Latest Headlines – Page 379
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Blacks Asks Store Owners For Help To Survive
Blacks Leisure Group has finalized the terms of a new restructuring plan with Lloyds Banking Group that is intended to get the British outdoor and action sports retailer out of financial trouble and let it exit its loss-making stores. It also has upgraded and extended its bank facilities with Bank ...
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Jjb Raises More Equity Amid Widening Investigations
The board of JJB Sports announced that shareholders have overwhelmingly approved its proposed issue of 400 million new shares, intended to raise about £100 million (€111.7m-$164.9m) to keep the company afloat. The new shares started trading Tuesday morning on the London Stock Exchange. The share issue is a combination ...
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Still A Mixed Picture At Adidas
The worst is over, said Herbert Hainer, chief executive of the Adidas Group, in commenting yesterday on the financial results for the third quarter. While he would not discuss order backlogs, he said he was confident that the group would report a profit for the fourth quarter, albeit below the ...
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Puma Suffers Drop In Quarterly Sales
Puma’s sales began to slide in the third quarter of this year. The brand’s turnover fell by 5.5 percent to €673.4 million, a drop of 9.8 percent in comparable terms. The figure was reported by Pinault Printemps Redoute (PPR), the French furniture-to-luxury conglomerate that controls Puma, ahead of the company’s ...
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Amer Sports Bundles Central European Operations
The Finnish company is creating a new structure for Austria, the Netherlands, Switzerland and Germany. Effective Jan. 1, Amer Sports will have a Central Zone in place that will be headed by Armin Fuchs, until now country manager for the Netherlands and Germany, a position he will keep in addition ...
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Soft Equipment Sales Hurt Amer Sports
Despite continued growth in its relatively small softgoods business, Amer Sports reported a 5 percent drop in sales to €410.6 million for the period ended Sept. 30, accompanied by a 12 percent decline in net income to €28.8 million. The gross margin dropped by 1.3 percentage points to 41.7 percent. ...
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Jarden Expects Continued Drop In Sales But Margins Improve
The Outdoor Solutions division of Jarden Corporation had a 9 percent drop in sales to $565.7 million in the third quarter ended Sept. 30, but its operating income grew by 4.1 percent to $63.4 million. The outdoor unit’s results this year included $17.3 million in depreciation and amortization charges and ...
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Look Will Handle Rossignol Apparel
Rossignol has signed a licensing agreement with Look Cycle International, which sees the latter taking over the development of Rossignol and Dynastar branded clothing, with a goal of reaching annual sales of €40 million in due time. Look Cycle has also taken over the rights to the Look brand for ...
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Moncler Stops All Production
Moncler already stopped its French logistic operations last April. This pioneer in the production of down parkas, which was born in France in 1952, has decided to shut down its French production factory at Echirolles, near Grenoble, and to outsource all manufacturing operations, leading to the dismissal of about half ...
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Brown Shoes Performed Better Than Athletics In 2008
The casual segment of the so-called brown shoe market rose by 6.8 percent in U.S. dollars at the wholesale level worldwide last year, reaching an estimated level of $12.6 billion, with increases of 1.8 percent in the U.S. to $3.8 billion and 9.1 percent in the rest of the world ...
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The North Face Shines At Vf, Ebit Reaches A Record
VF Corporation saw its third quarter revenues drop by 5 percent to $2,093.8 million, with foreign currency translations accounting for 2 percentage points of the decline. Net income in the quarter fell by 6.8 percent to $217.9 million. VF’s gross margins remained near record levels for the period, ...
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Change In Brazil Weighs Down On Basicnet’S Licensed Sales
The aggregate sales of BasicNet and its licensees slipped by 0.3 percent to €239.1 million in the first nine months of 2009 due to a change of licensee in Brazil as well as the weakness of all South American currencies against the dollar and euro. The slide of the British ...
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Bad News For Shimano, Which Is Wary Looking Forward
In the first nine months of 2009, Shimano’s net sales fell by 21.2 percent to ¥134.4 billion (€1.00bn-$1.48bn). The operating income suffered more, dropping by 51.2 percent to ¥13.7 billion (€102.4m-$151.2m), as did net income, down by 57.8 percent to ¥7.9 billion (€59.1m-$87.2m). In bicycle components, the company ...
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Callaway Sees The Majors Gaining Market Share In A Tough Market
For the third quarter ended Sept. 30, Callaway Golf reported an 11 percent drop in sales to $190.9 million. It also widened its net loss, with a negative $16.1 million compared with a loss of $7.4 million in the same period last year. The gross margin fell by 6.3 percentage ...
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Acushnet Sees Golf Market Down By 12-15%
Acushnet expects the global golf market to be down by 12 percent to 15 percent for 2009, but this company, which is Fortune Brands’ golf division, should do better. In the third quarter, it had a 9.5 percent drop in sales to $278.6 million in the third quarter, or a ...
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Volcom Beats Guidance With 16% Drop In Sales
Revenues declined by 15.9 percent to $93.9 at Volcom for the quarter ended Sept. 30, but that was $9 million better than the company’s most optimistic expectation. Net income dropped by 19 percent to $13.3 million. The gross margin grew by 2.2 percentage points to 51.6 percent. In Europe, ...
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Cybex Reaches Outside Health Clubs
Sales fell at Cybex International by 18.9 percent of $29.0 million for the third quarter ended Sept. 26, while net income plunged by 76.2 percent to $81.0 million. Cardio equipment dropped by 15 percent to $16.4 million, while strength equipment weakened by 26 percent to $10.1 million. “Other” went down ...
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Timberland Posts Higher Profits And Some Sales Increases
A turnaround is finally in sight. The revenues of Timberland were flat at $421.8 million in the third quarter, but rose by 1.7 percent excluding foreign currency effects, which decreased the total by about $9 million. The sales figures reflected strong growth in boots in Europe and in the SmartWool ...
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Sales Fall Less Than Expected At Columbia, Which Suffers In Russia
Columbia Sportswear saw revenues decline by 4.0 percent to $434.5 million for the third quarter ended Sept. 30, and net income fell by 19.6 percent to $46.9 million. However, the sales decline was more than $30 million better than forecast. The company attributed this to relatively cold weather and higher-than-expected ...
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Another Good Period For Fenix Outdoor
Fenix Outdoor, the company behind brands such as Fjällräven, Tierra, Primus and Hanwag as well as the Swedish retail chain Naturkompaniet, posted strong figures for the first nine months of 2009. In the period from January to September, total net revenues were up by 17 percent and reached 874.4 million ...
