Latest Headlines – Page 116
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A new EU Work Plan for Sport
The European Commission has published a new EU Work Plan for Sport for the 2021-24 period, aimed at promoting and developing cooperation on sport policy between the European institutions, the member states and the various stakeholders in the sport sector. The European Federation of the Sporting Goods Industry (Fesi) says ...
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Fesi welcomes the EU’s new Digital Services Act, but wants more
The European Commission has adopted its long-awaited Digital Services Act (DSA), indicating that it is intended to “create a safer digital space in which the fundamental rights of all users of digital services are protected.” The European Federation of the Sporting Goods Industry (Fesi) said it welcomes the move, but ...
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Signa Sports United thrives amid the pandemic
Sport and exercise have never been more popular in Germany than they are at present, in the midst of the Covid-19 pandemic, says Signa Sports United (SSU), which claims to be Europe’s biggest e-tailer for sporting goods through its numerous websites. Gear for home and outdoor use has been selling ...
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ArticleApex looks for strategic alternatives as sales sink by 17%
In reporting its latest quarterly results, Apex Global Brands said it is evaluating strategic alternatives, although its lenders agreed to extend their forebearance on a $40 million loan for three more months through March 31 in exchange for $2.5 million in additional fees. Lower licensees’ sales due to the pandemic, ...
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Canyon Bicycles has a new majority shareholder
Groupe Bruxelles Lambert (GBL), a major Belgian-based investment company, has agreed to take over majority control of Canyon Bicycles, the German bike producer known for its direct-to-consumer approach. Roman Arnold, a former supplier of bike components who founded the brand in 2002, will reinvest a significant part of the proceeds ...
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Vaha secures new funding round, bringing in Porsche Ventures
Vaha, a German start-up that launched an interactive mirror for home fitness, has completed a Series-B financing round, led by Unbound, a London-based investment founded by Shravin Mittal. Porsche Ventures, the investment unit of the Stuttgart-based car maker, emerged as a new investor in this round, alongside two existing investors, ...
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ArticleJD Sports expands on the U.S. West Coast by acquiring Shoe Palace
JD Sports Fashion has announced the acquisition of Shoe Palace, which describes itself as “one of the most trusted athletic footwear and apparel retail chains in the United States,” and other assets in a cash and stock deal worth over $680 million in total. Acting through a wholly-owned holding company ...
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New anti-Covid measures in Germany, Spain opens up
In concert with the governments of the individual Länder, the federal government of Germany has ordered the lockdown of all the brick-and-mortar stores that sell non-essential products, starting on Wednesday, Dec. 16. Opticians and bike repair shops are mentioned among the few exceptions. The new restrictions came after a spike ...
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ArticleWintersteiger’s new drying tech dispenses with chemicals
Wintersteiger, the Austrian manufacturer of special machinery, claims to have done away with chemicals in sterilization. Sterex, as its new system is called, uses cold plasma to eliminate up to 99.9 percent of the microorganisms found in skis and other products, among them the multi-resistant bacteria known as hospital germs ...
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EU, UK extend Brexit trade talks in effort to avoid a “no deal”
The United Kingdom and the European Union had decided to wait until Sunday, Dec. 13 to find a compromise on a trade agreement that would go into effect on Jan. 1. The European Commission’s president, Ursula von der Leyen, said the negotiators will continue to work into this week and ...
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The U.K. reaches trade accord with Vietnam, but a deal with EU is unlikely
After a dinner in Brussels on Wednesday night, British Prime Minister Boris Johnson and Ursula von der Leyen, the president of the European Commission, both indicated that the likelihood of “no deal” between the U.K. and the European Union has increased. Von der Leyden said that a final decision will ...
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EU to cut greenhouse emissions, Brooks and Vaude sign the Climate Pledge
The 27 members of the European Union agreed on Dec. 11, after a night of negotiations, to reduce by at least 55 percent their greenhouse gas emissions by 2030, compared with 1990 levels, increasing the target from a previous objective of 40 percent. “Europe will reduce emissions by at least ...
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ArticleStrong finish to a tough year for Johnson Outdoors, especially in diving
Strong demand for fishing, camping and watercraft recreation products drove significantly higher sales and profits for Johnson Outdoors’ fiscal fourth quarter. The management said that the demand picked up in the second half of the year after a difficult second quarter, at the onset of the pandemic. After lockdowns eased, ...
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Russian law enforcement agencies keep seizing untagged shoes
Russian police have seized big batches of counterfeit shoes in St. Petersburg and in the Chelyabinsk and Novosibirsk regions. In Novosibirsk, for example, police officials seized 1,338 pairs of shoes that didn’t have the QR codes that became mandatory in Russia on July 1 to help wipe out counterfeit shoes ...
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Lululemon’s profits return to double-digit growth
The yoga apparel specialist saw its net income progress by 14 percent in the third quarter to $143.6 million, rebounding from a 31 percent dip suffered in the second one, in spite of extra expenditures of $8.5 million related to the $500 million acquisition of Mirror. The gross margin rose ...
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ArticleDecathlon will gross €30m in its first year in Ireland
For several reasons, Decathlon’s entry into the Republic of Ireland, which added a 59th country to the French sports retailer’s worldwide roster, has been a huge success. The project’s 41-year-old leader, Bastien Grandgeorge, is expecting a profit on sales of around €30 million in the first year of operation of ...
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Frasers Group raises guidance as stores reopen
After what the Frasers Group called its most challenging year in its history - due to Brexit, a Belgian tax investigation and Covid-19 - the parent company of Sports Direct and many other retail chains posted a 29 percent rise in earnings for the first half of its fiscal year ...
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Ispo Brandnew announces its top 10
Ispo Brandnew, purportedly the world’s largest start-up competition for the sporting goods industry, will as usual form part of the next – entirely virtual – Ispo Munich trade show, scheduled for Feb. 1-5. Some 30 young companies – 10 winners and 20 “selected brands” – will introduce themselves, in their ...
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ArticleA cross-industry warning from the European winter sports sector
The Federation of the Sporting Goods Industry (Fesi) has released a statement in which 10 leading ski companies, five sports retail groups and 12 sporting goods industry federations raised concerns about the consequences for the industry of the planned closure of many European winter sports resorts in relation to the ...
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ArticleSpanish campaign promotes sport as a study projects fewer jobs and higher healthcare costs
An association called España se Mueve – along with the High Sports Council, the autonomous community of Madrid and the Madrid city hall – has launched a campaign to help the Spanish sports sector weather the Covid-19 storm and promote sport among the populace for the sake of public health. ...
