adidas Golf Unveils New Footwear Models Featuring Revolutionary gripmore Technology

An Evolution in Golf Footwear, Exclusive Footwear Technology Delivers Unmatched Combination of Spiked and Spikeless Performance

Carlsbad, Calif. (April 21, 2014) – adidas Golf, an industry leader in innovation, technology and performance footwear, has announced the release of two all-new footwear models featuring proprietary gripmore® technology, an innovation in golf footwear cleat design that combines the performance benefits of spiked and spikeless footwear into one revolutionary technology.

The evolution of golf cleats has seen little change in innovation over the course of the last century. From metal spikes to soft spikes and most recently spikeless models, cleat technology has remained stagnant with little advancement.

The adidas Golf team set out to change the state of the footwear game, embarking on a mission to reshape the industry to create a groundbreaking category of shoe for all golfers. The result: adicross gripmore and pure 360 gripmore sport.

Unlike traditional spiked golf shoes that require receptacles to house cleats on the sole, gripmore cleats are directly injected onto lightweight mesh matting inclusive of hundreds of microspikes for even more traction and stability. In addition to unbelievable grip, both models are among the most green-friendly the company has ever created.

The first of two models to feature gripmore technology, the adicross gripmore utilizes 43 gripmore cleats and a total of 243 points of contact for the ultimate combination of versatility and performance. Featuring premium sport-styling with modern aesthetics and colors and a premium full grain leather upper, the adicross gripmore line has outstanding comfort and casual crossover appeal that delivers the performance golfers of all types demand.

2013 U.S. Open Champion and adidas Golf Tour staff professional Justin Rose debuted the adicross gripmore at the WGC-Cadillac Championship in March, where he praised the shoe’s crossover performance characteristics.

“I’m always looking for footwear that provides traction without compromising comfort, style or on-course performance,” he said. “With gripmore, I have the versatility of a spikeless shoe combined with the performance of a cleated shoe. It’s the best of both styles.”

With a more athletically-inspired design, the pure 360 gripmore sport features a waterproof mesh upper with climaproof®, 360WRAP technology and a powerband™ chassis for increased stability. Featuring 23 gripmore cleats and a total of 161 contact points, the shoe provides exceptional traction with the combination of comfort, protection and performance.

Available June 1, adicross gripmore will be available in three colorways: aluminum / running white / light scarlet, running white / running white / light scarlet and black/ running white / light scarlet at an MSRP of $150 USD.

Also available June 1, pure 360 gripmore sport will be available in two colorways: black / metallic silver / light scarlet and light onix / running white / light scarlet at an MSRP of $130 USD.

For more information on gripmore technology or to view the entire adicross gripmore and pure 360 gripmore collections, visit adidasgolf.com.


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Amer Sports has moved to new premises

Amer Sports Corporation's Headquarters and Amer Sports Finland have moved. The new premises are located in the Vallila Paja Quarters, Aleksis Kiven katu 17 A, 00510 Helsinki. The former industrial site combines both existing and new construction in the unique Vallila district.

Built in 1919, the protected red brick building was originally used for building railroad cars and has now been renovated for office use, supervised by the National Board of Antiquities of Finland. After the renovation the building has 5,300 m2, fully occupied by Amer Sports.

The aim is to achieve BREEAM (Building Research Establishment Environmental Assessment Methodology) environmental certification of Very Good rating for the building, the criteria of which has been taken into consideration in the reconstruction phase. The Very Good rating has not yet been achieved in any reconstruction project in Finland.

"We are very excited about the new premises. The Vallila Paja quarters provide us with a unique and dynamic environment, which ideally reflects Amer Sports' business in sports equipment, outdoor, apparel and footwear", said Päivi Antola, Director, Corporate Communications at Amer Sports.

"The new premes have been designed to meet our needs, enabling increasingly efficient operations."

Amer Sports' new office premises are located four kilometers from the city center, approximately 17 kilometers from Helsinki-Vantaa airport and less than two kilometers from the Pasila Railway Station.
 
