Latest Headlines – Page 10
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News briefsAllbirds announces new international distribution deals
Global lifestyle brand Allbirds has announced definitive agreements with distributors in the Gulf Countries and Southeast Asia. Alyasra Fashion will be the exclusive Allbirds distributor in the Gulf countries while The Primer Group of Companies will distribute Allbirds’s products across Malaysia, Singapore, Indonesia and the Philippines. Alyasra Fashion is a ...
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News briefsA new women’s pro golf tour in the UK
Sarah and Adam Walker are launching the Ladies Pro Series, a new tour in the UK that aims to increase the professional playing opportunities for female golfers. Ladies Pro Series is open to female professional golfers paired with an amateur (male or female) with a maximum playing handicap of 28 ...
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ArticleNike addresses backlash over England kit for Euro 2024
Nike has responded to the widespread criticism surrounding its controversial England kit design for the upcoming Euro 2024 tournament. The kit modification notably alters England’s traditional St. George’s flag, replacing the customary red and white hues with a combination of red, purple, black, and a purple cross. British Prime Minister ...
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News briefsHe will lead Nike’s design team
Nike has announced the appointment of Tim Hamilton, former creative Head at The North Face, to lead its design team. Hamilton shared his excitement about the new role on LinkedIn: “After five-plus years of leading global creative at The North Face, I am thrilled to announce my next chapter at ...
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ArticleMetamorfish makes customization infinite: “Everyone saw it as science fiction”
The problem with a bad fit could soon be over. Metamorfish has created a material with infinite customization possibilities.
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News briefsJP Morgan forms new sports-focused investment division
Global financial firm JP Morgan Chase has set up a new “sports investment banking coverage group” to advise clients in an increasingly lucrative industry, according to an internal memo seen by Reuters. The new team will be co-led by Eric Menell, Managing Director, co-Head of North American Media Investment Banking ...
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News briefsStella Intl. increases FY operating profit despite lower sales
Hong Kong-based Stella Intl. reported a 15 percent improvement in year-over-year operating profit to $152.0 million after changes in fair value of financial instruments. Annual Ebit rose by 21 percent to $161.3 million from $133.2 million and FY profit increased by 20 percent to $140.3 million. Stella’s annual revenues contracted ...
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News briefsWahoo appoints former Mercedes-Benz executive as CEO
Atlanta, Georgia-based exercise equipment manufacturer Wahoo Fitness has announced the appointment of Gareth Joyce as the company’s new Chief Executive Officer and a member of the Board of Directors. Joyce joins Wahoo from Proterra, Inc., where he also served as CEO. Prior to Proterra, he was responsible for one ...
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News briefsXXL completes €43 million share issue amid growth expectations
Norwegian sports retailer XXL has completed a targeted new share issue of 500 million Norwegian kronor (€43 million), according to a press release. The subscription price was set at 0.70 Norwegian kronor (€0.06), which aligns with the latest closing price. Among the buyers are venture capital firms Altor, Ferd, and ...
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News briefsOn Holding set to make Hong Kong debut amidst Asia-Pacific surge
Swiss sportswear brand On Holding is gearing up to establish its inaugural store in Hong Kong, marking its debut in the vibrant shopping scene of Greater China. The company, backed by tennis legend Roger Federer, has secured a prime spot spanning 3,000 square feet at H Queen’s, a prominent structure ...
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ArticleLululemon posts strong Q4 results, some Q1 softness in US
Lululemon’s operating income increased by 191 percent in Q4 to $913.9 million from $314.4 million for the period ended Dec. 31. Final period net income came in at $669.5 million, and gross margins increased by 430 basis points year-over-year to 59.4 percent. Revenues rose by 16 percent to $3.2 billion ...
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ArticleNike posts digital decline for first time in nine years
The brand now want to focus on new iterations of its Air technology, investments with its wholesale partners, and better storytelling.
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ArticleGrupo SBF improves key metrics in FY23
Brazilian Grupo SBF realized improvement in net debt/Ebitda ratio, inventory level, and cash generation in FY23 as it reported adjusted net profit of 183.5 million Brazilian reais (€33.7m) on a 12 percent increase in revenues to R$8.78 billion (€1.61b) and a 40-basis point improvement in gross margin to 47.4 percent. ...
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News briefsSun Mountain Sports strengthens sales force
Montana-based Sun Mountain Sports has expanded its sales force with the addition of two seasoned territory sales representatives, Chivonne Wilson for North Florida and Tom Funderburk for Oklahoma and Arkansas. They join a team of over 40 sales reps covering the US and Canada. “We are thrilled to welcome these ...
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News briefs‘Unaware of reported sale discussions’, says Topgolf Callaway
Topgolf Callaway Brands Corp. is reportedly contemplating the sale of its Callaway Golf business, as reported on Wednesday, March 21. The speculated valuation for the brand stands at an impressive $3 billion. While the potential sale focuses solely on the Callaway Golf segment, it suggests that Topgolf would remain unaffected ...
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ArticleFila Holdings continues to reshape business model
An ongoing recalibration of its sales channels in Korea and further inventory adjustments in the US were the key contributors to an operating loss.
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News briefsAn “excellent” FY 2023 at Inditex
Inditex’s full-year 2023 sales were up 10.4 percent to €35.9 billion, or 14.1 percent in constant currency. E-commerce accounted for €9.1 billion, up 16 percent. Sales were particularly strong in Europe outside of Spain, rising 48.7 percent. Gross profit rose 11.9 percent to €20.8 billion, with gross margin expanding by ...
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News briefsJD set to open larger store at Broughton Shopping Park
JD is set to enhance its presence in Chester with the unveiling of a bigger and upgraded store at the Broughton Shopping Park this weekend. The new location promises an expanded selection of products from brands like Nike, Adidas, The North Face, and Under Armour. James Air, Director and Head ...
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ArticleIs Topgolf Callaway on the market? South Korean sources says so
Speculation is swirling after a South Korean newspaper suggested that golf behemoth Topgolf Callaway might be up for grabs.
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News briefsLuanvi posts double-digit sales growth
Spanish sportswear manufacturer Luanvi saw its revenues increase by between 12 percent and 15 percent in 2023 compared with 2022, with sales reaching nearly €17 million, CMD Sport has reported. The company expects to post once again double-digit sales growth in 2024. Growth was supported by a new agreement ...
