Latest Headlines – Page 362
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Asics plans distribution changes in Europe, after big sales gains
Asics, the Japanese brand of running shoes, is holding talks with retail partners to alter its distribution strategy around Europe in the coming months. The company indicated that this would enable it to refine its distribution and improve service levels by putting the right products in the right stores, but ...
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Strong yen boosts Mizuno’s margins
Net income increased by 77.1 percent at Mizuno to ¥2.84 billion (€24.4m-$34.8m) for the financial year ended March 31. Revenues went up by 0.9 percent to ¥150.0 billion (€1,290.1m-$1,836.7m), but operating income jumped by 65.2 percent to ¥4.6 billion (€39.6m-$56.3m). Due in part to the appreciation of the yen, Mizuno's ...
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Head’s results deteriorate
Poor snow conditions, natural disasters and political unrest all combined to depress the revenues of Head, which were down by about 1.9 percent to €59.8 million for the first quarter of this year. The company had warned that this year should be tougher than last year.Head's winter sports division, with ...
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Fischer projects sustained growth
Excluding its sister company for apparel, Löffler, Fischer Sports' consolidated sales jumped by 20.3 percent to €159.3 million in the financial year ended Feb. 28, including some €24 million that were contributed by the domestic Austrian market, and the company's chief executive, Franz Föttinger, is anticipating further increases for the ...
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Deininger becomes Adidas’ marketing czar
At the Adidas Group, Hermann Deininger will see his realm enlarged again from the start of June, as he will become chief marketing officer for all ranges of the Adidas brand. Until now he held the same position for the Adidas Sport Style division, which he built up himself in ...
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Deters quits Kettler as it moves into China
Hans-Hermann Deters is going to leave as chief executive of Kettler at the end of July after doing a pretty good job at the family-owned company, which he has led since the beginning of 2007, running its sports hardware operations as well as its garden furniture and toy divisions. He ...
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New Eurochief and new retail plans for Etnies
Sole Technology is planning to set up a network of partner stores under the name of its star brand, Etnies, all over Europe after the relative success of a test store opened in March at Kingston upon Thames, in the U.K. Several retailers in the Netherlands, Spain and other countries ...
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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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K-Swiss’ momentum goes on in the U.S.
Continuing the momentum established in the previous quarter, K-Swiss' revenues rose by 10.2 percent to $72.6 million in the first quarter ended March 31, driven by a 31.4 percent increase in domestic revenues to $31.5 million. Judging from a 45 percent improvement in orders, the rally should continue: K-Swiss expects ...
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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 ...