AMER SPORTS

Amer Sports (www.amersports.com) is a sporting goods company with internationally recognized brands including Salomon, Wilson, Atomic, Arc'teryx, Mavic, Suunto and Precor. The company's technically-advanced sports equipment, footwear and apparel improve performance and increase the enjoyment of sports and outdoor activities. The Group's business is balanced by its broad portfolio of sports and products and a presence in all major markets. Amer Sports shares are listed on the NASDAQ OMX Helsinki stock exchange (AMEAS).


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The 115th Canton Fair - Emerging Markets Now the Focus of Increased Purchasing Power

GUANGZHOU, China, April 24, 2014 --The 115^th Canton Fair opened with a high note in Phase 1, with a healthy 10% increase in overseas buyers' attendance. Whilst European visitor numbers fell, those from Africa and Asia rose significantly, with Asian buyers accounting for 50%. A total of 24,581 exhibitors were present, 64 more than last year.

The Fair is increasingly important for African buyers: visitor numbers and orders are boosted by a stabilizing political climate. Exhibitors said first-day orders rose significantly over 2013, particularly construction materials and electronics. One buyer from South Africa had already ended negotiations with a supplier for a USD 2 million order for hardware products.

"The Canton Fair is a place to meet with old friends for buyers and manufacturers," said Yang Jun, GM of Hefei Rongshida Sanyo Electric Co., Ltd. Her company received orders worth RMB 300 million.

Sudanese Mohamyed said, "This is my fifth year here. Chinese goods are low-priced yet quality-assured and sell well in Sudan." Nigerian Chris added, "This is my second visit to look for TV accessories and home appliances."

Increasingly, African exhibitors find that the Fair allows them to find new business opportunities. Dalia Saad, VP Exports for Egyptian company Unionaire, a maker of kitchenware said, "The Fair is an international platform and the largest. Here we deal with the whole world."

Pakistani Muzzafar imports cycling jerseys, helmets, and gloves said: "Manufacturing is weak in Pakistan due to poor infrastructure, power shortages, and high fuel prices. This Fair is the largest of its kind across the globe."

According to Liu Jianjun, Canton Fair Spokesman, "African buyers are increasing in numbers and taking a very important position. We expect overseas attendance at this session to be around 200,000, similar to the 113^th Fair." Mr. Liu added, "The Spring Session coincides with African buyers' peak purchasing season."

The Fair has introduced new incentives to attract more buyers, most notably cooperating with China Southern Airlines to reduce airfare costs for Australian buyers, and encouraging exhibitors to invite new buyers. Cooperation with overseas chambers of commerce for media exchange also has been fruitful.

The organizers are looking forward to welcoming many more buyers and exhibitors to the second and third phases of the Fair between April 23 and May 5.

For further information please visit: http://www.cantonfair.org.cn/en/index.asp

SOURCE The Canton Fair

Honda Motor Co Ltd (ADR) (HMC) Releases FY14 Earnings Guidance

Honda Motor Co Ltd (ADR) (NYSE:HMC) updated its FY14 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of JPY330.14 for the period, compared to the Thomson Reuters consensus estimate of $321.03, American Banking and Market News reports. The company issued revenue guidance of JPY12750000, compared to the consensus revenue estimate of $11937.86 billion.

Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. downgraded shares of Honda Motor Co Ltd (ADR) from an overweight rating to a neutral rating in a research note on Friday. On a related note, analysts at Morgan Stanley downgraded shares of Honda Motor Co Ltd (ADR) from an outperform rating to a neutral rating in a research note on Wednesday, April 16th. Finally, analysts at Mitsubishi UFJ Morgan Stanley downgraded shares of Honda Motor Co Ltd (ADR) from an outperform rating to a neutral rating in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Honda Motor Co Ltd (ADR) presently has an average rating of Hold and a consensus price target of $40.49.

Honda Motor Co Ltd (NYSE:HMC) opened at 33.03 on Friday. Honda Motor Co Ltd has a 52 week low of $32.85 and a 52 week high of $42.96. The stock has a 50-day moving average of $34.83 and a 200-day moving average of $38.33. The company has a market cap of $59.530 billion and a price-to-earnings ratio of 9.96. Honda Motor Co Ltd (ADR) also was the target of a large increase in short interest during the month of January. As of April 15th, there was short interest totalling 2,166,036 shares, an increase of 64.5% from the March 31st total of 1,317,128 shares. Based on an average daily trading volume, of 1,422,573 shares, the short-interest ratio is presently 1.5 days. Approximately 0.0% of the shares of the company are sold short.

