Latest Headlines – Page 109
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Garmont eyes acquisitions after change of control
Garmont International, the Italian brand of outdoor and technical footwear, is open for acquisitions in the apparel sector and other opportunities following the entry of a new majority shareholder. Italian Strategy Private Equity (ISPE), managed by Riello lnvestimenti Partners, has acquired a 65 percent stake in the company’s share capital. ...
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Tennis-Point moves into the U.S.
Signa Sports United has announced the acquisition of a majority stake in an American online tennis retailer, Midwest Sports, subject to customary conditions for deal closing. The transaction strengthens the international reach and market position of Tennis-Point, one of the numerous web stores of Signa Sports United. Based like its ...
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ArticleJD expands in Central and Eastern Europe
Pursuing its international expansion, JD Sports Fashion has signed an agreement to acquire a 60 percent majority interest in the Marketing Investment Group (MIG), a wholesaler and multi-channel retailer specializing in the sporting goods sector with a network of 410 retail stores in Poland and eight other neighboring countries. The ...
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ArticleCycling boom boosts Dorel Sports
Dorel Sports, whose Dorel Industries sports segment includes bike brands such as Cannondale, Schwinn, GT, Mongoose, Caloi and IronHorse, saw its revenues increase by 13.8 percent year-on-year to $265.3 million in the fourth quarter, or by 15.9 percent in constant currencies. This marks the seventh consecutive quarter of revenue growth ...
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Good quarter for Zumiez, despite difficulties for Blue Tomato
Zumiez, the American action sports retailer that owns Blue Tomato in Europe and Fast Times in Australia, improved its net profits by 12.9 percent to $42.8 million in the fourth fiscal quarter ended Jan. 30, 2021, on revenues that rose by 0.8 percent to $331.5 million. E-commerce surged by 31.8 ...
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ArticleSlinger Bag nearing 40-country distribution
Slinger Bag, which launched its signature product as recently as the spring of last year, has introduced its combination ball launcher and tennis bag in about 37 countries so far, and it is now planning to introduce similar launchers for pickleball and pádel at some point this year and developing ...
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ArticleInline skating offsets Covid impact on Tecnica’s results
The Tecnica Group reported a drop of 9.8 percent in its revenues to €382 million in 2020, and said that it managed nonetheless to further improve its Ebitda by 10.7 percent to €55 million. The parent company of brands such as Nordica, Blizzard, Tecnica, Lowa, Boot and Rollerblade said its ...
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Decathlon expands in Austria and Germany, will enter Andorra
Decathlon, which is already by far the biggest sports retailer in France and Spain, is reportedly planning to open its first store in Andorra, the small independent enclave between the two countries, after strenuous efforts made since the local legislation relaxed the rules for foreign investment in 2012. It was ...
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FESI calls for harmonized sustainable corporate governance rules
The Federation of the European Sporting Goods Industry (FESI) has issued a statement in response to a non-binding report on corporate due diligence that the European Parliament has just approved. This report, presented by a Dutch member of the Parliament, Lara Wolter, is linked to the future EU initiative on ...
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Vulcabras ends 2020 on a high note
Vulcabras posted double-digit growth in the last three months of 2020, despite the impact of the pandemic on the shoe market in Brazil. Revenues rose by 22.8 percent from the year-ago quarter to 459.1 million Brazilian reais (€66.7m-$79.4m) and net income jumped by 21.1 percent to R$54.6 million (€7.9m-$9.4m). After ...
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Go Sport is being sold to a financial investor
Rallye has announced that it has entered into exclusive negotiations with Financière Immobilière Bordelaise (FIB) for the sale of the entire share capital of the third-largest sporting goods retailer in France, Groupe Go Sport, for the symbolic price of one euro, without assumption of debt and without any representations or ...
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ArticleAdidas unveils its business plan through 2025, expanding DTC
After releasing its results for 2020, Adidas introduced a new strategy at a virtual Investor & Media Day, dubbed ”Own the Game,” which it says aims to raise sales, market shares and profits by strengthening the “credibility” of the Adidas brand, by boosting the direct-to-consumer channel and creating a unique ...
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ArticleAdidas ends 2020 with a small plus and a positive outlook
The Adidas Group ended the year with a small sales increase of one percent in local currencies in the fourth quarter, despite a challenging environment, especially in Europe, the only market that suffered a sales decline. As currency headwinds persisted, total sales were down by 5 percent to €5,548 million ...
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ArticleBlack Diamond’s parent sees strong growth
Clarus Corp., the parent company of Black Diamond Equipment and Pieps, announced that its revenues surged by 24 percent to $75.9 million in the fourth quarter, or by 23 percent in constant currencies. This was mostly due to the company’s ammunition division, particularly with gains in the Sierra Bullets business, ...
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Tokyo 2020 highlights gender-balanced Olympics
On March 8, International Women’s Day, the International Olympic Committee (IOC), the International Paralympic Committee (IPC), the Tokyo 2020 Organising Committee, the Government of Japan and the Tokyo Metropolitan Government (TMG) reiterated their commitment to make the Olympic and Paralympic Games this summer “a landmark in gender equality on and ...
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BasicNet makes a small profit despite a 15% drop in revenues
In contrast with some major U.S.-based brand licensors in the sporting goods sector, BasicNet managed to post a small net profit for the 2010 financial year, in spite of the impact from the Covid-19 pandemic, leading the board of directors to propose the distribution of a small annual dividend of ...
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Germany wants to protect human rights with Supply Chain Act
On March 3, the German federal government approved a bill that aims to force relatively large German companies to respect human rights in their global supply chain. Parliament is expected to pass the draft legislation, commonly referred to as the Supply Chain Act, by the middle of the year. The ...
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Accell posts strong results, led by Europe
The post-Covid boom in the bicycle sector fuelled the revenues of Accell Group in 2020, which soared by 17.0 percent organically from the previous year to €1,296 million, thanks mainly to sustained high demand for bicycles, parts and accessories across Europe. The results do not include the group’s former operations ...
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Germany extends lockdown - with easing options
On March 3, the federal-state conference in Germany decided on how to further extend its present lockdown for non-essential retailer operations until March 28, to help fend off the Covid-19 virus. Like in the U.K., it will be phased out in stages, but retailers are furious, partly also because many ...
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Nike is centralizing operations for the Nordics
Responding to an inquiry from SGI Europe, Nike has told us that it is centralizing its operations for the Nordic countries in Sweden, while working with fewer retailers in the region. The statement came after we were alerted by subscribers to the fact that the brand was closing down its ...
