All Article articles – Page 80
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ArticleGrendene exports slip by 51 percent in Q2
The Brazilian footwear maker Grendene posted a 15 percent decline in Q2 net income to 57.2 million Brazilian reais (€10.6m) from R$65.7 million for the period ended June 30. Ebitda was off by 13 percent to R$24.3 million but gross margin improved by 670 basis points to 40.9 percent from ...
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ArticleSoft global footwear demand continues to impact Yue Yuen
Profit attributable to Yue Yuen (YY) shareholders declined by 52 percent to $83,601,000 from $175,049,000 for the six months ended June 30, as sales fell by 12 percent to $4,154,968,000 from $4,709,792,000. Ebit fell by 36 percent to $143,227,000 from $223,948,000. The company cited a sluggish global macroeconomic environment and ...
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ArticleVista Outdoor unveils rebranded Sporting Products segment ahead of separation
Following the separation of its Outdoor Products and Sporting Products segments into two new, independent publicly traded companies, Vista Outdoor is to be rebranded. The new name, logo and NYSE ticker of the Sporting Products segment were unveiled on Aug. 10, in an employee town hall in Lewiston, Idaho.
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ArticleChampion drags down Hanesbrands in Q2
Hanesbrands senior management described Champion’s European business as “holding ground” in a tough market with a challenged consumer, with Footwear performing well. However global sales are down and the company has announced measures to move forward the purpose of the brand and revised its FY23 outlook. Champion under pressure in ...
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ArticleWolverine’s new CEO to spearhead turnaround as Q2 results tumble
Chris Hufnagel, who was yesterday named the President and CEO of Wolverine Worldwide, Inc (WWW) with immediate effect following the sudden departure of Brendan L. Hoffman, faces numerous headwinds from day one, with the group’s Q2 figures now released. They range from getting inventory and debt to proper levels and ...
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ArticleFreight rates are falling but so are orders
Freight rates for sea freight containers from the Far East have fallen to a stable low level, but retailers are placing fewer orders with their suppliers than in the previous year. This is according to supply chain experts at Setlog, a software company based in Bochum, Germany, who carried out ...
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ArticleNautilus narrows Q1 operating loss despite lower sales
The fitness company Nautilus, which sold off its namesake brand trademark and related assets earlier this year for about $13 million, posted numerous improved financial metrics in Q1 but still reported lower sales and a net loss for the period. In doing so, Nautilus, which retains the BowFlex brand, confirmed ...
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ArticleActivist investor wants changes at Hanesbrands
Barington Capital Group, a New York hedge fund manager, fired off a five-page letter to Hanesbrands’ Chairman Ronald L. Nelson on Aug. 7 demanding significant changes at the apparel firm and parent of Champion. The activist investor, led by James Mitarotonda, wants the underwear and activewear company to create long-term ...
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ArticleTopgolf Callaway maintains FY guidance, Q2 net up 11 percent
Topgolf Callaway’s Q2 results are on-track to reaffirm the groups full year 2023 revenue. President and CEO Chip Brewer has said in a statement he is “Particularly pleased with market share gains in Golf Equipment and the continued strength of Topgolf’s venue business.” Net income and US sales up Net ...
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ArticleFirst figures out as Under Armour commences its transition year
Under Armour, which sees its next FY as the start of growth phase for the company, commenced FY24 by exceeding Wall Street’s revenue and EPS guidance estimates. The international segment, including the EMEA, and DTC channels paced the results. Under Armour “very focused on profitability” Operating income slipped by ...
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ArticleAsics raises FY outlook as H1 operating profit soars
Suggesting its annual sales are likely to reach a record high, helped by contributions from its core Performance Sports, Sportstyle and Onitsuka Tiger segments, Asics Corp. has raised its FY23 outlook. Annual operating income is now pegged at ¥46,000 million (€308.2m), up 24 percent from a February forecast of ¥37,000. ...
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ArticleJD Group to be sole owner of MIG
JD Sports Fashion Plc has announced that it has exercised its rights under a call option and entered into a conditional agreement to acquire the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) from its minority shareholders. The JD Group will now become the 100 percent sole ...
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ArticleMizuno generates record Q1 operating profit
A recovery from year-ago supply chain disruptions coupled with strong sales growth outside Japan contributed to record Q1 operating income for Mizuno. Total revenues, bolstered by strong gains in golf, baseball, and soccer, rose by 24 percent to ¥57.2 billion (€383.2m) from ¥46.2 billion for the period ended June 30. ...
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ArticleFirst supplier list for Pakistan Accord signatories announced
The first list of suppliers covered under the Pakistan Accord has been published. The list, comprising over 400 factories, provides an overview of the names, addresses, production processes, number of workers, and the number of signatory brands sourcing from each factory.
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ArticleGolf participation keeps growing worldwide
Participation in the game of golf continues to climb worldwide. According to a new report that has been released by The R&A, and produced by Sporting Insights, ten million extra adults have taken up the sport since 2016. There are now 39.6 million on-course golfers (9 and 18 hole) in ...
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ArticlePentland Brands to simplify business structure
Changes are underway at Pentland Brands, as the U.K. parent of a portfolio that includes Speedo, Ellesse, and Mitre among others, is reportedly restructuring the organization. Over the next six months, a program of simplification is expected to include: Re-focusing efforts on digital innovation and consumer engagement; moving Speedo’s global ...
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ArticleXponential Fitness operating income ticks up 1 percent in Q2
The global franchisor of boutique fitness brands, which signed a master franchise agreement for France during the period, reported a 1 percent increase in Q2 operating income to $36.5 million from $36.1 million. Net income attributable to Xponential Fitness rose by 9.2 percent to $18.4 million on 30 percent revenue ...
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ArticleNFL legend Tom Brady invests in British football club
American football legend, seven-time Super Bowl champion and entrepreneur Tom Brady has partnered with Knighthead Capital Management LLC to become a minority owner of Birmingham City Ltd. Brady will become chairman of the new advisory board and work directly with the board and members of the Birmingham City Football Club ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
The Brazilian parent of flip-flop sandal brand Havaianas and the Rothy footwear brand continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins, and profitability. Alpargatas reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleNike to open network of boutique fitness studios in the U.S.
Nike is beginning to open a network of boutique gyms in the U.S. under the Nike Studios banner in partnership with FitLab, a fitness and sports lifestyle company that offers digital and gym experiences. The studios will be open to anyone over the age of 18. The move comes after ...
