Latest Headlines – Page 235
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Staff cuts at GoPro after weak quarter
GoPro is letting go 105 employees, or about seven percent of its staff, after another disappointing quarter that sent its shares tumbling down. The maker of action sports cameras announced last week that its sales for the fourth quarter should reach about $435 million, down by more than 31 percent ...
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New European regulation on personal protective equipment
The European Parliament voted last Wednesday on a new EU regulation for personal protective equipment (PPE) - covering items such as sports helmets, shinguards, diving suits and swimming goggles – which updates the current EU rules on these products. The European Federation of the Sporting Goods Industry (Fesi), which represents ...
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Industry stocks rose by 22.7% in 2015
The publicly listed sporting goods companies performed better than the overall stock market in 2015 once again. Their combined stock market capitalization rose by 22.7 percent, or a little faster than the 19.3 percent gain recorded in 2014, with increases in all regions. Comparatively, the MSCI World Index of 1,663 ...
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Sports Direct is not doing well
Shares in Sports Direct International (SDI) took another hit last week after the British sports retailer warned that it suffered from deteriorating retail trading conditions and unseasonal weather over the holiday season. SDI thus admitted that it was no longer confident of reaching a previously set target of £420 million ...
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Ashley promises (small) pay rise for SDI staff, gets more flak
After growing criticism of pay and working conditions at Sports Direct International (SDI), the company announced at the very end of last year that it has made a commitment to increase pay above the U.K. minimum wage for its directly employed U.K. staff and directly-engaged casual workers, from the start ...
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SDI builds up interest in Umbro's owner
Sports Direct International (SDI) has built up an economic interest amounting to about 9 percent by acquiring 4.3 million shares in Iconix Brand Group, the owner of Umbro and other sports brands. A document filed to the U.S. Securities and Exchange Commission (SEC) indicates that SDI has been steadily buying ...
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Rottefella accuses Amer of imitating its ski bindings
Atomic and Salomon have launched a new binding system in all the cross-country ski markets, called Prolink, that is compatible with the Rottefella NNN binding system. The two subsidiaries of Amer Sports continue to offer Salomon's own SNS system as an alternative.Rottefella reacted on Jan. 5 by sending a written ...
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Swiss ski competition inquiry is closed
The Swiss competition commission, Weko, says it has closed a preliminary investigation involving Fischer's and Völkl's trading practices in the Swiss ski market. It was started in October when Weko was made aware of a letter sent out by Fischer to its Swiss retail partners, in which the Austrian supplier ...
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Nautilus buys Octane
After making a lot of progress in sales and profits, Nautilus is taking over Octane Fitness, a complementary firm in the fitness equipment sector, buying its parent company, OF Holdings, for $115 million from North Castle Partners and other shareholders. The purchase price values Octane at about 10.5 times its ...
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Changes at Camelbak’s reins
Sally McCoy is leaving as chief executive of Camelbak Products after nine years in the role and five months after its sale by Compass Diversified to Vista Outdoor. A well-known personality in the outdoor industry, McCoy grew Camelbak from $122.2 million in 2010 to $160 million before the latest change ...
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Changes at K-Swiss' helm
Truman Kim, chairman of K-Swiss Global Brands, is adding the title of chief executive of the company, as Larry Remington retires as president and CEO. They had been appointed to their respective positions immediately after the acquisition of K-Swiss by E-Land of South Korea in the spring of 2015.The company ...
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New management for Apex Ski Boots
Kevin Tice is taking over as chief executive and president of Apex Ski Boots after several years at the company, most recently as chief operating officer and chief financial officer. He takes over from Denny Hanson, who co-founded the Apex ski boot brand in Boulder in 2006. Tice is also ...
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Brooks runs at a slower pace
Brooks Running says it raised its global sales by 5 percent in terms of volume during the past year, with increases of 5 percent in North America, 3 percent in Europe, the Middle East and Africa, and 8 percent in Asia-Pacific and Latin America. It did not provide figures in ...
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UA invests in digital fitness gear
After several acquisitions in connected fitness communities last year, Under Armour has come up with its own package of connected fitness devices, consisting of a health tracking system, as well as a smart shoe and two wireless headphones.Meant to be used with a new version of the company's UA Record ...
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New Balance launches digital division
Another sports apparel and footwear company that made its mark in the digital business at the Consumer Electronics Show (CES) in Las Vegas is New Balance, which announced a smart watch to be launched by a new Digital Sport division toward the end of the year.New Balance Digital Sport is ...
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Partial win for selective distribution in Germany
In a high-profile case around selective distribution, the competition chamber of Frankfurt's higher state court (Oberlandesgericht) has decided that Deuter Sport should be allowed not to deliver to retailers who sell their products through marketplaces such as Amazon. On the other hand, the court found it unacceptable from a competition ...
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European industry takes action on digital single market
European sporting goods retailers and suppliers are teaming up to take an active part in the decision-making process around the European Union's digital single market project, which is taking shape this year and could have far-reaching repercussions on distribution strategies in the European sporting goods market.Fesi, the federation of the ...
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WFSGI Forum shows new ways of motivating workers
Confronted with rising wages and high worker turnover rates, manufacturers in China and other increasingly less “low-cost” countries are introducing systems that engage the workforce and stimulate higher productivity rates. Examples of these non-monetary benefit systems were given at the third Manufacturers Forum, organized by the World Federation of the ...
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No end in sight for Nike growth spurt
There's still no end in sight to the latest growth spurt at the Nike group, as its sales advanced by 4 percent to $7,686 million and by 12 percent in constant currencies for the quarter until the end of November. Even more impressively, futures orders for the Nike brand were ...
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Receivers file for Macintosh bankruptcy
Macintosh Retail Group announced yesterday that its receivors asked a Dutch court to withdraw a suspension of payments granted to the retail company earlier this month, and to simultaneously decide on bankruptcy for the group. Macintosh is the parent company of several shoe retailing concepts and a significant partner for ...
