Latest Headlines – Page 167
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Fast-growing Brooks changes Nordic distribution
Oy Patrol Trading, a former distributor of Asics in Scandinavia and the former owner of One Way Sport, has taken over the distribution of Brooks Running in the Nordic countries through a merger. It has taken over majority control of Brooks Scandinavia from Erik Nystedt, a former country manager of ...
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Brooks continues to run very fast
Brooks Running raised its global sales by 26 percent to $644 million, with footwear sales rising by 28 percent to an indicated level of $593 million in 2018, judging from a report released by its parent company, Berkshire Hathaway on its growth. Apparel sales went up to an indicated $50 ...
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Lululemon’s shares soar after new guidance
Lululemon Athletica saw its share price jump by 7 percent after the Canadian group raised its forecast for profits and revenues for the last quarter of its financial year, ending on Feb. 3. It now expects to report revenues in a range of $1,140 million to $1,150 million for the ...
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Crocs is still outperforming, wants to do better
With its financial turnaround virtually completed, Crocs is considering new initiatives in terms of product development and retailing, including the further development of e-commerce, to help reach a double-digit operating margin going forward, while keep gross margins slightly above 50 percent of sales and operating expenses below 40 percent.The company ...
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More fashion brands embracing the sports look
Ermenegildo Zegna, the premium Italian brand of menswear, has already put out very protective and expensive overcoats with a good design, using technical materials like Thermore. It is now going for a sportier look in its branded clothing as well as in its footwear, trying to be more original than ...
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Two new sports fabrics fairs are planned in Portland
Première Vision, the world's leading organizer of trade shows for creative fashion materials, is launching a new event in Portland, Oregon, on Aug. 14 and 15. The new Première Vision Sports show will offer seminars, color forecasts and a specialized offer of fabrics, components and designs for high-performance clothing and ...
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Fesi calls on Europe to complete the FTA with Vietnam
The Federation of the European Sporting Goods Industry (Fesi) and other organisations have written to the president of the European Council, Donald Tusk, to urge him to move forward with a proposed free-trade agreement between the EU and Vietnam.On Oct. 17, the European Commission approved the submission of the EU-Vietnam ...
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Arc’teryx starts gear-lending program
Arc'teryx, the fast-growing Canadian outdoor brand of the Amer Sports group, is launching an initiative across its North American stores and one in London that gives customers the opportunity to borrow apparel and gear for field testing.The program is meant to allay fears that the product and its materials might ...
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The EU is probing Nike’s tax treatment
The European Commission announced yesterday that it had opened an in-depth investigation into whether the tax rulings granted by the Dutch government to Nike's European operations may have given the group an unfair advantage over its competitors, in breach of the European Union's rules on state aid. Pointing out that ...
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Nike’s digital disruption paid off in Q2
Crediting the efforts being made to execute its Consumer Direct Offense program, Nike reported better-than-expected results for the second quarter ended on Nov. 30. Revenues grew by 14 percent on a currency-neutral basis across the group, with increases of 14 percent for the Nike brand and 6 percent for Converse. ...
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Nike has many outlet stores in the U.S. and Northern Europe
According to the company's two most recent annual reports, Nike added 40 stores worldwide between the end of its financial year in May 2017 and the end of the subsequent fiscal year in May 2018, for an increase of 3.5 percent. The total store count stood at 1,182 by May ...
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Foot Locker invests in Super Heroic
With a Series Seed II investment of $3 million, Foot Locker has acquired a minority stake in Super Heroic, a maker of children's playground shoes. Foot Locker will become a board advisor to Super Heroic, and the Kids Foot Locker chain will be the first brick-and-mortar retailer of Super Heroic ...
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Asian alliance for Signa
In a significant new strategic move, the Signa Retail group has found two strong retail partners in Asia to consolidate and further internationalize its specialized online sports retail operations, grouped under its Signa Sports United (SSU) subsidiary. The new partners are Aeon Co., the biggest retailer in Japan, and Central ...
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XXL reports on major Q4 losses and its CEO’s exit
On Dec.18, XXL announced disappointing fourth quarter results and the departure of its brand-new chief executive, Ulf Bjerknes. The news sparked an immediate fall in the Norwegian sports retailer's stock price as well as a press conference the next day to explain the bad results.In a trading update, XXL revealed ...
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Footasylum issues a profit warning, due to high discounting
Footasylum says it faced greater than expected promotional and clearance activity in the 18 weeks to Dec. 29 due to difficult trading conditions, prompting the British sports lifestyle retailer to issue a profit warning. This is in line with warnings made by other U.K. retailers like Asos and Sports Direct indicating ...
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Outnorth merges with Fjellsport
Two strong Nordic e-commerce players, Fjellsport from Norway and Outnorth from Sweden, are merging. Both Fjellsport and Outnorth are leaders in their respective local markets, and the merger is expected to drive further consolidation of their position in the outdoor segment, although Outnorth has a wider range of products.Fjellsport and ...
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New owners, new team for flash-sale e-tailer
Born in 2010 and based in the Southern French city of Montpellier, Private Sport Shop (PSS) claims to have become the only leading destination in Europe for flash sales of discounted performance-oriented sports products, contributing the bulk of an online turnover that grew by about 20 percent to around €100 ...
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Premium football clubs get more, want more
Adidas and Juventus, the high-ranking football club of Turin, Italy, have revised and extended their partnership. The current deal was going to run from 2015 to 2021, over six seasons. The new deal will go into effect in 2019 and run for eight seasons until 2027.Adidas will serve as technical ...
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Le Coq’s owner saves a French shoe plant
Compagnie Vosgienne de la Chaussure (CVC), the French shoe factory sold by the Vivarte group to a German investment fund at the end of 2016, has found a new investor, just as it was about to be liquidated. Petrus Finance, a Swiss holding company that indirectly controls Le Coq Sportif, ...
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Elan changes hands again
A new €250 million private equity fund focusing on the Balkan region and the Baltic countries launched by KJK Management of Luxembourg in 2018, called KJK Fund III S.C.A. SICAV-RAIF, has agreed to acquire all the shares of the Elan group, whose snow sports equipment operations continue to perform well. ...
