Latest Headlines – Page 205
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Under Armour grows by more than 50% abroad
As expected, Under Armour reported its first loss since going public, although it was lower than what analysts had expected. It amounted to $2,272,000 for the period compared with a net profit of $19,180,000 in the same quarter a year ago. The gross margin fell by 0.7 percentage points to ...
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Adidas projects continued expansion in China
The Adidas Group is projecting another year of double-digit sales expansion in Greater China as it invests to build up a network of 12,000 Adidas stores by 2020, the company said during a trip to China by Kasper Rorsted, its chief executive since October.The brand currently has more than 10,000 ...
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BasicNet’s brands grow by 4.6%, driven by South America
The owner of Kappa, Superga, K-Way and other brands reported a 4.9 percent increase in aggregate, wholesale-equivalent sales to €198.8 million for the first quarter ended March 31. While its direct sales in Italy declined by 4.6 percent to €37.8 million, the revenues of its foreign licensees went up by ...
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The North Face thrives in Europe
The North Face has been thriving in Europe, the Middle East and Africa (EMEA) in the first quarter, leading to sales growth of 19 percent in constant currencies. But its owner, VF Corporation, was impacted by sluggish sales for Timberland and its jeans brands in a weak U.S. market.The North ...
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Columbia is worried about its U.S. clients
Due to the unstable situation in the U.S. retail market, Columbia Sportswear has slightly downgraded its guidance for the full financial year. It predicts that sales will gain 3 percent and that net profit will range from $192 million to $199 million, compared with sales of $2.38 billion and earnings ...
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Amer ramps up omni-channel investment
Amer Sports is ramping up investments in its omni-channel strategy to deal with changes that have weakened the U.S. market. The group suffered a decline in underlying operating profit for the first quarter and its earnings were hit by unfavorable hedging rates.Heikki Takala, Amer's chief executive, explained in a conference ...
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Lower margins for Brunswick
Represented by Life Fitness, Cybex International and other properties, the fitness division of Brunswick Corp. saw its sales advance by 8 percent to $235.6 million in the first quarter of this year, but they were up by only one percent on a currency-neutral basis.Segment sales outside the U.S. were up ...
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Good growth for fitness in Europe
The number of people who are members of a fitness club grew by 4.4 percent to 56.4 million in Europe last year, according to a study by Deloitte and EuropeActive. The development of the low-cost channel led European fitness studios to book a lower increase of 3.1 percent in their ...
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Shimano sees margins erode
Shimano has reported a 50.1 percent increase in consolidated net income to 9,537 million yen (€78.8m-$85.8m) for the first quarter of this year, but the group's operating income declined by 5.1 percent to ¥15.3 billion (€126.5m-$137.7m), as total net sales declined by 2.7 percent to ¥79.9 billion (€660.7m-$718.9m) during the quarter.The bicycle ...
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Rapala is worried about digitalization in the U.S.
Rapala VMC is reviewing its outlook for the current financial year because many big clients for its fishing tackle products in the U.S. are facing financial challenges or even closing down because of the recent accelerated development of e-commerce in the sector. The U.S. is the biggest market for the ...
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Stable sales at Accell
While studying a takeover offer worth about €845 million from Pon Holdings to form the world's largest bicycle company, the Accell Group told its shareholders at its annual general meeting earlier this week that its sales were stable in the first quarter. The owner of Batavus, Winora, Haibike, Raleigh, Diamondback, ...
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Rapha may be seriously for sale
Sky News reports that Rapha Cycling, the fashionable and functional British brand of cycling apparel, has hired William Blair, an investment bank, to ready the company for a sale. Rapha was rumored already to be gearing up for a change of ownership a few months ago, when Pinarello was sold ...
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Deckers explores a possible sale
Bowing to pressure from some of its shareholders, the board of directors of Deckers Brands announced that it was exploring strategic alternatives, including a possible sale of the company. It has retained Moelis & Company as financial advisor and a legal counsel to assist in the process.The announcement was made ...
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GoPro claims turnaround is on track
GoPro posted a huge net loss of $111,150,000 for the first quarter. It was even bigger than the huge loss of $107,459,000 of the year-ago period. Excluding restructuring costs and other extraordinary items, it was down to $62,783,000 from a loss of $86,740,000, and Nicholas Woodman, founder and chief executive, ...
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Sympatex and Gore fight it out in the courts
Sympatex Technologies and W.L. Gore & Associates have both obtained temporary injuctions against each other in two German courts over the last few days about the use of erfluorinated and polyfluorinated chemicals (PFCs).Sympatex first announced in a press release earlier this week that it had managed to get a ...
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European Parliament acts on geo-blocking
A committee of the European Parliament has put forward a draft proposal on “unjustified geo-blocking,” setting out specific situations under which online retailers should be prevented from adjusting their prices and other conditions from one member country of the European Union to another. The European Commission had previously publicized its ...
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JD thrives on athleisure, expansion and astute retailing
Avid demand for sneakers, multiple store openings and acquisitions helped JD Sports Fashion to deliver bumper results again for the full year to Jan. 28, with a 31 percent increase in sales to £2,378.7 million (€2,806.7m-$2,978.6m) and even sharper rises in profits.The outdoor division turned profitable and the entire group's profit ...
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Sports Direct buys into U.S. retailers
Sports Direct International (SDI) has obtained court approval to take over assets of Eastern Outfitters, a U.S. outdoor retailer that filed for Chapter 11. The retailer had 86 stores trading as Bob's Stores and Eastern Mountain Sports but the assets to be acquired by SDI include about 50 outlets.SDI said ...
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Netshoes IPO values online retailer at $558.5 million
Netshoes, the leading online sports retailer in Latin America, closed an initial public offering (IPO) on the New York Stock Exchange that started last week and raised net proceeds of $138.8 million.NETS shares were priced at $18.0, at the lowest end of the initial range, valuing the retailer at about ...
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Intersport France gains market share
Reducing its gap with Decathlon, the French voluntary group raised its retail sales last year by 6.9 percent, reaching a level of about €1.8 billion including VAT. On a comparable store basis, they grew by 3.3 percent, roughly in line with the estimated growth of the French sporting goods market.For ...
