Latest Headlines – Page 299
-
Article
Ispo Beijing provides direction in fast-moving Chinese market
While there are fears that the fast-growing Chinese outdoor market could face some of the same issues as the country's glutted sports market, the buzz at the ninth edition of Ispo Beijing remained strongly upbeat: The fair bustled with a growing number of visitors thronging increasingly slick and busy stands.The ...
-
Article
Action sports on the rise at Ispo Beiing
Protest was one of the companies that drew throngs of visitors at a large stand at Ispo Beijing earlier this month, as part of the fair's bustling action sports area.The Dutch snowboarding brand teamed up in China two years ago with BTS Shanghai, which operates as a licensee. The two ...
-
Article
Shrinking sales and profits for China’s 361°
361 Degrees International, a Chinese sports brand chiefly targeting small-town consumers, saw its sales tumble by 11 percent to 4,950.6 million yuan renminbi (€610m-$796m) last year. As the company simultaneously invested in marketing and a range of measures to improve sell-through at its franchised stores, its net profit shrank by 37.7 ...
-
Article
…and at Peak Sport
Peak Sport Products was one of the Chinese companies that suffered the most spectacular declines in income last year. Its sales were down by 37.5 percent to 2,902.9 million yuan renminbi (€357.7m-$466.5m) and its net profit altogether collapsed, down by 60.1 percent to RMB310.6 million (€30.2m-$49.8m), as Peak adjusted its ...
-
Article
Vincenzo Mancini buys back Cisalfa
The family of Vincenzo Mancini, the 59-year-old entrepreneur who founded Cisalfa Sport in 1977, has bought it back through a holding company called Challenge 2012, after half a year of negotiations. He had sold Cisalfa in 2006 to a private equity fund, Investitori Associati, but he had kept a 29.9 ...
-
Article
Sports Direct continues to grow, enters Spain
Sports Direct International (SDI) is about to open its first Spanish store in Zaragoza during the month of April, according to a report that could not be confirmed by the time of going to press. The company's move into the Spanish market can be seen as a logical step after ...
-
Article
Go Sport banks on franchising and the internet
The French sporting goods retailing group is looking at store franchising and online sales as a less costly way to expand the presence of its Go Sport and Courir chains in its domestic market and as an alternative to Décathlon and Intersport, which have higher market shares in the country. ...
-
Article
Late publication makes Karstadt figures hard to evaluate
Karstadt, the big German operator of 89 department stores and 28 specialty sporting goods shops, has finally presented its figures for its 2010-11 financial year, ended on Sept. 30, 2011. This came after federal authorities imposed a fine for late reporting as low as €2,500. Usually, companies are required to ...
-
Article
Amazon is eyed by German antitrust authorities
The Bundeskartellamt, the German antitrust authority, has opened an investigation into amazon.de's business practices in regard to retailers that sell products through Amazon's online platform. The general terms of the marketplace require that participating retailers will not offer their products any cheaper on other online platforms or in the retailers' ...
-
Article
WFSGI launches a 'blitzkrieg' against online parasites
Under the auspices of its legal committee, the World Federation of the Sporting Goods Industry (WFSGI) has launched a project intended to solve the problem of brand abuse over the internet, launching a sort of technological “blitzkrieg” against online parasites.The legal committee, chaired by the WFSGI's legal counsel, Jochen M. Schaefer, has found ...
-
Article
The Norwegian market grows by 2.3%
After a slight decline in revenues between 2010 and 2011, the Norwegian sporting goods retail sector recovered and set a new record in 2012. According to an annual survey conducted by the country's sporting goods industry association, Sportbransjen, which does not use our parameters for the definition of the market, ...
-
Article
Weak margins and extra costs sink Puma’s profit despite robust sales
Puma ended the past year with a robust quarter, enabling the company to reach its sales target for the year. But its income was hammered by sagging margins as well as the heavy costs of its restructuring plan, which is expected to lead to flat sales for this year.The company achieved ...
-
Article
Puma’s chief executive bows out with wide-ranging cuts
About 450 jobs are to be cut at Puma as part of the company's wide-ranging restructuring plans, which will cost €25 million more than budgeted. This amounts to about 4 percent of the group's staff, which reached a level of 11,290 people at the end of last year.Franz Koch, the company's ...
-
Article
PPR seeks new managers for Puma
In divulging the results of PPR for the past financial year, top executives of the French group reiterated its position that Puma should recover its profitability before contemplating any new acquisitions in the sports or outdoor sector. The results of PPR's Sports & Lifestyle segment have not been as good as those of its Luxury ...
-
Article
VF posts strong results, driven by Vans
VF Corporation posted a sales increase of 15 percent to $10.9 billion in 2012, equating to a 17 percent rise in constant dollars. Timberland's acquisition accounted for 6 percentage points of the total growth.The gross margin improved by 0.75 percentage points to 46.5 percent, while the operating profit grew by ...
-
Article
Billabong incurs a half-year loss
Billabong International reported an after-tax loss of 536.6 million Australian dollars (€419.9m-$550.2m) for the first half of its financial year, ended last Dec. 31, compared with a A$16.1 million profit during the same period the year before. The net result would have been positive without A$567.0 (€443-$578m) million in onetime writedowns in the ...
-
Article
Outdoor is a dark spot in Wolverine’s sales
Wolverine Worldwide reported a lower than expected net loss of $3,499,000 for the fourth quarter ended last Dec. 29, which compares with a profit of $23,011,000 in the year-ago period, and its net earnings for the year were down to $80.7 million from $123.3 million in 2011.The group would have ...
-
Article
Jarden posts mixed results
The Outdoor Solutions segment of Jarden Corporation recorded a sales increase of only 0.5 percent to $617.9 million for the fourth quarter of 2012, ended on Dec. 31, but its operating profit (Ebit) rose by 5.3 percent to $41.2 million. Excluding restructuring costs, depreciation and amortization, the segment's operating earnings ...
-
Article
Accell posts 23% sales growth
Accell Group recorded a sales increase of 23 percent to €772.5 million in 2012. The acquisitions of Raleigh, Currie and Van Nicholas, along with rising sales of electric and innovative sports bikes, contributed to the higher turnover. Acquisitions raised the number of bicycles sold to 1,605,000, from 1,115,000 in 2011.On ...
-
Article
Shimano posts double-digit growth
Shimano is predicting a sales increase of 3.7 percent in 2013, with increases of 4 percent for its bicycle components and 2 percent for its fishing tackle. In the past year, its total sales grew by 10.9 percent in 2012 to 245.8 billion yen (€2.0b-$2.7b), showing an accelerating trend as ...
