Latest Headlines – Page 164
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Footasylum returns to its roots
JD Sports Fashion has acquired a stake of 18 percent in 8,676,878 shares of Footasylum, the U.K.-based retailer of sneakers and sports apparel. JD announced first that it had bought 8.3 percent of the shares, but then Footasylum said that JD's stake had risen to more than 18 perent. ...
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Decathlon grows more slowly, changes policies
Admitting that it had made some mistakes, which are now being corrected, Decathlon announced a major slowdown in its growth at a press conference held in Lausanne last Friday, the first to have been held outside France. It also gave for the first time some data about its bottom line, ...
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New initiatives in Switzerland and elsewhere
Just before the conference in Lausanne, journalists were treated to an interesting visit to a former Athleticum store that has been converted to the Decathlon format since the shareholders of Decathlon and those of the Swiss chain Maus Frères formed a joint venture for the Swiss market (SGI Europe Vol. ...
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XXL posts disappointing results
The leading sports retailer in the Nordic countries said its sales volumes in the fourth quarter were lower than expected in all the markets where it operates. XXL's interim management admitted that the group ended up losing money in November because of poor execution. The weather was not helpful either. ...
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Intersport Germany’s sales down in 2018
At this year's Ispo show in Munich, Intersport Germany reported the first drop its retail sales in many years, which no doubt had an effect on the relatively weak performance of Intersport at the international level (see our previous issue). The retailers affiliated with the German-based group recorded retail sales of €2.85 ...
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Sport 2000 Germany replaces kids’ skis
Sport 2000 performed a little better than Intersport in Germany last year. Its German retail organization reported at Ispo that it would be launching a new “kids club” from the next autumn/winter season in cooperation with more than 120 retailers. As a result, customers will be able to trade in ...
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Foot Locker invests in the secondary sneaker market
Acting through a subsidiary, Foot Locker is investing $100 million in Goat Group, an international marketplace for second-hand sneakers that operates through e-commerce websites, mobile apps and its own retail stores. The two companies will be pooling their resources on digital and physical retail platforms to create “exclusive customer experiences.” In ...
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Foot Locker moves Lew Kimble back to Asia
Foot Locker has announced a realignment of its operating model into three geographic regions: Europe, Middle East and Africa (EMEA), Asia-Pacific and North America. In redistributing resources among the company's international businesses, the move will support a primary goal, which is to expand business in Asia.In February 2018, according to ...
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Strong year-end finish for Puma
A 20.1 percent currency-neutral jump in its revenues in the fourth quarter led the Wild Cat to book a 17.6 percent increase for the full 2018 financial year, building up to a total turnover of €4,648 million. Translated into dollars, the annual tally of $5,223 million came just above that ...
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Marketing and products
Together, marketing and retail investments absorbed 20.0 percent of Puma's total turnover last year. The marketing spend was kept at between 11.0 and 11.5 percent of sales, and Puma has launched new initiatives on this front as sales have been accelerating. In commenting on the strategies behind its results last ...
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Focus on Asia
Puma's sales grew last year by 9.4 percent to €1,800.3 million in the EMEA region, with an increase of 11.4 percent in local currencies. The biggest growth rates were recorded in France, Spain, the U.K., Russia and Turkey.In the Americas, sales went up by 7.9 percent to €1,612.5 million in ...
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A cautious outlook
Following its traditional conservative tone, Puma is forecasting an increase of only around 10 percent in constant currencies for the present year, although its year-end inventories have gone up at a higher rate in view of higher orders for the first quarter. A stronger momentum is expected in the third ...
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Better-than-expected results for Under Armour
Boosted by strong international sales and a vast restructuring plan undertaken in 2017 after a series of weak results, Under Armour is turning around, posting results for the fourth quarter that topped its own guidance.The company identified cutbacks and investments that raised restructuring and related charges to $183 million throughout ...
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Asics had a tough year
Asics' global sales fell 3.4 percent to 386.6 billion yen (€3.1bn-$3.5bn) in 2018. The operating margin declined to 2.7 percent from 4.9 percent in the previous year, and extraordinary costs led the company to suffer a ¥20.3 billion loss (€162.1m-$182.0m), compared with net earnings of ¥12.9 billion in the prior ...
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Asics appoints new managers in Europe and the U.S.
The weak results prompted the group to introduce a new, category-led organizational structure with new managers in the EMEA region for Running, Core performance sports and Sport style. The management hopes this will also create greater alignment and efficiency through a more consolidated commercial structure.The new European category organization will combine ...
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Skechers passes the $1 billion quarterly mark
Fueled by its uninterrupted international growth, Skechers has reported a sales increase of 11.4 percent to $1,080.8 million for the fourth quarter ended on Dec. 31, including a gain of 13.7 percent in local currencies. While the company's total wholesale and retail sales outside the U.S. went up by 17.9 ...
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L-Fashion breaks up with Li-Ning, takes over Dachstein
The L-Fashion Group has agreed to stop distributing the Chinese sports brand in the 11 European countries covered by a contract from the end of this year, says Vesa Luhtanen, chief executive of the Finnish-based company, confirming in part a report in sport-guide.com. The agreement with Li Ning Company, which ...
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Powered by Peak Performance, outdoor lifts Amer’s results
The Outdoor segment of Amer Sports, which also includes winter sports equipment and sports instruments, had the strongest performance in the group during the critical fourth quarter. Segment sales grew by 14 percent in euros to €574.0 million and by 13 percent in local currencies, generating 6 percent higher adjusted ...
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Ball sports and fitness performed less well
In terms of local currencies, quarterly sales increased by one percent in Amer’s Ball Sports division, led by Wilson, and by 9 percent in the Fitness division, led by Precor. In reported euros, the Ball Sports segment grew by just 3 percent to €167.7 million in the fourth quarter. It ...
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A stellar year for Columbia
Columbia Sportswear managed to pull off record results for 2018, while making substantial investments in demand creation and other strategic priorities. The growth was broad-based across its brand portfolio and geographic regions, with improvements in both the wholesale and direct-to-consumer (DTC) distribution channels.In the seasonally important fourth quarter, the company's ...
