Latest Headlines – Page 313
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Go Sport appoints a new boss, after a new loss
The board of directors of Groupe Go Sport has announced the appointment of Loïc Le Borgne as its new general manager, to replace François Neukirch. Age 51, Le Borgne has 30 years of experience in retailing, 21 of which he spent with the hypermarket group Auchan. He joins the French ...
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Mixed picture for German sports retailers
The European football championships and other factors helped the two major German buying groups improve their sales in the first half of this year. Another boosting factor was the fact that the first half of 2011 was particularly bad.The German retailers who are affiliated with Intersport saw their sales decline ...
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Brazil’s major sports retailer returns to profit
After a careful new audit of its accounts, Grupo SBF, which owns the Centauro and By Tennis chains of sporting goods stores in Brazil, has reported a net profit of 44.4 million reais (€17.9m-$21.9m) for 2011, against a loss of R$22.2 million the year before. Sales and profits have been ...
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Billabong finds TPG’s new offer insufficient
Texas Pacific Group (TPG) has offered to pay 1.45 Australian dollars per share, or a total of A$694.5 million (€588.9m-$712.9m), for Billabong International. The offered price is 32 percent higher than the value of Billabong's shares prior to the announcement last July 24 of TPG's new proposal, but lower than ...
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Jarden’s outdoor down by 3.2% in the quarter
Reporting its results for the second quarter ended June 30, Jarden Corporation said that the revenues of its Outdoor Solutions unit fell by 3.2 percent to $747.3 million, compared with the same period in 2011. The management blamed weather and economic issues in Europe, tough comparisons with one year ago ...
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Columbia posts improved quarterly results
Columbia Sportswear reported an increase in consolidated net sales of 8 percent to $290.4 million for the second quarter, and the company's seasonal loss declined by 42 percent to $7.9 million. Changes in currency exchange rates caused had a negative effect of one percentage point.Sales growth in the quarter was ...
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The North Face continued its success story in the quarter
The North Face has been enjoying strong sell-through at retail, leading to pre-orders that were up by a low-double-digit rate at the end of June. This came after a robust performance in the second quarter, during which the outdoor brand's turnover increased by 14 percent in dollars and by 16 ...
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Deckers posts a higher loss, Teva declines
The parent company of Teva, Ugg, Sanuk and other brands reported a lower loss than expected for the second quarter ended June 30. It amounted to $20.1 million, up from $7.5 million in the same period a year ago, on 13.1 percent higher overall revenues of $174.4 million.While Ugg' ...
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Poor quarter for Lafuma
After rising for six consecutive quarters, the revenues of the Lafuma Group declined by 11.4 percent in the third quarter ended June 30 to €38.8 million, as compared to the same period a year ago.The management blamed unfavorable weather conditions and the poor economy in Europe. All the divisions recorded ...
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Retail pushes up Crocs, but Europe underperforms
Crocs' sales grew by 12.0 percent in the second quarter to $330.9 million, fueled by the Americas and Asia. In Europe, sales fell by 5.2 percent in terms of dollars. In local currencies, however, European sales dropped by 0.5 percent at wholesale and by 7.1 percent over the internet. They ...
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Accell’s profit rides downhill
Accell, the Dutch group that owns a gaggle of bicycle and fitness brands, saw its net operating result shrink by 15 percent to €23.2 million for the first half of the year, even though its sales increased by 19 percent to €445.6 million. This included organic sales growth of just ...
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Callaway banks on new products and marketing
The product line that Callaway Golf is going to introduce for spring 2013 has been completely redesigned, and more new products are in the pipeline as the company's product development team is now reporting directly to the new chief executive, Chip Brewer. Also, the savings made by the previously reported ...
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Rapala’s sales inch up
Rapala reported net sales up by 3 percent from last year to €83.7 million for the second quarter of 2012, and up by 1 percent to €157.1 million for the first half. Sales were supported, in particular, by foreign exchange rates and a growing business in North America, where external ...
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Under Armour reports 27% higher sales
Under Armour's revenues increased by 27 percent in the second quarter to $369 million, compared with the same period a year ago. Net income grew by 7 percent to $7 million.For the apparel segment, net revenues in the quarter increased by 23 percent to $253 million, with good results in ...
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News on British golf from the Open Championship
The British Golf Industry Association (BGIA) unveiled its new logo at a lunch ceremony at the Royal Lytham & St. Annes Golf Club in Lancashire, U.K., on July 18, alongside the Open Championship. The BGIA is the lead trade body for golf products and the service industry in the U.K. ...
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Helly Hansen is sold to a Canadian pension fund
Helly Hansen, the Norwegian sports and outdoor brand, has changed hands again. Altor Equity Partners, the Norwegian investment firm that took over Helly Hansen in 2006 from Investcorp, has sold a stake of 75 percent to the Ontario Teachers' Pension Plan Board (OTPP), while retaining the remainder of its shares. ...
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Football gives an additional kick to Intersport
Retailers affiliated with Intersport International Corporation (IIC) across Europe raised their sales by around 4 percent overall in the first five months of this year, with variations from one country to the other, and the month of June went well, too. They benefited greatly from the European Football Championships just ...
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Dutch buying groups agree to merge
Intres and Euretco, the buying groups behind the Intersport and Sport 2000 banners in the Netherlands, have finalized their agreement to merge. This came a few days after the Dutch competition authority (NMA) gave its go-ahead to the tie-up, on the condition that the enlarged group spins off one of ...
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Li Ning makes new management changes, initiates a plan
Li Ning Company announced on July 5 that its longtime chief executive, Zhang Zhiyong, had stepped down, following the departure of other top executives in the last months. At the same time, the Chinese company has entered a three-year “transformation program” aimed at driving growth and improving performance. Zhang, who ...
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Li Ning is hit by Spanish failure
Several Spanish football clubs were scrambling to secure apparel for their teams after LN Plus Iberoamericas, the Spanish licensing and distribution partner of Li Ning, was declared bankrupt. The company had invested heavily in sports marketing, including sponsorship deals with prominent football teams, from Real Zaragoza to UD Las Palmas, ...
