News Briefs – Page 245
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News briefs
Wolverine and ABG reportedly bid jointly for Reebok
Wolverine Worldwide has joined forces with the Authentic Brands Group (ABG) to make a bid worth “slightly more than” $1 billion for the takeover of Reebok, according to The New York Post. ABG’s current assets include Sports Illustrated as well as sports brands like Airwalk, Prince Sports and Volcom. The ...
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News briefsPuma launches new OP-1 PWRFrame sneakers line
Puma has introduced the OP-1 PWRFrame franchise, a new line of sneakers with a progressive, clean design and a futuristic feel. The brand will launch new drops every month. The upper combines more technical processes, like bonding and embroidery, with traditional overlay elements, for a streetwear look. Neon accents appear ...
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News briefs
Women’s Tour de France to return in 2022
Christian Prudhomme, manager of the Tour de France, has confirmed in an interview with the Guardian that there will be a women’s bicycle race in 2022 and that it will be held closely after the three-week men’s Tour. Further details on the race will be presented in October, which is ...
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News briefs
Management reshuffle at Sequential Brands Group
William Sweedler has resigned as executive chairman of the struggling Sequential Brands Group, which has been granted a waiver on its credit covenant defaults until June 7. He had taken the place of the former CEO, David Conn, after his departure in autumn. The board of directors has elected one ...
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News briefs
Iconix turns around, rising in Europe
The Iconix Brand Group turned around to a net profit of $4.2 million in the first quarter, boosted by a $15 million gain on the sale of the Lee Cooper trademark in China, as compared to a loss of $21.8 million in the year-ago period, where it reported impairment charges ...
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News briefs
Technogym sells Danish club management software firm
Technogym has announced the sale of Exerp ApS, a Danish company involved in the development of software for the management of club members, and its holding company, Amleto ApS, to a U.S. investment firm, Battery Ventures. Technogym will record a capital gain of €17.1 million on the €53.1 million price ...
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News briefs
Technogym grows by 10.2%, with B2C home fitness up by 129.2%
Technogym reported a revenue increase of 10.2 percent to €128.7 million in the first quarter of 2021, with a growth of 13.1 percent in constant currencies. In terms of euros, they rose by 26.0 percent in Italy, by 1.3 percent in the rest of Europe, by 29.1 percent in Asia/Pacific ...
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News briefs
Nike sees HQ staff working at the office three days a week
Nike’s vice president of workplace design and connectivity, Jeff Nichols, has sent out in an email to affected employees, laying out a new in-office work policy for the company’s global headquarters in Beaverton, Oregon. Nike is to begin raising capacity, services and amenities there as of next month, while continuing ...
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News briefsHelly Hansen maintains sales momentum
In the first quarter ended April 3, Helly Hansen’s revenues increased by 12.2 percent to 136.3 million Canadian dollars (€92.8m-$112.1), growing at rou ghly thesame pace as in the fourth quarter of 2020 despite continuing store closures and restrictions on store operations because of the Covid-19 pandemic. Canadian Tire, which ...
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News briefsE-bikes push Giant to new records in sales and profits
Taiwan’s largest bicycle manufacturer, the Giant Manufacturing Group, reported record revenue and profits in the first quarter. Sales rose by 54.8 percent to 20.62 billion Taiwan dollars (€610.2m-$737.4m), and net profit jumped as much as 170 percent to TWD$1.7 billion (€50.3m-$60.8m). In private label (Cadex, Giant, Liv, Momentum brands), ...
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News briefs
Under Armour debuts omnichannel presence in the Middle East
Under Armour is launching an e-commerce platform in the Middle East, in collaboration with two technology partners, Emakina and Fluent Commerce. The American sports company has already more than 30 brick-and-mortar stores in the Middle East region, where it is distributed by Athlocity, including a newly inaugurated flagship store in ...
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News briefs
Angling Direct’s former CEO, Darren Bailey, is leaving
Darren Bailey, the former CEO and managing director of Angling Direct, is leaving the company. Bailey, who moved from CEO to non-executive director in 2019, informed the board that he would not stand for re-election at the May 11 annual meeting. He has been with the leading British online and ...
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News briefs
Shares of Sports Direct’s parent reach a 52-week high
Frasers Group, which owns Sports Direct International and many other assets, has launched a new share buyback program, limiting the maximum aggregate purchase price at £60 million (€69m-$83m) for a total of up to ten million shares. It started on May 4 with the acquisition of 3,189 shares at an ...
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News briefs
Cisalfa expands its retail network after a 2.7% sales drop
Italy’s Cisalfa Sport Group suffered a relatively small decline of 2.7 percent in consolidated sales to €439.5 million in the financial year ended Feb. 28. Excluding revenues of €179 million from the Intersport business in Italy, Cisalfa Sport and its other integrated sporting goods retail chains had revenues of €366.4 ...
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News briefsClarus raises full-year guidance after Q1 sales jump
Clarus Corp, the parent company of Black Diamond, Pieps and Sierra Bullets, raised its sales and profit guidance for the full year after posting revenues of $75.3 million in the first quarter, up by 41 percent on a reported basis and 39 percent higher in constant currencies. Excluding Barnes Bullets, ...
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News briefsPuma has a new marketing head for Europe
Puma has made Benoît Menard its regional marketing manager for Europe. He will be working out of the Puma group’s headquarters in the Bavarian town of Herzogenaurach. Menard has been with the company since 2018, having previously spent five years with Adidas and another five with a French TV channel, ...
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News briefs
Sweden’s Stronger has a new owner
Stronger, a Swedish brand of women’s sports apparel, is now under the control of the Danish-Swedish venture capital firm Polaris, a specialist in Nordic mid-caps, which has won a bidding war to acquire a 51 percent stake in the company. The sales price has not been disclosed, but an anonymous ...
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News briefs
Shankland to stay with Adidas until 2027
Adidas’ executive board has extended the appointment of Martin Shankland as a member of the company’s executive board, responsible for global operations, for an additional five years, making his contract run until 2027. He has been an executive board member since 2019, playing a key role in the areas of ...
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News briefsAllbirds helps Adidas to develop its most climate-friendly running shoe
Working in remote mode in collaboration with Allbirds for 12 months, Adidas has developed its most sustainable performance running shoe. The first 100 pairs of the co-branded model, whose prototype is called Futurecraft Footprint, is being raffled off to members of Adidas’ Creators Club at the end of May. A ...
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News briefs
Rapala VMC completes a share buy-back
Rapala VMC Corp. communicated on March 25 that its board had decided to start buying back a maximum of 100,000 of Rapala VMC’s own shares, for a maximum outlay of €700,000. The buy-back of its own shares started on April 1st and ended on May 10. During this period, the ...
