Latest Headlines – Page 426
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Big Progress For Basicnet’S Ebitda
BasicNet saw its operating profit before amortization and depreciation (EBITDA) dramatically soar to €17.38 million in the 9-month period ended last Sept. 30, compared with €4.01 million a year earlier. Cost efficiencies and higher revenues, especially from its Kappa and Superga brands, were the main factors of ...
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Big Jump For Le Coq And Lower Losses At Boards & More
The management of Le Coq Sportif predicts that its sales will double for the full financial year, as it ended the first nine months of its financial year with a sales jump of 74 percent to €33.7 million. The brand’s revival in France, with a witty campaign around the Rugby ...
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Adidas Partners With Diesel, Gears Up For Euro 2008
Adidas has confirmed that it will end its sponsorship of the T-Mobile cycling team after yet more doping revelations. The company stood by the team after the scandals around the Tour de France this year, but the final straw for Adidas was the latest testimony of Patrik Sinkewitz, a popular ...
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Sports Shoes, Apparel And Retailing Will Help Keep The Momentum For Geox
Geox’ sales results for the first nine months of the year and its Spring/Summer 2008 orders confirm that its growth momentum is strong and will at least last until the middle of next year. The ongoing development of its apparel line, which will eventually represent half of overall sales, and ...
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Met Approaches The North American Market And Signs New Deals
The leading Italian brand of bike helmets has set up a new global distribution center, described as an ultramodern facility, to service its direct clients and distributors more efficiently. In an original partnership with its distributors in Austria and Germany, Kalnai and Sport Import, respectively, it will deliver the goods ...
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Johnson Is Bullish On Europe
Johnson Outdoors has acquired Geonav, an Italian supplier of chart plotters, marine autopilots, fish finders and VHF radios based in Viareggio, for an undisclosed price. Its well-established distribution network should help the American group to expand more rapidly in Europe, where the American group has made other acquisitions lately. ...
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Spy’S Parent Company Improves
The management of Orange 21 admits that it still has work to do to complete its turnaround and to pave the way for new growth but feels that some important changes have already been successfully implemented. Product development has improved and production priorities have changed, making the manufacturing process less ...
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Ispo Partners With Nielsen Business Media
Nielsen Business Media, the American company that runs the Action Sports Retailer (ASR), Outdoor Retailer (OR) and Health+Fitness Business (HFB) trade shows in the USA, has agreed on a cooperation with Messe München International for the latter’s ISPO China fair. Observers speculate that the partnership may be extended to cover ...
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Forzani Will Take Over Athlete’S World In Canada
It is expected that Forzani Group, the Canadian licensee of Intersport International, will take over the Canadian Athletes World chain of athletic footwear stores as of next Wednesday. The price of the transaction could not be determined, but Forzani will have to negotiate a settlement with the creditors of Athletes ...
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Mike Ashley Challenges Nike Over Umbro
Mike Ashley is threatening to derail Nike’s friendly bid for Umbro, the British football company, after his sprawling sports retail and wholesale business, Sports Direct International (SDI), built up a stake of nearly 30 percent in Umbro last week. Umbro’s board approved a bid worth £285 million (€404.7m-$591.3m) by Nike ...
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Directors Come And Go At Sports Direct
Meanwhile, Sports Direct International has lost another non-executive director with the resignation of Chris Bulmer, who joined the board at the time of the company’s IPO earlier this year. She said she was leaving because of her concerns about poor corporate governance at SDI, which has infuriated many investors. ...
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Blacks Sells More, Buys Mambo
After margin-crushing clearance sales in March, Blacks Leisure Group, the British outdoor retailer, enjoyed a strong summer that enabled it to beef up its sales for the first half of its fiscal year and to become more efficient on many fronts. The improvements mark an encouraging upswing for the retailer, ...
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M&M Changes Ownership
M and M Direct, the leading online sports retailer in the U.K., has been taken over by a private equity firm in a secondary buyout worth an estimated £90 million (€128.3m-$186.8m). Chiefly selling leftover stock of international sports brands, M&M reaches annual sales of about £80 million (€114m-$166m). It was ...
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Macintosh Offers To Buy Brantano
Brantano, a large-scale player in Belgian and British footwear, is likely to be bought in the next weeks by the Macintosh Retail Group, a Dutch retailing conglomerate selling footwear as well as cycling, furniture and telecom products. Among other measures, Macintosh plans to optimize joint buying of sports footwear: The ...
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Mitiska May Sell Its Stake In As Adventure
Along with its divestment of Brantano, Mitiska hit yet more Belgian headlines with reports that it was preparing to sell off at least part of its stake in AS Adventure. Mitiska has a 50 percent stake in Belgium’s leading outdoor retailer, the other half being in the hands of AS ...
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Intersport Finland Opens More Budget Sport Superstores
Budget Sport, the new low-cost self-service format of Intersport, has not yet found an application in any other country until now, but Intersport Finland, which launched it successfully in the Spring of 2006, is pushing it strongly. Each sprawling over 3,000 square meters, two more will open in the Spring ...
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Quiksilver Reduces Exposure To Hardgoods
The leading action sports group has sold Cleveland Golf to the parent company of Srixon and is now seeking to reduce its involvement in the winter sports equipment business. However, Quiksilver’s management has made it clear that it wants to hang on to the key Rossignol brand in any case, ...
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Adidas Improves Net Profit, In Spite Of Reebok, As The Adidas Brand Booms
While Reebok’s sales continue to suffer from clean-up measures, the Adidas brand is displaying rude health, with sales increases in all regions for its latest quarter and an almost unprecedented rise in orders spanning all product categories. Adidas ended the quarter ...
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Sales Decline At Puma
Puma continues to suffer from a sharp downturn in its U.S. sales, but the company enjoyed comparable sales growth in other regions, an inflated gross margin and a remarkable jump of more than 12 percent for orders in Europe, the Middle East and Africa (EMEA) at the end of the ...
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Bigger Sales Drop At Head
As winter sports retailers were still reeling from last year’s disastrous season and struggling to purge leftover inventories, Head saw its winter sports sales reduced by about one-third for the third quarter. The company estimates that the European winter sports business as a whole dropped by 25 to 30 percent ...
