Finance Notes: Intersport To Make Morocco Its 43rd Market
Sporting goods retailer Intersport is set to enter its 43rd market, Morocco. With plans to open at least 12 stores, Intersport has granted a sub-license for the Moroccan market to Intersport Spain. The Spanish group has founded a joint venture with a local partner, Iska Management (ISPO, 4/26). ... Consolidated sales by Japanese cycling and fishing equipment manufacturer Shimano increased by just 1.3% to ¥63,278M ($647.6M) in the first quarter of '13. The operating income fell by 9.4% to ¥9,755M($99.8M), while the net income went up by 9.3% to ¥7,652M ($78.3M). Shimano "felt the impact of lower consumer spending in the U.S. and the continuing crisis in Europe" (ISPO, 4/26).