Latest Headlines – Page 153
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Accell accelerates with e-bikes, pulls out of Canada
Surging sales of electric bicycles in Europe boosted revenues for the Dutch company behind Haibike, Lapierre, Batavus, Raleigh and many other bike brands. Its turnover picked up pace in the second half of 2019, soaring by 7.4 percent to €682.6 million.The company's so-called core businesses, which exclude its North American ...
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Accell sells Canadian brand rights
However, the group's performance in North America failed to show improvement in the course of the quarter, as U.S. bike sales, which are now considered non-core, declined by 15.9 percent to €31.8 million, leading to a higher operating loss of €11.3 million in this segment.The management said it expects to ...
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E-bikes power Giant and Merida
Accell's results came after those of two Taiwanese competitors, Giant Manufacturing and Merida Industry, which also reported a steady growth of e-bikes sales during the first six months of this year. Last May, a Giant spokesman had announced that the company expected “a continuously robust” demand for electric bikes on ...
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Third-party sales weigh on Rapala’s revenues
Sluggish sales of third-party products distributed by Rapala VMC in Europe hit the Finnish-based group's revenues for the first half of the year. The company's sales edged down by 1 percent from the year-ago period to €141.2 million, or by 2 percent in constant currencies. Operating earnings tumbled by 25 ...
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Tacx helps Garmin to reach record results
Lifted by its recent acquisition of the Tacx brand of cycling accessories and by gains in running, Garmin's revenues for the second-quarter ended on June 29 reached a record level of $955 million, an increase of 7 percent over the year-ago quarter. The company has raised its outlook for the ...
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Fitbit’s shares tumble after poor smartwatch sales
Fitbit's stock lost as much as 18 percent of its value after the company lowered its guidance for the full financial year on disappointing sales for the second quarter of the company's new smartwatch model, the Versa Lite. Announced in March, the device is a spin-off of the Versa.Revenues from ...
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Slower growth for Thule
After a very strong start of the year, the Thule Group said that it grew at a slower pace in the second quarter. In constant currencies, the Swedish-based company's revenues grew by 3.0 percent from the year-ago period to 2,311 million kronor (€219.7m-$247.1m), hampered by currency headwinds. Its operating income ...
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Zalando improves, Asos does not
Zalando, a fashion-oriented retailer that is making a big push into the sports apparel and footwear market with its marketplace, reported a 20.1 percent increase in revenues to €1,597.3 million for the second quarter of this year. Including its marketplace, the gross merchandise volume (GMV) rose by 23.7 percent to ...
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More jerseys from Macron for basketball, football and rugby
The Italian supplier of licensed jerseys reported several sponsorship deals in the last few days. Two of them see the company involved in German basketball through new technical partnerships with the clubs of Rasta Vechta and Basketball Löwen Braunschweig.The two teams play in the Basketball Bundesliga, the highest tier of ...
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Détente on the international trade front
Three moves on the international trade front that have taken place in the last few days have given the sporting goods industry and the world economy positive signals in the direction of free trade. While the U.S. decided not to go ahead with a new set of punitive tariffs on ...
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Innovation and digitalization fuel Nike’s 11% growth
Surpassing the management's expectations, Nike reported a broad-based sales increase of 11 percent on a currency-neutral basis for the financial year ended on May 31, driven by innovations, the group's “consumer direct offense” initiative and other aspects of its strategic transformation.In reported dollars, this meant an increase of 7 percent ...
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Big growth and investments in digital
Offering differentiated consumer experiences, direct-to-consumer sales were responsible for about half of Nike's total growth in the past year, and digital sales jumped by 35 percent, driven by Nike's mobile apps. Nike says that the digital channel – its own online sales combined plus those of partners like Amazon and ...
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Further expansion internationally
Nike claims to be leading the market in the EMEA region, where its sales grew by 9 percent in constant currencies in the fourth quarter as compared to the period a year ago, when they were boosted by the men's version of the Fifa World Cup. It continues to boast ...
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Converse continues to underperform
Sales increased by only 3 percent in constant dollars at Converse last year, thanks to gains in China and on its new e-commerce platform. In reported terms, sales declined by 4 percent to $491 million in the fourth quarter, but they were flat on a currency-neutral basis, with declines in ...
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Product diversification pays off
Innovations like Max 270, VaporMax, the Max 720 and many others were responsible for 100 percent of the incremental growth in the past financial year, the management said, adding that the number of new products launched was twice has high as two years before. Brand extensions in sportswear (read: lifestyle), ...
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The future looks good
The outlook for the current financial year calls for a slightly higher increase in the high single digits than in the last one on a reported basis. Sales should also continue to go up on a currency-neutral basis, but no indication was given about the growth rate.The gross margin is ...
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Nike and Adidas pull back products and ads
The use of social networks and artificial intelligence can be tricky at times. Adidas suffered an embarrassing problem on July 1 with a Twitter campaign launched to promote its new jersey for the English Arsenal football team. It was hijacked by several users who twisted their Twitter handles to send ...
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JD Sports expands further
JD Sports Fashion's momentum keeps going. In an update, the big U.K.-based international sports retailer said it continued its strong performance after the record fiscal year that ended on Feb. 2, with encouraging growth on a same-store basis in its core sports fashion chains both in the U.K. and abroad. ...
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Governance is questioned
Peter Cowgill, the group's executive chairman, gave the sales update just before the company's annual general meeting, held on July 3, where all the resolutions on the agenda were passed. However, the board of directors said the time was appropriate now for a review of the company's corporate governance practices, ...
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Pentland keeps growing and growing
The stellar performance of JD Sports Fashion, whose revenues grew by 49.2 percent to £4.72 billion (€5.25bn-$5.88bn) in the financial year ended last Feb. 2, helped its controlling shareholder, Pentland Group, to record an overall increase in revenues of 38.9 percent to £5.1 billion (€5.7bn-$6.4bn) for its financial year ended on ...
