Latest Headlines – Page 410
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Carlyle Buys 48% Of Moncler In €220 Million Deal
The private equity firm Carlyle has agreed to buy a 48.0 percent stake in Moncler, in a deal estimated to be worth about €220 million, through a fund called Carlyle Europe Partners III. The contract still needs to obtain regulatory clearance and is expected to be closed by the end ...
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Lotto Links Up With Li Ning In China
The Italian company is targeting annual sales of €60 million through a network of about 600 single-brand stores in China by 2013 in sealing a major licensing agreement with Li Ning, the third-largest sports brand in the country behind Nike and Adidas. Starting from September, the 20-year deal should formidably ...
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Adidas Is In Olympic Shape But Reebok Is Not Out Of The Woods
The Adidas Group is in Olympic shape after a buoyant second quarter. Due to the weakness of the dollar and the tough American retail climate, the group suffered badly in the U.S. market but fared well elsewhere, powered by the impressive strength of the Adidas brand. The group’s sales ...
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Puma Rises By Double Digits But Orders Are Weak
Puma is still projecting single-digit sales growth in constant currencies for the full year, although the company’s expansion continued to run at a double-digit rate in the second quarter, with a reprieve in the U.S. market. As reported last month by ...
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Asics Weathers Economic Climate, Opens London Store
The Japanese company plans to open the first European ASICS flagship store on Argyll Street in London in October, and it is scouting the market for similar locations. For the moment, the company has Onitsuka Tiger stores in London as well as Berlin, Paris, Amsterdam and Zurich. The first ASICS ...
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Settlement Money Boosts K-swiss’ Profits For Quarter
K-Swiss’ net earnings for the quarter ended June 30 skyrocketed by 245.0 percent to $26.4 million because of the $30 million it won in a trademark settlement with Collective Brands. However, sales were down by 16.9 percent to $85.2 million, and orders fell by 32.4 percent to $104.2 million. This ...
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Under Armour’S Outlook Improves On Widening Footwear Range
The first soccer boots of the fast-growing American company will be seen on the feet of professional players in Europe next year. Details of the planned launch could not be obtained at the time of going to press, but one likely endorser is the German team, which Under Armour already ...
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Basicnet Reports Improved Results
In the first six months of 2008, BasicNet booked a 9.3 percent increase in aggregated sales to €142.8 million. At a constant currency rate, that increase was 13.5 percent. In the European Union, the Italian group’s sales rose to €111.5 million from €96.2 million a year earlier. In non-EU ...
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Dimming Outlook For Amer Sports
Amer Sports had to issue a profit warning last week as it became clear that sagging consumer demand was affecting more of its North American business than anticipated. The Finnish sports group therefore estimated that, excluding extraordinary items, its operating profit (EBIT) would end the year in the range of ...
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Margins Improve At Jarden Outdoor, Bolstered By Acquisitions
Operating earnings for Jarden Corporation’s Outdoor Solutions unit, made up of Coleman, K2 and Pure Fishing, rose by 132 percent to $74.8 million for the quarter ended June 30. Revenues were 70 percent higher than the same period last year at $708.6 million, but on a pro forma basis, excluding ...
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Callaway Sticks By Guidance Despite Uninspiring Quarter
Callaway Golf Company reported slight gains for the second quarter ended June 30. Net income was up by 1.3 percent to $37.1 million and the gross margin improved by 0.6 percentage points from last year. However, revenues were off by 3.7 percent to $366.0 million, with a 13.9 percent drop ...
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Restructuring Affects Brunswick
Brunswick Corporation took $83 million in restructuring charges for the second quarter ended June 28, leaving it with an operating loss of $17.2 million. Operating margins were down by 1.3 percentage points to 4.4 percent after a 10 percent drop in operating expenses for the quarter compared with the previous ...
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Results Are Way Down At Nautilus
Nautilus had a net loss of $8.9 million for the quarter ended June 30, compared with a profit of $1.1 million in the same period last year, as sales fell 6.8 percent to $95.6 million. The results for this year included $6.6 million in restructuring charges related to severance fees, ...
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Third-quarter Blues For Johnson Outdoors
Johnson Outdoors suffered from the poor U.S. economy in its third quarter, with sales down by 5.8 percent to $141.2 million. The third quarter is the most important of the fiscal year for the company, as it is when customers buy equipment for boating, diving and the outdoors for the ...
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Volcom’S Sales Are Up, Thanks In Part To Acquisitions
The American action sports firm has bought Laguna Surf & Sport, a retailer that operates two stores in Laguna Beach and Aliso Viejo, in Southern California. The acquisition should add extra sales of $900,000 for this year, sustaining the company’s growth along with its recent takeover of the distribution in ...
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Ugg Continues To Lead The Way For Deckers
Deckers Outdoor Corporation is selling UGG shoes as fast as it can. Retailers have ordered new UGG styles a month before they did last year, but the demand is higher than the company can fulfill at this point. Orders are so strong that Deckers has revised its guidance for the ...
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Crocs Had An Ugly Quarter
Crocs said it will be late in filing its report for the second quarter because of “significant changes” in its business operations,” but it sent out a detailed warning to investors that caused its stock price to sink by 45 percent. It is now trading at just over $4, compared ...
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Heelys Keeps Rolling Downhill
Sales for the wheeled-shoe company dropped by 75.5 percent to $18.2 million in the second quarter ended June 30 compared with last year. Gross margins were down by 12.4 percentage points to 23.0 percent, which the company said was because of higher distribution costs and significant discounts on old inventory ...
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Timberland Continues To Suffer
The deterioration of the U.S. consumer climate could not have come at a worse time for Timberland, which is preparing large-scale investments to redress its sagging sales. Instead of heading for recovery, sales continued to fall in the second quarter, with a decline of 6.3 percent to $209.9 million. ...
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Messe München Launches New Fashion Show
TheRedFlag is the name of the new concept for a fashion show that Messe München intends to launch in the summer of 2009. The show, whose name is an out-of-the-box creation, targets mainly trend-driven higher-end fashion, sports or footwear retailers in the German-speaking countries and beyond. The focus on Central ...
