Latest Headlines – Page 104
-
Article
Reebok is seen reaching Ebitda of €200m by 2025
The Adidas Group has asked prospective buyers for the Reebok business to submit a first round of bids next week, according to Reuters, based on a projection that its sales will grow at an annual average rate of 10 percent in the next years, generating Ebitda of at least €200 ...
-
ArticleTwo new members on Puma’s executive board
Puma has promoted two executives to its board of management, effective June 1, to oversee the company’s finances and sales. Taking the place of Michael Lämmermann, Hubert Hinterseher has been promoted to the role of chief financial officer. Lämmermann, 59, has decided to retire after 28 years with the company ...
-
ArticleMathias Boenke will lead New Balance EMEA
Returning to New Balance after a dynamic journey on the other side of the fence at Intersport, Mathias Boenke has been appointed as senior vice president of the American sports brand for the EMEA region, starting in June. Based at New Balance EMEA’s office in Amsterdam, he will take the ...
-
ArticleUnder Armour raises FY guidance after a 35% sales hike in Q1
Under Armour raised its full-year guidance for sales and profits after reporting better-than-expected results in the first quarter, as its business continues to rebound from Covid-19 shutdowns and a restructuring plan launched last year is bearing fruits. The brand said it now anticipates that its revenues will rise in 2020 ...
-
Article
Huski Wear becomes the apparel partner of the Swedish alpine ski team
Huski Wear, a brand-new Swedish brand of outerwear, is going to replace Helly Hansen as the clothing partner of Team Sweden Alpine, the Swedish alpine ski team, starting on July 1. As part of the partnership, Huski Wear has pledged to support the development of skiing among the Swedish youth. ...
-
ArticleA second leg for Tennis-Point in the U.S.
Building up on its recent acquisition of Midwest Sports, which was completed last month, Signa Sports United (SSU) is consolidating its penetration of the U.S. market with a binding agreement to acquire Tennis Express, one of the country’s leading online tennis retailers. The two operations will be folded by SSU ...
-
ArticleTimberland to set up regenerative rubber supply chain for footwear
Timberland, along with its parent company VF Corp. and its sister brands Vans and The North Face, is partnering with Terra Genesis International in Thailand to build what they claim will be the footwear industry’s first regenerative rubber supply system. Timberland plans to pilot its first regenerative rubber footwear in ...
-
Article
On Running is again reported to be eyeing an IPO
On, the Zurich-based sports brand backed by Roger Federer, publicly denied a report in a Swiss newspaper last July that it was planning to go public in 2021. Citing a source close to the matter, Reuters reported again on April 30 that On was making preparations for an initial public ...
-
ArticleColumbia raises guidance after a good Q1
Columbia Sportswear performed better than expected in the first quarter, despite port congestion problems in North America. Net income reached $55.9 million, jumping from $213,000 in the year-ago quarter, when the pandemic first hit the company. Revenues gained 10 percent to $625.6 million, including a 20 percent rise in DTC ...
-
Article
New Recycled Polyester Challenge aims to treble volumes
After the launch in 2017 of a “Sustainable Cotton Challenge,” Textile Exchange is now launching the “Recycled Polyester Challenge,” working in cooperation with the Fashion Industry Charter for Climate Action. The 85 brands and suppliers involved aim to increase the proportion of recycled polyester fibers used in their products from ...
-
ArticleHow sports companies are dealing with Brexit
The European Parliament voted on April 27 to approve the agreement signed by the British government and the EU on Christmas Eve to regulate trade relations after the U.K.’s official exit from the European Single Market on Jan. 1. It’s been hard for the companies in our sector, especially the ...
-
Article
Fitness and Outdoor raise Garmin’s results
The current popularity of cycling and home fitness has proven to be an engine of growth for Garmin, which posted another strong quarter. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported a 25 percent sales gain to $1,072.3 million for the three months to ...
-
ArticleStrong start of the year for Puma
After bouncing back in the second half of 2020, Puma accelerated further in the first quarter of 2021, with revenues surging by 25.8 percent in constant currencies to €1,548.8 million, generating an increase in the gross margin of 0.9 percentage points to 48.5 percent and a big jump in net ...
-
Article
Crocs ups guidance after rising by over 60% in Q1
Raising its guidance for the full financial year after a very strong first quarter, Crocs predicted that its revenues will grow by between 40 and 50 percent in 2021 from last year’s level of $1,386 million, up from its previous forecast of 20-25 percent growth. Posting the third consecutive quarterly ...
-
Article
New Wave swings to Q1 profit on cost controls
Sweden’s New Wave Group swung to a record first-quarter operating profit, driven by lower costs, despite a sales decline during the period. The operating profit for the three months to March 31 came in at 100 million Swedish kronor (€9.9m-$12m) compared with a loss of SEK 24.1m (€2.4m-$2.8m) a year ...
-
ArticleShimano’s revenues rise by 64.4%
Both the bicycle components and fishing tackle divisions of Shimano benefited from the Covid-19 crisis in the first quarter of 2021. Overall, Shimano’s quarterly sales – as compared to the first three months of last year – grew 64.4 percent to 126.43 billion yen (€961.6m-$1.2bn). The gross margin rose by ...
-
Article
Sportgreen – a new sustainable sporting goods platform
Sportgreen.de is an interesting new German web store for the sale of sports clothing and footwear products that are at least 50 percent sustainably produced or made from recycled materials. Starting with a range of items in the fitness and running segments, it officially went live on Earth Day last ...
-
ArticleNew Mavic Group presents a clear roadmap for the future
After last year’s insolvency of Mavic, the French bicycle component manufacturer previously owned by Amer Sports; its acquisition by the Bourrelier Group, was followed by a period of silence, at least on the surface. Order books were maintained at a high level. Now, with the unveiling of its latest product ...
-
ArticleStella bounces back in Q1
In a business update, Stella International said its revenues for the first quarter increased by 15.3 percent to $303.4 million. This was mainly due to a favorable comparison base with last year’s first quarter, when the Chinese company’s revenues were affected by store and factory closures, as well as lower ...
-
ArticleSwiss chocolate family invests in Mammut
The Swiss Conzzeta Group had first announced on Dec. 9, 2019, that it would focus in the future on the sheet metal working segment, called Bystronic, and it recently confirmed the reorganization by renaming itself as Bystronic. After the sale of its Schmid Rhyner ioperations in early 2020 and the ...