Honda Motor Co Ltd (ADR) (NYSE:HMC) last released its earnings data on Friday, April 25th. The company reported $94.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $88.01 by $6.60. The company had revenue of $3,097.20 billion for the quarter, compared to the consensus estimate of $3,220.42 billion. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.

Honda Motor Co, Ltd. (NYSE:HMC) develops, produces and manufactures a variety of motor products, ranging from small general-purpose engines and scooters to specialty sports cars.

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Kering wins the 2014 GLASA Award for its sustainability initiative

French global group Kering was awarded the Global Leadership Award in Sustainable Apparel (GLASA) for the development of the Environmental Profit and Loss account (E P&L) and its decision to implement this in its luxury and sport & lifestyle brands. Kering’s E P&L is a pioneering natural capital accounting and reporting system that places a monetary value on the environmental impacts that result from a business’s activities not only within its own operations but along the entire supply chain.
 
The motivation

When Kering and its brand PUMA developed and published the first-ever Environmental Profit and Loss account in 2011 for PUMA’s 2010 results, the companies placed natural capital valuation on the agenda for the apparel industry and put forth a bold and inspiring vision for the sector. Kering has since refined and improved the E P&L methodology and is currently implementing E P&L’s in its 22 luxury and sport & lifestyle brands, which means that the E P&L has evolved into a concrete management framework and financial tool that will be a benchmark for the entire industry. The jury awarded the 2014 GLASA to Kering in recognition of the group’s continuing bold and visionary leadership, and most importantly, for its long-term commitment to following through on what it has started.

“We are honoured to receive the GLASA Award for our E P&L and the work we are doing to promote Natural Capital accounting for businesses,” said Marie-Claire Daveu, Chief Sustainability Officer and Head of international institutional affairs, Kering. “We developed the E P&L so that we could have a deep understanding of our own impacts and dependencies on natural capital, but we also consider it essential for businesses more broadly to be accountable for their use of natural capital. This knowledge serves not only to minimize risks and impacts, but even more importantly to seize opportunities to create positive outcomes for business, environment and society.”

The GLASA is a sustainability and leadership award. Launched in 2013, it aims to inspire bold and courageous leadership in the apparel sector and to mobilize key stakeholders around promising ideas or practices that can substantially improve sustainability performance in the apparel industry. The theme for the 2014 award is Natural Capital Accounting.

GLASA is an initiative from The Sustainable Fashion Academy (SFA) and it is supported by organizations like The Antonia Ax:son Johnson Foundation for Sustainable Development, Association of Swedish Fashion Brands (ASFB), and the Prince of Wales International Sustainability Unit.

“Until we begin to assign monetary values to environmental and social externalities, market dynamics will continue to devalue nature and social welfare. But if we use the language and tools that markets and financial actors understand, we significantly increase our ability to demonstrate where real value lies. This is crucial for the apparel industry, which relies on natural and human resources for its continued success,” says Michael Schragger, initiator of GLASA and Director of SFA.

The advisory board consists of renowned leaders working with the global apparel industry. The advisory board acts as a jury when deciding upon the award winner.
 
GLASA Advisory Board

Kajsa Guterstam, Deputy General Secretary, ASFB
Carolina Sachs, General Secretary, The Ax:son Johnson Foundation for Sustainable Development
Helena Helmersson, Head of Sustainability, H&M
Anette Andersson, Investment Management, SEB
Alan AtKisson, CEO, AtKisson Group, Member, President's Science and Technology Advisory Council (PSTAC), European Commission
Sanna Due-Sjöström, Chairman, Nordic Waste Group & Senior Advisor, The Swedish EPA
Jonas Eder-Hansen, Vice President, Danish Fashion Institute
Jason Kibbey, Executive Director, The Sustainable Apparel Coalition
Cary Krosinsky, Executive Director, Network for Sustainable Financial Markets
Sarah Nolleth, Director, The Prince's Accounting for Sustainability Project
Laura Partridge, The Prince's Charities' International Sustainability Unit
Liesl Truscott, Director Europe & Farm Engagement Textile Exchange
Pat Nie-Woo, Director, Central textiles & Chairman of the Sustainable Fashion Business Consortium (SFBC),
 
