Latest Headlines – Page 162
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Accell’s new strategies start to pay off
The implementation of the Accell Group's new strategy is starting to bear fruits. The Dutch company behind Haibike, Lapierre, Batavus, Raleigh and many other bicycle brands said that its turnover accelerated in the second half of 2018 in its core markets except in North America, where the group recorded a ...
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Dorel Sports’ results impacted by slower than expected holiday consumer demand
Dorel Industries reported that fourth quarter revenues in its Dorel Sports segment were down by 1.7 percent to US$232.7 million, but grew by around 2.6 percent after excluding the negative impact of varying foreign exchange rates and the divestments of the Sugoi and Sombrio brands in the second quarter of ...
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Hövding gains momentum internationally
Sales continue to be strong for Hövding airbags for cyclists, even outside the Nordic region. The Swedish supplier raised its sales significantly in Germany in 2018, largely thanks to new contracts with SportScheck and Globetrotter, which accounted for 8 percent of total sales during the last quarter of 2018.In an ...
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361 Degrees posts mixed results
The Chinese sports company's sales inched up in 2018, thanks to the strong contribution from the kids segment; but margins and profits were down. The group's turnover increased by 0.6 percent to 5,187.4 million yuan renminbi (€682.5m-$774.2m) for the full year. 361 Degrees blamed this slow growth on fewer replenishment orders ...
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The international trade picture is getting foggier
The next days will be decisive for the future relations between the U.K. and the European Union. The picture is changing every day. Meanwhile, many foreign companies in the sporting goods sector and others have been gearing themselves up for the worst scenario of a possible exit of the U.K. ...
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Good quarter for Nike
Nike delivered a strong third quarter for the three-month period ended Feb. 28, particularly in terms of sales growth in Europe and China. On a currency-neutral basis, the Nike brand's sales went up by 12 percent in Europe, the Middle East and Africa (EMEA) and by 24 percent in Greater ...
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More efforts on digital transformation and product innovation
Nike continued to invest heavily in its digital transformation across the supply chain, allowing the company to respond more quickly to changes in demand. It added RFID chips to products and staged faster procurement processes for raw materials, reducing lead times. At the end of the supply chain, it improved ...
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Good progress in Europe and China
The company's focus on key cities paid off particularly in Europe, where the growth was led by sportswear, Jordan and digital sales. The management claimed that Nike is now rated as the No. 1 brand in five of region's key cities.Digital sales grew by more than 60 percent in Greater ...
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A record Ebit margin for Adidas
The Adidas Group reported last week a 20 percent increase in net income to €1,709 million from continuing operations for 2018. Excluding losses from discontinued operations – which, as a result of last year's divestiture of Rockport, declined last year to €5 million from €254 million the year before – ...
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A weak fourth quarter
The company's sales growth had already started to decline in the fourth quarter of last year, when currency-neutral revenues rose by only 5 percent for the Adidas brand and the whole group. On the other hand, the group had experienced exceptional growth of 19 percent in the same period of ...
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Interesting regional developments
The management expects that the group will post a slight sales increase in Europe, where we understand that the Adidas brand has been losing market share to Nike, although Adidas is still very strong in countries like Germany and Italy. Sales in Europe, which represents close to 30 percent of ...
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Puma signs its biggest football contract
Starting in July, Puma will be replacing Nike as the sponsor of the victorious Manchester City football club and four others that it controls on four continents for the next ten years. The brand describes it as the largest deal of the kind that it has ever done. Reportedly, the ...
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Shankland will lead the Adidas Group’s operations
The 47-year-old Australian native, who has been with Adidas for 22 years, took the place of Gil Steyaert on the executive board of the Adidas Group at the beginning of this week to be charge of global operations. Steyart, a 56-year-old Frenchman who has been sitting on the board for ...
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A Slovenian CEO for TAF
Mateja Jesenek, a 51-year-old Slovenian native, will become the new global chief executive of The Athlete's Foot (TAF) in April, when the current CEO, Ingmar Kraak, leaves the company. Like him, she will be working out of Amsterdam.While she is being hired from outside the company, Jesenek is no stranger ...
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Foot Locker performs better
Foot Locker booked a 9.7 percent sales increase on a same-store basis in the fourth quarter ended on Feb. 2, well ahead of the financial analysts' consensus estimate of 4.6 percent. Digital sales rose by 29.7 percent, representing 19.1 percent of the retailer's total turnover. Sales increased at a double-digit ...
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Foot Locker invests in kids’ clothing
Foot Locker has made another strategic investment in an early-stage company, this time on Launch Kids, a children's apparel company based in New York City that operates under the trade name Rockets of Awesome. The $12.5 million investment—part of a Series C round of capital funding worth $19.5 million for ...
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Hervis reports stable sales, opens new stores
After recording increases in the previous two years, Hervis Sport reported stable sales of €520 million in 2018 from the previous year. The number of stores across various countries grew by 7 percent and their total sales area rose by 4 percent to 205,000 square meters. The Austrian-based sports subsidiary of ...
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Zalando regains momentum
Heavy investments in software, new systems and new distribution centers contributed to a decline in the operating margin to 3.2 percent last year from 4.8 percent, but the management expressed confidence that the margin will reach 13 percent sooner or later. It has set out an ambitious goal for the ...
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A rough ride for Ashley with Debenhams and Findel
The board of directors of Findel immediately rejected a proposed bid for all its shares made by Sports Direct International (SDI) on Monday, arguing that it significantly undervalued its online retail and education businesses. SDI, which started to invest in the British fashion retailer in 2015, had to make the ...
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Anta puts pressure on Amer’s shareholders
Changing the cards, Mascot-Bidco, the investment vehicle set up by a consortium of investors led by Anta Sports Products for the takeover of Amer Sports, has given 4 PM Finnish time tomorrow as the deadline for obtaining pledges for at least 90 percent of Amer's shares. It had previously extended ...
