More about brands – Page 68
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News briefs
Some more details on Asics’ Q3 results
For the third quarter, Asics reported in its financial highlights a net profit of 6,723 million yen (€51.3m-$59.3m), up sharply from ¥2,858 million a year earlier. However, sales increased by only 11.2 percent to ¥112.7 billion yen (€860m-$990m) from 101.3 billion as compared to the same period of 2020, and ...
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Article
Canada Goose improves its guidance, citing momentum
Canada Goose reported an improved gross margin and a lower operating margin on a 19.6 percent increase in revenues to 232.9 million Canadian dollars (€161.9m-$187.1m) for its second quarter ended Sept. 26. Excluding the exceptional revenues from personal protective equipment recorded in the same period a year ago, comparable sales ...
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Article
Peloton cuts its sales guidance by $1 bn
Peloton Interactive lost more than one-fourth of its value on the stock exchange as the company slashed its sales guidance for the full financial year by up to $1 billion, predicting that revenues will range from $4.4 billion to $4.8 billion. Analysts were budgeting sales of $5.4 billion for the ...
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ArticleAsics’ growth softened in Q3
Asics recorded solid growth in sales and operating income in the nine months ending September 30, as the strong showing of its Performance Running business in North America, Europe and Greater China and cost-cutting efforts more than offset the continuing effects of Covid-19. For the third quarter alone, Asics reported ...
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Article
Sports & Leisure pull New Wave forward
The Swedish-based New Wave Group, which owns or distributes brands such as Craft, Cutter & Buck, Ahead, Orrefors and Speedo, reported record third-quarter profits as sales closed in on pre-pandemic levels, driven by a recovery in the Nordic countries and the U.S. The group’s Sports & Leisure division saw sales ...
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News briefsPuma opens new North American HQ
Puma has inaugurated new headquarters for North America. Located at Assembly Row in the Boston suburb of Somerville, the 150,000-square-foot office combines the staffs – about 450 employees – from two offices in Boston proper and Westford. It was designed by the architectural firm Gensler and built by Timberline Construction. ...
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ArticleOn to make running shoes from carbon waste
On, the Swiss brand of running shoes that recently went publicin New York, has announced a shift away from petroleum-based resources with the development of a new foam material called CleanCloud™. It is made from carbon emissions as a raw material. On is the first company in the footwear industry ...
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News briefsDorel Sports' Q3 revenues slip as supply-chain constraints bite
Dorel Industries said third-quarter revenue at its Dorel Sports segment fell slightly on supply-chain disruption and parts shortages, leading it to lower fourth-quarter expectations for the group as a whole. The company, which last month agreed to sell Dorel Sports to Pon Group for $810 million, said the segment’s revenues ...
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ArticleGoPro's Christmas sales won’t be hit by supply crisis after a good quarter
Indicating that it does not expect Christmas sales to be hit by supply-chain constraints, GoPro reported better-than-expected third-quarter results. The company posted a net profit of $311.8 million for the period, up from $3.3 million a year ago. Revenues grew by 13 percent to $317 million against GoPro’s own estimates ...
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News briefsAdidas scores high on S&P's sustainability index
Adidas has undergone a very positive ESG (environmental, social and governance) evaluation conducted by the ratings agency Standard & Poor’s (S&P), receiving a score of 85/100. It is the most recent of the 27 companies to obtain a public ESG profile, and the only one in the sports industry. By ...
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News briefs
Macron sponsors Basketball Australia
Macron announces a multi-year technical sponsorship deal with Basketball Australia, starting in January 2022 and covering all the men’s, women’s and junior teams. The dynamic Italian brand of teamwear will take the place of Peak Sports, the Chinese brand that sponsors the NBA in its own market. Macron already has ...
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News briefs
Norda puts a graphene membrane into a shoe
Norda, the new Canadian brand of running shoes, has come out with what it claims to be the first shoe that features a graphene membrane. A British company, Inov-8, had put the sturdy and lightweight material in its shoes before, but in their soles and midsoles. The new nordaTM 001 ...
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ArticleAcushnet raises forecasts for 2021
Acushnet Holdings Corp, the U.S.-based group behind the golf brands Titleist, FootJoy and Pinnacle and the Swiss sports apparel brand Kjus, reported an 8.0 percent increase in consolidated sales to $521.6 million in the third quarter ended Sept. 30, scoring better than what analysts had expected. On a constant-currency basis, ...
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ArticleChampion grew strongly in Q3
Hanesbrands reported increases in its global sales of Champion products of 20 percent in absolute terms and 33 percent excluding discontinued operations such as the C9 mass market program in the U.S., during the third quarter ended Oct. 2, with balanced performances between the U.S. and the rest of the ...
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News briefs
Boardriders reshuffles management
Brad Blankinship, who has been running Boardriders’ RVCA brand of apparel, has been appointed general manager of the Quiksilver brand. He succeeds Garry Wall, a 28-year veteran of Quiksilver who is leaving the group after running the brand for the last six years. David Brooks will be the new general ...
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ArticleExpanded: Allbirds doubles its valuation as it goes public
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...
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News briefs
Wilson sets up pádel business team
Wilson Sporting Goods has put together a team to improve its positioning in the pádel market, which is expanding internationally. To lead this team, it has selected its territory commercial manager for southern Europe, Ignacio Cabrera, a 25-year Spanish veteran in sporting goods who has worked for Quiksilver, Adidas and ...
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News briefs
Reebok’s founder gets Drapers’ Lifetime Achievement Award
Joe Foster, who founded Reebok along with his late brother Jeff in 1958, received this year’s Life Achievement Award from the British Drapers magazine, coinciding with the sale of the brand to the Authentic Brands Group. Foster stepped back in 1989, and the move made the front page of the ...
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ArticleUA upgrades guidance after a good Q3
Under Armour upgraded its guidance while posting better-than-expected results for the third quarter ended Sept. 30, leading to a jump of more than 18 percent in its stock price, close to its 52-week record of $26.45. The company’s net earnings soared to $113.4 million, more than twice the analysts’ consensus ...
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News briefs
Skechers may restructure its Asian business, making it worth $1.5bn
Skechers is considering various strategic options for its operations in Asia including a possible public offering on the Hong Kong Stock Exchange, says Bloomberg, quoting knowledgeable sources. An IPO could raise as much as $1.5 billion, according to the report, but Skechers would have to buy out first the shares ...
