Latest Headlines – Page 236
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Sanfo on the stock market – at last
Beijing Sanfo Outdoor Products, which claims to be China's largest specialty retail group in the outdoor sector, had a good start at the Shenzhen Stock Exchange on Dec. 9. The retailer raised about 160.1 million yuan renminbi (22.6m€- 24.7m$) from its long-awaited initial public offering, issuing 17 million new shares ...
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Allsport is taking a break
Allsport Moden, the Austrian outdoor and winter sports apparel company, has decided to terminate production and distribution of the Allsport brand after the upcoming summer range. The company wants to take a break to rethink its business approach and to offer its services to other sports and outdoor companies, as ...
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Swix buys Norwegian bike brand
The Swix Sport Group is further expanding its offering with the acquisition of Hard Rocx, a Norwegian brand specializing in high-end mountain bicycles, which should be completed at the start of next year. The Swix group, which already owns several brands of outdoor and winter sports apparel, footwear and equipment, ...
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Karhu ski production returns to Finland
Karhu Holding, the company that holds rights to the Karhu brand for skis, running and other sports products, has struck a new licensing agreement for production and sales of Karhu-branded cross-country skis, boots and poles. Covering Europe, Russia and CIS countries, Japan and South Korea, the deal will allow Karhu ...
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Sport-Tiedje buys U.K. stores
Sport-Tiedje, the German retailer of fitness equipment, has taken over Powerhouse Fitness, an originally Scottish fitness chain, which runs outlets both in Scotland and in England. Powerhouse Fitness operates nine stores in Glasgow, Nottingham, London, Newcastle, Aberdeen, Edinburgh and Leeds as well as an online shop. The takeover was agreed ...
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SDI disgruntled about Findel vote
Sports Direct International (SDI) issued an angry statement after shareholders in Findel, a specialized British retailer in which SDI owns a stake of 17.5 percent, rejected its proposed appointment of Benjamin Gardener as a board member at an extraordinary shareholders' meeting on Dec. 21. The proposed appointment was rejected by ...
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VF looks for closer partnership with some factories
Participants in the third Manufacturers Forum, organized by the World Federation of the Sporting Goods Industry (WFSGI) in Hong Kong earlier this month, called on sports brands to develop a more collaborative spirit along the supply chain in order to optimize processes and reduce costs.The message was relayed through numerous ...
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Sport participation in Spain is on the rise
According to a recent survey by the Spanish Ministry of Culture and Sports, 53.5 percent of the Spanish citizens aged 15 or more have participated in sport over the last 12 months. This percentage, which includes both regular and occasional participants, represents a 9.2 percent increase since the previous survey ...
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The world's biggest retail chains grew faster in 2014
The 73 biggest integrated sporting goods retailers raised their sales to $92.2 billion in 2014, according to an annual SGI survey, indicating growth of 8.4 percent in local currencies and 7.5 percent in U.S. dollars. This represents a slight acceleration in their expansion as compared to 2013, when their sales ...
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Sports Direct’s performance disappoints some investors
Sports Direct International (SDI) was under pressure this week as its results for the first half of its fiscal year disappointed some investors. The company had to impair goodwill for its under performing Austrian stores, and it is facing yet more allegations over work practices at its huge warehouse.The turnover ...
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Sports Direct takes flak on governance and working conditions
While investors were underwhelmed by the performance of Sports Direct International (SDI) for the first half of its fiscal year, the company faced yet more criticism over working conditions at its warehouse in Shirebrook. Growing concerns about governance and employee relations have probably contributed to a decrease of more than ...
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New chief executive at Stadium
Karl Eklöf, previously in charge of expansion at Stadium, has formally taken over as chief executive of the Swedish sports retailer from the start of December. He replaces Gustav Öhrn, who left Stadium in September after seven years at the helm.Given his long-time involvement in the company, Karl Eklöf is ...
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Rider quits Karstadt
Simon Rider is no longer acting as chief executive of Karstadt Sports. A notice on Linkedin says his role has ended following the completion of a “carve out” process, developing an organizational team and delivering the operational vision for the company.Rider, who is British, was placed at the helm of ...
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Sportia buys half of Sportringen
SGN Sportia, the Finnish buying group that acquired a majority stake in Team Sportia last year, has bought half of the shares in another Swedish buying group, Sportringen, which has about 150 relatively small and independent stores in Sweden. While the three buying groups are meant to be run independently ...
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Intersport Germany to lift the share of own brands
Intersport Germany, the largest sporting goods retailer in the country,said it managed a sales increase of 2 percent for the present calendar year as of Dec. 7, when its executive board held its usual annual meeting with the press in Frankfurt. More precise figures for the group's financial year through ...
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Jarden merges into Newell Brands
Newell Rubbermaid, the parent company of many consumer brands including Rubbermaid, Parker and Waterman, will acquire Jarden Corporation at about $60 a share, including $21 in cash and the balance in shares, and take over its debt of $5.2 billion. The purchase price is 25 percent higher than Jarden's share ...
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Adidas tries to deal with margin pressure
As labor costs are seen rising at a compound annual rate of 13 to 15 percent, and material costs by between one and four percent a year through 2020, the Adidas Group has told investors that it is rearranging its sourcing strategy, while adjusting its product mix and planning significant ...
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An upbeat Herbert Hainer will stay until end of contract
Herbert Hainer, chief executive of the Adidas Group, said at a news agency briefing in Herzogenaurach earlier this month that he would stay in his job until the end of his contract in March 2017, and shared his upbeat mood about next year's prospects for the company.The group's board said ...
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Sponsors demand independent oversight at Fifa
Adidas is one of the five sponsors who have written an open letter to Fifa's executive committee, demanding “independent oversight” of any reforms at the embattled global football organization. It was also signed by Coca-Cola, Visa, McDonald's and AB Inbev, makers of Budweiser beer. Herbert Hainer, chief executive of the ...
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Rossignol diversifies, trades up in apparel
Rossignol is determined to make a strong statement in the broader functional apparel sector, in the wake of successful brands such as Kjus and Moncler. It will come out with three lines of clothing for the autumn/winter 2016/17 season for sale in sports and fashion stores as well as in ...
