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Adidas posts record-breaking growth in profit Friday, 3rd May 2013
Adidas on Friday posted its highest-ever gross profit margin as a hike in prices in its own stores helped offset weak consumer spending across Europe. Sales at the world’s second largest sports apparel maker fell 2 per cent during the first quarter, attributed to a lack of major sporting events.
VF Corp revenues up 2% for first quarter Friday, 26th April 2013
Photo credit: Wrangler The Wrangler, Lee Jeans and Timberland owner on Friday announced first quarter revenues rose 2 per cent, in line with forecasts, to USD 2.6 billion dollars, compared with the same period in 2012. “VF’s first quarter performance is a great example of our strong business model,...
Sports Direct to award staff with £50,000 bonus Thursday, 25th April 2013
Sports Direct is set to award around 2,000 members of its staff in shares worth more than £50,000 this summer after the retailer hit its profit targets. Under the retailer’s staff bonus share plan put into place in 2008, an average qualifying employee earning £20,000 a year will be awarded a bonus that could be worth more than £54,000 at Wednesday’s share price of 454.4p.
Sales rise 14.3% for Sports Direct Wednesday, 24th April 2013
Sports Direct goes from strength to strength as the retailer on Wednesday posted a 14.3 per cent rise in fourth quarter sales. While its rivals struggle with low consumer confidence and tough trading on the high street, Sports Direct continued to buck the trend, with total sales in the nine weeks to the end of March rising to £317.4 million, up from £278 million the year before.
JD and Sports Direct reported to be preparing bids for Bench Tuesday, 23rd April 2013
Both Sports Direct and JD Sports Fashion are said to be preparing to submit bids to acquire the group behind the Bench clothing brand. According to the Independent, a number of sports retailers and private equity firms are in the process of tabling offers for Bench before the first-round deadline on 30 April.
JD Sports' full year profits fall 20% on back of Blacks Leisure acquisition Wednesday, 17th April 2013
JD Sports Fashion plc on Wednesday posted a 20 per cent fall in full-year profit, as the retailer focused on turning around its Blacks Leisure operations. Profit before tax and exceptional items for the year fell to £60.5 million in the 53 weeks to 2 February, in line with analyst forecasts for the period.
PPR announces Kering name change Friday, 22nd March 2013
What’s in a name? Global retail conglomerate PPR is set to make the final touches to its transformation into an international luxury brand after announcing a change in name and brand message. As of 18 June and subject to board approval, PPR will change its name to Kering (pronounced caring) and adopt a new symbol, of the “untamed owl”, along with a company signature that reads: “empowering imagination”.
Sports Direct to buy 116 Republic stores, saving 2,100 jobs Thursday, 28th February 2013
Mike Ashley’s Sports Direct will buy the stock, stores and website of fashion label Republic after it fell into administration earlier this month. According to SkyNews, Sports Direct will buy 116 of the 121 Republic stores, along with the retailer’s head office in Leeds from administrators Ernst & Young.
Sports Direct falls 7.4% after Mike Ashley sells shares Tuesday, 26th February 2013
Shares in Sports Direct fell 7.4 per cent after its founder and majority shareholder Mike Ashley sold part of his holding in the business. According to Reuters, Ashley sold 25 million shares on Monday at 400p each, reducing his stake from 68.6 per cent to around 64 per cent. The move comes after Ashley, who also owns Newcastle United, was linked to talks with House of Fraser over the possibility of acquiring a stake in the department store chain.
Former JJB director Sir David Jones charged by SFO Monday, 11th February 2013
The former director of JJB Sports, Sir David Jones, has been formally charged by the Serious Fraud Office (SFO). According to the Huffington Post, Sir David has been charged relating to fraud and making misleading statements to the markets. The former director has since been released on unconditional bail, with proceedings expected to be transferred to a Crown Court for 19 April 2013.