Latest Headlines – Page 406
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Le Coq Has Lost Its Head
Le Coq Sportif, the French sports brand, has lost its head as Antoine Sathicq, its general manager, left the company. The former French country manager of Adidas had been heading up Le Coq Sportif since November 2005, after it was taken over by Airesis, a Swiss holding company, and he ...
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Diadora Extends License Agreement With Greenmaster Unit
Diadora has extended its license agreement with Greenfit, a unit of the Taiwanese group Greenmaster, for the production and distribution of fitness equipment and accessories. The deal was signed in November 2007 and was scheduled to expire in 2010, but the parties have agreed to extend it for three years ...
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J. Lindeberg Will Offer Skiwear, Too
J. Lindeberg, the Swedish designer brand, is busy putting the final touches on a new alpine skiwear collection for the 2009 Winter season. Items in the collection will be made available in selective 75 high-end outlets based in cities across Europe and in the USA – 10 of which are ...
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Völkl Licenses Tennis Business To Its U.S. Distributor
As of Jan. 1, Klip America will be the new global licensee of Völkl’s racquet business. For nearly 10 years, the license was in the hands of the Swiss-based Völkl Tennis GmbH, a company controlled on a 50-50 basis by Boris Becker, the tennis champion, and Hans Dieter Cleven, a ...
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Adidas Completes Share Buyback Program, Cuts Costs
The Three Stripes is taking steps to rein in corporate spending, according to an internal memo obtained by The Oregonian, an American newspaper. Adidas is imposing a hiring freeze, eliminating external meetings, consultants and seminars, and pushing to slash travel expenses by 15 percent for the 2009 fiscal year. Herbert ...
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Brunswick Won’T Rule Out Divestitures
Brunswick reported a $591.4 million loss on a 21.7 percent total revenue decline to $1,038.8 million in the third quarter ended Sep. 27 due largely to flagging boat and engine sales in nearly every region of the world. Management would not rule out the idea of selling either Life Fitness ...
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Mammut’S Growth Knows No Bounds; Parent Has New Boss
Mammut Sports Group, the outdoor business unit of the Conzzeta Group, posted 9.2 percent higher sales of 111.9 million Swiss francs (€77.3m-$96.5m) for the eight months ended Aug. 31. The sports group, which has 10 different brands including Hiker Supply, Mammut and Raichle, had higher sales in all regions, even ...
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Vf Corp. Quarter Remains Strong In Face Of Economic Problems
For the three months ended Sept. 30, VF Corporation saw income grow by 12.9 percent to $233.9 million, with sales up by 6.5 percent to $2.19 billion. The company’s Outdoor Coalition was clearly the biggest earner, with a 16.9 percent increase in operating income, led by 15 percent growth at ...
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Pessimistic Callaway Sponsors Timberlake
The American singer and actor Justin Timberlake has agreed to endorse and play with Callaway Golf equipment. Timberlake, who has a 6 handicap, hosts the Justin Timberlake Shriners Hospitals for Children Open, where he will use Callaway clubs, balls and bag. He is opening his own eco-friendly golf course in ...
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Acushnet Struggles, Reorganizes Nordic Management
Acushnet is expecting a decrease in operating income in the mid- to high teens for the full year. Fortune Brands’ golf business unit suffered a 20.0 percent decline in operating profit to $24.0 million in the third quarter ended Sept. 30. The segment, which consists of Titleist, FootJoy, ...
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Crocs Makes Its Presence Better Felt In France Through Gpg Company
Crocs Europe has officially presented its new sales agency for France, GPG Company, a French group with a significant portfolio of other footwear brands such as Dr. Martens, Replay, Gant and Bronx. The deal will take effect on Jan. 2, though neither company would comment on its duration. Crocs will ...
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Ispo Grows In China, Continues Cooperation With Eog
Messe München recently had a meeting with the European trade press in Zurich to discuss ISPO. As reported in SGI Europe’s last issue, Stefan Reschke, the sports show’s exhibition group director, moved over to become Messe’s regional representative for Austria and southeast Europe. He has been replaced by Markus Hefter, ...
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Slowing Economy Takes A Toll On Chinese Manufacturers
At the second edition of the Sports Source Asia fair in Hong Kong, 240 exhibitors from six different countries will showcase apparel, footwear and equipment over four days. This figure is 20 percent lower than the 300 exhibitors at the same event last year and also a clear indication of ...
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Gulf States Promote Sports As Booming Business
The United Arab Emirates is determined to become a leading destination for shoppers and sports enthusiasts. Siddarth Nanthur, senior project manager for IEC, which organizes the Sportex Middle East trade fair due to be held at the Dubai World Trade Center next Nov. 3-5, notes that 4 million tourists visited ...
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Adidas Adds Ashworth To Its Golf Line-up
TaylorMade-Adidas Golf (TMAG) has signed a deal to buy all the outstanding shares of Ashworth for $1.90 per share in cash, representing a total value of $72.8 million including the assumption of $46.3 million worth of debt. TMAG will carry out the transaction under the condition that a majority of ...
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The Global Financial Crisis Affects The Sporting Goods Sector
After more than a decade of economic prosperity, the ongoing credit crunch is having a ripple effect throughout the economy all over the world, and the sporting goods sector is one of the victims of the new situation. It is causing indebted consumers to buy fewer non-essential items – including ...
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The Situation Looks Really Dire For Jjb
JJB, the second-largest British sports retailer, came under savage attack last week as it lost the confidence of a leading credit insurer and bailiffs were sent out to collect unpaid rents. Amid extreme turbulence on European stock markets, the price of JJB shares fell as low as 12 pence, compared ...
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Blacks Is Not In The Mood For Leisure
Blacks Leisure, the leading British outdoor retailer, could hardly have picked a worse time to issue yet another profit warning: just a few days before stock markets took a nose-dive, Blacks said that it would report a much wider loss than previously expected for the first half of its financial ...
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Is Karstadt Sports For Sale?
A spokesman for the Arcandor group would not comment on speculation that it may sell its 28 Karstadt Sports superstores as part of a new refinancing deal under which Sal. Oppenheim agreed to acquire an unspecified shareholding at €2.60 a share through a 10 percent equity increase worth €58.9 million. ...
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More Management Changes At Intersport
As previously reported, Joël Armary has left as general manager of Intersport France after five years. His position has been eliminated. Laurent Boudet, chairman of Intersport France, will run it together with a secretary general, Philippe Jaillet, who continues as finance director, in charge also of legal matters. In addition, ...
