Latest Headlines – Page 120
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New Wave focuses on costs savings
The New Wave Group, the Swedish company behind Craft and Cutter & Buck, said actions to prioritize costs, earnings and cash flow bore fruits in the third quarter. The operating margin gained 4.3 percentage points to 12.0 percent due to these efforts. It was only the second time in the ...
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GoPro swings to a profit
The American action camera specialist managed to post a profit for the third quarter thanks to a more intense direct-to-consumer (DTC) approach and strong sales of new products, which helped boost total revenues by 114 percent to $280.51 million. Analysts expected revenues of $234.5 million. GoPro’s net income for the ...
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Deckers Brands highlights CSR goals and achievements in a new report
Deckers Brands has released its Creating Change FY20 Corporate Responsibility and Sustainability Report, in which the group highlights its achievements toward its sustainable development goals during the reporting year from Apr. 1, 2019 to March 31, 2020. Deckers owns a portfolio of footwear, apparel and accessories brands for casual lifestyle ...
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Bike Fun changes hands, Canyon sees takeover interest
Bike Fun International (BFI), a bicycle maker based in the Czech Republic, and Consillium, a Prague-based private wealth management firm owned by Tomas Němec, have agreed on a transaction that will see Consillium acquire a 100 percent share in BFI. The deal was agreed on Oct. 1 and is expected ...
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Champion’s parent company unveils new strategies
Hanesbrands, the parent company of Champion USA, is about to take a new direction. After releasing mixed results for the third quarter, the group’s new chief executive, Stephen Bratspies, said it is conducting an in-depth review of its business to develop a growth strategy better tailored to the post-pandemic world, ...
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ArticleBurton’s Chill Foundation launches a European chapter
The Chill Foundation, founded 25 years ago by Donna Carpenter and her late husband Jake Burton Carpenter, owners of Burton Snowboards, has set up a European office in Europe. The new Chill Europe is based in Zurich, where Donna Carpenter, joint chief executive of Burton, moved in 2019 to get ...
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Better-than-expected results for Wolverine
Although they were down on last year’s third quarter, Wolverine Worldwide posted better-than-expected sales in the three months to Sept.26, led by double-digit growth from Saucony and Chaco. The impact of coronavirus-related restrictive measures on retail was partly offset by a growth of 56.4 percent in the group’s own e-commerce ...
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An unexpected profit for Canada Goose
Thanks to strong demand from China, Canada Goose posted an unexpected profit in the second fiscal quarter. After posting heavy losses in the first quarter, it has now returned to profits with a net income of 10.4 million Canadian dollars (€6.7-$8.0m) for the three months of its second quarter ...
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Alibaba grows by 30%, misses Ant Group’s IPO
Confirming a recovery from the first wave of the Covid-19 pandemic in China, the Alibaba Group reported a 30 percent increase in overall revenues to 155.1 billion yuan renminbi (€19.9bn-$23.5bn) in the third quarter, leading to a rise of 28 percent in adjusted Ebitda to RMB 47.5 billion ($6.1bn-$7.2bn). The ...
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Higher prices boost Fitbit’s sales and margins
Fitbit reported revenues for the third quarter that rose by 5 percent from the year-ago quarter to $363.9 million, driven by higher average selling prices. The net loss grew slightly to $54.5 million on a GAAP accounting basis, but it declined sharply on a non-GAAP basis to $8.3 million from ...
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Best quarter ever for Polygiene
Polygiene reported its “best quarter ever,” with sales rising by 11.7 percent to 22.9 million Swedish kronor (€2.27m - $2.63m) and the gross margin rising by 0.5 percentage points to 70.4 percent, leading to a financial turnaround. The results led to a financial turnaround for the Swedish ingredient brand company, ...
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ArticleGrowing Zalando launches Connected Retail in more countries
In releasing excellent results for the third quarter, Zalando announced the introduction of its Connected Retail program in Denmark, Finland and Norway on Nov. 1. As it did for a few months after its launch in Germany and the Netherlands, it is waiving all commissions for all partners using the ...
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ArticleVincent Wauters will lead Rossignol, boosting apparel and digital
The alpine ski industry is going through a major generational change as it seeks new avenues of diversification. After the retirement of Jean-Marc Pambet as chief executive of Salomon one year ago and the more recent resignation of the 50-year-old Antonio Dus as CEO of the Tecnica Group, it is ...
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ArticleBad timing for the new lockdowns in Europe
More and more European governments are following the example of the Republic of Ireland, which ordered a six-week lockdown on the sale of non-essential goods at physical stores on Oct. 21 to help stem the second wave of the Covid-19 epidemic, which now has its epicenter in Europe, as in ...
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Lululemon expands its leadership team
Lululemon Athletica has promoted one of its managers, Celeste Burgoyne, and brought in an experienced manager, André Maestrini, who will join the company from Adidas in January to serve as executive vice president in charge of international operations. It has also appointed a new manager in charge of diversity and ...
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ArticleCovid affected China’s biggest sports retailer slightly
Topsports International, which claims to manage the biggest network of directly operated stores in the Chinese sports market, reported a 7.0 percent drop in revenues to 15.77 billion yuan renmimbi (€2.0bn-$2.4bn) for the first half of its fiscal year, ended on Aug. 31. The gross margin contracted by 2.1 percentage ...
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ArticleAmazon posts 37% higher sales, net profit triples
Amazon said that its sales in the third quarter grew by 37 percent to $96.1 billion. They were boosted by booming online transactions during the coronavirus crisis worldwide, which prevented or discouraged shoppers from purchasing in physical stores. Excluding a $691 million favorable impact from year-over-year changes in foreign exchange ...
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ArticleAntonio Dus leaves Tecnica
The Tecnica Group says that its chief executive, Antonio Dus, is leaving in December 2020 “in order to be able to devote himself to other personal and professional projects.” The company’s chairman, Alberto Zanatta, will be acting as CEO on an interim basis with effect from Nov. 1. Reaching Ebitda ...
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ArticleUnder Armour posts better-than-expected Q3 results
Under Armour reported net income of $38.9 million for the third quarter, compared with $102.3 million in the year-ago period, on virtually flat revenues of $1,433 million. Aside from a weaker gross margin, the lower profitability was essentially due to ongoing restructuring and impairment changes of $74.2 million for the ...
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ArticleFogliato will run Columbia’s omni-channel activities in executive reshuffle
Columbia Sportswear Company has announced a series of senior leadership changes executing on transition plans while supporting the company’s omni-channel programs for growth and unlocking digital opportunities. The company is aligning its organizational structure globally “to accelerate our business transformation with a focus on e-commerce and digital,” said Tim Boyle, ...
