Latest Headlines
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ArticleWolverine Worldwide appoints new Chief Financial Officer
Wolverine Worldwide, the Michigan-based footwear company, has named Taryn Miller as its new Chief Financial Officer (CFO). Miller will report directly to Chris Hufnagel, the company’s president and CEO, and will commence her role on Thursday. Miller brings a wealth of financial expertise to Wolverine Worldwide, having previously served as ...
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ArticleAcushnet maintains H1 outlook despite slow Q1 start in some regions
The Titleist and FootJoy parent is maintaining its H1 outlook calling for a low-single-digit sales increase and year-over-year flat Ebitda despite a Q1 that was affected by a slow start to the golf season in some regions of the world. Operating income fell by 2.8 percent to $121.4 million from ...
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ArticleCanada’s Competition Bureau launches investigation into Lululemon’s environmental claims
Canada’s Competition Bureau has announced a formal investigation into Lululemon’s environmental assertions featured in its marketing campaigns, following allegations of misleading practices. Marianne Blondin, a spokesperson for the bureau, confirmed the probe to Canadian broadcaster CBC. Stand.earth, an advocacy group leading the charge, has accused Lululemon of engaging in greenwashing, ...
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ArticleNo more non-competes in the US
The US Federal Trade Commission (FTC) has deemed non-compete clauses to be unfair competition (in violation of Section 5 of the FTC Act) and issued a nationwide ban. Once the ban goes into effect – 120 days after its publication in the Federal Register – existing non-competes will no longer ...
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ArticleLIV Golf announces executive hires
LIV Golf has announced the appointments of David Phillipps as Chief Financial Officer, Ross Hallett as EVP, Head of Events, Katie O’Reilly as EVP, Head of Team Business Operations, and Pam Sacree as Head of Human Resources. Additionally, Tim Taylor has been appointed to a new EVP role and will ...
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ArticleBrooks Running posts strong Q1 results
The Berkshire Hathaway subsidiary Brooks Running reported 9 percent revenue growth in Q1 ended March 31 to equal the highest quarterly results in the company’s history. Brooks’ results were achieved by significant gains in many segments of its business. Year-over-year global e-commerce sales increased by 22 percent, and the brand’s ...
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ArticlePeloton reports another loss, restructuring as CEO departs
Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation continues down a bumpy path. The connected fitness company has initiated another restructuring effort resulting in annualized savings of more than $200 million and more job cuts – its third round in 26 ...
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ArticleGarmin gains on positive results from all segments
Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin improved by 120 basis points to ...
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ArticleAdidas sees strong Q1 metrics, better-than-expected results
Buoyed by improved results in many aspects of its business, from inventory level to gross margin, Adidas reported better-than-expected Q1 results. It said it was encouraged by the market progress that it is making despite a volatile and “not easy” overall marketplace. Operating income was €336 million, up from ...
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ArticleNike has a new rendition of “air”
Nike has come up with a third iteration of the “air” idea, this time with an AI twist. (We note in passing an obvious thing: that “AI” is two-thirds of “air.”) As Nike describes the proceedings, with this latest iteration – A.I.R., an acronym for ”athlete imagined revolution” – the ...
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ArticleA look at racquet sports in the US
RacquetX and marketing agency LaneTerralever (LT) published a report titled Who’s on the Court: A Profile of Today’s Racquet Sports Player, available online, to lay out the results of a survey they conducted in February of this year. The sample was 506 people in the US who have played “at ...
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ArticleA new era in Google search
Google is introducing a new form of search result called Search Generative Experience (SGE). It might change e-commerce.
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ArticleGymshark names GM, bolstering executive team for omnichannel expansion
Gymshark has announced the appointment of Hannah Mercer to the newly established role of General Manager, wholesale and retail, marking another significant addition to its executive team. Mercer brings experience to the brand, having spent six years at Adidas, where she served as Global Vice President, overseeing the brand’s retail ...
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ArticleAs wholesale recovers, Skechers raises 2024 sales and profit forecast
Skechers expects its sales to rise to between $8,725 million and $8,875 million in its 2024 financial year, up by 9 to 11 percent compared to the previous year, after wholesale sales posted a recovery in the first quarter and momentum continued in its DTC business. The guidance is up ...
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ArticleFoot Locker unveils new store concept at Willowbrook Mall
Foot Locker has introduced a new retail concept at its Willowbrook Mall location in Wayne, N.J., aiming to redefine the sneaker shopping experience. According to a statement, the new store format, designed to integrate customer insights and elevate service standards, “marks a significant step forward for the global footwear retailer”. ...
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ArticleMoncler brand revenues rose by 20 percent in Q1
The Milan-based luxury group Moncler realized 20 percent constant currency growth to €705.0 million for its namesake brand in the period ended March 31. DTC channel constant currency sales increased by 26 percent to €608.5 million, with all three global regions reporting double-digit improvement. Wholesale brand sales fell by 5 ...
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ArticleXXL reports stronger gross margin, lower sales in Q1
XXL ASA, which reiterated its objective to deliver 500-750 million Norwegian kroner (€43.9-65.8m) in Ebitda improvement over the next 12 to 15 months, delivered stronger gross margins but lower sales in Q1. It was the ninth consecutive quarter with negative growth for the Norwegian group that faced a difficult year-over-year ...
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ArticleRussia’s Sportmaster posts a 2023 revenue hike
Russian sporting goods behemoth Sportmaster solidified its position as the country’s largest fashion retailer in 2023, thanks to a 14 percent hike in revenue to 160 billion rubles last year. Sportmaster generated nearly 70 percent more revenue than Kari and twice as much as Gloria Jeans; the companies ranked second ...
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ArticleSprandi poised for comeback in Russia
Sprandi, a once iconic brand in the Russian market, can reportedly resume sales in the country after almost two decades of absence. At the end of 2023, a local wholesale supplier, A Sport, obtained several certificates of conformity from a Russian technical regulator, allowing it to sell sporting shoes under ...
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ArticleDecathlon closes one more store in Sweden, only has one left
Decathlon revealed plans to shut down three of its stores in Sweden, citing challenges amid the global economic climate. The closures will affect Decathlon Kungens Kurva, Decathlon Barkarby and Decathlon Uppsala, impacting a total of 72 employees. Explaining the decision, a Decathlon spokesperson stated: “The Swedish market is specific and ...
