All coronavirus articles
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News briefsUYN launches initiative to recycle unused face masks
The Italian brand UYN is buying up unsold face masks from retailers and using them to create a sustainable accessories collection made from recycled materials. Under the “Change the Face of Your Mask” initiative, UYN will buy the masks – previously required during the Covid-19 pandemic – at €2.50 each ...
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News briefsNike’s employees at its global HQ will return to office four days a week
Starting in January, the Nike employees at its Oregon headquarters will be required to work in the office four days a week, The Oregonian/OregonLive has reported. Nike’s current policy requires workers to be in the office three days a week. “We’ve seen the power and energy that comes from working ...
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ArticleReport says sports brands leave Cambodian laborers languishing in poverty
Source: ActionAid Cambodia Workers Report The Covid-19 pandemic had a catastrophic impact on the workers employed in garment factories across Cambodia. In early 2020, workers already earned below the living wage and relied on overtime pay to cover their basic needs. By the end of the year, ...
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News briefsHDE: German retail expected to lose 9,000 doors in 2023
Following the Covid years, the retail sector in Germany is set to lose 9,000 more stores (across all consumer goods segments) in 2023, according to a forecast by the German Retail Association (HDE). Increasing vacancies in many city centers are making locations less attractive and putting more businesses at risk. ...
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ArticleWFSGI cooperates with WHO to improve global health
The World Health Organization (WHO) and the World Federation of Sporting Goods Industry (WFSGI) have signed a Memorandum of Understanding (MoU) in Geneva that establishes a framework for collaboration to improve global health through increased physical activity and sports participation. Recent industry data shows that health and well-being are on ...
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News briefsShareholder lawsuit against Peloton dismissed
A federal judge in New York has dismissed a shareholder class action lawsuit against Peloton that accused the fitness company of intentionally misleading investors who lost money when the company’s stock price plunged after the pandemic. The suit was a consolidation of several shareholder lawsuits filed against the company and ...
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News briefsNike accused of breaching OECD supply chain guidelines
A group of 20 unions from the garment sector and two labor-rights groups – Asia Floor Wage Alliance (AFWA) and Global Labor Justice–International Labor Rights Forum (GLJ-ILRF) – have submitted a formal complaint alleging that Nike’s treatment of workers and unpaid wages violated OECD guidelines for responsible business conduct. The ...
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ArticleISPO Beijing 2023 with 50% increase in visitors compared to 2022
The message of ISPO Beijing, which took place Feb. 10-12, 2023, was clear: Trade shows are back – and the sports industry is booming, also and especially in China. 368 leading brands and 223 exhibitors attracted 37,623 trade visitors and sports enthusiasts to Beijing. According to organizers, the show celebrated ...
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News briefsSportmaster launches winter gear rental service
Sportmaster, Russia’s largest sporting goods retailer, has launched a new winter equipment rental service. Available items include snowboards, cross-country skis, skates and field hockey equipment. For example, a Termit Fastlane snowboard with Stream bindings can be rented for 310 rubles (€4.20) per day or 5,850 rubles (€78.70) per month. Nordway ...
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News briefsChina eases Covid restrictions
China announced a general relaxation of Covid-19 health rules, authorizing patients with mild symptoms and for asymptomatic cases to quarantine at home. Previously, such cases were sent to mass quarantine centers. The National Health Commission also indicated that negative PCR test results would no longer be needed for domestic travel ...
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News briefsTechnogym posts 14.4% sales growth, with 47.1% increase in North America
Technogym, the Italian specialist in fitness equipment, has seen revenues increase by 17.4 percent, or 14.2 percent at constant currency, to €498,7 million in the first nine months of 2022. Growth was driven by B2C, with segment revenues doubling compared to the pre-pandemic period. The B2B segment also posted strong ...
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ArticleTopsports sees H1 earnings, sales slip
Chinese sports retailer and distributor Topsports saw its net profit in the six months ended Aug. 31 decrease by 19.9 percent to 1,145.4 million renminbi (€158.6m), and sales slip by 15.1 percent to RMB 13,218.0 million (€1,829.8m) as recurrent Covid-19 restrictions in China took their toll on store traffic. Despite ...
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News briefsAbbott World Marathon Majors and Mass Participation World partner to promote return to running events
The Abbott World Marathon Majors and Mass Participation World have partnered to launch #togetherwemove, an inspirational video and marketing tool to encourage people to go back to mass participation events after the rough patch the industry went through during the Covid-19 pandemic. The Abbott World Marathon Majors is a series ...
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ArticleFila’s Q1 revenues boosted by Acushnet, royalty income
Fila Holdings group revenues rose 15.0 percent (+4.3% currency neutral) to a quarterly record high of 1,171,903 million Korean won (€820.3m) in the second quarter ended June 30. More than 18 percent revenue growth at Acushnet to KRW 828,977 million (€580.3m) fueled by solid demand in North America and a ...
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ArticleAlpargatas sees Havaianas’ revenues fall double-digits in U.S., China
Alpargatas suffered double-digit sales declines for its rubber sandal brand in both the U.S. and China during the second quarter but realized an 11.8 percent increase in price per pair during the period. Havaianas’ sales declined 46.3 percent in China to 8.7 million Brazilian reais (€1.7m) due to the country’s ...
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News briefsAlibaba’s e-com sales decline
In Alibaba’s first quarter ended on June 30, revenues fell very slightly to 205.6 billion yuan renminbi (€29.7bn) from RMB 205.740 billion a year earlier due to a 1 percent decline in revenues in the China commerce segment to RMB 141.9 billion (€20.5bn), offset by revenue growth of the cloud ...
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News briefsPou Sheng warns on significant H1 decline
Pou Sheng Intl., the retail subsidiary of Yue Yuen, issued a revenue and profit warning for the first half ended June 30, citing persistent Covid-related restrictions in China that impacted consumer traffic and sentiment during the six months. The group forecasts a 25 percent decline in H1 revenues to 9,865 ...
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News briefsGerman retail association rejects new lockdowns in fall
HDE (German Retail Association) and ZIA (Central Real Estate Committee, the umbrella organization of the German real estate industry) have published a strategy paper in which they jointly formulate specific demands to policymakers to prevent a repetition of the past two fall/winter seasons. These include an exemption from lockdowns or ...
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ArticleIntersport Austria sees business model confirmed; outdoor, ski and bike lead the way
Intersport Austria reported revenues of approximately €325 million in the first half (ended March 30) of its 2022 fiscal year. This represents a 12 percent increase compared to pre-pandemic levels (first half of FY2019). These figures do not include Hungary, Slovakia and the Czech Republic. Source: Intersport ...
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News briefsAlibaba cracks mark of 1 billion Chinese consumers
For the last fiscal year, Alibaba reported a record 8,317 billion yuan renminbi (€1,160 billion) in global gross merchandise value. However, revenue in the quarter ended March 31, 2022, climbed only 9 percent year-on-year to RMB 204.1 billion (€28.5 billion). This is the slowest growth ever, which the company attributes ...