The Environmental Profit and Loss account

The E P&L provides a full analysis of a company’s footprint in the key areas of water use and water pollution, waste, greenhouse gas, other air emissions and land useand places a monetary value on it, which then offers a clearer understanding of the relationship between the business and natural capital. Kering and its brand PUMA developed and published the first-ever E P&L in 2011 for PUMA’s 2010 accounting year and Kering is currently implementing E P&L’s in its 22 luxury and sport & lifestyle brands to consolidate a Group E P&L in 2016.

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Adidas Shifts Production From Strike-Disrupted China Factory

Sportswear firm Adidas AG is shifting some orders from a factory in south China that has been at the centre of one of the country's biggest labour strikes, underlining a rising challenge for firms doing business in China where an increasingly savvy workforce is pushing harder for its rights.

Thousands of workers at a factory in Dongguan in the Pearl River Delta run by Hong Kong-listed Yue Yuen Industrial Holdings , the world's largest shoe maker, have been on strike for more than 10 days demanding improved social insurance payments, better pay and fairer contracts.

"In order to minimize the impact on our operations, we are currently reallocating some of the future orders originally allocated to Yue Yuen Dongguan to other suppliers," a China-based Adidas spokeswoman said in emailed comments to Reuters.

Adidas has no plans to sever ties with the Dongguan-based plant, and the majority of any new supply would come from within China, the spokeswoman added. "China is, and will continue to be, a strategic sourcing country for us."

Yue Yuen executive director George Liu declined to comment on Adidas' decision or on whether other clients were making similar moves. The plant has around 40,000 employees and also supplies rival leisurewear brands such as Nike Inc. Yue Yuen said it made around 300 million pairs of shoes last year.

"We will not make any comments in regards to our customers," Liu said in an email sent to Reuters on Thursday.

STORE PROTEST

About 20 protesters from labour rights groups in Hong Kong protested at Adidas' local office on Thursday morning, demanding the company work with Yue Yuen to compensate workers and help release those who have been detained. The protesters also went to nearby Adidas, Nike and other stores of brands supplied by Yue Yuen to voice their demands and hand in an open letter.
Earlier this week, a prominent Chinese labour activist went missing after trying to help Yue Yuen workers organize their case. His wife suspects he was detained by state security agents.
China's declining labour force has given workers greater confidence to demand their rights. The country's working age population shrank by almost 6 million in the past two years to 920 million, National Bureau of Statistics data show.

Dozens of workers protested against Wal-Mart Stores Inc in Hunan province after the U.S. grocery chain said last month it was closing a store there - a small, but important case highlighting the growing activism among Chinese workers. 

Reporting by Adam Jourdan in SHANGHAI and Donny Kwok and Grace Li in HONG KONG; Editing by Ian Geoghegan By Reuters

Related informations:
- GlobalizationMonitor on facebook
- world.einnews.com


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etnies Expands Scout Collection for Summer

The Scout Sandal pictured is super comfortable and so durable it will never lose its shape or pack out. More info on the Scout is available here: http://etnies.com/shop/scout-sandal/camo/

etnies is committed to taking steps towards sustainability. The STI Evolution Foam™, used in the Scout and Scout Sandals, is made by a unique molding process that both eliminates waste and improves efficiency.

The etnies Scout is an addition to the Buy A Shoe Plant A Tree initiative, where for every pair of shoes sold a tree is planted in the rainforests that provide oxygen to the world with the Trees for the Future.

For more info, visit: etnies.com/buyashoeplantatree.



