight's consumer analytics
Wolverine Worldwide has announced a strategic partnership with First Insight under which it will deploy its Voice of the Customer predictive analytics solution across its portfolio of 12 brands, including Merrell, Sperry, Saucony, Hush Puppies and Keds. The deal follows a successful test conducted by Hush Puppies in different regions ...
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News briefs
Sequential Brands' losses decline
Sequential Brands, which licenses brands such as And1 and Avia, saw its net loss decline to $2.78 million in the second quarter from $4.59 million in the year-ago period, although its revenues from continuing operations contracted by 14.4 percent to $22.6 million. Adjusted Ebitda improved to $15.1 million from $13.3 ...
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News briefs
Scientists in Scotland develop new sustainable nylon production method
Researchers from the University of Edinburgh have developed a sustainable way of manufacturing adipic acid, a key component of nylon. The scientists modified the genetic code of the common bacteria E. coli in the laboratory. The modified cells were grown in liquid solutions containing guaiacol, a naturally occurring chemical and ...
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ArticleA £1 billion valuation for Gymshark
A New York-based private equity investment firm, General Atlantic, said it is acquiring a 21 percent stake in Gymshark, a fast-growing U.K.-based fitness apparel brand born eight years ago, in a deal that values it at more than £1 billion (€1.11bn-$1.32bn). While the fitness apparel market is very buoyant right ...
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News briefs
Fanatics’ valuation reportedly rose to $6.2 billion after new funding round
Fanatics, the fast-growing, vertically integrated licensed sportswear company, has reportedly reached a marlket value to $6.2 billion while raising $350 million in a Series E funding round arranged by Goldman Sachs. The round, which was oversubscribed, is expected to be the last private funding for Fanatics before the company files ...
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ArticleIntersport and Stadium close stores in Sweden
The Swedish Intersport banner has decided to close at least ten of its 130 stores, fewer than originally expected, as some landlords have accepted more flexible rental terms. Other stores may have to be shut down, depending on ongoing negotiations with their landlords. Intersport Sverige filed on April 14 for ...
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News briefs
Dunlop sees lower profits and ends with a loss
Sumitomo Rubber Industries reported an operating loss of 2,505 million yen (€19.9m-$23.5m) for its sports segment in the second quarter, compares with a profit of ¥1,945 million for the second quarter of 2019. The revenues of its sports segment, which includes the global operations of Dunlop, Srixon and XXIO, dropped ...
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AnalysisMarket Analysis: The global athletic shoe market
The global market for athletic footwear enjoyed solid growth of 6.7 percent at the wholesale level last year, reaching a level of $70.9 billion, according to an annual analysis by Sporting Goods Intelligence of the major sports brands’ performance in this segment. It would have risen a little more without ...
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News briefs
Yonex sees gains in Europe and North America
Yonex’ revenues went down by 44 percent to 8,200 million yen (€65.0m-$76.3m) in the first fiscal quarter ended on June 30. In Japan, which represented 40 percent of turnover, sales declined by 65 percent from the year ago quarter. However, In North America, they rose by 15 percent to represent ...
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ArticleFrasers is reportedly bidding for DW Sports
Mike Ashley’s Frasers Group, formerly called Sports Direct International, has offered to pay more than £30 million (€31.3m-$39.1m) for DW Sports, according to the Sunday Times, or 33 percent more than the reported asking price for the chain. It’s not clear whether Ashley is bidding only for DW Sports’ 50 ...
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ArticleYue Yuen posts a $136 million loss
Yue Yen Industrial Holdings was hard hit by China’s measures to contain the spread of coronavirus. The world’s largest shoe manufacturer posted a net loss of $136.7 million for the first half of 2020, against net income of $165.9 million for the year-ago period. The company managed to reduce operating ...
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News briefs
Macron enters the top flight of Slovenian football
Macron is the new technical sponsor of F.C. Koper. The four-year agreement between the Italian sportswear brand and the Slovenian club will start from the 2020/21 season. F.C. Koper, based in the city of Koper, has won in its history all three domestic trophies: a title of Slovenian champion, three ...
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News briefs
Nike launches experimental shoe designed for “doing nothing”
Nike is introducing the Offline, a new shoe that has been conceived for moments of relaxation, when people takes time to unplug and disconnect. The Nike Offline features an “anti-sneaker silhouette,” as the brand has described it in its press release. The mule includes two interchangeable sensory drop-in midsoles. Sensation ...
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News briefs
Iconix’ sales drop by 35%
The Iconix Brands Group, which owns several brands including Umbro and Danskin, faced an impairment charge of $5.2 million for the second quarter due to store closures and other restrictions related to the coronavirus outbreak. The charge led the company to post a net loss of $17.4million, versus net income ...
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