Latest Headlines – Page 175
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VF to spin off denim business
VF Corporation is preparing to split into two independently traded companies through the proposed spin-off of its jeans division to its own shareholders, forming a more focused outdoor, action sports and workwear business based in Colorado.The owner of Vans, The North Face, Timberland, Icebreaker and several other sports and outdoor ...
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Sports Direct buys ailing House of Fraser
After much speculation in recent months, Sports Direct International (SDI) has finalized its acquisition of House of Fraser for £90 million (€100.9m-$114.0m) in cash, which may yield synergies for both its sports and fashion retail business.A well-known and relatively upmarket feature on British shopping streets, the chain comprises of 59 department ...
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Zalando comes out of the red
Zalando managed to book a net profit of €51.8 million for the second quarter of this year, up from $47.4 million in the second quarter of 2017, after taking in a loss of €15 million in the first quarter of this year. While the operating margin fell slightly to 7.1 ...
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Netshoes withdraws from Mexico
Netshoes, the largest sports and lifestyle online retailer in Latin America, has agreed to sell its operations in Mexico to Grupo Sierra Capital, a private equity fund with investments in Mexico, the Caribbean and Central America. Based in Brazil, where it still does most of its business, Netshoes said the ...
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Decathlon and Kant expand their cooperation
All of Decathlons' new stores in Russia will be housing Kant shops-in-shops, said a Russian news agency, Fashion United, citing sources at both companies.The agency quoted Olga Padeyskaya, marketing director of Kant as saying that, although “in the very beginning nobody believed” in the joint project, the collaboration between the ...
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Sportmaster starts tagging shoes in Russia
Sportmaster, the leading Russian sporting goods retailer, has agreed to become one of the six companies participating in a pilot project of placing RFID tags on shoes sold in the country, showing the origin of the goods and certifying that they are not counterfeits.The retailer has already registered itself in ...
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Wolverine’s “way forward” is working out
Wolverine Worldwide is again actively looking for additional brands to acquire, not only in the footwear sector, but also in apparel and leathergoods, with a preference for the women's segment, where it is relatively under-represented. The multiples requested by the sellers have increased, said Blake Krueger, chairman, chief executive and ...
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Crocs closes plants, goes more digital
Boosted by double-digit growth in e-commerce, Crocs' results for the second quarter exceeded its own guidance and financial analysts' projections. They led to an improved forecast for the full financial year, with the management predicting adjusted Ebitda of $95 million and low single-digit growth in sales to at least $1,023.5 ...
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Vulcabras recovers in women’s shoes, works with Under Armour
Vulcabras Azaleia, which derives most of its revenues from the affordable Olympikus brand of sports shoes, has announced the start of negotiations for the acquisition of Under Armour's five-year-old Brazilian sales subsidiary. Under a joint licensing and operating agreement, Vulcabras will become the exclusive distributor and licensee of the American ...
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Alpargatas conducts a review after a good quarter
The parent company of Havaianas has hired an international consultancy to review the brand's strategic plan in order to accelerate its internationalization and to capture new opportunities for growth in the domestic Brazilian market. Alpargatas is also planning to appoint an executive digital director in the coming months to drive ...
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Mizuno sees drop in profits and revenues
Weaker sales in running shoes and other categories led to a decline in sales and profits for Mizuno for its first quarter ended June 30.Revenues dropped by 6.9 percent from the year-ago quarter to 42.8 billion yen (€338m-$386m), weighed down by weak sales in the running category, especially in Japan, ...
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Fila is faring well
Positioned as a leading authentic sports brand with an Italian heritage and riding on a strong retro trend, Fila has seen its revenues grow at a double-digit rate in many countries, judging from the financial report issued by the Korean owner of the Italian brand, Fila Korea, for the second ...
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Soaring sales and profit for Anta
While investing to upgrade its flagship brand, Anta Sports Products has accelerated its expansion with a sales growth of 44.1 percent to 10,553.5 million yuan renminbi (€1,341.9m-$1,521.8m) for the first half of this year, which led to an unprecedented profit for the Chinese group.The company's gross profit margin firmed up by ...
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Online retailing and young brand push Li Ning sales
Online sales and the expansion of the Li Ning Young brand were key drivers behind a sales jump of 17.9 percent to 4,712.8 million yuan renminbi (€600.5m-$685.2m) for Li Ning Company in the first six months of this year, which led to a 42 percent rise in profit attributable to ...
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China Dongxiang invests in own stores
China Dongxiang's investments in its own retail business have helped to raise the turnover of the Chinese sportswear company by 14.4 percent to 772 million yuan renminbi (€98.4m-$112.2m) for the first half of this year, but increased costs and an inventory clean-up have led to a slump in profits.The sales ...
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Canada Goose scores 58% revenue growth
Led by the direct-to-consumer channel, Canada Goose's revenues soared by 58.5 percent to 44.7 million Canadian dollars (€29.9m-$34.0m) for its fiscal first quarter ended June 30. The management mentioned “exceptional” levels of performance in its own stores for this off-peak period of the year.The wholesale revenues of the Canadian maker ...
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Iconix under pressure, SDI on board
A partnership started in February between the Umbro brand and Target stores is working out well for the Iconix Brand Group, but the whole company suffered sagging sales and profits in the second quarter.The U.S. group that holds rights to sports and fashion brands such as Umbro, Ocean Pacific (OP), ...
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Record sales and earnings for Johnson Outdoors
Thanks to strong sales of warm-weather outdoor recreation products, Johnson Outdoors posted record profits and sales for its third fiscal quarter ended June 29. In particular, the company said it recorded unprecedented growth in its flagship fishing brands, which it attributed to a focus on consumer-driven innovation.Total revenues jumped by ...
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Yue Yuen wants to become more agile
Citing intense competition and changing ordering patterns in the industry, the world's largest shoe manufacturer, Yue Yuen Industrial (Holdings) said it will continue to increase automation levels, investing in new technology and process re-engineering to enhance the efficiency of its operations.It said it would leverage its core strengths and competitive ...
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Major Russian food retailer will sell skis
Maria-Ra, one of the biggest grocery retailers in Siberia, said it plans to start selling skis and other ski equipment under its own brands in more than 1,000 stores later this year, after talking to several Russian ski manufacturers.The products are likely to belong to the budget segment of the ...
