All Brands articles – Page 77
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News briefs
Nike stores are reopening
As of May 14, all of Nike’s owned stores and more than 95 percent of its partner stores in Greater China and South Korea were open, although some still have shortened hours. Store traffic there remains low, according to Nike, but overall retail traffic and conversion rates are rising and ...
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News briefs
Adidas pairs Covid-19 donations to exercise tracking apps
Adidas is launching the #HomeTeamHero Challenge to support the Covid-19 pandemic’s essential workers. For every hour of app-tracked exercise from May 29 to June 7 Adidas will donate $1 to the Covid-19 Solidarity Response Fund of the World Health Organization (WHO). The objective is to reach one million hours. The ...
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News briefs
Under Armour’s lending covenants are relaxed
Under Armour has obtained a revision to its credit agreement with JP Morgan Chase that reduces it required debt/Ebitda ratio but forces it to maintain a minimum liquidity of $450 million through the end of 2021. Also, the aggregate revolving credit facility has been cut from $1.25 billion to $1.10 ...
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News briefs
Decathlon Germany implements “Scan & Go”
Decathlon has started to offer a “Scan & Go” option in its German stores. It makes use of MishiPay mobile technology that allows customers to scan and pay for items by simply using their smartphones. The system thereby minimizes the contact with both check-out devices and the store staff. Customers ...
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News briefs
Li & Fung is going private
Li & Fung will be delisted from the Hong Kong Stock Exchange after Friday, May 15. The Chinese sourcing giant has been trading there publicly since 1973. Shareholder endorsed a proposal to allow the founding family to take the company private, with only 2.85 percent of the votes cast against ...
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ArticleUnder Armour sees drops of 23% in Q1 and up to 60% in Q2
Under Armour reported a 22.8 percent hit on its revenues for the first quarter of 2020, down to $930.2 million, blaming about 15 percentage points of the decrease on Covid-19 and warning that they might drop by between 50 and 60 percent in the second quarter. Unlike its peers, the ...
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Article
Acushnet posts lower-than-expected sales and profits
The first-quarter results of Acushnet, the American golf company controlled by Fila Korea, did not meet analysts’ expectations. Sales declined by 5.8 percent to $408.7 million, or by 4.6 percent in constant currencies, due to a decrease in Titleist golf ball sales and FootJoy golf wear, hampered by Covid-19. As ...
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News briefs
Kelme to replace Adidas as Watford’s kit sponsor
Kelme has signed a £10 million (€11.3m-$12.3m) kit deal with Watford, a professional football club that competes in the English Premier League. The news was first unveiled by The Athletic on May 10. The new four-year deal with the Spanish sports brand will replace the current contract with Adidas, which ...
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News briefs
Former Nike manager works for the Higg Index
Higg Co., the developer of the Higg Index for the measurement of the sustainability of textile products, has hired Del Hudson, a former executive of Nike, as its new vice president of marketing and communications. Hudson spent 20 years at Nike on communication and sustainability at various locations. He then ...
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News briefs
Nike supports new wastewater management training
Nike is collaborating with the ZDHC Roadmap to Zero Programme and the Water Environment Federation (WEF) on a new training program that aims to improve water and wastewater management in the textile supply chains around the world. The organizations are collaborating on further developing the WEF training manual, exams and ...
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News briefs
Arc’teryx places a creative Adidas veteran in a top new position
Katie Becker has joined Arc’teryx Equipment as the Canadian outdoor brand’s first vice president in charge of creative operations. Becker comes from Adidas, where she had worked for 12 years, most recently as senior global design director. Prior to that, she held various design positions at Merrell, Helly Hansen and ...
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News briefs
GoPro’s sales are cut by more than half
In line with its previous warning, GoPro reported a turnover of $119 million in the first quarter, more than half the $243 million level of the year-ago period. The transition to a more efficient and profitale direct-to-consumer model reduced operating expenses mitigating the decline in the gross margin, which was ...
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Article
Puma posts a 1.5% drop in Q1
Doing better than some competitors, Puma reported sales declines of only 1.5 percent in euros and 1.3 percent in local currencies during the first quarter, leading to a 61.6 percent drop in net earnings to €36.2 million on sales of €1,299.8 million, although the company started the year with an ...
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News briefs
Nike donates products for Covid-19 relief
Nike is donating about 140,000 pieces of footwear, apparel and equipment – worth $5.5 million – to hospitals and clinics in response to the Covid-19 pandemic. Medical personnel at the Veterans Health Administration and at hospitals in Chicago, Los Angeles, Memphis and New York City will be receiving 30,000 pairs ...
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Article
Fitbit returns to profits thanks to U.S. coronavirus aid
Despite a difficult first quarter, with sales hit by the Covid-19 crisis, Fitbit managed to return to profit. It was helped by a $145 million tax benefit from operating loss carrybacks as part of a government program to help companies through the coronavirus pandemic. Net income reached $20.3 million, compared ...
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Article
Decathlon inks deals with marketplaces
As it has already done with Kant, one of the major multi-brand sports retailers in Russia, Decathlon has embarked on an unusual cooperation with a major Russian e-tailer, Ozon, which is pushing its own marketplace. The highly verticalized French sports retailer has announced a contract with Ozon to sell 1,500 ...
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News briefs
Canada Goose partners with bluesign
Canada Goose has announced its commitment to reach 90 percent bluesign approved fabrics by 2025. The pledge is part of the Canada Goose’s Sustainable Impact Strategy. The brands who commit to being a bluesign system partner have their supply chain thoroughly assessed to ensure that their products and processes meet ...
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News briefs
Nike releases its first indoor cycling shoe
Nike is launching its first indoor cycling shoe, at a time when an unprecedently large number of people are working at home. The SuperRep Cycle is the newest release from the Nike SuperRep footwear family, which also includes the Air Zoom SuperRep and the SuperRep Go. The new Nike SuperRep ...
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News briefs
Intersport España reports 500% increase in online sales for April
Intersport España, which reopened its e-commerce site on March 21, has just announced a 500 percent year-on-year increase in online sales for the month of April. The Covid-19 quarantine has catapulted the home fitness category to the forefront. Yoga mats, fitness bands, chin-up bars, dumbbells and the like accounted for ...
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Article
An excellent quarter for Garmin in Outdoor and Fitness
Garmin’s fitness division had a stellar performance in the first quarter. Revenues in this segment soared by 24 percent to $180.3 million, as the group benefited from the home fitness boom due to the lockdowns in place in many countries. Sales were driven by advanced wearables and Tacx indoor bike ...
