All Article articles – Page 88
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ArticleSurf icon Kelly Slater launches sustainable footwear brand
Eleven-time world champion surfer Kelly Slater has launched a new sustainable footwear brand, KLLY. Slater says KLLY Footwear fills a niche in the footwear industry by withstanding the rigors of daily wear and outdoor adventures while helping to reduce the fashion industry’s environmental impact. The first product in the KLLY ...
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ArticleDecathlon sells some stores but reportedly stays in Russia
The Russian Ministry of Industry and Trade announced that the French sporting goods retailer Decathlon had not notified the Russian authorities of its plans to leave the country altogether. A few days earlier, the Russian newspaper Izvestia reported that Decathlon had agreed on the terms of the deal to sell ...
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ArticleBjörn Borg increases sales and profit in Q1
Björn Borg AB, listed on Nasdaq Stockholm since 2007, has started the new fiscal year with good sales and very good development in operating profit. “The fact that we increased our operating profit in the quarter to SEK 31.4 million [€2.76m], despite the continued weak krona and a troubled world, ...
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ArticleAlibaba misses revenue forecast
China’s Alibaba Group reported that its revenue had missed the forecasts for its Q4. The company is struggling to attract new users as the Chinese e-commerce market matures and new competitors chip away at market share. Alibaba posted revenue of 208.2 billion yuan renminbi (€27.5bn) in the three months ended ...
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ArticleStrong regional demand fuels Yonex’s FY23 results
Yonex reported double-digit gains in operating profit and total sales for the 12 months ended March 31. The Japanese group’s FY23 operating profit rose by 49 percent to ¥10,063 million (€70.4m), and net profit increased by 27 percent to ¥7,331 million (€51.3m). Annual revenues grew nearly 44 percent to ¥107,019 ...
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ArticleLatest deal in Finnish ski industry could be a game changer
Two ski factories in Finland have landed a deal of over €10m. We bring you the details and what this means for the industry and consumers.
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ArticleWahoo founder buys fitness company back from banks
Facing a liquidity shortage and the possibility of default, the U.S. training equipment manufacturer Wahoo Fitness has fully recapitalized its company and eliminated all debt under the leadership of company founder Chip Hawkins and “equal” investors, new and existing (Rhône Group, David Wichmann of Jory Capital & Human Powered Health, ...
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ArticleEMEA, Asia-Pacific fuel Q4 sales growth for Canada Goose
Higher direct-to-consumer revenues coupled with the absence of pandemic-related restrictions helped Canada Goose achieve double-digit revenue growth in the EMEA and Asia-Pacific regions in Q4 ended April 2. Period operating income was C$17.2 million (€11.9m) versus C$0.9 million, but the group reported a net loss of C$10.0 million (€6.9m) against ...
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ArticleIntersport unveils full details of its “Grow Together Faster” strategy
Setting itself a series of ambitious goals and objectives, Intersport is aiming to be the preferred choice for all consumers. We explain how
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ArticleSustainability has become a status symbol for Gen Z
Gen Z consumers incorporate sustainable values but wish they had more knowledge. We explore what this means for brands and the mistakes to avoid.
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ArticleDescente forecasts 9 percent FY23 operating income growth
Descente’s annual revenues of ¥120,614 million (€815.5m) in FY22 exceeded its Nov. 2022 forecast of ¥118,000 million as the company generated higher year-over-year sales in Japan, South Korea and China. The group realized significant profit improvement in both Japan and South Korea but lower year-over-year profits in China due to ...
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ArticleAqualung expects double-digit growth in 2023, pursues “Horizon 2027” strategy
The Aqualung Group initiated a global plan 8 months ago, “Horizon 2027,” aimed at expanding its global leadership position in diving equipment, including for military and professional applications, as well as high-performance water sports products. The renewed executive team, led by Bruno Cercley, President and CEO since December 2022, is ...
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ArticleMichelin Soles expands to the US
JV International Srl, an Italian manufacturer of engineered soles and worldwide licensee of Michelin Soles, has expanded to the USA to further expand its global presence. Founded in 2013, the Italian company has already been able to strengthen its presence on two important continents for the development of footwear: Europe ...
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ArticleAdidas to sell Russian business
Adidas mulls selling its Russian business to another foreign investor or passing it to local management, Russian newspaper Kommersant reported, citing sources on the local market. One of the sources claimed that the eventual target is to relaunch the 100 most profitable stores, which have stood idle since October 2022. ...
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ArticleOn Holding raises FY23 outlook; UK, Germany drive EMEA in Q1
On Holding hiked its FY23 revenue forecast by 2.4 percent to at least 1.74 billion (€1.79b) today as it reported 78 percent Q1 revenue growth to CHF 420.2 million (€418.6m) and a 166 percent year-over-year Ebit increase to CHF 51.5 million (€52.9m) for the three months ended March 31. Other ...
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ArticleGoogle tests product search optimization with generative AI
In a test, Google is using next-generation artificial intelligence (AI) to help consumers find products online. The pilot is currently underway in Search Labs, Google’s program where consumers can sign up to test new products and ideas the company is working on. Participants can try out some early-stage experiments and ...
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ArticleTechnogym posts double-digit sales increase in Q1, driven by B2B
Technogym, the Italian specialist in equipment and digital technologies for fitness, has reported consolidated revenues of €175 million for the first quarter of 2023, representing a 15.2 percent increase compared to the same period of 2022, or a 15.5 percent increase at constant exchange rates. The sales increase was driven ...
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ArticleFila Holdings’ Q1 sales, profits dominated by Acushnet
Struggling with a bloated inventory market in the U.S. and sales channel adjustments in its home South Korea market, Fila Holdings relied on Acushnet Co. to generate the majority of its Q1 revenues and operating profit. Operating income declined by 14.7 percent in constant currency to KRW 160,379 million ...
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ArticleUnit of JD Sports to take over Gap France
Following on from April’s decision in which Intersport France had the winning bid to acquire the Go Sport Group in a joint venture with the Qatari firm Al-Mana, Spodis – a unit of JD Sports Fashion – has been chosen by a Grenoble-based commercial court as the buyer of part ...
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ArticleGolf segment helps drive Mizuno to record FY22 sales
Global golf sales coupled with strong baseball, soccer and work segment results in its home Japanese market were key contributors to Mizuno’s record FY22 results. Double-digit year-on-year revenue improvement in all regions Total revenues rose by 23 percent to ¥212.0 billion (€1.44b) from ¥172.7 million for the 12 months ended ...
