Latest Headlines – Page 256
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New management for Karstadt Sports
Signa Retail has appointed Michael Rumerstorfer as the new chief executive for its Karstadt Sports chain to replace Simon Rider, the British sporting goods industry veteran who left at the end of last year by mutual consent. Rider had been hired in mid-2013 as head of sport for the whole ...
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Fanatics bags Kitbag
Kitbag, a British-based online retailer specializing in team sports products, has been acquired by Fanatics at a price of £11.55 million (€15.1m-$16.9m). The purchase will support the European expansion of Fanatics, a major U.S. player in the market for officially licensed sports merchandise.Kitbag had apparently caught the eye of Sports ...
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Way clear for Oaktree to control Quiksilver
Oaktree Capital Management has received the green light to become the majority shareholder of Quiksilver. The U.S. bankruptcy court for the District of Delaware approved a reorganization plan under which the company's secured bondholders will forgive $279 million in debt in exchange for shares. Oaktree, which also has a stake ...
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Another bad year for Quiksilver
Quiksilver has reported another big net loss of $306.2 million for the financial year ended Oct. 31, 2015, after posting losses of $229.4 million in 2012/13 and $308.1 million in 2013/14. Group revenues fell by 14 percent to $1,345.9 million, with the Quiksilver brand accounting as before for 40 percent ...
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Elan prepares strategic investments
Elan, the Slovenian ski brand, wants to expand its counter-seasonal business, invest in its production and rebuild its OEM business, after its takeover last year by an arm of VR Capital Group, an asset management company, backed by Merrill Lynch International.While the Elan group managed to raise its sales last ...
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Look Cycle takes over Corima
Look Cycle has announced it is acquiring a majority stake in Corima, a French specialist in the design and manufacturing of carbon wheels. Corima had a turnover of €4 million in 2015, of which 85 percent was made through exports. Founded in 1973, the company initially focused on making high ...
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Under Armour races ahead in last quarter
Under Armour probably became the third-largest general sports apparel and footwear brand, after another whopping sales increase of 28.5 percent to $3,963.3 million last year. New Balance reported sales of $3.3 billion for 2014 while Puma projected a sales increase at a mid-single-digit rate in constant currencies in 2015, from ...
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Callaway improves and plans Japanese venture
Callaway Golf saw its sales increase by 14 percent to $153.3 million and its net loss narrow by 27 percent to $30.4 million for the fourth quarter of last year, driven by buoyant U.S. sales and a robust increase in global sales of golf balls.Although the performance was adversely impacted ...
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Brunswick’s fitness unit expands
Brunswick Corp., the owner of Life Fitness and other fitness brands, saw the sales of its fitness division increase by one percent to $237.7 million for the fourth quarter of last year, with an increase of 4 percent in constant currencies. While its U.S. turnover improved by 8 percent with ...
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The German ski market is declining
The German sporting goods industry association, BSI, reported figures for the German ski market during its annual press conference at Ispo. The BSI expects that about 250,000 pairs of alpine skis will be sold in Germany by the end of this year's winter season, a drop from 280-300,000 pairs sold ...
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Nordic ski market continues to decline
Industry experts estimate that the sell-in figure of the global cross-country ski market excluding sales by local manufacturers in Russia will be of about 1.1 million pairs at the end of this winter, down from 1.8 million pairs for the 2012/13 season. The market had already shrunk to 1.6 million ...
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The snowboard industry targets former customers
Industry experts estimate that the global snowboard market will remain more or less stable with sales of about 600,000 boards by the end of this winter season, excluding private labels and smaller snowboard brands. Adding these two factors, sales are expected to reach about one million boards. The European snowboard ...
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European court judges anti-dumping regulations invalid for some imports
The European Court of Justice (ECJ) has issued a much-awaited judgment in a case led by Puma and Clarks, in which regulations imposing anti-dumping duties on imports of certain footwear from China and Vietnam from April 2006 until March 2011 were declared invalid.The ruling was issued yesterday upon a request ...
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Olympic give and take for WFSGI members
At least ten leading sports brands have agreed to take part in the first social program organized by the World Federation of the Sporting Goods Industry (WFSGI) to support national Olympic committees (NOCs) that do not have sponsorship deals for the Rio Olympics.As requested by the president of the International ...
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Amer gears up for expansion in ball sports and fitness
Amer Sports ended last year with a robust fourth quarter, again fueled by sharp rises in apparel and footwear sales. The turnover of the Finnish group, with brands from Salomon to Atomic, Arc'teryx, Wilson and Precor, among others, increased by 11 percent to €783.7 million, with a rise of 6 ...
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Henkel chief to lead Adidas Group
The supervisory board of the Adidas Group ended up picking an outsider as it decided that Kasper Rorsted, chief executive at Henkel, should take over from Herbert Hainer as the CEO of the German sports company from the start of October. The 53-year-old Danish manager will start at Adidas by ...
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Intersport grew by 5.1% in 2015
Intersport International Corp. (IIC) reports a 5.1 percent increase in total retail sales to €11.03 billion including sales taxes in 2015, with above-average growth in fitness and running. Comparatively, Fedas, the European sporting goods retailers' federation, estimates that the Europen sporting goods market, which represents the bulk of Intersport's business ...
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TAF continues to do even better than Intersport
The Athlete's Foot (TAF), which has belonged to Intersport International Corp. since 2013, raised its retail sales by 6 percent in 2015 to €307 million, with an increase of 14.3 percent in local currencies. The TAF business was flat in the U.S. but rose at a double-digit rate in Mexico.TAF's ...
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Buoyant holiday season for JD’s sports stores
JD Sports Fashion reports that its comparable store sales increased by 10.6 percent at its various sports retail chains in the U.K. and elsewhere in Europe during the five weeks ended Jan. 2, after a buoyant holiday season. The group thus predicts that its headline profit before tax and exceptional ...
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SDI builds up Dick’s and Iconix stakes
Sports Direct International (SDI) has continued to invest in other sports and retail companies, raising its financial interest in the Iconix Brand Group and acquiring a smaller stake in Dick's Sporting Goods, the leading U.S. sporting goods retailer. Both investments were made through so-called contracts for difference (CFD), which give ...
