All Article articles – Page 102
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ArticleCreator-guided shopping platform LTK adds first Chief People Officer
Source: LTK Patricia Gonzales, the new CPO of LTK LTK, formerly rewardStyle, a global technology platform that connects creators, brands and shoppers to facilitate commerce online and through the LTK shopping app, has announced Patricia Gonzales as the company’s first chief people officer (CPO). LTK, which calls ...
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ArticleOn raises outlook again, vows to “protect the position of the brand”
On Holding, after reporting another quarter of strong results, now sees its FY22 revenues growing by 55 percent to 1.125 billion Swiss francs (€1.16b) and its adjusted Ebitda margin hitting CHF 148 million (€152.1m) despite ongoing margin pressure from the combination of a strong U.S. dollar and weak euro. The ...
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ArticleNike to launch new digital member platform called .Swoosh
Nike has developed a blockchain-based platform to serve as a “home” for all of its virtual creations – that is, “interactive digital objects such as virtual shoes or jerseys” for wearing “in digital games and immersive experiences.” In other words, NFTs. Nike has instituted a blog on ...
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ArticleNo detailed Singles Day 2022 numbers; Chinese outperform foreign brands in best-selling items
According to a report by Reuters, Chinese consumers tended to opt for relatively inexpensive domestic brands rather than more expensive ones on this year’s Singles Day (Nov. 11), as strict Covid-19 restrictions and economic uncertainty weighed on the shopping spectacle. The shopping day regularly surpasses “Black Friday” and “Cyber Monday” ...
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ArticlePuma and Foot Locker expand partnership with special collabs for next-gen customers
Following Adidas’ increased collaboration with the retailer after Nike’s gradual exit from Foot Locker earlier this year, Puma is now also massively stepping up its collaboration with the New York-based sports retailer with some promotions designed specifically for a younger demographic. The two companies announced an expanded partnership, highlighted by ...
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ArticleFila raises revenue guidance but sees operating profits under pressure
Korea-based Fila Holdings raised its guidance for full-year sales following the strong performance of its Acushnet subsidiary and a surge in global royalty revenues in the third quarter but cut its guidance for operating profits amid one-off restructuring costs and margin pressure due to promotional activities resulting from challenging market ...
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ArticleChina’s ongoing Covid-19 restrictions may force brands to reconsider market strategy
With some in the Biden Administration hoping to stabilize U.S. relations with China in talks between the country’s leaders at the G20 Summit in Bali today, footwear companies are considering a multitude of hard options for the coming year with respect to their operations in the globe’s second-largest economy. Business ...
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ArticleHow dirty is greenwashing? A legal perspective.
This article will briefly explain the current legal perspective of environmental claims used by corporates to market their products or services, in particular on a business-to-consumer level.
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ArticleAustrian Tourist Board: Winter season can be a success despite challenges
At a press conference in late October, tourism state secretary Susanne Kraus-Winkler and Österreich Werbung (OW; Austria Tourism) managing director Lisa Weddig addressed the current status quo of the tourism industry and the potential for the 2022/23 winter season, revealing that the industry made a comeback this summer, people are ...
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ArticleSlight improvement in German consumer sentiment in November
After several months of negative trends with ever-new all-time lows, German consumer sentiment improved slightly in November. As shown by the current consumer barometer of the German Retail Association (HDE), the index increased slightly compared to the previous month. However, the barometer remains at a low level. In recent months, ...
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ArticleAsics raises FY forecast on gains in performance running in China
Asics Corp., citing performance run gains in Greater China and Oceania and continued sales increases in its core performance sports segment across all regions, has elevated its annual outlook for the 12 months ending Dec. 31, 2022. The Japanese company has raised its total sales outlook by 4.3 percent from ...
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ArticleNautilus drops FY outlook on challenging macro, retail trends
While still expecting to achieve sales and profit improvement in its second half due to seasonality and higher advertising to drive demand, Nautilus lowered its second-half and FY outlook yesterday on current macroeconomic and retail concerns. The fitness equipment and technology company cut its annual revenue range forecast by 17-20 ...
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ArticleYue Yuen cautious about months ahead despite strong Q3
Yue Yuen reported a 171 percent increase in nine-month profit attributable to shareholders of $270.1 million versus $99.6 million. Revenues increased 8.2 percent to $6,971.9 million from $6,441.2 million for the period ended Sept. 30. Ebit was up 101 percent through nine months at $353.4 million, but gross margin was ...
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ArticleHanesbrands’ activewear operating profit declines 30% on flat sales
Faced with an operating environment that is weighing on its near-term performance in both innerwear and activewear, Hanesbrands is taking numerous actions to revitalize an activewear segment that includes its Champion business. The company, anticipating “a challenging consumer environment” for a period of time, continues to reduce its SKU count, ...
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ArticleWolverine establishes new brand structure, sets bigger focus on profit
Shares in the Merrell, Saucony, Keds and Sweaty Betty declined more than 34 percent yesterday after the company missed its third-quarter earnings target and lowered its guidance for the FY. Wolverine World Wide Inc.’s shares are down 59 percent year-to-date. The full-year outlook calls for 14 percent currency-neutral revenue growth ...
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ArticleMizuno makes gains on improving trends
Mizuno, citing a steady recovery in its soccer, baseball and racquet shoe businesses, growth in golf and positive change in Japan’s business climate, reported an 81 percent increase in second-quarter net income to ¥2.9 billion (€20.9m) from ¥1.6 billion for the second quarter ended Sept. 30. Operating profit rose by ...
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ArticleAllbirds Q3 losses widen, warns of “choppy” holiday trading
Sustainable footwear and clothing brand Allbirds has posted wider third-quarter losses and warned of “choppy” trading conditions in the run-up to Christmas. The company said net losses increased to $25.2 million from $13.8 million a year ago, and net loss margin increased to 35 percent from 22 percent. Operating losses ...
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ArticleAdidas and Marvel Studios team up for latest Black Panther movie
For the film “Black Panther: Wakanda Forever,” which hits theaters worldwide on Nov. 11, Adidas has partnered with Marvel Studios to create custom costumes and footwear for various characters in the film. Adidas innovation and design teams, led primarily by female and BIPOC designers, developed a new approach to costume ...
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ArticleYKK signs UN CBD COP15 business statement for mandatory assessment and disclosure
YKK Corporation has signed the United Nations Convention on Biodiversity (CBD) COP15 Business Statement for Mandatory Assessment and Disclosure by 2030, convened by Business for Nature. Business for Nature was established in 2019 by 13 international organizations, including the World Wide Fund for Nature (WWF) and the World Economic Forum ...
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ArticleAdidas slashes FY outlook again
Faced with a myriad of issues that need addressing in the coming financial year under the leadership of newly named CEO Bjørn Gulden, Adidas today cut its FY22 guidance for the third time since July 26. Three weeks after its last outlook adjustment on Oct. 20, the group today reduced ...
