Latest Headlines – Page 401
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Sales Drop Less Rapidly At Go Sport
The final results of the second-largest integrated French sporting goods retailer for 2008 will only come out next month. For the time being, Groupe Go Sport reports a drop of 3.6 percent in its total revenues to €726.6 million for the year, including a drop of 5.4 percent in the ...
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Swiss Intersport Is Up By 5 Percent
Intersport PSC Holding, the company which stands for Intersport Switzerland, increased its revenues in its latest financial year by 5.1 percent on a pro-forma basis to 246 million Swiss francs (€166.3m-$214.3m), deriving mainly from central invoicing and fulfillment. The operating profit (EBIT) slipped from CHF 3.4 million to 2.1 million ...
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Equity Increase For Conte Of Florence
A Tuscan equity investment fund has acquired a minority stake in the Florentine company, known in the sporting goods sector for its golf, ski and sailing clothing, through a €5 million equity increase intended to help finance its expansion in Europe and the rest of the world, partly through joint ...
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Vfc Lowers Guidance
VF Corporation plans to cut costs aggressively after announcing new estimates for the fourth quarter of 2008, which should see earnings down by between 7 and 11 percent. Revenues probably went down by 2 percent instead of their previously predicted growth of 3 to 4 percent. VF expects sales for ...
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Vfc Realigns Its Coalitions
VF Corporation is realigning its management structure, giving more responsibilities to three relatively young executives in Europe and the USA following its latest acquisitions. In Europe, VF is setting up a new “coalition,” called Sportswear and Contemporary Brands EMEA, to foster the development of the recently acquired 7 For All ...
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Reef Takes Over The Distribution In Some Countries
Continuing a process that began in 2005 when it took over the distribution in France, Italy and most of Spain, shortly after becoming member of VF Corporation’s Outdoor Coalition, Reef has acquired it in the Canary Islands, Switzerland, the U.K. and Ireland, the Benelux countries and Germany. The new status ...
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Fila Outsources The Distribution In France And Spain
Fila’s former sales subsidiaries in France and Spain have been closed. Integrix, the new owner of the Fila brand for Europe, the Middle East, Africa and the Indian subcontinent, has appointed two distributors for the Fila brand in these two markets. Integrix has also appointed a new distributor for ...
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Rossignol Slims Down, Too
Bruno Cercley, the former chief executive of the Rossignol Group who took over the company from Quiksilver late last year, has placed its workers on temporary layoffs for the months of January and February to reduce inventories and to prepare the establishment of simplified and more cost-effective processes. In ...
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Quik Executives Take Pay Cuts
Quiksilver will take an additional charge of $150 million for the current first fiscal quarter to reflect the final terms of its sale of Rossignol. With a slow start in its own stores through mid-December, the group is also facing the prospect of an operating loss of $12-13 million for ...
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Jarden Upgrades Its Forecast
Jarden Corporation is reporting that its fourth-quarter revenue will probably be higher than expected. The company, which owns sports brands including K2, Marmot, Rawlings, Völkl and Coleman, had previously said sales from the period would be $1.3 billion, but it now says it will be slightly higher. For ...
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Head Has New People At Its Head; Closes U.S. Tennis Ball Factory
Head is asking its shareholders to vote at their general assembly in May for Günter Hagspiel as the new chief financial officer of the company. Hagspiel, who is currently controller of the group, has been with Head since 1996 in various positions, including the management of its U.S. operations. Hagspiel ...
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Management Changes At Hi-tec
Barney Gollings was appointed last week to the new position of international sales and marketing director at Hi-Tec, the U.K.-based outdoor, uniform and sports footwear brand. The move is part of Hi-Tec’s plans to beef up the resources of its international division, which deals with all countries not covered by ...
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Nike Works With Two Companies In Dubai
Nike has decided to allow two operators to develop Nike-only concept stores in the United Arab Emirates in order to accelerate its expansion in the fast-growing region of the Gulf Cooperation Council (GCC), where the sporting goods sector is expanding while becoming also more competitive. The company had previously ...
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Brazilian Government Probes Dumping From China
The Trade Protection Department of Brazil initiated an anti-dumping investigation against China last Dec. 29 for a variety of footwear products, responding to a complaint filed just a couple of months earlier by Abicalçados, the country’s shoe industry association. A similar anti-dumping suit against Vietnam was dropped after indications that ...
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Change Of Generation At Gore Footwear
Thorger Hübner recently stepped down from the top of Gore-Tex’ global footwear operations. The 65-year-old has retired after 27 years of leading W.L. Gore’s shoe business. Hübner has been replaced by Christian Langer, who has been with Gore for a decade and has served as Hübner’s partner at the top ...
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Oeko-tex Changes Measurements, Adds Dangerous Substances
The Oeko-Tex Association has changed its Oeko-Tex Standard 100, used for testing textiles for harmful substances. The limit values and test criteria are to be expressed in milligrams per kilogram (“mg/kg”) as of Jan. 1, changing from the previous parts per million (“ppm”). This way confusion will be ...
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Hohenstein Institute Expands Its Mission
The Hohenstein Institute, which is located in Bönnigheim, Germany, is rebranding itself to go beyond its reputation as a research and testing institute and become a world-respected provider of specialized services related to textiles. The institute will use the brand “Hohenstein” as an umbrella for all of its products and ...
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Snowboard Event Grows Globally
In its third year, World Snowboard Day just keeps getting bigger and bigger. On Dec. 21, 108 ski resorts from 26 countries participated, luring nearly 50,000 participants to the slopes for snowboard lessons, demos and product testing. The event started in 2006 with 34 resorts in 10 countries. ...
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Good Start For The Winter Season
As we mentioned before, the weather is having a stronger impact on the European sporting goods market than the economy. Just as the snow is falling copiously outside our office window near Paris, retailers in the alpine ski resorts are telling us about record sales of all kinds of winter ...
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The Industry’S Stock Market Value Plunged By 39.5% In 2008
Publicly listed sporting goods vendors and retailers did not perform better than the stock market in general. At $98.9 billion, their combined stock market capitalization as of Dec. 30 was 39.5 percent lower than at the same time one year earlier, completely wiping out the 16.9 percent gain they had ...