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adidas Originals by Mary Katrantzou

adidas Originals to Collaborate with Mary Katrantzou for Autumn/Winter 2014

HERZOGENAURACH - The design pioneer and queen of prints has teamed up with adidas to present adidas Originals by Mary Katrantzou, a capsule collection of innovative apparel and footwear in the designer's iconic, hyper-color, kaleidoscopic patterns.

"I'm really excited to be working with adidas on a line of apparel and footwear. I grew up, like so many other kids around the world, wearing adidas sneakers and I'm really excited about bringing my vision to such a global brand. They have a fantastic heritage and their ability to innovate in sportswear makes them the perfect partner for us to work with in this market." Mary Katrantzou

Emerging from the boldly creative British style scene, Katrantzou has established herself as a global fashion force, most recently having delivered a powerful, critically acclaimed fashion collection for the Autumn/Winter 2014 season.

For adidas Originals, Katrantzou's vision is translated in apparel and footwear with a feminine strength, distilling the essence of her graphic vision.

"The collaboration between adidas and Mary Katrantzou merges theexceptionnal talent of one of the most interesting designers of today and acompany that embraces many different cultures from sports, pop, music andfashion. I admire Mary's extraordinary sense of printing techniques, colours andsilhouette that will bring another amazing new aesthetic to the adidas originals women's collection." Dirk Schoenberger, Global Creative Director, adidas Sport Style Division

adidas Originals by Mary Katrantzou will be in stores as of November 2014.

Source adidas

Deckers Q1 Revenues Climb 11.7 Percent

Deckers Outdoor Corp. reported sales increased 11.7 percent in its three-month transition period ended Mar. 31, to $294.7 million, led by a 15.8 percent gain for Ugg. Deckers showed a loss of $2.7 million, or 8 cents a share, better than the company's forecast calling for a loss of 16 cents a share.

Three Month Transition Period 2014 Review

• Net sales increased 11.7 percent to $294.7 million compared to $263.8 million for the same period last year.
• Gross margin improved 210 basis points to 48.9 percent compared to 46.8 percent for the same period last year.
• Diluted loss per share was $(0.08) compared to an earnings per share of $0.03 for the same period last year.
• UGGâ brand sales increased 15.8 percent to $197.6 million compared to $170.6 million for the same period last year.
• Tevaâ brand sales decreased 9.2 percent to $46.8 million compared to $51.6 million for the same period last year.
• Sanukâ brand sales decreased 0.8 percent to $30.7 million compared to $30.9 million for the same period last year.
• Direct-to-Consumer comparable sales, which include worldwide retail same store sales and worldwide comparable E-Commerce sales, increased 16.9 percent over the same period last year.
• Retail sales increased 26.1 percent to $80.1 million compared to $63.6 million for the same period last year; same store sales increased 4.0 percent for the thirteen weeks ended March 30, 2014 compared to the thirteen weeks ended March 31, 2013.  
• E-Commerce sales increased 45.0 percent to $38.6 million compared to $26.6 million for the same period last year.
• Domestic sales increased 8.5 percent to $198.3 million compared to $182.7 million for the same period last year.
• International sales increased 18.9 percent to $96.4 million compared to $81.1 million for the same period last year.

"The strength of our business early in the new calendar year underscores the power of our brand portfolio and the successful execution of our consumer centric growth strategy," commented Angel Martinez, President, Chief Executive Officer and Chair of the Board of Directors.  "We believe that our diversified spring product offerings from the UGG, Teva, Sanuk and HOKA brands are resonating with a broader global audience.  At the same time, we believe that our enhanced Omni-Channel capabilities are helping fuel increased demand across our wholesale and Direct-to-Consumer distribution channels.  Our current momentum combined with our strong fall order book give us a heightened degree of optimism about our future prospects.  We are confident we are making the right investments in our brands and operating platform to drive sustainable sales and earnings growth over the long-term."

Division Summary

UGG Brand

UGG brand net sales for the transition period increased 15.8 percent to $197.6 million compared to $170.6 million for the same period last year.  The increase in sales was driven by sales gains across all primary channels, including an increase in global E-Commerce sales, the sales contribution from new retail store openings and an increase in same store sales, and higher domestic wholesale sales.

