Latest Headlines – Page 340
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SRAM will go public
SRAM International Corporation has announced that it has applied for an initial public offering of Class A common stock. It has not yet determined the price or the number of shares to be offered in the IPO.The proceeds will mainly be used to recapitalize SRAM following the acquisition of a ...
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Accell buys into the growing Derby Cycle
The large Dutch-based Accell Group has taken advantage of Derby Cycle's recent flotation on the Frankfurt stock exchange to buy a 5.7 percent in the company. The transaction was carried out through a wholly owned subsidiary, In2Cycling. The Dutch company described the purchase as an attractive financial investment, participating in ...
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Shimano keeps guidance after quake
Shimano maintained its 2011 sales guidance unchanged at ¥220 billion (€1.8bn-$2.7bn) despite the 8.9-magnitude earthquake that hit the country on March 11 and the subsequent nuclear disaster. However, it cut its forecast for net income to ¥20 billion (€166.2m-$244.0m) from ¥22 billion, while estimates for operating and ordinary income were ...
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Puma finds monetary value of emissions and water use
Puma and PPR HOME, the sustainability initiative of PPR Group, recently got the initial results of its Environmental Profit & Loss Account. It found that the production of raw materials has the highest greenhouse gas emissions and water usage among the various aspects of Puma's operations and supply chain. Puma ...
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France gets the Ryder Cup
The French golf business community celebrated last week after the Golf National course in Saint-Quentin-en-Yvelines, near Paris, was picked to host the Ryder Cup in 2018. The win should support the French golf federation's plans to quickly lift golf participation in the country, and it could provide a substantial boost ...
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PPR is acquiring Volcom
PPR is beginning to create a broader lifestyle group around Puma with the announcement of a merger agreement under which a dedicated subsidiary of the French group will make a cash tender offer for Volcom, the American brand of surf, skate and snowboard clothing and accessories. Indicating that other acquisitions ...
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Adidas grows strongly
The Adidas Group started the year with a remarkable growth spurt, as its quarterly sales jumped by 22.4 percent to €3,273 million for the quarter, an increase of 18 percent in constant currencies that was much higher than expected.The robust increase was achieved in spite of a tough comparison with ...
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Adidas managers switch roles between India and Greece
Subhinder Prem Singh, managing director of Reebok India, will become managing director of the entire Adidas Group structure in the country from the beginning of May, as the company has decided to further integrate its Reebok and Adidas units in India. This will occur along the same lines as in ...
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Skechers’ inventory clean-up takes longer than expected
The clean-up of Skechers' inventory, weighed down by excess toning shoes, could last longer than previously forecast and drag on into the third quarter of the year. Previously the company had indicated that the matter could be solved toward the end of the second quarter. At the end of March ...
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Acushnet’s comparable results rise sharply
Acushnet, the golf division of Fortune Brands that is up for sale, raised its revenues by 4.7 percent in the first quarter to $370.1 million, but the operating profit slipped by 2.5 percent to $43.3 million. Excluding restructuring and other charges, operating profit fell by 0.5 percent to $43.9 million.On ...
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Adams Golf rises by 35%
Adams Golf reported a 35 percent increase in turnover in the first quarter to $30.2 million, lifted by domestic and international sales, while net profits rose to $4.0 million from $1.7 million. International sales rose by 26 percent as part of the group's efforts to expand abroad. During the quarter, ...
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Helly Hansen goes direct in the U.K., earns more
Helly Hansen's U.K. subsidiary has brought the distribution of all its products in-house as of April 28, precipitating the bankruptcy of a wholesale company, Helly Hansen Distribution UK (HHD UK), that was selling its sports and survival items to independent retailers. The Norwegian company's U.K. office was previously handling directly ...
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Blacks improves but is not yet in the black
Blacks Leisure is gradually recovering from its troubled past. The leading British outdoor retailer, which has been seeking a buyer in vain at a reasonable price, ended its fiscal year on Feb. 26 with a pre-tax loss reduced to £5.3 million (€5.9m-$8.7m) from £43.6 million in the prior year.Simultaneously with ...
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Sport Alliance International makes small strides in Austria
Sport Alliance International (SAI), the new international arm of the Italian buying group by the same name (see SGI Europe of last Dec. 8), is finalizing contracts with about 30 independent retailers managing 50 sporting goods stores in Austria. Ready to provide financial guarantees for their payments, they have expressed ...
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Timberland’s sales disappoint
Timberland increased revenues by 10.1 percent to $349.0 million in the first quarter ended April 1, driven by Earthkeepers and Outdoor Adventure products. But the top line was significantly below market expectations for sales of more than $360 million.The group's North American revenues increased by 8.3 percent to $132.0 million ...
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Easton-Bell’s sales rise for fifth quarter in a row
Easton-Bell Sports reported a 4.8 percent sales increase to $203.4 million for the first quarter ended April 2, its fifth consecutive increase in quarterly sales, thanks to a strong performance of its action sports division.Action sports bolstered sales by 16.6 percent, driven by cycling helmets and accessories, higher sales of ...
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Garmin’s fitness sales rise by 30%
Sales at Garmin's fitness division rose by 30 percent to $56 million, outpacing other businesses, in the first quarter ending on March 26. This is the first time that the Swiss group, which specializes in personal navigation devices, reports its fitness and outdoor activities separately.The fitness business was supported by ...
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Bauer lifts sales by 47%
In its first report since going public on March 10, Bauer Performance Sports announced a 47 percent increase in sales for its third quarter ended Feb. 28 to 48.4 million Canadian dollars (€34.6m-$50.8m), driven by skates, helmets, protective equipment, composite sticks, roller hockey and apparel. However, the quarterly net loss ...
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Under Armour upgrades guidance
Under Armour upgraded its guidance for full-year revenues and earnings after booking a 36 percent increase in sales in the first quarter. The company now anticipates 2011 net revenues in the range of $1.37-1.39 billion, representing growth of 29-31 percent over 2010, and an operating income of $149-153 million, a ...
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Sports protection specialist seeks partner
Tryonic, a young and small Italian high-tech company whose back protectors have been adopted after testing by the Austrian and Swiss national ski teams for little or no sponsorship money at all, is looking for a financial or strategic partner to help it to expand its market presence internationally.The company's ...
