Latest Headlines – Page 215
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Adidas posts a strong Q3, driven by sneakers
The Adidas Group reported a strong lift in third-quarter sales, which rose 17 percent on a currency-neutral basis, and the new management confirmed that it is on track to meet targets for a record year. In reported euros, group sales went up by 14 percent to €5,413 million.Adidas brand sales ...
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Adidas’ new CEO launches Reebok’s overhaul
In his first public speech after taking the helm of the company on Oct. 1, Adidas' new chief executive, Kasper Rorsted, took the opportunity of the group's strong third-quarter results to give an insight into his plans for the group.While confirming the planned divestiture of TaylorMade, Adams and Ashworth, for ...
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Reebok unveils Liquid Factory
In yet another example of the rapid changes in sports-footwear manufacturing, Reebok has unveiled what it described as its Liquid Factory, producing a three-dimensional plastic web that wraps around the bottom of a shoe. The production is robotized and does not require the molds that form a substantial part of ...
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Puma makes another leap forward
Puma enjoyed yet another double-digit increase in its sales in terms of constant currencies during the third quarter. Reporting on the quarterly highlights ahead of the release of its results next Thursday, Puma's parent company, Kering, said its sales grew by 8.3 percent to €994.1 million during the period, with ...
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Under Armour invests to get big fast
Under Armour turned in yet another sharp increase in turnover for the third quarter, fueled by surging international and footwear sales, but the group's chief executive, Kevin Plank, explained that the company was over-investing in several aspects of its expansion to gain market share and move toward annual sales of ...
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Acushnet goes public
The parent company of Titleist and FootJoy went public on the New York Stock Exchange on Oct. 28, trading as GOLF. The initial public offering was priced at $17 a share, way below a target price of $21 to $24, reflecting investors' concern about the golf market following Nike's exit ...
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Callaway banks on Nike’s golf exit
While reporting higher sales in its seasonally small third quarter, Callaway Golf announced the recruitment of Hideyuki “Rock” Ishee, the departing senior director of golf ball innovation at Nike, as the company's new senior director of advanced golf ball research. Earlier, Callaway had placed Sean Toulon in charge of its ...
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Bauer’s parent goes bankrupt
Unable to file audited income statements for the last few quarters before the Oct. 28 deadline set by regulatory authorities, the Performance Sports Group (PSG) filed for bankruptcy protection from its creditors in the U.S. and Canada, but the filing looks like a pre-packaged bankruptcy.A stalking horse takeover bid of ...
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The EU invests in sports
The European Commission has created an expert group of 15 people from various countries to discuss opportunities for the development of grassroots sports. It is chaired by Sir Graham Watson, president of another association, Europe Active, which focuses on fitness activities.The Commission has also asked all the member governments to ...
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Fesi acts on integrity and Iran
The Federation of the European Sporting Goods Industry (Fesi) is proposing to open a new workstream on integrity in sports at its next general assembly, due to be held in Rome on Nov. 17 and 18, as part of a new three-year strategic plan.The general assembly will also have to ...
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Wolverine loses sales but improves margins
Our estimates for the rugged outdoor shoe market confirm a previous statement by Blake Krueger, chairman, chief executive and president of Wolverine Worldwide, that the market has entered a phase of slow or inexistent growth, which he called “the new normal.”His statement, which has resonated widely in the industry and ...
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Skechers posts another disappointing quarter
Skechers posted earnings for the third quarter that missed analysts' expectations, despite a new sales record. Net profits decreased by 2.2 percent from the year-ago quarter to $65.1 million, falling below analysts' forecasts. Profits were negatively impacted by foreign exchange losses of approximately $8.1 million. After Skechers reported its results, ...
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Deckers has high hopes for Hoka
Hoka One One started to run again in the second quarter of Deckers Brands' financial year, ended Sept. 30. Hoka's sales jumped by 39 percent, lifted by the successful launch of its Clifton 3 shoe, helping the group's Other category to post a 23.3 percent sales increase to $37.7 million, ...
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Black Diamond is optimistic
Black Diamond reported a minimal increase in sales from continuing operations during the third quarter to $39.4 million from $39.3 million a year ago, up by 3 percent in constant currencies. The gross margin contracted to 31.3 percent from 36.0 percent, due in part to the repatriation of some production ...
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Affected by U.S. retail caution, Columbia rises in Europe
After a small decline in turnover and net income for the third quarter, Columbia Sportswear has adjusted its sales guidance for the full year, estimating that sales should increase by about 4 percent, including less than one percentage point of negative impact from currency exchange rates.The group's sales dipped by ...
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Weak U.S. wholesale market impacts VF
The North Face's turnover soared by 20 percent in constant currencies for the third quarter in Europe, the Middle East and Africa (EMEA), but this ample rise could not make up for weakness in the North American wholesale market. This has more broadly affected sales at VF Corporation, the owner ...
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TNF celebrates its 50th anniversary
The North Face is celebrating its 50th anniversary with a new global campaign, the launch of new vintage products and the opening of two special new stores in New York City and San Francisco.Celebrating “50 Years of Madness,” the campaign will showcase athletes sponsored by the brand throughout its history, ...
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Tracksmith makes key hires
Brian Moore, who served as vice president of global footwear for The North Face for four years until last May, has joined Tracksmith, a small but promising American brand of performance running apparel and accessories, as product manager.Founded and run by runners, the brand has also hired a marketing manager, ...
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Newell’s outdoor segment posts a loss
Higher sales for Pure Fishing were more than offset by a sales decline at Coleman during the third quarter, leading Newell Brands to report a 3.2 percent drop on a comparable basis for Jarden Corporation's former Outdoor Solutions segment, excluding the snow sports brands held for sales. Furthermore, Marmot Mountain ...
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Rapala is not doing well
Jussi Ristimäki, the former chief financial officer of Rapala VMC who was recently appointed president and chief executive of the Finnish manufacturing and distribution group, is working on a new strategy and a new action plan to restore sales growth and profitability after a further sales decline in the third ...
