Latest Headlines – Page 263
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Higher prices and charges for Yue Yuen
Yue Yuen raised its sales by 6. 8 percent to $5,936 million in the first nine months of this year, but its net profit for the period fell by 36.8 percent to $330.5 million. The world's largest shoe manufacturer managed to raise its operating profit before extraordinary items by 9.5 ...
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Pacific Brands sells its footwear business
Pacific Brands has agreed to spin off and sell the sports and footwear businesses of its loss-making Brand Collective division for 39 million Australian dollars (€26.8m-$33.7m). The division generated revenues of A$204.5 million (€140.6m-$176.5m) in the financial year ended on June 30, down 8 percent from the previous year, and an ...
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Vulcabras turns around
After a long, steady decline, Vulcabras' share price began to stabilize after the publication of the Brazilian company's financial results, which showed a tiny net profit of 3.1 million reais (€1.0m-$1.2m) for the third quarter ended Sept. 30, compared with a loss of R$6.2 million in the year-ago period. It was ...
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Alpargatas expands internationally
Alpargatas has come to generate about 30 percent of its turnover outside Brazil, and its foreign business is expanding, mostly through its Havaianas brand of high-end sandals. The company booked a 26 percent increase year-on-year to 7,088,000 pairs during the third quarter in the volume of shoes sold by its ...
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VF achieves best score in Climate Change Report
VF Corp. has announced that it achieved its highest-ever score - 90 out of 100 - in the 2014 Standard & Poor's 500 Climate Change Report by the Carbon Disclosure Project (CDP). The CDP is a non-profit organization, which provides companies and cities with a global system to measure, manage, ...
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Dick Johnson will run Foot Locker
Richard (Dick) A. Johnson will become on Dec. 1 the new president and chief executive of Foot Locker on a global basis, replacing Kenneth (Ken) Hicks who is retiring after a remarkable five-year run at its helm. He will also join the board of directors. Johnson, 56, has been with ...
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Fenix takes over Globetrotter
A new company, Frilufts Retail Europe, is taking over all the retail operations of Globetrotter, Germany's largest outdoor retailer, along with the two major outdoor retail chains in Sweden and Finland, Naturkompaniet and Partioaitta. Together, they will have an annual turnover of around €260 million, second only to A.S. Adventure, ...
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Intersport exits Korea but Asia-Pacific is ahead of plan
Intersport International Corp. and LG Fashion have decided not to extend their five-year-old Korean master franchising agreement. After a year of negotiations, the two parties were unable to agree on the conditions for its renewal. IIC officials declined to comment on a rumor that the two parties could not agree ...
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TAF moves into Turkey
Fourlis Group, the Greek retailer whose Intersport master license was extended three years ago to Turkey from Greece, Romania, Bulgaria and Cyprus, has signed up as master franchisee and licensee for The Athlete's Foot as well. It plans to open the first two TAF stores in Greece and the first ...
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Jost exits Intersport Germany, goes to court
Intersport Germany has announced that Klaus Jost, president of the buying group in charge of purchasing, marketing and distribution since 2001, has been driven out of his functions with immediate effect. The official release says that the supervisory board and Jost could not find a common basis on the future ...
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Strategic rethink at Adidas Group
Under pressure to regain the confidence of investors, the Adidas Group's management said it has taken extra measures to “aggressively” tackle the issues that have been affecting its earnings and share price this year. The moves will focus on scaling back Russian investments, cleaning up golf inventories and regaining share ...
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Shrinking profit at Adidas Group despite robust demand
The Adidas Group enjoyed robust sales increases in all regions other than North America in the third quarter, where the clean-up of its golf business led to a sharp sales decline at Taylor Made Adidas Golf. Along with unfavorable exchange rates and Russian discounts, the weakness of the group's golf ...
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Puma on track for turnaround
While his colleague across the river refused to talk about Adidas Group's divestiture of Reebok, the new chief executive of Puma, Bjørn Gulden, declined to comment on recent speculation that its parent company, Kering, may want to sell its 86 stake in the Wild Cat. Observers feel that VF Corp. ...
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Asics reports a net profit margin of 9.2%
Asics reported that its sales reached 265,097 million yen (€1,843.89m-$2,291.88m) for what it described as its second quarter but in fact amounts to six or nine months until the end of September (depending on the subsidiaries). The discrepancy is due to a change in the fiscal year, which is preventing ...
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Asics accelerates in Europe
Asics Europe reports a 12 percent currency-neutral sales increase across the Europe, Middle East and Africa (EMEA) region for the first nine months ended Sept. 30, excluding Haglöfs. Sales were up by 13 percent in running shoes and by 31 percent in running apparel, with particularly strong growth in the ...
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Mizuno performs well in Europe
Currency-neutral increases of 7.2 percent in Europe and 73.5 percent in Asia-Pacific outside Japan partly offset declines of 4.8 percent in Japan and 11.1 percent in the Americas for Mizuno Corp. in the first six months of its financial year, ended Sept. 30. Globally, sales increased by 1.9 percent in ...
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Strong progress for Basicnet
Basicnet, parent company of Kappa, K-Way, Superga and other brands, has reported a 9.42 percent increase in the aggregate sales of its licensees to €355 million for the first nine months ended Sept. 30. Basicnet says it corresponds to retail sales of about €630 million.Sales increased in the period by ...
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Head shows some improvement, may go private soon
Head has scheduled a private general shareholders' meeting on Dec. 3 in Amsterdam to vote on a proposal to draw on its reserves to increase its share capital. The purpose of the resolution is to avoid the company's delisting from the Vienna Stock Exchange after Dec. 31 as the capital ...
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Dorel’s bike segment rises by 6%
Dorel Industries' Cannondale Sports Group (CSG) enjoyed strong growth in the U.K., the rest of Europe and Japan, contributing to a 6 percent organic sales increase for the third quarter in Dorel's bicycle group, which also includes the more mass-market-oriented Pacific Cycle segment. In reported dollars, the Recreational/Leisure segment of ...
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Black Diamond posts 24% sales growth
Black Diamond Equipment reported a 24 percent increase in sales to $54.9 million for the third quarter ended Sept. 30, driven by its Poc and Black Diamond brands as well as an increased fulfillment of pre-season autumn bookings. The net loss from continuing operations was $0.4 million, compared with $3.6 ...
