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Umbro warns of revenue hit
By THE ASSOCIATED PRESS
McClaren ousted as coach
PM wants British nations to play each other
Beckham sets sights on World Cup
Desailly has some advice
England crashes out
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LONDON - Umbro, which supplies uniforms and other equipment to England's national soccer team, admits its business will suffer from the team's failure to qualify for the European Championships.
Umbro issued a trading statement Thursday following England's 3-2 loss to Croatia, which eliminated the team from the competition.
Umbro said sales of England replica shirts had been disappointing recently.
"The reduced levels of England home jersey sell-through at retail in 2007 and England's failure to qualify for the European Championships will have some effect on revenues in the current financial year," Umbro informed the London Stock Exchange.
"The effect on 2008 revenues, though still unclear, will be more pronounced due to a substantial reduction in our expected sales volumes for the new away jersey."
Umbro said the situation affirmed its belief that it must grow in international markets, a strategy it said would be assisted by Nike's proposed friendly takeover which values Umbro at 285 million pounds (C$580 million).
Umbro said details of the Nike offer would be submitted to shareholders Friday.
By THE ASSOCIATED PRESS
McClaren ousted as coach PM wants British nations to play each other Beckham sets sights on World Cup Desailly has some advice England crashes outfctAdTag("bigbox",MyGenericTagVar,1);
LONDON - Umbro, which supplies uniforms and other equipment to England's national soccer team, admits its business will suffer from the team's failure to qualify for the European Championships.
Umbro issued a trading statement Thursday following England's 3-2 loss to Croatia, which eliminated the team from the competition.
Umbro said sales of England replica shirts had been disappointing recently.
"The reduced levels of England home jersey sell-through at retail in 2007 and England's failure to qualify for the European Championships will have some effect on revenues in the current financial year," Umbro informed the London Stock Exchange.
"The effect on 2008 revenues, though still unclear, will be more pronounced due to a substantial reduction in our expected sales volumes for the new away jersey."
Umbro said the situation affirmed its belief that it must grow in international markets, a strategy it said would be assisted by Nike's proposed friendly takeover which values Umbro at 285 million pounds (C$580 million).
Umbro said details of the Nike offer would be submitted to shareholders Friday.