All Brands articles – Page 78
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News briefs
Intersport and Decathlon offer drive-in click & collect
Both Intersport and Decathlon have set up a form of “drive-in click and collect” service in France, calling it simply “drive.” Customers place their order online and collect the merchandise in the parking lot of their local store, receiving it directly at their car with maximum distancing. Intersport, which reopened ...
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News briefs
Intersport reports rising online sales in Germany
Intersport Germany has announced that about two-thirds of the customers who have a made a purchase on its online store in the last couple of weeks made another purchase at a later point. About 370 affiliated retailers are already connected to the platform, achieving sales in a range around €50 ...
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News briefs
S&P downgrades Wolverine
Standard & Poor’s downgraded its ratings for Wolverine Worldwide’s debt and unsecured notes because of the likely impact of Covid-19 on its results. While the digital channel now represents about 30 percent of the group’s revenues, S&P forecasts that orders placed by its wholesale clients could drop by as much ...
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Article
While sales tumble, Shimano’s profits soar
Shimano said its sales for the first quarter were down by 12.3 percent from the year-ago period to ¥76,920 million (€662.5m-$721.1m), hampered by lockdowns around the world in response to Covid-19. However, the company’s net earnings jumped by 95.6 percent to ¥19,663 million (€169.4m-$184.3m), mainly due to strong foreign exchange ...
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News briefs
Nike obtains dismissal of Klaw logo suit
Nike has obtained the dismissal of Kawhi Leonard’s lawsuit over the “Klaw” logo. Leonard plays for the Los Angeles Clippers of the National Basketball Association (NBA). The so-called Klaw logo is easily identified with the player himself, as it is meant to symbolize his distinctly large hands. According to Nike, ...
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ArticleAdidas fell by 19% in Q1, sees Q2 down by over 40%
The Adidas Group reported today a sharp drop in profit margins on a 19.2 percent decline in sales for the first quarter, due to the coronavirus outbreak, but warned that the second quarter will be worse. With more of its store base still closed right now, the management is expecting ...
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Article
Decathlon inks a deal with a major Russian marketplace
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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Article
UYN and others make masks and do more for Covid-19
Trerè Innovation, the Italian knitter of functional garments sold under the new UYN brand name – which stands for “Unleash Your Nature” – has converted its factory in northern Italy to make 10,000 face masks per day, while gearing up gradually for a re-start of the full production process at ...
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News briefs
Nike UK kids
Nike and Ukactive Kids have launched Move Crew, a new initiative designed to help children reach their 60 minutes of daily recommended activity. Ukactive is a British not-for-profit health organization for the physical activity sector. The Move Crew initiative sets daily “activity missions” for children to complete. A new Move ...
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News briefs
Nike Earth Day
Nike has celebrated this year’s Earth Day (April 22) by launching a new program on nike.com that makes it easier to search, shop and learn about the sustainable features of its products. Thanks to a new “Shop Sustainable Materials” tab in the navigation, it is now easier to spot sustainable ...
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Article
Skechers’ net falls by 55%
Skechers USA reported a drop of 54.9 percent to $49.1 million in its net earnings for the first quarter ended March 31 on 2.7 percent lower revenues of $1,242 million. In terms of local currencies, sales were down by 1.2 percent, with a small increase of 2.9 percent in the ...
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Article
Adidas may forego government aid
The Adidas Group said ten days ago that the German government had approved in principle its request to contribute to a €3 billion syndicated revolving credit facility through its state-owned bank, KfW, to help the company weather the Covid-19 crisis. In return, Adidas would not pay dividends for the duration ...
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News briefs
Lululemon's CFO leaves
Lululemon has announced the departure of its current chief financial officer, Patrick Guido, on May 8. He will be joining the Asbury Automotive Group as senior vice-president and chief financial officer. Meghan Frank, Lululemon’s senior vice-president of financial planning & analysis, and Alex Grieve, vice-president and controller, will take over ...
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News briefs
Alibaba to expand its cloud
According to Reuters, Alibaba Group Holding will be investing 200 billion yuan (€26.1bn-$28.3bn) over three years to bolster its data center and develop semiconductors and operating systems for its cloud-computing infrastructure. The Covid-19 pandemic has spurred demand for business software in China, and high data volumes occasioned by quarantines have ...
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Article
Saucony, Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide fared relatively well in the first quarter ended on March 28 - given the challenging conditions caused by Covid-19 – thanks mainly to higher online sales and strong performance in Europe and by the Saucony brand.
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News briefs
Nike signs up WNBA star
Nike has announced a multi-year shoe and apparel endorsement deal with Sabrina Ionescu. The financial terms of the agreement have not been disclosed. The Women’s National Basketball Association (WNBA) player was named Naismith Player of the Year and AP Player of the Year during her last year at the University ...
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Article
VF lowers its outlook, refinances
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicates that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover.
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Article
GoPro will focus more on DTC
While cutting costs, GoPro has decided to shift more of its business to the direct-to-consumer (DTC) channel as its sales have gone down because of the quarantine-shuttered brick-and-mortar retail sector. Accordingly, the American brand of action cameras has hired a chief digital officer – Aimée Lapic, former chief marketing officer ...
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News briefs
Amazon wants to name the Tottenham stadium
Amazon is emerging as a contender to become the main sponsor of Tottenham’s new stadium, according to reports in the Daily Mail. The British newspaper also indicates, however, that any agreement for the naming rights of the stadium is far from complete, especially in consideration of the general uncertainty caused ...
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News briefs
Wolverine changes its brand structure
By May 30 at the latest, Todd Spaletto will be stepping down as president of Wolverine Worldwide’s Michigan Brands group, which consists of the Merrell, Chaco, CAT Footwear, Hush Puppies and Sebago brands. Rather than replace him in the post, Wolverine is promoting three executives and dividing responsibility for its ...
