Latest Headlines – Page 111
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Garmin’s fitness and outdoor sales surge
Robust demand for advanced wearables and cycling products helped Garmin to post record results for the fourth quarter of 2020. The Swiss-based company, which also makes equipment for the aviation and automotive industries, reported that its total sales rose by 23 percent to $1,351 million for the 13 weeks to ...
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ArticleA game-changing foldable ski by Elan
Elan unveiled the world’s first foldable, high-performance, all-mountain ski on Feb. 1, the first day of the ISPO Munich Online show, where it got a prize as one of the ISPO Gold Award winners. Called the Elan Voyager, the ski can be easily disassembled and packed into a bag for ...
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ArticleHi-Tec’s parent will change hands, if the price is right
Apex Global Brands, the American brand management and licensing organization previously called Cherokee Global Brands, which owns the Hi-Tec, Magnum and Tony Hawk brands, among others, confirmed that it has entered into a merger agreement with Galaxy Universal, a Colorado-based project management and investment firm.Galaxy is described as a sourcing ...
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ArticleAdidas has decided to divest Reebok
Having completed a month-long review of the brand, the Adidas Group has decided to begin a “formal process” to divest the Reebok brand. The other option would have been to keep it in-house. The German sportswear giant had originally planned to make an announcement on March 10, during a previously ...
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ArticleThe latest on Nike’s presence on Lidl’s marketplaces
Some Nike products are being offered on the German and Spanish marketplaces of LIdl, one of the largest low-cost grocery retailers in Europe, raising some eyebrows. However, Nike released the following statement in reaction to a a report in the Spanish pres: ”Lidl is not a partner in Nike’s marketplace ...
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Some internet platforms will have a harder time in Germany
German authorities have passed an amendment to the German Competition Act, published in the Federal Gazette on Jan. 19, that will allow the country’s strong Federal Cartel Office (FCO) to ban large internet platforms like Amazon from engaging in certain types of conduct much earlier than before. The German Cartel ...
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Record operating results for Craft’s parent
Efforts to prioritize costs, earnings and cash flow bore fruits in the fourth quarter of 2020, helping the New Wave Group to score record operating profits. Despite restrictions linked to the pandemic and canceled or postponed events, the Swedish company behind Craft of Scandinavia and Cutter & Buck saw its ...
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Dorel will remain on the stock exchange
Dorel Industries and Cerberus Capital Management have terminated an agreement in principle that would have allowed the Canadian company to go private. As a result, a meeting of shareholders that was planned for Feb. 16 to endorse the deal has been cancelled. First reached last November, when the purchase price ...
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ArticleVF wants more “equity” in its labor policy
In line with its Council to Advance Racial Equity (CARE) and Inclusion, Diversity, Equity and Action (IDEA) initiative, VF Corp. is implementing a number of new measures in its labor policy. “All VF employees will participate in a foundational inclusion and diversity learning journey to ensure they share a common ...
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Beachbody will go public after a merger
Beachbody, the big California-based digital fitness streaming and nutrition company, will go public on the New York Stock Exchange following an agreement to merge with Myx Fitness Holdings, which sells connected fitness bikes, and SPAC Forest Road Acquisition Corp., which is already on the stock exchange. Beachbody’s current management and ...
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ArticleRip Curl continues to support Kathmandu’s performance
The acquisition of Rip Curl in October 2019 was a good move for Kathmandu Holdings. In a preliminary trading update, the Australian group said that its revenues for the six months ended on Jan. 31, 2021, progressed by 12 percent from the year-ago period, as Rip Curl’s strong performance offset ...
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Asics tops guidance with strong sales in China and higher profits in Europe
Although its annual revenues and operating earnings decreased, Asics Corp’s annual results beat the guidance that the company had given last November. Net sales for 2020 declined by 13.0 percent to 328.7 billion yen (€2.58bn-$3.12bn) due to the impact of the Covid pandemic, including a drop of 14.0 percent in ...
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Intersport fell by 8% in five markets last year
Intersport’s sales declined by 8 percent to just over €3 billion during the financial year ended last Sept. 30 in the five countries steered by the Intersport Deutschland retail cooperative: Germany, Austria, Hungary, the Czech Republic and Slovakia. Double-digit declines in April and May, when stores were closed due to ...
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Sport 2000 grew by 5% in five countries
The Sport 2000 GmbH sports retail organization, which covers the five countries of Germany, Switzerland, the Netherlands, Belgium and Luxembourg, was able to generate a small growth of 2 percent in the overall business volume during the 2020 crisis year. The growth was driven primarily by the accession of major ...
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ArticleRapala bounced back in H2
The Finnish manufacturer of fishing lures had a difficult start in 2020, ending the first six months with a net loss of €3.8 million due to the impact of lockdowns. But in the second half, business conditions picked up for Rapala VMC, as fishing gained popularity as an activity that ...
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Callaway records higher losses but sales soar
Callaway Golf Co. saw its net loss in the fiscal fourth quarter deepen to $40.6 million, compared with a loss of $29.2 million last year. However, sales surged by 20.2 percent to $374.6 million, led by strong demand in the golf equipment segment and a quicker-than-expected recovery in the softgoods ...
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ArticleRobust sales and earnings for Thule
The Swedish-based Thule Group saw its sales soar by 32.6 percent in the fourth quarter of 2020 to 1,605 million Swedish kronor (€159.3m-$193.2m), and they were up 44.6 percent in constant currencies. Net income jumped to SEK 164 million (€16.3m-$19.7m) from SEK 30 million for the fourth quarter of 2019. ...
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ArticleUnder Armour beats expectations
Recent restructuring efforts seem to have been quite effective, as Under Armour reported better-than-expected results for the fourth quarter of 2020. The company surprised analysts by reporting a profit for the quarter, thanks primarily to strong digital growth due to the popularity of its athletic apparel for home workouts, as ...
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VF Corp. wants to eliminate single-use plastic packaging by 2025
VF Corp. has announced new sustainable packaging goals, defined as “a critical component of VF’s global sustainability strategy” for its large portfolio of brands, which includes The North Face, Vans, Timberland, icebreaker and Eastpak, among others. The new targets revolve around the following four pillars : 1) Eliminate all single-use ...
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Better-than-expected sales for Champion’s parent company
Hanesbrands, the parent company of Champion USA, saw its revenues for the fourth quarter grow by 2.9 percent to $1.8 billion, led by Champion. The revenues were well ahead of Wall Street’s consensus of $1.6 billion and caused the share price to surge by 25 percent. However, the company ended ...
