Latest Headlines – Page 311
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Adidas fills Nordic void
Brian Grevy, a Danish executive who has spent 14 years with Reebok and Adidas, was appointed to head the group's activities in the Nordics from the start of October. The function of general manager for Adidas Nordic has been vacant since Henrik Bunge left to become chief executive at Peak ...
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Billabong counts its losses
While providing some more details about its new “transformation strategy,” Billabong International reported a big net loss of 275.6 million Australian dollars (€227.6m-285.9m) for the financial year ended June 30, compared with a net profit of A$119.1 million the year before, on 7.9 percent lower global revenues of A$1.55 billion ...
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Billabong sees 2.5 times higher profits by 2016
The new management of Billabong International, led by Launa Inman, has unveiled a new “transformation strategy” which, it claims, should lead the company to generate an annual operating Ebitda of at least 210 million Australian dollars (€173.5m-$217.9m) for the year ending in June 2016, at a total capital cost of ...
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Globe’s profit slips
Globe International announced net profit after tax of 0.1 million Australian dollars (€82,780-$103,690) for the year ended June 30, compared with A$1.1 million generated in the previous financial year. Net sales of A$82.3 million (€68.1m-$85.3m) were down by 6.2 percent, mainly due to the strengthening of the Australian dollar. In ...
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Tennis lifts Head
Brisk sales of tennis products have enabled Head to deliver another quarter of robust sales. After a surge of 17.1 percent in the first quarter, the Austrian company's sales jumped by 6.9 percent to €62.5 million in the second quarter. Adding up the two quarters, Head achieved a turnover of ...
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Mizuno performs well in Europe
Aided by double-digit growth in sales of sports footwear in Europe and the Americas, Mizuno lifted its turnover by 2.6 percent to 42.6 billion yen (€432.8m-$542.1m) for the first quarter of its fiscal year, until the end of June. This would have been an increase of 3.8 percent excluding currency ...
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Li Ning’s income crashes in radical cleanup
Li Ning's net profit plummeted by nearly 85 percent to 44.3 million yuan renminbi (€5.6m-$7.0m) for the first half of this year, as the Chinese sports brand tackled its inventory and sell-through issues by closing down about 1,200 of its franchised stores.The company's sales fell by 9.5 percent to nearly ...
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Exceed’s sales drop by 24.2%
The Chinese company, which markets the Xidelong brand of sports shoes and clothing, announced that its revenues for the second quarter ended June 30 declined by 24.2 percent to 562.0 million yuan renminbi (€70.8m-$88.3m) compared with the same period of last year. The company added that it expects revenues to ...
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Belle sees Chinese market recovering since March
Belle International registered an increase of 11.7 percent in operating and net profits for the first half of 2012, but as a percentage of sales, they were down to 17.5 percent and 14.0 percent, respectively. Among other activities, the Chinese footwear and sportswear group distributes through its stores such brands ...
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Easton-Bell’s action sports suffer in Europe
Easton-Bell Sports reported net sales of $214.1 million for the second quarter of 2012, an increase of 1.0 percent from the same period of 2011, made possible by team sports and cycling sales in North America, which offset a decline for action sports in Europe. The U.S. company trades under ...
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Europe weighs down on Dorel
The weaker euro dampened the sales expansion of the recreational and leisure unit at Dorel Industries, which encompasses cycling brands from Cannondale to GT, Sugoi, Schwinn, Mongoose and more. Its turnover inched up by 1.1 percent to $251.9 million for the quarter, with a negative impact of about 2 percentage ...
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Rough riding for Heelys
Heelys suffered a rough quarter, with sales down by 31.0 percent to $5.7 million. The U.S. wheeled footwear company was hit by high inventories at the retail level, leading to discounts and a sharp decline in its gross margin and earnings.The company's U.S. sales dropped by 32.9 percent to $1.8 ...
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Some sports brands shine in the Olympics
With the London Olympic Games barely over, the leading sports brands were already counting their marketing medals (no longer just gold, silver and bronze, but now also digital hits and fans) and preparing for the next edition in Rio de Janeiro in four years' time.Though there were many empty seats ...
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ManUnited had a poor stock market launch
Manchester United's initial public offering (IPO) did not yield the expected proceeds, as the price of the shares offered to investors on the New York Stock Exchange had to be cut ahead of the launch on Aug. 10. Due to skepticism from investors, the shares were listed at $14, below ...
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Tiny sales increase at Asics
The wariness of consumers amid an uncertain economic landscape was blamed for the sluggishness of Asics' sales in the three months until the end of the June, which is the first quarter of its fiscal year. The Japanese sports group's sales inched up by 1.1 percent to ¥66,105 million (€680.7m-$843.5m) ...
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Basicnet’s half-year sales rise by 7.3%, margins decline
Basicnet achieved good growth at the global level through its portfolio of brands in the six-month period ended June 30, with aggregate sales at €213 million, up by 7.3 percent from the year-ago period. The figure includes direct sales – mostly in Italy – and licensees' sales under its various ...
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Manchester United: IPO and new shirt sponsor
Manchester United set the terms for an initial public offering on the New York Stock Exchange on July 30. It proposes to sell 16,667,667 shares at between $16 and $20 each, valuing the English club at up to $3.3 billion.Half of the shares will be issued by the club while ...
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Johnson Outdoors reports growth, except for diving
Johnson Outdoors reported a 5 percent increase in total net revenues to $128.6 million during the third fiscal quarter ended June 29, compared with the same quarter a year ago, with new products generating more than 40 percent of total sales. Currency translations had a negative 2 percent impact on ...
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New merchandiser for Skullcandy from Burton
Skullcandy has hired Sam Paschel as executive vice president for product development and merchandising, effective Sept. 14. He succeeds Dan Levine, the company's chief merchandising officer since 2008, who resigned on Aug. 1 to pursue a new opportunity. Paschel was most recently senior vice president of marketing for Burton Snowboards. ...
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Rapha goes for physical retail
Rapha, which is probably now the world's fastest-growing brand of cycling apparel, opened this past weekend its flagship store on Brewer Street in London, close to Regent Street. The eight-year-old British company is still selling 90 percent of its products through the internet, but this major investment is part of ...
