Latest Headlines – Page 197
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Foot Locker’s abrupt drop raises questions
Are traditional brick-and-mortar sports retailers like Foot Locker losing market share to sneaker shops or pure players in the e-commerce space like Amazon or Zalando? Or is the strong athleisure trend of the last few years suddenly losing steam, at least in the athletic footwear retail sector, where Foot Locker ...
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Good growth for Peak Performance
Peak Performance raised its revenues by 11.9 percent in constant currencies during the fourth quarter of IC Group's financial year, ended June 30, leading to growth of 10.0 percent on a reported basis to 121 million Danish kroner (€16.3m-$19.4m) for the period. The brand generated an operating loss in the seasonally ...
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New Wave keeps growing
The New Wave Group, the Swedish company behind Craft, posted a 12th consecutive quarter of growth, with sales for the three months ended June 30, 2017 jumping by 9 percent to 1,372 million Swedish kronor (€143.8m-$169.1m), or by 5 percent excluding currency fluctuations. Operating profit rose by 10.0 percent over ...
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Billabong claims to be turning around
Billabong International recorded heavy losses for its fiscal year ended June 30, 2017, after writing down the value of several of its brands. It posted a net loss of $77.1 million Australian dollars (€51.3m-$61.3m), compared with a net loss of A$23.7 million a year earlier. But the company said that it ...
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Globe blames a downturn in skateboard market for lower sales
Globe International saw its revenues for its financial year ended June 30 decline by 7 percent to 140.5 million Australian dollars (€94.2m-$111.2m), or by 5.0 percent in constant currencies.The drop was blamed on a downturn in the market for skateboard hardgoods in the Northern Hemisphere, particularly in Europe and in the ...
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Mizuno returns to profits despite lower sales
Weak sales in Japan and unfavorable exchange rates caused Mizuno's revenues to decline by 5.1 percent to 45,900 million yen (€358.5bn-$420.9bn) in its first fiscal quarter, ended June 30. They decreased by ¥1.5 billion (€11.7m-$13.7m) due to the depreciation of several currencies against the yen.However, the Japan-based company managed to ...
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Alpargatas faces difficulties in Brazil
Alpargatas' global sales, which now stem mainly from its Havaianas brand of sandals and a license with Mizuno, fell by 15.1 percent to 859.6 million reais (€232.6m-$272.4m) in the second quarter, weighed down by a challenging retail market in Brazil, where the group's sales dropped by 21.9 percent to R$445.7 ...
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Olympikus drives Vulcabras’ improved results
Vulcabras, the Brazilian company that owns the Olympikus brand of sports shoes, continued to improve its results in the second quarter ended June 30, with a big jump in the net profit to 77.6 million reais (€20.7m-$24.7m) from R$2.3 million in the same period a year ago.The company's total net ...
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Crocs will appeal to protect its classic clog design
The U.S. Patent & Trademark Office (USPTO) announced a few days ago a third verdict invalidating the D517789 design patent – known also as the ‘789 patent - issued to Crocs in 2006 for its molded Classic Clog, ruling that it was anticipated by a prior design published a year ...
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Acushnet lowers its full-year sales guidance
Acushnet has revised down its sales guidance for the full year following a drop in revenues for the second quarter of 2017, mainly caused by weak sales of Titleist golf balls and clubs. Sales were down by 7.6 percent to $428 million, or by 6.6 percent on a constant-currency basis. ...
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Fila moves upmarket, becomes more profitable
Ten years after acquiring the brand, Fila Korea and its licensees around the world are trying to position the former Italian brand in a higher segment of the sports lifestyle market, notably by banking on its heritage through collaborations with designers and celebrities like other big brands of sports shoes. ...
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Lululemon’s results top expectations
Lululemon Athletica continues on its upward trend, bouncing back from a difficult 2016, with results for the three months to July 30 largely exceeding analysts' expectations. Due to the reorganization of its Ivyva business, net earnings declined by 9.1 percent to $48.7 million, still exceeding the level that analysts had ...
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Shoe production drops, sales rise at Yue Yuen
Despite a decline in production volume and average prices, Yue Yuen Industrial has raised its turnover by 3.9 percent to the equivalent of $4,448.2 million for first half of this year, supported by a slight increase in athletic shoe sales and the expansion of its Chinese retail business.Yue Yuen's footwear ...
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Alibaba posts better-than-expected results
The Alibaba Group reported better-than expected revenues for its first fiscal quarter ended June 30, thanks to a strong performance in China. Its total sales increased by 56 percent over the year-ago quarter to 50,180 million yuan (€6.4bn-7.5bn). The Thomson Reuters' consensus was RMB 47,700 million (€6.1bn-$7.2bn).The company's operating margin ...
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More respect for IP rights in China
Just as the U.S. Administration opened an investigation into China's protection of U.S. intellectual property rights, New Balance won a case in a Chinese court in Suzhou against three defendants accused of manufacturing and selling shoes with copies of its slanting N logo. Recognizing the “unique decoration rights” held by ...
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Li Ning continues to improve
After its return to profit from continuing operations last year, Li Ning Company continued to rebound with a significant improvement in the performance of its stores for the first half of this year.The Chinese sports company's sales moved up by 11.1 percent to 3,996.0 million yuan renminbi (€508.3m-$599.8m) for the six ...
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Anta reaps the benefits of brand and retail investments
Anta Sports Products is continuing to reap the benefits of its multi-brand and multi-channel strategy, with a sales rise of 19.2 percent to 7,323.2 million yuan renminbi (€930.1m-$1,099.4m) for the first half of this year, fueled by increased demand for running and football products.Due to the expansion of its retail business ...
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Xtep sees sales and earnings dip as it restructures
Xtep's sales were down for the six months to June 30, as the Chinese company restructured its business to focus more on functional products and profitable distribution, contributing to improving the gross margin.The company said it has streamlined the management of its operations in terms of product development, branding, marketing, ...
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361 Degrees posts a 22.5% Ebit margin
361 Degrees, which has recently entered the European market, saw its gloabl revenues for the first six months of the year rise by 9.5 percent over the year-ago period to 2,791 million yuans renmimbi (€355.4m-$419.0m).The Chinese sportswear manufacturer said it benefited from higher orders placed at its own trade fairs ...
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361° expands in Europe
Founded in 2003, the Chinese sports brand has already become the No. 2 sports brand in Asia. It still has a minimal presence in Europe, but it is expanding strongly in the specialized running shoe retail market with the help of new agents and distributors. The number of points of ...
