Latest Headlines – Page 170
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Fesi calls for more concrete actions to promote sports within the EU
The Federation of the European Sporting Goods Industry (Fesi) is calling EU Member States to include sport and physical activities as a priority in sectors that are not principally defined as sport but where the contribution of sport has nevertheless been widely demonstrated. These areas include, for example, health, education, ...
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Big changes at Fesi
The general assembly of the European Federation of the Sporting Goods Industry (Fesi) has approved all the proposals put forward by its board of directors to modernize the organization and to make it more transparent and representative of the sector.Only companies whose focus is on sporting goods and their federations ...
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Karstadt and Kaufhof will push sport
Karstadt and Kaufhof are planning to pool their purchasing operations in the sporting goods sector and to boost their presence in the sporting goods market, according to reports in Textilwirtschaft that could not be confirmed by the time of going to press.The reports came out while the German Cartel Office ...
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Gresvig has a new CEO
After XXL ASA (see our latest issue), another big sporting goods retailer is changing management in Norway. Lars Kristian Lindberg has taken over as chief executive of Gresvig, the Norwegian retail group that owns the G-Sport and G-Max franchises and is the national licensee of Intersport.Lindberg replaces Pål Heldrup Rasmussen, ...
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The weather impacts Zalando
Zalando's management blamed the protracted hot summer weather for a slowdown in its growth to a rate of 11.7 percent during the third quarter. It added that it will do its best to return to its longer-term target of annual sales growth of 20-25 percent during the fourth quarter, but ...
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Adidas is performing well globally
The Adidas Group is predicting a global sales increase of between 8 and 9 percent in local currencies for the current financial year, down from a previous forecast of 10 percent, due to continued lower-than-expected sales results in Western Europe. However, it has revised upwards its expectations for profitability, predicting ...
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More signs of fatigue for Adidas in Europe
After a strong rally between 2015 and 2017, the Adidas brand has performed so far this year less well in Europe generally than Nike, Puma or Under Armour. In the third quarter, its sales in Western Europe were off by one percent in euros and by two percent in constant ...
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New calls for an end to discrimination in the U.S.
Taking their cues from their peers at Nike, who led to the dismissal of Trevor Edwards and other high-ranking executives earlier this year, some employees of Adidas and Under Armour in the U.S. have called for better treatment of women, ethnic minorities and people of color in the last few ...
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Champion grows by 30%
In the third quarter ended on Sept. 29, Champion's global sales increased by 30 percent, with growth of 40 percent in local currencies outside the mass channel, after a 33 percent increase in the same period a year ago. They reached a level of $1.2 billion for the trailing 12 ...
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Fila grows strongly
Fila Korea reported a 28 percent increase in total revenues to 725.9 billion Korean won (€562.9m-$644.3m), including the results of Acushnet, in which the group has held a 53 percent stake since 2016. Sales of the Fila brand shot up by more than 50 percent in the domestic Korean market ...
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Titleist golf clubs and balls drive Acushnet’s results
Acushnet posted another set of strong results for the third quarter, thanks to strong sales of Titleist golf clubs and balls, particularly the newly introduced AVX premium performance golf balls. The company said that Titleist Pro V1 golf balls continue to lead the field, accounting for 73 percent of balls ...
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Asics posts disappointing results
Sluggish sales in the U.S. and a clean-up of the distribution in Japan dragged down Asics' sales in the third quarter of the year, and its profitability was further reduced by investments in its own retail business.The Japanese group's quarterly revenues were down by 4.7 percent from the year-ago quarter ...
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Asics Europe’s profits decline
Asics suffered a decline in profits in Europe, the Middle East and Africa (EMEA) for the first nine months of this year, but the company said that it has been making rapid progress in priority areas.As reported by the Asics group, the company saw its income tumble by 33.5 percent ...
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European sales stand out in a weak quarter for Mizuno
Weaker sales of sporting goods and golf in Japan led to lower sales and profits for Mizuno during the first half of its fiscal year, which will end next March 31. However, the company managed to turn things around in Europe, as indoor sports such as handball and volleyball boosted ...
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Brooks runs fast
The Brooks Running Company is growing faster than the market on a global basis and in certain regions. Without giving any precise sales figures, the American company says its total revenues went up by 29 percent in the first nine months of this year.Footwear sales jumped by 32 percent, with ...
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Brooks regionalizes its European sales structure
To help support its double-digit growth and create more strategic alignment across its European business, Brooks Running has divided it into three commercial territories, each with its own leader.Two company veterans, Hamish Stewart and Bastian Huebschen, will be in charge of the Northern territory (the U.K. and the Benelux countries) ...
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Crocs makes a surprising profit
After reporting better-than-expected earnings for the third quarter, led by strong demand for its clogs and sandals, Crocs has raised its guidance for the full year. The company's shares boomed after the announcement, rising by more than 9 percent.Net income rocketed from $1.6 million in the third quarter of 2017 ...
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Wolverine rides higher
The divestiture of Sebago and the military business caused a 3.9 percent decline in sales at Wolverine Worldwide, down to $558.6 million, in its third quarter ended on Sept. 29. On a comparable basis, sales inched up by 0.5 percent, but they were up by 1.5 percent excluding the leather ...
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Canada Goose steps into footwear
The fast-growing Canadian brand of outerwear announced earlier this month a definitive agreement for the acquisition of another Canadian company, Baffin Footwear & Apparel, indicating that this will “ultimately” help it to develop its own line of Canada Goose cold-weather footwear.In addressing financial analysts to comment on its spectacular results ...
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Booming Canada Goose raises its outlook
Canada Goose has upgraded its guidance for the full financial year after reporting stronger-than-expected results for its second quarter ended Sept. 30. It now predicts that its total revenues will increase by at least 30 percent for the year, up from the previously forecasted growth of 20 percent, with Baffin ...
