Jobs losses at Thule, sales grow 20% - sportstextiles: Lea SportsTextiles

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Jobs losses at Thule, sales grow 20%

24/07/2015

Swedish backpack brand Thule has announced 50 job cuts in its US, Belgium and Hong Kong divisions, but saw sales for the second quarter increase 20% to SEK 1,700m ($198 million).

The Outdoor and Bags segment accounted for 93% of group sales during the quarter, increasing 18.2%, with the sport and outdoor market driven by new products and an increased retailer focus.

CEO Magnus Welander said: “Overall, I can state that the first six months were positive and we
continued to secure our leading position in the sports and outdoor industry with products that make it easy for consumers to bring everything they need for an active life.”

 


Related stories:

Thule boosts production capacity with new facility 15/01/2018
Thule sales rise despite dip in the Americas 01/11/2016
Thule registers sales growth in Q1 27/04/2016
Thule’s focus on backpacks pays off 11/11/2015
Thule sells offshoot to concentrate on bags 10/09/2015
H&M hopes to inspire at World Water Week 25/08/2015
H&M ‘closes the loop’ with recycled denim 21/08/2015
Renewable energy makes up half Thule’s total 16/03/2015
Thule becomes a bluesign partner 27/02/2015
Thule focuses on outdoor as currency effects decimate revenues 13/02/2015
Nine Scandinavian outdoor brands join forces at CIFF Raven 02/02/2015
IPO values Thule at $940 million 02/12/2014
Thule chooses Cordura for technical backpacks 11/08/2014

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