Latest Headlines – Page 308
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Callaway downsizes full-year guidance
Callaway Golf Company has reported net sales in the third quarter of $148 million, down from $173 million in the year-ago period, and a net loss of $83 million, up from $44 million in the year-ago period. European sales were down by 24 percent in dollars to $19.2 million. They ...
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Big Scott invests in R&D firm, launches ski boots
Scott Sports Group has acquired a minority stake in I-Generator, a research & development platform in Portland, Oregon, to consolidate its investment in the running shoe sector. Managed by Swiss experts, the laboratory has been working for Scott for eight years to develop the company's collection of running shoes as ...
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Patagonia invests in coating technology
Patagonia has taken a 15 percent equity stake in AeonClad Coatings, a nanotechnology specialist, with whom it will develop water-repellent down garments. Patagonia first entered into a partnership with the firm, a portfolio company of Emergent Technologies, in 2010, when the two companies established an R&D laboratory in Austin, Texas, ...
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Kappa and Le Coq Sportif re-enter the Brazilian market
SPR Indústria Confecção, a rather special Brazilian producer of team sports clothing that has been moving strongly into the retail business lately, is going to reintroduce both of these brands in its domestic market, after signing long-term licensing and distribution deals with both of them.SPR claims to have become in ...
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German court allows Adidas’ Primeknit
As previously reported, on Aug. 28 the Nuremberg District Court granted a request by Nike to ban Adidas' sale of its new Adizero Primeknit shoes through a preliminary injunction. Adidas says it expects that the court will decide on Nov. 7 to set aside its initial decision and to rule ...
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The Lance Armstrong scandal raises questions about sports marketing
The scandal that erupted after the publication of a damning report by the U.S. Anti-Doping Agency (USADA) about doping by Lance Armstrong is reverberating around the sports marketing business, causing a scramble by sponsors to pull out of endorsements worth millions of dollars.As widely reported in the last days, the ...
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JJB goes under
About 2,200 jobs were lost as JJB Sport went into administration (a form of receivership) earlier this month and only 20 of the failed British sports retailer's stores were sold to Sports Direct International (SDI), JJB's erstwhile rival in the British sports market.As part of the deal, which should save ...
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Nike’s quarterly profit slips
While demand for Nike products continued to increase rapidly in the quarter until the end of August, the company's profit was under pressure due to lower gross margins and more expenses related to the international sports events held in the summer.The entire group's sales jumped by 10 percent to $6,669 ...
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A forum will debate Adidas’ fund for laid-off workers
At the Adidas Group's request, the Global Forum for Sustainable Supply Chains will convene a summit in Switzerland on Oct. 23 to consider options for a private insurance fund that can be made available for workers affected by factory closures and non-payment of wages and benefits. Called by Adidas “Provident ...
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Zeitz quits as Puma’s chairman, devotes more time to sustainability
The change of the guard at Puma was already planned when PPR acquired the company in 2007. It actually took a little longer than expected because of the recent economic turmoil and the need to ensure a smooth transition for Franz Koch, who became chief executive in July last year.Puma ...
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Billabong names a new chairman
The board of directors of Billabong International elected a new chairman, Ian Pollard, who will work with its new management, led by Launa Inman, to implement the “transformational” strategy it had outlined last Aug. 27. The move came immediately after Texas Pacific Group International (TPG) announced that it was withdrawing ...
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Décathlon expands in Middle East, Taiwan
Décathlon is opening its first store in Lebanon through its partnership with Azadea. The new franchised door is located in Beirut's Dbayeh mall. Azadea had also opened the first Décathlon sports store in the Middle East at the end of 2010, at the Mirdif City Center in Dubai. Décathlon has ...
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Bauer acquires Inaria and posts strong quarter results
Bauer Performance Sports has entered into a definitive agreement to acquire Inaria International, a global provider of team sports and active apparel. The purchase price will be C$7 million (€5.4m-$7.1m) in cash and the acquisition was expected to close on or about Oct. 17. The move will allow Bauer, a ...
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Wolverine completes PLG’s takeover, earns less
Wolverine Worldwide announced last week the slightly belated completion of its $1.24 billion acquisition of the Performance + Lifestyle Group of Collective Brands, which includes big shoe brands such as Saucony, Sperry Top-Sider, Keds and Stride Rite. For the parent company of Merrell, Sebago and other footwear brands, it is ...
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EU hears allegations of circumvention by Chinese bike makers
The European Commission has accepted a complaint filed by the European Bicycle Manufacturers Association (EBMA) in August into alleged circumvention of anti-dumping duties on Chinese bicycles. The allegations are that some Chinese manufacturers are illegally transshipping and repackaging their products in Indonesia, Malaysia, Sri Lanka and Tunisia, to avoid the ...
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Clinton and Napolitano show up at the new Technogym Village
Technogym inaugurated its new headquarters, the “Technogym Village,” on Sept. 29, in the presence of 800 guests representing institutions, the scientific and cultural world, entrepreneurs, and international media from more than 60 countries. The opening of the new state-of-the-art facilities, located near Cesena, in the northern Emilia-Romagna region, was accompanied ...
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The NBA gets busy abroad, especially in China
NBA officials have announced their plans to build a giant sports and entertainment complex on the outskirts of Beijing. The new 12,000-square-meter NBA Center will feature a gym, a themed cafe, a restaurant, a store selling team apparel, an interactive gaming area and a children's zone. Reportedly, it will be ...
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Global retail leaders grew by 10.2% in dollars in 2011
The major sporting goods retailers around the globe raised their sales by 7.2 percent in local currencies last year, just below the 7.6 percent growth that they had recorded in 2010, after declining by 1.5 percent in 2009 because of the global financial crisis. Translated into U.S. dollars, their combined ...
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JJB goes into pre-pack administration
Trading in the shares of JJB Sports, the beleaguered British sports retailer, was suspended on the London Stock Exchange at the start of this week as the company moved toward pre-pack administration, a form of bankruptcy that makes it easier to sell off specific assets of a company.Among the companies ...
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Online retailing gains momentum in Sweden
In Sweden, e-commerce is maintaining a high rate of growth, with the sporting goods and outdoor sectors topping other segments with growth of 27 percent in the second quarter of 2012. If the trend goes on, the internet may generate sales of about 1 billion Swedish kronor (€117.8m-$151.7m) for suppliers ...
