Latest Headlines – Page 136
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Spaniards project a recovery in March 2021
According to a recent survey of 1,187 Spanish industry professionals conducted by CMDsport, the general sense in the national sporting goods industry is that the market will return to its pre-crisis level sometime between September 2020 and March 2021. But uncertainty reigns. The projections listed in the questionnaire ran from ...
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Interesting anti-virus action online
Provided that they have sufficient staff at their warehouses, brands are still able to sell products online that cannot be sold by retailers whose stores are closed because of national coronavirus lockdowns. In a nice gesture of solidarity, brands like Ortovox and Leki in Germany are giving a portion of ...
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ArticleDecathlon, Nike and others make anti-virus gear
(Updated on April 8) After a successful experiment in Italy (see our previous issue), Decathlon is working with the same Italian 3D printing specialist to adapt its Easybreathe snorkeling masks for the production of respiratory masks that it is donating to hospitals in France and Spain. It has taken all ...
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Sport 2000 explores the post-corona future with suppliers
Instead of standing still and just waiting for the end of the confinement period, the retail organizations of Sport 2000 in Germany and Austria are taking action by studying new opportunities for cooperation with vendors.
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Columbia and VF executives cut their paychecks
Without going as far as Tim Boyle at Columbia Sportswear, Jim Rendle, chairman, president and chief executive of VF Corp., has pledged to cut his compensation in half for the next four months to help save cash for the fight against the coronavirus outbreak. Boyle, president and CEO of Columbia, ...
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More donations for coronavirus
(Updated on April 8) Italy’s Cisalfa Sport is supporting Hope, the non-profit organization that helps children and disadvantaged communities in Italy and the Middle East, through the project #CorsaPerLaVita (the Italian for “Run for Life”). The objective of the project is to raise funds for the purchase of lung ventilators, ...
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ArticleSurvey estimates €3.1bn loss in industry revenues in France
According to a survey among its members by Union Sport & Cycle, the French sporting goods and cycling industry association, the Covid-19 pandemic has so far led to losses of €3.1 billion and to the layoff of 50,000 employees across the supply chain in the industry at large. More than ...
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Strong European e-bikes sales take Giant to record highs
The Giant Group reported a 5.3 percent increase in revenues to a record 63,449 million New Taiwan dollars (€1.9bn-$2.1bn) in 2019, boosted by the rising popularity of e-bikes, especially in Europe, where sales gained about 13 percent to NT$ 18,667 million (€571.6m-$617.4m). Collectively, the Taiwanese bike manufacturer’s brands - Cadex, ...
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ArticleWintersteiger proposes a drying cabinet for disinfection of face masks
To support emergency and medical personnel in times of the Covid-19 pandemic, Wintersteiger has developed a new drying cabinet: The Pure CO18 is used for the chemical-free disinfection of protective masks and hygiene-related utensils. In addition to the drying process, ozone is used to effectively reduce germs. The Austrian ski ...
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Moody's is pessimistic about Amer's outlook
Moody’s downgraded its ratings for Amer Sports’ debt to the lowest level possible, issuing a pessimistic short-term outlook for the company, acquired a year ago by Anta Sports Products and other investors. Moody’s expects a 20 percent decline in the group’s revenues this year, noting that its products are subject ...
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Under Armour budgets hefty restructuring charges
On April 3, Under Armour announced a series of steps that it intends to take in reaction to the “acute” shock caused by the coronavirus epidemic, and quantified the cost of its restructuring program. A few days earlier, two investment brokers, Goldman Sachs and Stifel, had reduced their projections for ...
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Puma will hold a virtual AGM, Adidas will pay rent
Puma announced on April 3 that it was suspending the payment of its dividend for this year. Unlike Adidas, which has decided to postpone its own AGM to a still undefined date, the Wild Cat has decided to stick to the previously scheduled date of May 7, but it will ...
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Sportmaster recognized as an essential company for the Russian economy
On March 23, a Russian government commission on economic policy officially added Sportmaster to the list of the companies essential to the national economy. Sportmaster became the first sporting goods retailer in the country ever granted this status, which could help it to better navigate through the current coronavirus epidemic.
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Asics introduces three shoes virtually
Asics has announced the release of three new models of shoes: the Metaracer, the Metarise and the Metasprint. The Japanese company had planned to introduce the shoes at an Asics Innovation Summit in Tokyo. In response to the Covid-19 pandemic, however, it has opted instead to produce its first virtual ...
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ArticleGaleria and Karstadt Sports get protection from creditors
Galeria Karstadt Kaufhof (or Galeria for short), the new holding company formed last year from the merger of the Galeria Kaufhof and Karstadt department stores, submitted an application for protection from its creditors which was approved by the local court of Essen on Wednesday. Stressing that the proceedings are not ...
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OR and other shows are cancelled or postponed
Outdoor Retailer (OR) announced in a “letter to the community” that the OR Summer Market, initially scheduled for June 23-25 in Denver, Colorado, had to be cancelled. Marisa Nicholson, senior vice president and show director of OR, wrote that the difficult decision to cancel the 2020 summer show was made ...
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Kathmandu’s sales jump by 52% on Rip Curl’s acquisition
Kathmandu Holdings had record sales and profit for the first half of its financial year, ended on Jan. 31 2020, boosted by the acquisition of Rip Curl during the period. Revenues were also driven by a good performance by its New Zealand business and robust sales at Oboz, the American ...
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Yue Yuen posts mixed results
Yue Yuen Industrial Holdings, the world’s largest footwear producer, reported a 4.2 percent increase in sales to $10,105 million in 2019, driven by a double-digit increase in retail revenues. However, the Chinese company’s gross margin lost 0.3 percentage points, going down to 24.9 percent. and its net income fell by ...
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Li Ning’s profits soar
Even though it faced a difficult comparison base due to a stellar year in 2018, Li Ning managed to more than double its net income in 2019 to 1,499 million yuan renminbi (€192.2m-$211.4m). The Chinese sports company’s annual sales jumped by 32 percent from the previous year to 13,870 million ...
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Fila performs well in Europe
The Italian heritage sports brand’s momentum remained particularly strong in Europe during the fourth quarter of 2019, as Fila Korea’s licensing royalties from the region surged by 47 percent from the year-ago quarter to 39,200 million Korean won (€29.2m-$32.0m).
