Latest Headlines – Page 149

  • Article

    Lululemon sells more than it had projected

    9 September 2020

    Thanks to strong gains in e-commerce, and despite disruptions in stores because of the Covid-19 pandemic, Lululemon Athletica managed to grow revenues by 2 percent to $902.9 million in the second quarter ended on Aug. 2, with a growth of 3 percent in constant currencies. Direct-to-consumer net revenues represented 61.4 ...

  • JD Sports
    Article

    JD reinstates guidance as H1 sales were better than expected

    8 September 2020

    Instead of continuing to withhold its financial guidance like many other companies, JD Sports Fashion is now forecasting annual pre-tax profits of at least £265 million (€293.0m-$345.8m) for the current firscal year, while releasing better-than-expected sales figures for the 26 weeks ended on Aug. 1, despite the coronavirus pandemic. This ...

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    Article

    Gym closings spur the demand for sporting goods in Russia

    8 September 2020

    Consumer demand for sporting goods on the Russian market has been seen growing because 37 percent of the gyms in the country are still not allowed to resume operations, based on research conducted by Evotor. Quite a few gyms have been shut down for good, as their owners had not ...

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    Article

    Management reshuffle at Pentland

    7 September 2020

    In an internal promotion, Chirag Patel is taking the place of Andy Long as chief executive of Pentland Brands, the owner of Berghaus, Canterbury, Ellesse, Speedo and other brands, overseeing a re-shaped executive team. Filling a new role, Long will become next January a director of Pentland Brands’ parent company, ...

  • Keller Sports
    Article

    New funding round for Keller Sports

    7 September 2020

    Although its profits have been growing more than its sales, the Keller Group says ithas secured more than €10 million in new financing from its shareholders to further strengthen its position as “the leading digital premium sports community for sports and sports lifestyle products and services in Europe.” The management ...

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    Article

    Amazon’s European chief is stepping down

    7 September 2020

    Xavier Garambois, who has been running Amazon’s European retail operations for the past eight years, is leaving the company. According to The Telegraph, he will be replaced by Jorrit Van der Meulen, Amazon’s vice president for Europe, who has also been in charge of Amazon Devices (Alexa, Vesta, etc.) outside ...

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    Article

    Amazon: The Janus-faced company

    7 September 2020

    The current Covid19 crisis has accelerated Amazon’s consumer goods business exponentially. The Silicon Valley giant doubled its profits in the second quarter of this year and increased its turnover to nearly $89 billion. The share value has also nearly doubled since the middle of March. On Sept. 1, Amazon announced ...

  • NPD - Global sports market trend
    Article

    NPD: The global sports market grew by 5% in 2019

    4 September 2020

    A rise of 9 percent in retail sales of bicycles and accessories drove the growth of the global sporting goods market in 2019, according to the NPD Group. The consumption of sports shoes slowed down to 6 percent, compared with an estimated increase of 9 percent in 2018. Both apparel ...

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    Article

    Intersport International elects new chairman, sets new goals

    4 September 2020

    Held online in a virtual format, the annual general assembly of Intersport International Corp. (IIC) elected today a Canadian industry veteran, Rick White, as its new chairman. The 61-year-old manager, who is known for his operational efficiency, takes the place of the 65-year-old Jussi Mikkola from Finland, who retired as ...

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    Article

    Cycling has defied the Covid-19 crisis in Germany

    4 September 2020

    In its latest “sentiment barometer” for the first half of 2020, the German Bicycle Industry Association (Zweirad-Industrie-Verband e.V.; ZIV) comes to the conclusion that bicycles and e-bikes have been among the winners during the coronavirus crisis in Germany, while many other industries have suffered as a result of the global ...

  • Article

    Galeria’s creditors agree to a big settlement

    3 September 2020

    On Sept. 1, the creditors of Galeria Karstadt Kaufhof (Galeria or GKK), by far the biggest department store chain operation in Germany, voted by a large majority in favor of a settlement that would reportedly write off about 95 percent of the amounts they are owed. Meetings with the creditors ...

  • Article

    Strong growth in Norway

    3 September 2020

    Norway’s major sports retail chains recorded a particularly strong increase of 17.7 percent in the second quarter of 2020 as compared to the year-ago period, despite the Covid-19 pandemic, according to the country’s well-informed sporting goods industry association, Sportsbransjen. Their online sales went up at higher rates. Norway is already ...

  • Article

    New management for Kesko’s resilient sports unit

    3 September 2020

    Sami Kiiski, a 44-year-old manager who left as chief executive of Halti at the end of July after turning the company around, has taken the leadership of Kesko’s Leisure Trade division, which includes Intersport Finland, the major player in the Finnish sporting goods market. One of his tasks will be ...

  • Stella Luna
    Article

    Steep sales declines at two Chinese shoemakers

    2 September 2020

    Stella International posted a net loss of $9.3 million for the first half of this year, against net income of $39.2 million in the year-ago period, on revenues that dropped by 32 percent to $511.5 million. The gross margin fell by 1.4 percentage points to 16.6 percent, due to cancelled ...

  • Article

    Two prominent Adidas executives quit

    1 September 2020

    Two prominent U.S.-based Adidas executives are leaving at the same time, but an official of the company says the two events are completely unrelated. Jon Wexler, a 20-year veteran of the company who has been leading its Yeezy business unit since last November as vice president and general manager, left ...

  • Article

    Xtep’s new acquisitions boost turnover, but profits drop

    1 September 2020

    Last year’s acquisition of K-Swiss and its various footwear labels, including Palladium and Supra, helped Xtep International Holdings of China to show good revenues for the first half of this year. A smaller contribution came from the company’s new joint venture with Wolverine Worldwide, from the Merrell and Saucony brands. ...

  • Polygiene
    Article

    Lloyds Fonds acquires 2.4% of Polygiene

    1 September 2020

    As we reported earlier, the Swedish fabric technology brand Polygiene, which was founded in 2006 as a spin-off of the Swedish chemical company Perstorp, was among the winners in the Covid-19 pandemic thanks to its new antiviral treatment, ViralOff®, which was launched in April. This success also aroused the interest ...

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    Article

    Ecco and others donate bicycles in developing countries

    31 August 2020

    As part of the company’s corporate responsibility program, the Danish shoe brand is donating bicycles to children in Vietnam. While this is just one of Ecco's aid projects - others include donating school supplies to schools in Thailand or funding mobile libraries in Indonesia - it is a great example ...

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    Article

    Market Analysis: The sports apparel market

    31 August 2020

    We show you who are the winners and losers in the market.

  • Polygiene
    Article

    ViralOff helps Polygiene to thrive during pandemic

    27 August 2020

    Polygiene is at the center of media attention since it launched ViralOff, a fabric treatment with antiviral properties, in April. In the context of Covid-19 outbreak, demand for the garment has soared, and the group expanded its scope from initially treating protective clothing, face masks and other hospital products to ...