Teva Brand

Teva brand net sales for the transition period decreased 9.2 percent to $46.8 million compared to $51.6 million for the same period last year.  The decrease in sales was primarily attributable to lower domestic wholesale sales.

Sanuk Brand

Sanuk brand net sales for the transition period decreased 0.8 percent to $30.7 million compared to $30.9 million for the same period last year.  The decrease in sales was primarily attributable to lower international distributor sales, partially offset by an increase in domestic wholesale, retail and E-Commerce sales.

Other Brands

Combined net sales of the company's other brands increased 84.3 percent  to $19.6 million for the transition period compared to $10.6 million for the same period last year.  The increase was primarily attributable to a $8.2 million increase in sales for the HOKA ONE ONEâ brand compared to the same period last year.

Retail Stores

Sales for the global retail store business, which are included in the brand sales numbers above, increased 26.1 percent to $80.1 million for the transition period compared to $63.6 million for the same period last year.  This increase was driven by 42 new stores opened after the first quarter of 2013 and by a same store sales increase of 4.0 percent for the thirteen weeks ended March 30, 2014 compared to the thirteen weeks ended March 31, 2013.

E-Commerce

Sales for the global E-Commerce business, which are included in the brand sales numbers above, increased 45.0 percent to $38.6 million for the transition period compared to $26.6 million for the same period last year.  The sales increase was driven primarily by strong domestic and international sales for the UGG brand, increased domestic sales of the Sanuk and Teva brands, plus the domestic launch of the HOKA ONE ONE brand website and the addition of new international E-Commerce websites.

Balance Sheet

At March 31, 2014, cash and cash equivalents were $245.1 million compared to $64.6 million at March 31, 2013.  The company had $6.7 million in outstanding borrowings under its credit facility at March 31, 2014 compared to $10.0 million at March 31, 2013.  The increase in cash and cash equivalents and the decrease in outstanding borrowings are primarily attributable to cash provided by operations and improved inventories, partially offset by $85.4 million of cash payments for capital assets primarily related to retail expansion, the company's new headquarters facility and the Moreno Valley distribution center.

Inventories at March 31, 2014 decreased 17.7 percent to $211.5 million from $257.1 million at March 31, 2013.  By brand, UGG inventory decreased 25.6 percent to $150.0 million at March 31, 2014, Teva inventory increased 9.1 percent to $34.2 million at March 31, 2014, Sanuk inventory decreased 12.0 percent to $13.3 million at March 31, 2014, and the other brands' inventory increased 53.3 percent to $14.0 million at March 31, 2014.

Zohar Ziv Retirement

The company today announced that Zohar Ziv will retire as Chief Operating Officer after over 8 years with the company.  In order to facilitate a smooth transition which is expected to be concluded by the end of the year, Mr. Ziv is expected to stay until his successor is named.  The company is commencing a search for his successor.

"I want to thank Zohar for his many years of service to Deckers," commented Mr. Martinez.  "His contributions to the development of our international operations, world class supply chain and infrastructure are numerous.  More importantly, his influence on shaping our strong corporate culture is immeasurable.  Personally, he has been a tremendous friend and trusted advisor since he joined the company eight years ago.  I look forward to maintaining our close ties and continuing to benefit from his sage guidance."

Mr. Ziv said, "My time at Deckers has been the most rewarding period of my career.  I am extremely proud of the terrific people I've worked with and everything we've accomplished over the past several years.  I'm very confident that the company is well positioned for continued success.  I look forward to watching the company continue its expansion as I pursue personal interests and spend more time with my family."

Transfer of Listing to the New York Stock Exchange

The company is announcing that it will be transferring the listing of its common stock to the New York Stock Exchange from the NASDAQ Global Select Market.  After careful consideration and deliberation, the Board of Directors of the company determined that the proposed transfer of Deckers' common stock listing to the NYSE would be in the best interests of its stockholders, customers and partners.  The company expects that its common stock will begin trading on the NYSE on or about May 5, 2014, under its current ticker symbol, "DECK".  The company will continue to trade on NASDAQ under the symbol "DECK" until the transfer is completed.

