Latest Headlines – Page 148
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Topsports raises $1 billion in Hong Kong IPO
Topsports International Holdings, the sports retailing arm of Belle International, raised $1.01 billion in an initial public offering on the Hong Kong stock exchange. With more than 8,000 stores, the company claims to be the largest sporting goods retailer in China, with an estimated 15.9 percent share of the market. ...
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Sports Direct lashes out at the big sports brands
Sports Direct International issued a statement proposing that “the (sporting goods) industry as a whole would benefit from a wide market review by the appropriate authorities in both the UK and Europe,” citing the practices of major sports brands like Adidas.SDI has never quite recovered from the blow it suffered ...
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Sport 2000 Austria is taking new initiatives
Sport 2000 Austria recently signed a strategic partnership agreement with Northland, an Austrian outdoor brand created 46 years ago, which has 30 stores in Austria and a presence in 43 other countries. Additionally, the Austrian cooperative has signed a strategic partnership with Geomix, which is said to be the biggest ...
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Humanic’s parent hires a sports expert
Leder & Schuh is strengthening its executive board by bringing in a sports-retail specialist. The big Austrian shoe retailing group is looking to expand its banners while digitalizing and focusing more on the sports-lifestyle consumer segment.The company has hired Michael Rumerstorfer, who has a long history of leadership in sporting ...
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Sportmaster completes Go Sport Poland’s takeover
Russia's biggest sports retailer has finalized the takeover of Go Sport Polska, the Polish subsidiary of the French-based Go Sport Group, the company said in a statement released on Sept. 30. The price of the takeover has been limited to €40 million, according to a Russian information agency, Infoline-Analytics.Go Sport ...
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Boardriders plans to sell its European HQ
Boardriders plans to sell and lease back its plush European headquarters in Saint-Jean-de-Luz to get some cash, according to a report in a local newspaper, Objectif Aquitaine. The decision to sell the property was announced to Boardriders staff on Sept. 27, said the French newspaper, which also gave some figures ...
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Improving Kathmandu sees other synergies with Rip Curl
Investors have responded positively to the news on Oct. 1 of Rip Curl's takeover, raising Kathmandu Holdings' stock market capitalization by 5 percent to more than 830 million New Zealand dollars (€472.3m-$521.1m) after a temporary suspension of trading. Like the much bigger VF Corporation, Kathmandu now has one leg in ...
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VF’s investments and growth in Europe will vary from one country to another
VF is forecasting higher sales growth in the GAS (Germany, Austria, Switzerland) area over the next five years than in the other major markets in the Europe, Middle East and Africa (EMEA) region. At the global Investor Day held on Sept. 25 in Beaver Creek, Colorado, VF projected a compound ...
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A new deal for Dakine in Europe
The brand's best distributor in Europe, Bucher + Walt of Switzerland, has acquired Dakine Europe, the subsidiary of the American brand based in Annecy. Branching out of its national territory for the first time, it will be responsible for about one-third of Dakine's total turnover, estimated at nearly $100 million ...
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Nike athlete breaks marathon record, but…
On Oct. 12, Eliud Kipchoge, the distance runner sponsored by Nike, became the first man to run the marathon distance of 26.2 miles in less than two hours. His exact time was 1:59:40. Kipchoge was taking part in the Ineos 1:59 Challenge, an unofficial marathon in Vienna. The route was ...
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A tweet imperils multiple basketball deals
Basketball is very popular in China, but in response to a few words delivered on social media, the two major Chinese internet marketplaces and several retailers in major Chinese cities have pulled all merchandise bearing the brands of the Houston Rockets or the NBA from their shelves. Nike took similar ...
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Intersport Russia is found selling fake items
While the current Russian licensee of Intersport is winding down its loss-making operations, the court of arbitration of the Russian republic of Buryatia has found an Intersport store in the city of Ulan-Ude guilty of selling counterfeit sporting goods under the brands of Adidas, Reebok and Nike.
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Nike and Lululemon top a frugal teen market
Piper Jaffray, the American investment bank and institutional securities firm, has released the latest edition of its semi-annual “Taking Stock With Teens” survey, which follows trends in the spending and brand preferences of teenagers. This 38th edition, which surveyed 9,500 teenagers in 42 U.S. states, may be indicative of trends ...
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Nike beats forecasts
Nike announced higher-than-expected increases in profits and revenues for its first fiscal quarter ended on Aug. 31, despite currency headwinds and the trade tensions between China and the U.S. The company's share price jumped by 5 percent to an all-time high following the release of its results.Sales increased by 7 ...
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A doping scandal mars Nike’s image
Nike and its chief executive, Mike Parker, have become involved in a highly publicized case of athletic doping. The U.S. Anti-Doping Agency (USADA) has decreed four-year “sanctions” on Alberto Salazar, head coach of the Nike Oregon Project, and Jeffrey Brown, the project's endocrinologist. Salazar has been barred from participating in ...
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Fast-growing Anta reorganizes, focusing on quality
Exceeding expectations, Anta Sports Products reported a 40.3 percent increase in revenues to 14.81 billion renmimbi (€1.889bn-$2.072bn) for the first half ended on June 30. The attributable profit went up by 27.7 percent to RMB 2.48 billion (€316m-$347m), and it jumped by 53.5 percent to RMB 3.07 billion (€391m-$429m) excluding ...
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Kathmandu takes over Rip Curl
Nearly doubling in size, Kathmandu Holdings of New Zealand announced a binding agreement for the acquisition of Rip Curl. Contributing to the consolidation of the action sports market, which took a big step in the spring of last year with the merger between Billabong's and Quiksilver's brands into Boardriders, the ...
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Boardriders maps out strategic initiatives
While reporting on the appointment of new managers, Boardriders says it has several strategic initiatives in full swing that are generating stronger profitability and that it is making progress in integrating Billabong's former operations, giving it more firepower to focus on growth. Not only will Boardriders increase investment into its ...
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VF unveils new strategic plan and financial outlook
VF Corporation held a meeting on Sept. 25 with investors and analysts in Beaver Creek, Colorado, to provide an update to the company's strategic growth plan. It used the opportunity to introduce a new corporate logo for the first time in 21 years, accompanied by a telling new tagline: “Purpose ...
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Decathlon is launching an inclusive ski platform
Decathlon is planning to launch on Nov. 15 a new platform for skiers, Decathlon.ski, that will enable customers to make reservations for both gear and ski passes through a single system, both for the Alps and the Pyrenees. The new facility will go live with customers in France before being ...
