Latest Headlines – Page 221
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Acquisitions help Vista Outdoor
Vista Outdoor reported a 23 percent sales increase to $630 million in its second quarter ended July 3, boosted by its new acquisitions of Bell, Giro, Jimmy Styks and CamelBak during the past year. The figure includes $134 million from recent acquisitions. On an organic basis prior to those acquisitions, ...
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Impairment charges hit Johnson Outdoors
Johnson Outdoors posted weak results for its fiscal third quarter ended July 1, with profits tumbling against the year-ago period due to non-cash goodwill impairment charges of $6.2 million for the Diving segment. Net income plummeted by 31.5 percent to $6.8 million.These charges were triggered by the company's decision to ...
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Dorel Sports restructures after lower sales
Dorel Sports has announced various measures for the current quarter in reaction to a drop in revenues during the second one. All restructuring actions will result in around 4 percent reduction in Dorel Sports' global workforce, with anticipated annualized savings of $5.0 million starting next year.Among other measures, sales of GT ...
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Fitbit continues its strong growth story
After posting growth of 92.0 percent in the first quarter, Fitbit continued on its strong trajectory with results for the second quarter that surpassed Wall Street's estimates. Sales soared by 46.0 percent to $586.5 million as compared to a year ago, while analysts were looking for sales of $578 million ...
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Yue Yuen improves margins
Revenues were up barely by 0.8 percent at $2.28 billion for Yue Yuen Industrial in the first half ended June 30. Excluding extraordinary items, the operating profit rose by 11.9 percent to $233.7 million and net earnings grew by 18.3 percent to $2,248.7 million. Comprehensive net income increased by 10 ...
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Alpargatas' sporting goods business shrinks, rubber sandals explode
Strong sales under the Havaianas brand in Brazil helped Alpargatas to raise its total revenues by 8.4 percent to 1,010 million reals (€281.0m-$316.9m) for the quarter ended June 30. Domestic sales were up by 18.5 percent over the year-ago quarter to R$570.5 million (€158.9m-$179.0m), despite a backdrop of low consumption ...
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Sport 2000 grows by 6%, expands to other countries
Sport 2000 International reports an 8 percent increase on a comparable basis in the retail turnover of its affiliated retailers all over Europe in 2015. The growth rate was higher in absolute terms as big national retail organizations in Italy, Finland and Sweden joined the group in the course of ...
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Fast-growing XXL has plans in Austria
XXL ASA, the Norwegian sporting goods retailer, will soon move into Austria, a market where the weather can get very cold and where Sports Direct International has been having problems with its acquisition of Sport Eybl & Sports Experts.The company, which own stores in Norway, Sweden and Finland, said it ...
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Parliamentary report slams SDI’s working practices
Sports Direct International (SDI) has been lambasted for allegedly “appalling” working conditions and practices at its warehouse in Shirebrook and in its stores, as part of a report by a British parliamentary committee. The select committee for Business Innovation and Skills (BIS), whose investigation included a much-publicized hearing of Mike ...
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Small growth for Sport 2000 and Intersport in Germany
The retail members of the Intersport and Sport 2000 retail organizations recorded a sales increase of only one percent in their turnover in Germany during the first half of 2016, as compared to the first six months of 2015. Weak sales of winter sports products were compensated by progress in ...
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New managers at SportScheck
SportScheck is expanding its executive board. Roland Patrick Stiefel will assume on Aug. 1 the newly created position of division manager responsible for the creative category management of the purchasing department of the German sports retail chain. The 43-year-old previously worked as merchandising director and as an executive board member ...
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Strong rebound for Puma in Europe
Puma strongly rebounded in Europe in the second quarter, pushed up by the European football championships as well as a broader uptick in sales across many countries and distribution channels.Puma's turnover in Europe, the Middle East and Africa (EMEA) jumped by 18.8 percent to €321.3 million for the three months, ...
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Sport outperforms luxury in Kering’s sales growth
Puma's progress helped its parent company, Kering, to book a 9.1 percent increase in the revenues of its Sport & Lifestyle division on a comparable basis for the first half of this year, in spite of an 8.9 percent decline at Volcom. The division's operating results improved by 25.3 percent ...
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Adidas raises its guidance
A few days before it was due to announce its quarterly performance on Aug. 4, the Adidas Group raised its guidance for the full year, on the back of a 13 percent sales increase to €4.4 billion in the three months to the end of June, and an operating profit ...
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Adidas opens up and gets faster
The Adidas Group wants to get more creative talent involved in its product development, to invest over-proportionally in key cities and to speed up its production, in order to get closer to consumers. The initiatives form the three pillars of Creating the New, the strategic five-year plan unveiled by Adidas ...
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Adidas expands head office to support ongoing growth
Adidas has recently laid the foundation stone for two new staff buildings at its headquarters in Herzogenaurach. “Campus Expansion South” is to include a new office building for more than 2,000 employees as well as an events building with a restaurant for the employees. The expansion will also involve the ...
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Brands claim their own Euro wins
Nike, Adidas and Puma all claimed victories big and small at the European football championships this month – with Nike ruling the pitch on the night of the final but the two others taking advantage of social media exposure and partnerships with notable players.Nike declined to provide detailed numbers but ...
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Under Armour sells more but makes a loss
As usual, Under Armour posted strong sales for the second quarter, boosted by Stephen Curry's performance and demand for his shoe line, but profits were hit by a $23 million write-off of bad debt from the bankruptcy of The Sports Authority, the big American sporting goods retail chain, and a ...
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Weak quarter for Timberland affects VF sales guidance
The outdoor and action sports business at VF Corp brought in mixed results for the second quarter ended July 2, combining sales increases for The North Face and Vans, and a decline for Timberland, caused by the Americas and Asia-Pacific.The group said it was broadly on track but the Timberland ...
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Weak growth for Columbia
Columbia Sportswear's sales were up by just 2 percent in dollars and local currencies in the second quarter ended June 30, but they still reached a record level of $388.8 million for the period. The variation is not very significant as this is the weakest quarter in the group's financial ...