Full Fiscal Year 2015 Outlook for the Twelve Month Period Ending March 31, 2015

• Based upon current visibility, the company expects fiscal year 2015 revenues to increase approximately 13.0 percent over the twelve month period ended March 31, 2014.
• The company expects fiscal year 2015 diluted earnings per share to increase approximately 13.5 percent over the twelve month period ended March 31, 2014.  This guidance assumes a gross profit margin of approximately 49.4 percent and an operating margin of approximately 13.0 percent.
• The company expects fiscal year 2015 SG&A expenses as a percentage of sales to be approximately 36.4 percent.  Among other items, these expenses include increased marketing and supply chain costs, investments in IT infrastructure, expenses related to management reorganization, and operating costs associated with opening new stores in 2013 and 2014.
• The company expects fiscal year 2015 UGG brand revenues to increase approximately 11 percent over the twelve month period ended March 31, 2014.
• The company expects fiscal year 2015 Teva brand revenues to increase approximately 11 percent over the twelve month period ended March 31, 2014.
• The company expects fiscal year 2015 Sanuk brand revenues to increase approximately 15 percent over the twelve month period ended March 31, 2014.
• Combined fiscal year 2015 net sales of the company's other brands are expected to be approximately $82.0 million compared to $48.6 million for the twelve month period ended March 31, 2014.
• Fiscal year 2015 guidance also assumes that the company's effective tax rate will be approximately 29.0 percent.

First Quarter Fiscal Year 2015 Outlook for the Three Month Period Ending June 30, 2014

• The company currently expects first quarter 2015 revenues to increase approximately 12.0 percent over the three month period ended June 30, 2013 calendar year levels, and expects to report a first quarter fiscal year 2015 diluted loss per share of approximately $(1.33) compared to a diluted loss per share of $(0.85) reported for the three month period ended June 30, 2013.
• As a reminder, a significant amount of our operating expenses are fixed and spread evenly on an absolute dollar basis throughout each quarter.  This includes the costs associated with the 28 new stores that were not open until the second half of 2013.  Therefore, we expect our earnings to decline in the first half of calendar 2014 as compared to the first half of 2013, which are typically our lowest volume sales quarters.  We expect the majority of our earnings increase in fiscal year 2015 to come in the second and third quarters – the three month periods ending September 30, 2014 and December 31, 2014 with the breakdown between those two periods to be similar to last year.

By press release


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Tern Introduces Innovative Solution for Packing Bikes for Airline Travel

Tern FlightSuit™ turns off-the-shelf suitcase into a cost-effective alternative to a dedicated bike travel case

TAIPEI, TAIWAN — Urban transport specialist, Tern, today announced the release of the Tern FlightSuit, a set of high-quality protective covers for packing Tern bikes into a standard-sized suitcase for airline travel.

“For many, the idea of bringing a bike on vacation is heaven, but can be daunting,” said Dwight Jurling, Director Global Marketing at Tern. “Dedicated cases are expensive, often incur oversize baggage charges, and take up valuable storage space when not in use. The Tern FlightSuit eliminates these concerns by letting travelers turn a normal suitcase into a bike travel case when one is needed.”

The Tern FlightSuit, together with off-the-shelf suitcase such as the Samsonite F’Lite GT 31" Spinner, forms a rugged and cost-effective option for traveling with a Tern bike. Every 20" wheel Tern bicycle can be lightly disassembled and packed into an airline legal suitcase like the Samsonite F’Lite. The FlightSuit can also be used with Tern 24" wheel bikes with larger dimension suitcases.

The 9-piece Tern FlightSuit kit includes a large suitcase pad plus custom protectors for the bike’s seatpost, handlepost, pedals and dropouts. Pads are made of durable 240D nylon bonded with 5 mm, dual-layer padding, to protect the bike during transit. Easy instructions printed right on the suitcase pad show how to fit the bike into the suitcase.

Suitcases are sold separately and are not included with the FlightSuit.

Pricing & AvailabilityThe Tern FlightSuit is now available at a MSRP of US$75 / €75.00 through the worldwide network of Tern dealers and from the Tern Store at www.premiumbikegear.com.


Ba press release