Latest Headlines – Page 128
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Moody’s and S&P forecast 15% lower sales at Amer in Q3
In a new report, the rating agencies Moody’s and S&P reveal that Amer Sports’ revenues fell by 36 percent in the second quarter and by 22 percent in the first half, hampered by the impact of the pandemic. Ebitda showed a loss of €26 million for the first half, against ...
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ArticleCallaway’s profit plunges due to Jack Wolfskin writedown
Callaway Golf Co. ended the second quarter in the red due to a $174 million impairment charge related to the Jack Wolfskin goodwill and trade name. It posted a net loss of $167. 7 million for the period, versus net income of $28.9 million for the year-ago quarter. The management ...
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ArticleAmazon is entering the Nordics
Confirming plans to set up its seventh European website in Sweden in time for Christmas shopping, Amazon has posted a job advertisement for a manager who would also be responsible for Norway, Denmark and Finland. Until now, Swedish consumers and companies have only had access to the other European Amazon ...
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ArticleITK and Bosch Research set up competence center for smart textiles
ITK Engineering, a German technology company operating internationally with customers mainly in the automotive and aerospace industries and a 100-percent subsidiary of the Robert Bosch GmbH since 2017, joined forces with Bosch Research to set up the Smart Textile Competence Center in the German town of in Rülzheim to investigate ...
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ArticleAdidas ends in the red, sees upside
The German sportswear giant posted an operating loss of €333 million, compared with an operating profit of €643 million a year earlier, due to several coronavirus-related charges. These were mainly due to increased inventory and bad debt allowances, as well as impairment charges for retail stores and the Reebok trademark, ...
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ArticleWolverine’s online sales jump by 96%
Wolverine Worldwide posted better-than-expected sales in the second quarter, as the impact of the coronavirus-related retail lockdown was partly offset by a growth of 96 percent in the group’s own e-commerce operations, representing more than 40 percent of revenues during the period. Merrell, Saucony and work footwear brands like Wolverine ...
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ArticleAcushnet’s sales fall by 35%
Acushnet, the American golf company controlled by Fila Korea, had a difficult start to the second quarter, but it witnessed a recovery in sales after lockdown eased and demand for golf products picked up again. Following the re-opening of its production facilities and distribution centers in late May, the company ...
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ArticleFitbit’s Q2 sales fall as Covid-19 hits demand; EU probes Google merger
Fitbit reported a fall in second-quarter sales as demand for its devices slumped and warned the coronavirus pandemic would have a negative effect on full-year earnings. Second-quarter revenue fell 16.7 percent to $261.3 million, driven by a 30 percent decline in device sales. The wearable technology maker, which is preparing ...
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ArticlePandemic harms American Apparel owner Gildan in Q2
Sales at Gildan Activewear, a Canadian group that bought American Apparel in early 2017 and sells a range of apparel products in North America, Europe, the Asia-Pacific, and Latin America, plunged in the second quarter as the company swung to a net loss, reflecting the impact of the coronavirus pandemic ...
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ArticleLenzing's sales slump in H1 due to Covid-19
Lenzing, the Austrian fiber specialist, recorded a significant drop in sales for the first half of fiscal 2020. Since fiber prices came under intense pressure due to the Covid-19 crisis and demand for textile fibers dropped significantly in recent months, sales declined by 25.6 percent to €810.2m. A slightly higher ...
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ArticleAlpargatas thrives abroad in a challenging context
Despite the economic impact of the coronavirus pandemic, Alpargatas, the parent company of Havaianas and Osklen, managed to grow its revenues outside the domestic Brazilian market in the second quarter. Overall sales declined by 19.6 percent to 680.5 million Brazilian reais (€108.6m-$128.6m), while the gross margin expanded by 2.1 percentage ...
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ArticleCrocs results fueled by e-commerce
While many brick-and-mortar stores were closed during the second quarter, Crocs saw record sales in e-commerce, as consumers migrated to online shopping during the pandemic. Revenues for the three months ended on June 30 declined by 7.6 percent from the year-ago quarter to $331.5 million, or by 6.0 percent on ...
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ArticleBritain’s DW Sports will close all its stores
DW Sports, a big operator of gyms and sporting goods stores across the UK, has entered into administration, a British form of insolvency. All its shops and some of the gyms are set to be closed down, putting 1,700 jobs at risk, but DW plans to work with its joint ...
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ArticleRossignol sells Raidlight to its founder
The Rossignol Group has announced the sale of Raidlight Vertical, a French company specializing in footwear, apparel and equipment for trail running and ski touring, with an annual turnover of around €8 million. It will only keep and expand its Outdoor Experiences division, which organizes trail running, Nordic walking, mountain ...
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ArticleFESI welcomes entry into force of FTA between EU and Vietnam
The Federation of the European Sporting Goods Industry (FESI) is welcoming the long-awaited formal entry into the Free Trade Agreement between the European Union and Vietnam (EVFTA) on Aug. 1. After more than eight years of negotiations, the EU and Vietnam will finally benefit from a free trade agreement that ...
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ArticleUnder Armour posts heavy losses
Under Armour unveiled poor results for the second quarter, recording a net loss of $182.8 million, compared with a net loss of $17.3 million for last year’s corresponding period, as sales tumbled by 41 percent due to store closures related to the pandemic. About 80 percent of points-of-sale worldwide were ...
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ArticleHanesbrands Q2 sales are almost flat from last year, despite the pandemic
Hanesbrands, the parent company of Champion and other apparel brands, posted revenues of $1.74 billion in the second quarter ended June 27, only slightly down from $1.76 billion in the second quarter a year ago, despite market disruption from the Covid-19 pandemic. Excluding sales of $119 million from the now ...
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ArticleVF expects some improvement in the second quarter
Despite posting steep declines in revenues and earnings for its first quarter ended on June 30, the management of VF Corp. insisted that the company is in a strong position to get through the coronavirus pandemic because of its “financial and operational rigor” and the progress it has made in ...
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ArticleBasicNet first-half sales fall as Covid lockdowns force store closures
Kappa and K-Way owner BasicNet reported a 25 percent fall in first-half aggregate sales as it felt the impact of Covid-19 lockdown measures since January on all its markets. Aggregate sales for the period totaled €367.6 million, down from €484.8 million a year earlier. The figure includes commercial licensees of ...
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ArticleHoka One One’s momentum saves Deckers Brands’ quarter
Despite headwinds from Covid-19, and a 10 percent decline for Ugg, robust sales at Hoka One One helped Deckers Brands grow in its first fiscal quarter ended on June 30. They progressed by 2.3 percent from the same period last year to $283.2 million, or by 2.8 percent in constant ...
