All Corporations articles – Page 82
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News briefsVibram pays a 2019 bonus as a positive signal
Like many other companies, Vibram has been hit hard by the current Covid-19 pandemic. Both the research center and production at the Vibram Tech Center in Guangzhou, China, were closed for almost 10 weeks and are now operating at about 80 percent capacity. The production site in Albizzate, near Milan, ...
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Article
Moody's is pessimistic about Amer's outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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Article
Puma will hold a virtual AGM, Adidas will pay rent
Puma announced on April 3 that it was suspending the payment of its dividend for this year. Unlike Adidas, which has decided to postpone its own AGM to a still undefined date, the Wild Cat has decided to stick to the previously scheduled date of May 7, but it will ...
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ArticleGaleria and Karstadt Sports get protection from creditors
Galeria Karstadt Kaufhof (or Galeria for short), the new holding company formed last year from the merger of the Galeria Kaufhof and Karstadt department stores, submitted an application for protection from its creditors which was approved by the local court of Essen on Wednesday. Stressing that the proceedings are not ...
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News briefs
Kathmandu launches an equity increase
Kathmandu is raising additional funds, for a total of NZ$ 207 million (€112.5m-$121.3m) through a series of placements with institutional and other shareholders, offering 1.2 shares for each share in their possession. Institutional shareholders have already taken up 96 percent of their entitlements under a first tranche that ended on ...
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Article
Wolverine wants to save $500 million
As reported in a separate article, Wolverine Worldwide was one of the companies operating in our industry that got the biggest hit on the stock exchange between Jan. 24 and March 31. On March 26, Wolverine released a detailed statement about the proactive and precautionary measures that it is taking ...
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ArticleHow the industry is reacting to the Coronavirus
(Updated on March 27, early morning time) We have been making use of our new SGI Europe and Outdoor Industry Compass websites to give you a constant flow of new information on what the industry is doing about the spreading Covid-19 pandemic in a dedicated “Corona Ticker.” We feel that ...
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Article
Vulcabras has restructured its production
Noted for its insistence on local manufacturing of athletic and women’s shoes, the owner of the Olympikus brand and licensee of Under Armour in Brazil completed the second wave of expansion of its two main factories in Brazil at the end of last year. While starting the second phase of ...
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News briefs
Boardriders divests Xcel
Boardriders has sold its brand of wetsuits, Xcel, on undisclosed terms to ZG Collective of Colorado. Boardriders had recently decided to grow its six primary brands – Quiksilver, Billabong, Roxy, DC Shoes, RVCA and Element – over the long term by investing in digital operations, category extensions, new go-to-market models, ...
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Dorel Sports strengthens its cycling operations in Europe
Dorel Sports, a division of Dorel Industries, is scaling up operations for its European Cycling Sports Group (CSG), centralizing them in the Netherlands. The management said the move will support overall growth and maintain the growing momentum of the Cannondale brand.
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ArticleThe North Face is exploring new territories
The North Face is reserving some interesting new surprises in its footwear range for the spring/summer 2021 season, to be presented at the OutDoor by Ispo show in Munich later this year. At the last Ispo show in Munich, the brand created a sensation with its highly technical “Advanced Mountain ...
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ArticleNo pressure for the sale of Mammut
As previously reported, the Conzzeta Group plans to divest its Outdoor division, which essentially consists of the Mammut Sports Group. Addressing financial analysts, the Swiss group’s management pointed out, however, that it is under no pressure to sell it at just any price because of the current economic uncertainty.
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News briefs
Credit agencies downgrade Boardriders
Standard & Poors and Moody’s have both downgraded the credit rating of Boardriders, the parent company of Quiksilver, Roxy, Billabong and other action sports brands. S&P has reversed its outlook to negative based on results and guidance provided by the company to the rating agency. It feels that its operating ...
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News briefs
Will Intersport or Sportmaster acquire Go Sport France?
Rallye, which controls the French Go Sport chain, has reached an agreement for the rescheduling of its debt of €2.9 billion, setting deadlines of four years with its banks and ten years with other creditors. It is not yet clear how the package will be financed. One of the options ...
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ArticleDaka Sport acquires Sportsworld
Daka Sport says it will become the largest independent, family-owned sporting goods retailer in the Dutch market in terms of sales and sales surface area following an agreement to take over the three remaining mega-stores of Sportsworld in the country and their 100-plus employees.
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ArticleGolfino and American Golf come under common ownership
The concentration of the market has also impacted the golf sector. Endless, the British private equity fund that took over the U.K.-based American Golf chain in 2018, has now acquired Golfino, the German brand of golf apparel, but not its mono-brand retail stores, and placed the operation under new management. ...
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ArticlePolartec starts to make some more noise
Polartec wants to raise its brand awareness with a bigger marketing budget under the ownership of Milliken & Company, the big American textile group that took over the fleece fabric producer a few months ago (Compass Vol. 12 N° 11+12 of June 28, 2019). It has already changed its logo, ...
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News briefs
Woolpower to expand production capacity
(OIC) Woolpower, the Swedish specialist in wool bodywear and accessories, says it intends to further expand the production capacity in its own factory because of its good long-term order situation and is investing in new employees and machines. Up to 30 knitting machine operators, converters and seamstresses are to be ...
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Clarus buys a case maker, after making further progress
(OIC) Clarus Corporation, the parent company of Black Diamond, Sierra Bullets and SKINourishment, continues to make acqusitions in adjacent sectors. It has announced the takeover of SKB Corporation, a leading U.S. producer of protective cases. The purchase price of around $96 million will consist of $85 million in cash and ...
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ArticleJoint management for SportScheck and Karstadt Sports
(updated March 12 2020) Thomas Wanke has been appointed to the newly created position of chief executive of both Karstadt Sports and SportScheck. The former CEO of SportScheck, Markus Rech, is no longer in charge. Furthermore, Stefan Weiss, chief sales officer at Karstadt Sports, will from now on serve as ...
