Latest Headlines – Page 298
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Chinese retailers urged to flatten supply chain
Chinese retail specialists are urging sports brands and their partners to flatten their supply chain in the Chinese market, as a means to reduce prices and to overcome the inventory issues that have been plaguing the market for the last two years.The advice was issued last month at the Sports ...
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Basicnet expands in Korea, incurs a loss
Acting through Basic Trademark SA, Basicnet has extended for ten years its licensing agreement in South Korea with Seoha Brand Networks for the Kappa and Robe di Kappa brands, with an option for renewal, at interesting conditions.Seoha, which belongs to the EXR Korea group, plans to raise the number of ...
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More reshuffling at Easton-Bell
Easton-Bell is going on with the reorganization of its management following the recent return of Terry Lee as executive chairman and chief executive. Mike Zlaket, who worked for the company for 22 years until 2011, returns as president of Easton Sports, replacing the departing Chris Zimmermann. Among other moves, Mark ...
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Former Nike man heads up Skullcandy
Skullcandy has appointed Hoby Darling, a Nike executive, as its new president and chief executive with immediate effect. The appointment comes less than two months after the U.S.-based headphone maker announced that former chief executive Jeremy Andrus had stepped down to pursue a job at a private-investment firm. Darling formally ...
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Scantrade takes over H2O in Scandinavia
Last year, the Danish sportswear brand H2O changed owners, as we reported at the time. It has now been decided that the Scantrade group will manage the brand in Sweden, Norway and Finland. It will have limited access to the related stock this summer and next autumn, but will begin ...
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PPR becomes Kering
Next June 18, the shareholders of PPR will vote at its annual meeting for a change in the company's name to Kering, marking the completion of its transformation into an international group of luxury, sport and lifestyle brands with a special corporate culture.Still controlled by the Pinault family, the French ...
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Adidas Group takes a financial hit for Reebok
The Adidas Group has taken a goodwill impairment charge of €265 million, finally acknowledging the reduced scope of the Reebok brand. This raised yet more questions about the prospects of the American brand, although the Adidas Group's managers insisted that Reebok should return to sales expansion in the second quarter ...
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But Adidas and Taylor Made are in top shape
While the impairment charge badly hit the Adidas Group's profit last year, the company's underlying performance remained robust, in terms of both sales and margins, albeit with a relatively weak last quarter.The group's turnover increased by 4.0 percent to €3,369 million for the quarter, a rise of just 1 percent ...
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Adidas details alleged fraud at Reebok India
The Adidas Group provided an update on the situation at Reebok India last week, paired with substantial details on the investigation into alleged irregularities at the company, which led to the sacking of its former managing director and chief operating officer last April.Herbert Hainer, the group's chief executive, said with ...
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German antitrust body investigates Adidas
The Adidas Group has confirmed that the selective distribution agreements it implemented from the start of this year in Germany were under investigation by the Bundeskartellamt, the German antitrust authorities. Disclosed last summer, these agreements call for the group's retail partners to provide a quality retail environment for Adidas products ...
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Profits continue to rise at Foot Locker
Excluding non-recurring charges, net earnings improved by 32.1 percent at Foot Locker in the fourth quarter ended Jan. 31. Sales went up by 14.0 percent to $1.71 billion. Comparable store sales rose by 7.9 percent for the period, driven more by basketball than running in the U.S. They were up ...
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Kesko wants to double Intersport sales in Russia
Kesko Oy, which is already the leading player in the Finnish sporting goods market, wants to double the sales of its Intersport stores in Russia to €50 million by 2015, according to the company's annual report. The company's food and home improvement retail operations in Russia are expected to raise ...
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Financial restructuring at Rucanor
There was some uncertainty in the Dutch sports market in the last few days about the fate of Rucanor, the country's most established general sporting goods brand, after a related company was declared bankrupt by a court in The Hague. Subsequent investigation has allowed us to clear up the situation to ...
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Management reshuffle amid weaker results at Quiksilver
The management reshuffle launched at the Quiksilver Group since Andy Mooney's appointment as president and chief executive continued with several high-profile changes last week, just before the company published declining results for the quarter that ran until the end of January.The company has appointed Tom Hartge as global head of ...
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Reportedly, Rip Curl is no longer for sale
The volatile state of the international investment community and of the boardsports market in certain countries have apparently led the founders and owners of Rip Curl, Doug Warbrick and Brian Singer, to shelve plans to sell the company, according to The Australian. The newspaper quoted Warbrick as indicating that the ...
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New GM at Oxbow
Oxbow, the French action sports brand owned by the Lafuma Group, confirmed that its general manager, Baptiste Caulonque, has left the company after less than one year at the helm. Oxbow said that Caulonque had been replaced by Daniel Gemperle, an executive of the Calida group, the Swiss textile company ...
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New Balance reports 22% growth in Europe
New Balance saw the sales of the New Balance brand expand by 22 percent in Europe, the Middle East and Africa (EMEA) last year, after an impressive sales hike of 35 percent in 2011. Without giving a specific figure for the actual turnover, the company said that the rise was ...
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K-Swiss sees margins improving but sales are still down
The American athletic shoe company, which is set to be taken over by E-Land of South Korea for $170 million, reports a 17.0 percent drop in its total sales to $222.9 million for the past year, but it net losses were practically cut in half to $34.8 million from $70.5 ...
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Dorel’s bike segment up by 12%
Dorel Industries reported strong results for its 2012 fourth quarter and the full year, mostly driven by the cycling sector. Revenues at the group's Recreational/Leisure segment, comprising Cannondale, Schwinn and other bike brands, increased by 12 percent to $226.6 million in the fourth quarter ended Dec. 30, and surpassed $900 ...
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London invests in urban cycling
The mayor of London, Boris Johnson, has unveiled plans to make London safer for cyclists through the implementation of an unbroken network of cycling routes with some Dutch-style segregated lanes, traffic restrictions and “Little Holland” style developments. A new 15-mile east-west superhighway, called “Cycle Crossrail,” will link the busy Westway ...
