All Article articles – Page 105
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ArticleGarmin lifts FY EPS outlook, drops sales forecast by 3 percent
For the second consecutive quarter, Garmin has altered its fiscal year 2022 outlook. After lowering its annual revenue forecast by 9 percent to $5 billion in late July, the group is now forecasting FY revenues of $4.85 billion. On the upside, the Swiss company has adjusted its full-year EPS guidance ...
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ArticleChallenging market conditions continue to weigh on XXL ASA
XXL ASA, the operator of sporting goods across Scandinavia and Austria, continues to see historically low consumer confidence and diminished demand for sporting goods, in general, weigh on its financial results. Earlier, the group said the two trends commenced in mid-May. Now, the retailer, which recently promoted CFO Stein Eriksen ...
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ArticlePolygiene sales fall as distributors cut order levels
The Swedish Polygiene Group reported lower third-quarter sales and profits as distributors tightened order and inventory levels. The company said net sales fell 21.7 percent to 41 million Swedish kronor (€3.75m) in the three months to Sept. 30, mainly attributed to reduced sales at the distributor level. Operating profit fell ...
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ArticleSkechers escorts West out of L.A. corporate building
Slowly but surely, Kanye West should realize that he is no longer welcome due to the antisemitic, racist and hateful remarks he made recently across multiple forums. After the recent contract cancellations with Adidas, Balenciaga, CAA, MRC and Gap, Skechers USA now released a statement in which it reports that ...
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ArticleWhich countries show the most interest in the FIFA World Cup - and how does it compare to the Olympics?
Four out of nine consumers are interested in the FIFA World Cup. How does that compare to the Summer Olympics and who are the fans? YouGov Global Fan Profiles have now revealed that 45 percent of consumers in 50 markets either have “some interest” in the FIFA World Cup or ...
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ArticleSkechers drops fourth-quarter outlook as Q3 net dips
Skechers, impacted by $50 million in incremental freight and logistics costs and elevated operating expenses, reported a 17 percent decline in third-quarter profit to $85.9 million from $103.1 million for the period ended Sep. 30. Operating expenses were nearly 20 percent higher at $754.0 million, and gross margin was down ...
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ArticleShimano resists slowing demand with results above pre-Covid level
Triggered by the Russian invasion of Ukraine, global shortages in raw material and energy supply, as well as rising raw material prices, will have a direct impact on the business of Shimano Inc. Nevertheless, demand for bicycles and fishing tackle remained stable in the first three sales quarters of fiscal ...
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ArticlePuma reports strong Q3 results, maintains FY outlook
Puma is maintaining its full-year outlook, which calls for currency-adjusted mid-teens sales growth and EBIT of €600-€700 million, despite numerous headwinds that will likely weigh down annual profitability. Those negative factors include inflationary pressures from higher freight costs, persistent operational inefficiencies related to the Covid-19 pandemic and the ongoing crisis ...
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ArticleZalando expands range to include adaptive fashion
Zalando is expanding its range to clothing, shoes and accessories that are geared to the needs of people with disabilities and are deliberately designed to be easier to use by people with permanent or temporary impairments. The addition of adaptive fashion to its product range is an important milestone for ...
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ArticleAdidas severs ties with Kanye West
“Adidas does not tolerate antisemitism and any other sort of hate speech,” the company said concisely in its official statement.
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ArticleWHO highlights the cost of physical inactivity in first-ever global report
The World Health Organization (WHO) has released its Global Status Report on Physical Activity 2022, WHO’s first dedicated assessment of global progress on country implementation of policy recommendations of the Global Action Plan on Physical Activity (GAPPA) 2018-2030. The GAPP is meant to help countries increase levels of participation in ...
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ArticleRed Bull founder Dietrich Mateschitz dies at 78
Dietrich Mateschitz, the founder of Red Bull, passed away on Oct. 22, 2022, at the age of 78 after a long illness. Mateschitz has shaped sports worldwide with his company and his marketing strategy. His company published an email that it had sent to its staff on Saturday: Dear ...
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ArticleMobilization spurs demand for sports and outdoor products on the Russian market
The Russian market experienced a boom in demand for sporting and outdoor goods since Sept. 21, when the Russian president declared the first mass mobilization in the country since the second world war. The demand for military ammunition has sharply risen in Russia, and the price of sporting and outdoor ...
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ArticleSanctions deprive Russian athletes of much-needed apparel
Russian athletes barred from most international competitions following the Russian invasion of Ukraine now experience a shortage of apparel for training and performing. To meet the demand for athletic apparel for the near future of the Russian Olympic sports federations, investments of 2.5 billion roubles (€42m) are required, said Vasily ...
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ArticleJoin the European outdoor industry and POW's call for climate action
Ahead of COP27, the European outdoor industry and Protect Our Winters (POW) are working together to call on European decision-makers to prioritize sustainability. The outdoor industry is in a key position in the fight against climate change, and its customers are seeing the effects of climate change firsthand, from receding ...
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ArticleAdidas cuts guidance again, unveils "business improvement program" after weak Q3
Adidas cut its full-year guidance for the second time in three months and announced a new “business improvement program” after preliminary results for the third quarter showed sales were hit by a “strong” double-digit decline in Greater China and profits shrank in the wake of nearly €300 million in one-off ...
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ArticleRecycle Your Boots: Tecnica Group’s recycling project aims at closing the loop
The Tecnica Group is committed to closing the circle of ski boot life cycles: 4,200 ski boots have already been collected, dismantled and recycled into new products in the first year since autumn 2021 of the group’s “Recycle Your Boots” (RYB) project.
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ArticlePolartec introduces new bio-based weather protection technology under Power Shield name
Polartec has launched a new bio-based fabric technology that aims to set a new standard for sustainable weather protection. The name of this new technology is an old acquaintance: Polartec Power Shield, a material already known for its softshell-like comfort with hardshell-like wind and waterproofness, especially in the advanced Pro ...
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ArticleIntersport Germany launches new brand campaign; new report underlines social relevance of sports
Intersport Germany is underlining the enormous social importance of sports with a new brand campaign. The sporting goods retailer has already been campaigning to increase access to sports for years. Now, the group is launching “Einmal Sport. Intersport.“ (a pun on “Once sport. Always sport”), a highly emotional and polarizing ...
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ArticleDiadora releases its first sustainability report
Diadora has published its first Sustainability Report. The document refers to the period from Jan. 1 to Dec. 31, 2021. The “Diadora Sustainability Manifesto 2021- 2025,” incorporated in the business plan, conveys the company’s roadmap for implementing its renewed sustainability strategy. The Manifesto is based on four ...
