Latest Headlines – Page 250
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China to slash duties on shoes and other goods
China's Ministry of Finance said in a statement on May 25 that it would cut import tariffs on various products, ranging from shoes to cosmetics, by an average of more than 50 percent beginning June 1. The move is meant to spark domestic spending amid faltering economic growth.Chinese tourists often ...
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Deckers grows strongly abroad
On a currency-neutral basis, international sales rose by 26.6 percent during the financial year ended March 31 for the parent company of Ugg, Teva, Sanuk and Hoka One One, and they were up by 38.3 percent in the fourth quarter. Translated into dollars, the growth was still pretty strong, showing ...
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Exceed delisted
The chief financial officer and a director have resigned at Exceed, the Chinese sports company behind the Xidelong brand, after many months of delays with plans to take the company private. Other issues have led the Nasdaq stock exchange to delist Exceed from the end of April.Shuipan Lin, the company's chief ...
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L-Fashion buys a Finnish sports retailer
L-Fashion Group, the Finnish company behind Luhta, Icepeak and several other brands, has purchased the Top-Sport retail chain consisting of 18 stores in 15 cities around Finland. L-Fashion bought the chain earlier this month through an asset deal with Top-Sport Oy, which belongs to The Orange Company, a Finnish family-owned ...
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A single digital strategy for the EU
Sporting goods industry officials have welcomed new plans by the European Commission to adopt a “Digital Single Market Strategy” for all the 28 member countries of the European Union by the end of 2016. The issue will be discussed at a board meeting on June 24 of the Fesi, the ...
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Puma cuts profit outlook due to the dollar, despite improved sales
Unable to neutralize the impact of currency exchange rate changes and unwilling to reduce its spending on marketing, Puma has downgraded its forecast on gross profit margins and operating profits for the full year - after a sharp decline in earnings on increased sales for the first quarter. ...
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Kering out-sources its EP&L
Kering, the parent company of Puma, Volcom and many luxury brands, has decided to open-source the pioneering technology of its Environmental Profit & Loss Account (EP&L), placing this tool at the disposal of other companies. The ultimate goal is to spread the notion of “natural capital” and to achieve higher ...
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Hymel becomes action sports CEO at Kering
Todd Hymel has been appointed in the new position of chief executive for Action Sports Brands at Kering, the French company that owns Puma as well as Volcom and Electric. From the start of June, the French-American citizen is to be based at Costa Mesa, California, where Volcom has its ...
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Asics strides ahead with running shoes
Asics saw its sales increase by 10.0 percent on an adjusted basis and by 5.9 percent in constant currencies for the first quarter of this year, driven by running footwear and the Asics Tiger brand. While consolidated net sales in Japan slipped by 5.6 percent, the group's international sales were ...
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Running and tennis support vigorous sales at Asics Europe
Asics Europe managed to carry on its vigorous expansion in the first quarter, with sales advancing by 13 percent in constant currencies in Europe, the Middle East and Africa (EMEA). The growth was driven by the brand's running, tennis and lifestyle products.Sales of running footwear jumped by 16 percent for ...
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Weak golf sales reduce Mizuno’s expansion
An ample increase in European sales helped Mizuno to overcome the sluggishness of the golf market in its full fiscal year up to the end of March. The Japanese group raised its European turnover by 11.3 percent to 16,053 million yen (€117.5m-$134.5m), amounting to an increase of 3.8 percent in ...
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Descente forms joint venture in Korea
The big Japanese group has formed a joint venture with its long-time distributor and licensee in South Korea, which goes by the name of Descente Korea, taking a 60 percent stake in the operation. The Descente brand has a good position in the market with nearly 200 shops.The company has ...
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The Wintersteiger Group goes for stronger synergies
The Austrian-based group saw its consolidated sales decline by 4.3 percent to €135.8 million in 2014, due to factors including a major order that had lifted the revenues of a new German sheet metalworking subsidiary in 2013. Sales outside Austria represented 88.3 percent of Wintersteiger's turnover.All the five business units ...
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Mitre continues to protect labor standards
Mitre Sports International has lost a defamation lawsuit against HBO in which the sports ball company, owned by the Pentland Group, accused the American broadcaster of unfairly targeting Mitre in a documentary aired in 2008 about child labor in the manufacturing of soccer balls in India. After a trial that ...
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Adidas is urged to speak out over Qatar
Campaigners are stepping up pressure on the sponsors of Fifa, the global football organization, to speak out about the conditions faced by migrant workers on World Cup infrastructure construction sites in Qatar, where the football World Cup is to be held in 2022.The latest campaign was launched at a press conference ...
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Fitbit files to go public
Fitbit, the American company specialized in fitness trackers, has filed for an initial public offering that could raise $100 million. It has become one of the leading protagonists in the market for wearable technologies, with a share estimated by NPD Group at about 68 percent in the U.S market for ...
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Skullcandy grows faster than expected
The American producer of sports headphones has upgraded its sales forecast to a growth rate of 13 to 15 percent for the year, compared with the previously projected 12-14 percent increase, after booking an 18 percent sales increase to $46.2 million. In terms of local currencies sales rose by 21 ...
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Crocs reports lower results, but Europe is up
Crocs reported a decline in sales of 16.1 percent to $262.2 million for the first quarter, but they fell by only 6 percent in local currencies, and Europe outperformed the rest of the world. Wholesale revenues grew in Europe by 18.1 percent on a currency-neutral basis, but they were off ...
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Moncler posts 38% sales growth
Moncler saw revenues jump by 38 percent, or 30 percent at constant currencies, to reach €201.0 million in the first quarter as compared to the first quarter a year ago. The Italian brand of luxury ski and outerwear said that sales growth was significant in all its geographic markets. The ...
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Rebound in retail sales for Peak Performance
Robust retail sales enabled Peak Performance to deliver a sales increase of 2.5 percent to 284.6 million Danish kronor (€38.1m-$43.2m) in the quarter until the end of March, amounting to an increase of 3.6 percent in constant currencies.The Swedish ski, outdoor, golf and fashion brand's retail sales soared by nearly ...
