All Article articles – Page 137
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Article
JD raises FY guidance after record-setting H1 profits
JD Sports Fashion reported a profit before exceptional items and taxes of 439.5 million pounds (€515.1m-$608.8m) for the first half ended July 31, up sharply from £61.9 million in the same period a year ago, as acquisitions, the U.S. government’s stimulus package and pent-up demand allowed it to rebound strongly ...
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Extended Covid Restrictions in Vietnam are hitting companies hard
Nike and other companies are expected to suffer considerable damage from a decision by Vietnamese authorities to extend their strict Covid-19 restrictions in the Ho Chi Minh City region until the end of the month. They were originally scheduled to be lifted on Sept. 15, but the measures taken so ...
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Article
Zalando helps Athleta to expand to Europe
Athleta, the American direct-to-consumer women’s activewear brand owned by Gap, is partnering with Zalando to help reach new customers in Europe through its extensive digital reach and its personalized customer experience. The partnership will also help Zalando to expand its presence in sports fashion and the sports category in general. ...
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ArticleZumiez performs better than before Covid
Zumiez has been performing well, in spite of ongoing retail lockdowns in Europe and Australia. The American action sports retailer, whose holdings include Blue Tomato in Europe and Fast Company in Australia, reported a sales increase of 7.3 percent to $268.7 million for second quarter ended July 31. The turnover ...
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JD adopts the OOOOO video commerce platform
JD Sports Fashion has started an exclusive partnership in the U.K. with OOOOO Entertainment Commerce to develop market-leading video commerce content on its young rapidly growing platform. OOOOO describes itself as a technology platform that enables retailers, brands and influencers to share product-based opinions directly to consumers through live, interactive, ...
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Lululemon raises FY guidance as sales accelerate, despite supply chain issues
Lululemon Athletica raised its outlook for sales and earnings after beating analysts’ estimates in the second quarter ended Aug. 1. Sending its stock market valuation up to an all-time high of €56.5 billion, the company said it is now on track to reach its 2023 target for its top line ...
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ArticleExpanded: First financing for a new, sustainable online marketplace for sports goods, Planetics
A Munich-based startup, Planetics, has successfully closed its first financing round for its online marketplace for sustainable and fairly produced sporting goods. The exact investment sum was not disclosed, but the founders indicated a “six-figure” range of between €100,000 and €999,000. The capital raised will primarily be used to further ...
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ArticleExpanded: On Running to be valued at over $5 bn
Providing further details about its planned public offering, On Holding said it plans to raise net proceeds of around $448.6 million by offering a total of 31.1 million shares on the New York Stock Exchange at a unit price of between $18.00 and $20.00. Out of the total package being ...
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Big Chinese sports apparel manufacturer vaccinates its workers
While reporting lower profit margins, Shenzhou International warned that its overall annual production capacity will be reduced by one to two percentage points for every 14 days of anti-pandemic measures being taken. The leading Chinese sportswear manufacturer arranged vaccinations for its workers in Cambodia, allowing them to return to work ...
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ArticleAdidas to double minimum orders by Spanish buying groups
Next year, according to CMDsport, Adidas will be doubling the minimum order for any Spanish buying groups from €1 million to €2 million. While most of Spain’s numerous buying groups already exceed the threshold, certain retailers tell the Spanish trade paper that they believe Adidas is ratcheting up its strategy ...
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ArticleA new CEO for SportScheck
Signa Retail has appointed Matthias Rucker, a partner of the Boston Consulting Group, as the new CEO of SportScheck, in replacement of Thomas Wanke. Starting on Oct. 1, he will be tasked with expanding the digital transformation of the German sporting goods retail chain into an experiential platform for sports ...
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ArticleWeSports makes many purchases and adds e-com pioneer Johan Ryding to its board
The young Swedish WeSports group has engaged in a big shopping spree, taking over many companies in the last few months. It has also announced that Johan Ryding has joined the company’s board of directors. Ryding is one of the founders of Sportamore, the first Nordic online sports store, and ...
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Article
New hurdles in JD’s takeover of Footasylum
Leaving the door open for other comments by Sept. 16 before making a final decision in October, the U.K. Competition and Markets Authority (CMA) restated on Sept. 2 its provisional ban on JD Sports Fashion’s already completed acquisition of the Footasylum, in spite of criticism expressed by the Competition Appeal ...
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Dalbello teams up with Life Reskiboot for a circular economy
Dalbello, the Italian ski boot manufacturer that is part of the K2-Marker-Dalbello-Völkl group (K2-MDV), has been a partner since last September of the Life Reskiboot project, co-funded by the European Commission, which aims to takle the problem of plastic waste management with a new paradigm applied to ski boot construction ...
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Article
Sequential Brands Group files for bankruptcy protection
After many loss-making quarters and the sale of four brands - Heelys, DVS Footwear, Caribbean Joe and Ellen Tracy - earlier this year, the heavily indebted Sequential Brands Group has commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware to protect it from its ...
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ArticleiFIT reports strong growth and losses ahead of its IPO
Confirming its plans to go public, iFIT Health & Fitness reported a 104.9 percent increase in revenues to $1,745.1 million for the 12 months ended last May 31, compared with $700.0 million in 2018/19 and $851.7 million in 2019/20. It got orders worth $382.3 million last year, representing an increase ...
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ArticleLoss-making Allbirds eyes the sports market as it files for a “sustainable” IPO
Allbirds, the B Corporation certified brand of sneakers and apparel based in San Francisco, has filed an application with the U.S. Securities and Exchange Commission for a so-called “sustainable” initial public offering on Nasdaq. The document indicates the size of the transaction at $100 million, which is an estimation solely ...
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Peloton cuts bike price again, signals growth slowdown after Q4 loss
Peloton Interactive cut the price of its original stationary bike again and signaled that slower growth is on the horizon after posting a hefty net loss in the fourth quarter of its fiscal year. The company reported a net loss of $313.2 million for the quarter ended June 30, against ...
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JD and Sprinter acquire Bodytone
According to CMDsport, the Iberian Sports Retail Group (ISRG) has acquired a 50.1 percent stake in Bodytone International Sport, a Spanish-based producer and international distributor of professional gym machines and equipment. The purchase price was undisclosed. Bodytone has until now been wholly owned by American Sport Invest, which has become ...
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ArticleStella builds up capacity in Indonesia, sees profit turnaround in H1
The Hong-Kong-based footwear manufacturer and retailer Stella International expects its new factory in Solo, Indonesia, to come on stream in the third quarter of 2021 as the company continues to increase production outside the Chinese mainland. The plant is expected to contribute to overall sales in 2022. Solo will be ...
