Latest Headlines – Page 203
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Adidas sells TaylorMade to a private equity firm
The Adidas Group has finalized an agreement to sell TaylorMade Golf for $425 million to KPS Capital Partners, a U.S. private equity firm. Adidas bought the company in 1997 as part of its acquisition of Salomon, the French ski equipment maker, at a price equivalent to about €1.2 billion for ...
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Adidas strides ahead
The Adidas Group continued to zoom ahead in the first quarter of this year, with an ample sales rise and a sharp improvement in operating profit margin, despite pressure in the Russian market and a decline in football apparel sales.The Adidas group's turnover was up by 18.9 percent to €5,671 ...
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Sales dip after strategic adjustments at Asics Europe
The decision to adjust the distribution of iconic footwear by Asics in European markets has led to an underlying sales decline of 7.5 percent for the Japanese brand in Europe, the Middle East and Africa (EMEA) for the first quarter. But the company points out that it fits with the ...
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Asics declines in its largest markets
Underlying sales declines for the Asics brand in Europe, the Americas and Japan led to a sales decline of 4 percent to 113,052 million Japanese yen (€913.3m-$1,018.6m) for the group in the first quarter, but Asics is anticipating a recovery in the second half to end the year with a sales ...
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Zalando tests GPS-assisted deliveries
Zalando continues to be at the forefront of innovation in e-commerce with a test in Belgium of a new geolocation-assisted delivery service. By using a smartphone-enabled GPS tracking process, it will allow the shipment of its parcels directly to customers wherever they are, rather than only to their homes or ...
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Netshoes grows by 18.1%
The leading e-commerce player in Latin America, which went public on the New York Stock Exchange on April 12, announced an 18.1 percent increase in sales on a currency-neutral basis for the first quarter of 2017, with growth of 17.2 percent in the domestic Brazilian market and 23.8 percent in ...
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Mizuno’s results weighed down by U.S. and currencies
Weak sales in the Americas region and unfavorable exchange rates caused Mizuno's revenues for the 12 months ended March 31, 2017 to decline by 3.8 percent to 188.7 billion yen (€1.5bn-$1.7bn). However, on a currency-neutral basis, they inched up by 0.5 percent over the previous year.The Japan-based company blamed this ...
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Callaway posts strong results, improves guidance
Callaway Golf Company's revenues for the first quarter of 2017 were up by 12.7 percent to $309 million, with an increase of 13.3 percent in local currency. The company said that its results were better-than-expected, which led it to up its guidance for the full year.Sales were driven by the ...
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Acushnet improves its profitability
Acushnet reported a slight decline in revenues for the first quarter of 2017, but they generated higher margins than before. The drop was attributed to lingering retail softness, stemming from a number of factors, including fewer stores, fewer offerings of off-price golf clubs, isolated winter weather woes and some unusual ...
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Acushnet saves Fila Korea
The consolidation of Acushnet allowed Fila Korea to triple its net profit to 25.5 billion won (€20.4m-$22.8m) for the first quarter of 2017 and to raise its consolidated revenues by over nearly four times to KRW653.7 billion (€521.6m-$580.3m), up from KRW168.2 billion in the year-ago period.Fila Korea, which licenses out the ...
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IC Group adjusts its management structure
IC Group, the Danish owner of Peak Performance, has restructured its management to attribute more responsibility to the chief executives of its three leading brands, after a review that led to a downgrade of the company's forecast for the full year until the end of June.Nicolas Warchalowski, the CEO of ...
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Upgrade lifts sales at Peak Performance
Peak Performance is apparently reaping the benefits of the strategic measures taken over the last two years to upgrade the ski, outdoor and golf apparel brand, with a sales increase of 13.3 percent to 299 million Danish kroner (€40.2m-$44.8m) for the quarter until the end of March, but more discounts and ...
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Tacchini splits with Sport Finance, which will focus on Kappa
Wintex Italia, the company that took over the management of the Sergio Tacchini brand four years ago, has stopped working with Sport Finance as its licensee in France, which used to be the second-largest market for the brand in the old days, and replaced it with another French licensee, Movin, ...
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Hanesbrands invests in Champion’s growth
After taking control of the European and Asian operations of Champion USA in the past year, Hanesbrands has developed a three-year program to boost the brand's growth while reducing overheads. The plan, called Project Booster, calls for a $150 million cut in annual costs in return for annual investments of ...
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Weitzmann and Reusch merge
The Weitzmann family, which has owned the Reusch brand fully since last September, has decided to simplify the corporate structure to ensure better service to clients and facilitate the internationalization process. The family, now in its third generation, took over Reusch from the Pentland Group in 2001 along with other ...
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Accell breaks off talks with Pon
Talks for a potential takeover of the Accell Group by Pon Holdings, which was intended to form a leading global bicycle group, have at least temporarily come to an end. Accell described the offer as insufficient, despite Pon's move to raise its offer by €1 per share to €33.72 per ...
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Dorel Sports doubles its operating profit
Dorel's sports segment saw revenues decrease by 1.1 percent to $214.0 million in the first quarter to March 31. Dorel Sports is one of the three business segments of Dorel Industries, along with the Juvenile and Home Furnishing divisions. The sports division consists of a large portfolio of brands including ...
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VF relies on European talent for the U.S.
VF Corp. is reacting to a slowdown in the sales of The North Face and Timberland in North America by giving more responsibilities to two European managers, considering that both brands have been performing better in Europe lately.Arne Arens, the former executive of Nike Europe who had run TNF's operations ...
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Change in CEO at Icebreaker
Greg Smith, who is heading up Icebreaker in Australia and New Zealand, is taking over as chief executive of the merino outdoor apparel specialist from the start of June. He will succeed Rob Fyfe, who owns a minority stake of 5 percent in the company and held the job for ...
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Good first quarter for Black Diamond
The new year started well for Black Diamond. Sales were up by 9 percent in dollars and local currencies for the first quarter, reaching a level of $41.6 million, with growth in each of the company's main product categories: climb, mountain and ski. Strong sales were recorded for carabiners, protection, ...
