Latest Headlines – Page 157
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Olympikus slows down
Performing less well than in the recent past, Vulcabras reported an increase in net revenues of only 2.7 percent to 299.8 million Brazilian reais (€69.0m-$77.7m) in the first quarter of this year. With a minimal contribution from the company's new distribution contract for Under Armour in Brazil, sales of athletic ...
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Pressure on profits for Yue Yuen
Profit margins continued to be under pressure for the world's largest shoe manufacturer, which is also a major distributor and retailer in China. Yue Yuen Industrial's total revenues increased by 8.4 percent in the first three months of this year to (U.S.) $2.48 billion, but the attributable net profit declined ...
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New investors for Polygiene
Håkan Lagerberg, chief executive of Swedencare, has become the biggest investor in Polygiene, the Swedish odor control company, with a stake of 7 percent. He and two other smaller investors have acquired shares in the company, which is still aiming for annual growth of between 20 and 30 percent in ...
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Infront launches a natively digital brand
Infront has launched iX.co, a digital media and solutions company aiming to connect brands and sports rights holders to fans around the world. Infront, the big international sports marketing company based in Zug, Switzerland, is part of the Dalian Wanda Group, which became a majority shareholder in November 2015. It ...
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Nike releases Impact Report for FY2018
Nike has released its Impact Report for the fiscal year ended on May 31, 2018. The report focuses on the company's 2020 targets and priorities across its value chain and for its stakeholders. Last year, among its priority issues, the company identified “Diversity and Equal Opportunity” and “Climate Change Risks” ...
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Asics announces 2018 sustainability achievements
In 2018, Asics surpassed its CO2 emissions reduction targets for 2020, two years earlier than initially planned. CO2 emissions at Asics' facilities, whose initial reduction target was of 5 percent, decreased by 19.2 percent. Meanwhile, CO2 emissions per pair of shoes dropped by 15.9 percent, surpassing the planned reduction of ...
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Pentland’s CSR report focuses on UN goals
Pentland Group has released its Corporate Responsibility Review for 2018. Pentland is the parent company of Speedo, Ellesse, Berghaus, and other brands, as well as the majority shareholder in JD Sports Fashion, which owns numerous outdoor retail chains including Go Outdoor, Blacks and Millets.Pentland notes that it has been a ...
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Adidas’ margins climb further, European sales lag behind
The Adidas Group continued to emphasize profit margins in the first quarter of 2018. Its net earnings from continuing operations went up by 16.5 percent to €631 million, and earnings per share actually leaped by 19 percent as the company continued its share buy-back program. Sales increased by only 6.1 ...
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China and Russia offset a drop in Western Europe
One of the reasons why the group's profit margins are projected to grow at a slower pace than in the first quarter for the full financial year is that the company wants to have more room to boost its sales in Europe, which were down by 3.3 percent in the ...
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Adidas extends its contract with Real Madrid, paying dearly
Adidas and Real Madrid have agreed on a new contract that extends their partnership for eight more years, through June 2028. The parties have agreed not to disclose the value of the deal. According to various sources, it is worth between €100 million and €120 million a year, but Adidas ...
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A new important partner for Intersport in China
The Suning Holdings Group, the second-largest private company in China and a major omni-channel retailer operating in various sectors, has signed a franchising agreement with Intersport International Corp. (IIC) for several provinces and municipalities in China. The company plans to open a first Intersport store in Nanjing in the coming ...
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Zalando expands its customer reach
Zalando reported that the number of active customers increased by 14.1 percent year-on-year during the first quarter of 2019 to 27.2 million, with site visits rising by 29.5 percent to 924 million. The larger customer base placed more frequent orders than before. The number of orders per active customer grew ...
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Asos is not doing as well as Zalando
Zalando saw its share price go up after already it announced that it expects to post a positive adjusted operating profit (Ebit) in the single-digit million range for the first quarter of this year, in contrast with market expectations of negative Ebit of €10 million. Meanwhile, its big British rival, ...
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New strategic investor for Netshoes
The big Brazilian e-tailer specializing in sports shoes and apparel has been losing money since it went public on the New York Stock Exchange two years ago at a price of $18 per share, consistently failing to meet its guidance. Netshoes' founder and chief executive, Marco Kumruian, and other major ...
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Centauro’s parent goes public
The change of ownership at Netshoes took place only a couple of weeks after Grupo SBF, the parent company of Centauro, went public on the stock exchange of São Paulo. Through its 150-odd Centauro stores and the related web store, Grupo SBF is the biggest sporting goods retailer in Latin ...
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Elan joins Bic Sport and other firms in a new KJK Sports group
KJK Management, an equity investment group based in Luxembourg, announced that KJK Fund III, a €250 million private equity fund launched in 2018, has completed the purchase of 100 percent of the shares of Elan. Best known in our sector for its important ski division, the Slovenian company, founded in ...
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Xtep will buy the parent of K-Swiss and Palladium
Xtep International Holdings, the Chinese sportswear group that announced in March a joint venture with Wolverine Worldwide for the sale of Merrell hiking gear and Saucony running shoes in mainland China, has agreed to buy a 100 percent stake in E-Land Footwear USA, the owner of K-Swiss, Palladium, Supra, PLDM ...
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Wolverine Worldwide sets up an Italian subsidiary
Wolverine Worldwide is doubling up on its efforts to revitalize Saucony. After its previously reported agreement with Xtep International for the distribution of Saucony as well as Merrell in China, the group has taken over the distribution of Saucony in Italy from its Italian distributor, Sportlab.It has set up a ...
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Asics posts mixed results
While 2018 was a tough year for Asics, in which its global sales fell by 3.4 percent to 386.6 billion yen (€3.1bn-$3.5bn), the company experienced a mixed first quarter through March.Despite a 16 percent sales increase in direct-to-consumer (DTC) sales, including a 56 percent jump in e-commerce, the company's global ...
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Mizuno increases profits despite weaker sales
Lower sales of running footwear, as well as a weak home market in sporting goods and golf, weighed on Mizuno's sales for its fiscal year ended on March 31. They declined by 3.9 percent from the previous year to 178.1 billion yen (€1.45bn-$1.62bn). Mizuno's gross profit narrowed by 2.3 percent ...
