Latest Headlines – Page 192
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Netshoes shows improvement
The world's biggest pure e-commerce player in the sporting goods sector remained in the red in the third quarter and the first nine months of this year. It reported net losses of 30.3 million Brazilian reais (€7.9m-$9.3m) for the latest quarter and of R$120.6 million (€31.4m-$37.0m) for the nine months. Excluding extraordinary ...
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Amazon launches private label activewear
Amazon has gone ahead with the launch of its private labels for sports products, with three brands at three distinct price points – at least one of them at price levels in the same range as some of the international brands sold by the online retailer.The three brands include Goodsport ...
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Alibaba breaks new records
Alibaba hit a new record with its Singles Day shopping festival on Nov. 11, generating sales of $25.3 billion, 40 percent above the score reached a year ago. The event is a much bigger replica of the Black Friday and Cyber Monday promotions that are becoming common in the Western ...
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Zalando posts a loss as sales rocket, investments continue
Zalando recorded a net loss of €11.1 million for the third quarter, compared with net income of €5 million for the year-ago quarter. The adjusted operating profit (Ebit) before non-operating one-time effects fell to €400,000 from €19.5 million.The company had warned last month that it might post a loss in ...
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New management for Germany’s 21sportsgroup
Henner Schwarz has taken the helm at 21sportsgroup, a German sports retailer that operates both online and physical stores. The promotion came after the founding team of the online platform, Joerg Mayer and Michael Burk, resigned at their own request, citing their desire to undertake new businesses opportunities. Mayer was ...
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Bid by Karstadt’s owner to bag rival Kaufhof
Hudson's Bay Company (HBC), the owner of Galeria Kaufhof department stores in Germany, has reacted with circumspection to a bid reportedly worth about €3 billion from Signa. The Austrian group already owns Karstadt, the leading competitor for Kaufhof, and both department store groups are significant players in the German sports ...
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Accell restructures in North America
The disruption of the U.S. sporting goods retail landscape, which is also affecting Dorel Sports (see the related article in this issue), has led the Dutch-based cycling group to scale down its exposure to the multi-sport channel in North America as the company goes under the management of a new ...
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A weak quarter for Dorel Sports
Dorel Sports posted a disappointing quarter, with revenues for the three months ended Sept. 30 tumbling by 18 percent from the year-ago quarter to $45.2 million. Organic revenues fell by 19 percent when ignoring currency fluctuations.The company blamed this performance on the continued weakness in the global bicycle market, especially ...
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Halford's bike sales go up, margins decline
Halfords' shares dropped by 2.4 percent after the British retailer posted underlying pre-tax earnings for its first half-year that were off by 9.8 per cent from the year-ago period to £36.8 million (€41.1m-$48.4m), weighed down by currency headwinds. The company estimates that it incurred an extra cost of sales of ...
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An improved U.S. golf market helps Acushnet
Acushnet's sales advanced by 2.3 percent in the third quarter to $347 million, driven primarily by the launch of the company's new Titleist 718 golf irons and 818 hybrids. On a constant-currency basis, sales were up by 2.9 percent. The company's management said it was particularly encouraged this quarter by ...
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Acushnet helps Fila to improve margins
The consolidation since late last year of Acushnet, a company in which it now owns 53 percent of the shares, led Fila Korea to book a huge increase in revenues to 569.2 billion Korean won (€440.2m-$519.0m) in the third quarter from KRW 175.5 billion in the year-ago period. It also helped ...
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Lower margins in Brunswick’s fitness segment
The operating margin of Brunswick Corporation's fitness division, which is led by Life Fitness, fell to 8.0 percent in the third quarter ended Sept. 30 from 12.2 percent in the same period a year ago. It remained depressed also for the first nine months of the year, down to 7.7 ...
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Nautilus lowers full-year outlook, shares tumble
Nautilus' revenues gained 9 percent to $278.4 million in the third quarter. The Retail segment saw sales grow by 15.8 percent to $53.5 million, reflecting strong seasonal sell-in with key traditional and e-commerce partners, partially offset by weakness in specialty and commercial customers. The gross margin in this segment advanced ...
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Better results for Crocs
Although Crocs' revenues for the third quarter were off by 1.1 percent from the year-ago quarter, down to $243.3 million, they were above the top end of the company's revenue guidance, exceeding analysts' expectations. Income from operations improved to $2.7 million, as compared to last year's loss of $1.2 million.The ...
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Oberalp pulls out of the Ispo show
Repeating what it had done at the OutDoor show in Friedrichshafen last June, the Italian Oberalp group has confirmed its decision to stop exhibiting the ranges of its Salewa and Dynafit brands at the Ispo Munich show, investing instead in a big international sales meeting. Like Amer Sports, which is ...
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Paradise Papers show Nike paid less than 3% tax on European sales
Placing the spotlight on Apple, Nike, Whirlpool and other multinational companies, the International Consortium of Investigative Journalists (ICIJ) has discovered that they have been able to avoid paying some €60 billion worth taxes on revenues generated in Europe by using a variety of tax loopholes and tax havens.Going through millions ...
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Adidas outperforms in North America
The Adidas Group's expansion has been hampered by weakening retail trends in Europe and infrastructure bottlenecks in North America in the third quarter, leading to a sales increase at the lower end of its projection, but the company still delivered ample rises in sales and profits.The German group's turnover jumped ...
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Adidas appoints three European country managers
After the reshuffle implemented in the Adidas Group's European management structure nearly two months ago, the company has appointed three of its own staff as country managers in France, Iberia and Italy.Nicolas Favre has taken over at the start of this month as country manager in France. He joined the ...
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Asics sales under pressure
Asics has seen its sales dwindle in Europe as well as the Americas and Japan in the nine months until September, leading to a substantial decline in profits for the Japanese running specialist.The company's sales landed at 310,292 million yen (€2,351.3m-$2,736.8m) for the three quarters, which was a decline of 0.7 ...
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Asics Europe rejigs European management
Asics Europe is making rapid strides with its strategy to transform its distribution and retail business, which has led to a string of management changes to reinforce its focus on key accounts.The overhaul of the European sales organization transpired after the Japanese running specialist reported a sales decline of 6.6 ...
