Latest Headlines – Page 179
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JD pursues European expansion
JD Sports Fashion is on track to deliver a financial performance aligned with consensus market expectations for the full fiscal year ending in February 2019, bolstered by continued expansion of its store network outside its home market.The update was provided by Peter Cowgill, the British retail group's executive chairman, at ...
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Footasylum’s shares tumble
Footasylum's shares crashed after the British sports fashion retailer reported a robust performance accompanied by a profit warning a few days ago. While its underlying earnings increased by 12 percent to £12.5 million (€14.1m-$16.4m) in the year to Feb. 24, the retailer predicted that they would grow more modestly in the ...
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Mixed fortunes for SDI’s strategic investments
Sports Direct International (SDI) has offloaded its interest of 19.3 percent in The Finish Line, just after the closing of the U.S. sports retailer's acquisition by the JD Sports Fashion group, its rival in the European and international sports retailing sector.It remains unclear what were the profits from the sale, ...
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Strong results for Pentland
Pentland Group reports a 14 percent increase to £376 million (€424.2m-$493.4m) in its operating profit before amortization of intangibles and extraordinary items for the year ended Dec. 31. The net value of its assets went up by 22 percent to £1,276 million (€1,439.6m-$1,674.3m).Total group revenues rose by 25 percent to £3.6 ...
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Swedish investors buy Henri Lloyd
Henri Lloyd, the British brand of sailing and lifestyle apparel, has been bought out of administration (a British form of receivership) by a subsidiary of Aligro Group, a Swedish investment firm, in a deal that entails 128 job losses as well as the closure of four stores, concessions and the ...
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Top management changes at VF
Kath Smith, the seasoned executive who replaced Arne Arens as vice president and general manager for The North Face in Europe, the Middle East and Africa (EMEA) in March of last year, has informed us that she plans to leave the company and retire sometime next month. A replacement had ...
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Canada Goose posts a revenue increase of nearly 50%
Canada Goose reported a revenue increase of 46.4 percent to C$591.2 million (€384.6m-$447.1m) for its fiscal year ended on March 31, as compared to fiscal 2017. On a constant-currency basis, the revenues increased by 47.7 percent. The company said the performance in fiscal 2018 was exceptional across all growth strategies ...
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Russian banks drive up the domestic demand for sports goods
On the occasion of the 2018 Fifa World Cup being played in Russia, both state-owned and private banks started issuing special credit cards to customers that include a voucher for discounts of up to 20 percent on the purchase of products in the stores of some big Russian sport retailers ...
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Rip Curl invests in European retailing
Through the first half of this year, Rip Curl will have opened four new stores in Europe as part of a strategy to invest in directly operated retail facilities and in functional action sports products.After the closure of a handful of unprofitable stores in recent years, Rip Curl boasts a ...
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Intersport goes omni-channel in China
With the help of the Alibaba Group, one of Intersport International Corporation's three licensees in China is providing customers with a convergence of online and offline shopping in one of Intersport's 24 stores in China. Intersport says it's the first megastore for sports and fashion products using the New Retail ...
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Intersport Germany's CEO resigns
Kim Roether is preparing to stand down by the middle of June as vice-chairman of the board at Intersport International Corporation (IIC) and chief executive of Intersport Deutschland, citing personal reasons.An assembly of Intersport staff members was informed earlier this week about the resignation. Roether has been on the management ...
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With China in mind, Rossignol gets a new investor
IDC Capital, a New York-based investment fund that has already made many important investments in Chinese companies, has acquired a stake of nearly 20 percent in the Rossignol Group. One of the goals is to help the French company to optimize its penetration of the growing Chinese market for winter ...
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Fischer buys One Way Sport, Asics expands in the Nordics
Fischer Sports has acquired the trademarks, patents and other intellectual property rights of One Way Sport, a major Finnish-based producer of cross-country ski poles that diversified into many other sectors during the 14 years of its existence. Using its know-how in the use of composite materials and its international sales ...
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Head grew by 4% in 2017
Head has reported that its total sales grew last year by 4.0 percent to €428.1 million, mainly due to higher revenues in the group's winter sports and diving divisions, generally in line with overall market trends. As previously reported in SGI Europe, the group's sales in the winter sports sector ...
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Babolat invests in China
Babolat has set up a new subsidiary in Guangzhou and is making other investments to push its presence in the big market for badminton racquets in China and the rest of Asia, which is dominated by Yonex.Babolat is still the number one brand in the declining Japanese tennis market, and ...
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Yonex grows more in tennis than in badminton
Yonex' sales rose by 1.9 percent to 62.2 billion yen (€477.7m-$565.2m) for the financial year ended March 31. Sporting goods sales increased by just over one percent in Japan and China. The company's comprehensive net income fell by 17 percent to ¥2.26 million (€17.4m-$20.4m). Excluding the foreign exchange effect and ...
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Prince regains some ground in Europe
The Prince brand has been regaining some ground in the European market in recent months, according to its management, as the brand's latest European licensee has started to restructure retail distribution with a focus on performance products.The license for the Prince brand for Europe, the Middle East and Africa (EMEA) ...
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Lacoste and Tecnifibre work on synergies
Lacoste is working together with Tecnifibre, the French tennis specialist that it bought last October, to develop interesting synergies in the areas of product development, distribution and sports marketing for the benefit of both brands.With sales of more than €2 billion, Lacoste is much bigger than Tecnifibre, which had sales ...
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Fusalp goes through a capital increase
Fusalp, the iconic French skiwear company acquired by members of the Lacoste family five years ago, has opened up its equity to new investors who have acquired 12 percent of the shares through a capital increase. The proceeds are due to be reinvested to help the brand to expand into ...
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Foot Locker performs better than expected
Foot Locker reported a drop in net income to $165 million in the first quarter ended May 5 from $180 million in the year-ago period, but this included an extraordinary charge of $12 million related to a pension issue. The gross margin was off by 1.1 percentage points, down to ...
