Latest Headlines – Page 9
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ArticleXXL promises Ebitda improvements amid cost-cutting
Norwegian retailer XXL ASA, in reporting weak Q4 and FY 2023 results, said it will continue to implement its “Reset & Rethink” strategy this year to deliver Ebitda improvement of 500-750 million Norwegian kroner (€43.9–65.8m) over the next 12 to 18 months. The effort will focus on a continued consolidation ...
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ArticleDecathlon releases VR shopping app in US
Decathlon has introduced in the US a new, “immersive” shopping app for the Vision Pro, Apple’s virtual-reality (VR) headset. Both the app and the headset hit the US market on Feb. 2. The app, says Decathlon, is designed to “enable customers discover the company’s latest outdoor and ...
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ArticlePuma gets “A” rating for second year running on CDP Climate Change list
Puma keeps collecting all the accolades.
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ArticleThe North Face, EMEA stronger in “challenging” VF quarter
VF Corp. may not look the same in thee future. As they report disappointing Q3 results, the company has inititated a “strategic review of its brand assets”.
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ArticleSneaker design democratized? Zellerfield launches design platform
Zellerfield have created a possibility for brands to use their design platform to create their own shoe models. This is how it works.
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ArticleSympatex adds two experts to sales team
Sympatex has expanded its sales team with Eric Brendel and Leandra Reisner as Business Development Managers. They are starting immediately. Reisner is an expert in sustainable textile innovations. The trained textile and clothing technician most recently worked as a sales representative at Weichert Agencies GmbH, where she was largely responsible ...
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ArticleDescente’s operating profit dips despite higher sales
Higher SG&A costs related to additional brand promotions contributed to a 12 percent decline in Q3 operating income to ¥6,434 million (€40.2m) at Descente. But higher athleticwear sales offset a decline in golf apparel sales and led to a 4.6 percent gain in total revenues to ¥90,100 million (€56.3m) for ...
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ArticleDunlop renews IMG Academy deal
Dunlop has signed a second, multi-year renewal of its sponsorship deal with the IMG Academy, a Florida establishment that was founded in 1978 as the Nick Bollettieri Tennis Academy and has since expanded into a variety of collegiate sports. It runs a boarding school and camps for high-schoolers with athletic ...
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ArticleDeckers raises FY guidance, sets CEO succession plan after strong results
Bolstered by strong Q3 gains in the DTC channel, Deckers Brands has reported 35 percent operating income growth, 16 percent revenue expansion on a reported basis, and a 570-basis-point increase in gross margin for the period ended Dec. 31. With the strong results, the Ugg and Hoka parent raised its ...
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ArticleReal Madrid becomes football club with highest revenue, says Deloitte report
Deloitte’s Sports Business Group has released the 27th edition of its Deloitte Football Money League. The report reveals the 20 highest-revenue-generating football clubs globally for the 2022/23 season. Real Madrid generated record revenues of €831 million, representing an increase of €118 million compared with the previous year, and knocked Manchester ...
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ArticleMacron posts 15% sales increase
Italian teamwear brand Macron has announced a 15 percent sales increase to €196 million in 2023. Growth was homogeneous across the various markets in which the company operates, with excellent performance in its three main markets, including the UK, Italy, and Spain. International sales account for 80 percent of Macron’s ...
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ArticlePeloton Interactive disappoints despite some clear gains
Despite making some strides in Q2, Peloton Interactive did not live up to future sales expectations. The company is now forecasting a Q3 revenue range of $700 to $725 million, below average market guidance of $755.6 million and 3.2 to 6.5 percent below the year-ago quarter’s $749 million. That shortcoming ...
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ArticleChina's luxury demand boosts Canada Goose in Q3
Increased demand for luxury goods in China contributed to a reported 62 percent increase in Asia-Pacific sales at Canada Goose to C$270.7 million (€186.3m) for the third quarter ended Dec. 31. All other geographies posted double-digit declines in sales, including a 26 percent decline in the EMEA to C$86.8 million ...
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ArticleColumbia faces revenue decline challenge
With a warm winter and a difficult US marketplace to contend with in its seasonally strong final quarter of the year, Columbia Sportswear reported a 27 percent drop in operating income to $113.1 million from $155.4 million and a 9 percent decline in total revenues to $1.06 billion from $1.17 ...
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ArticleCrocs EVP Michelle Poole announces retirement
Crocs, Inc. announced today the retirement of Michelle Poole, EVP & President of the Crocs brand. To ensure a seamless transition, she will remain in her role until early May, after which she will join the company’s advisory board until the beginning of 2025. Anne Mehlman, the current EVP & ...
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ArticlePayPal introduces six new checkout innovations
PayPal and Venmo have unveiled a revamped checkout and guest checkout experience. Additionally, they’ve launched a new advanced offers platform for merchants and a new consumer app aimed at earning cash back and providing customers with more incentives to shop with PayPal. The new updates on Venmo are designed to ...
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ArticleAdidas eyes €500m operating profit for FY24, most Yeezy inventories won't be written off
Adidas published preliminary FY23 results and sales and operating profit guidance for FY24 yesterday. In a statement, CEO Bjørn Gulden said the outlook for FY24 is “the next building block needed to bring Adidas back to a company with a double-digit growth and 10 percent operating margin.” Markets in ...
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ArticleDone deal: PGA Tour announces investment agreement with Strategic Sports Group
It’s official. After weeks of speculation, the PGA Tour has announced a partnership with the Strategic Sports Group (SSG), a consortium of investors and sports franchise owners, to infuse $3 billion into the Tour. This agreement will establish PGA Tour Enterprises, a commercial venture under PGA Tour’s control. Players will ...
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ArticleSports industry contributes 1.3% to Italy’s GDP, new report shows
Italy’s sports industry is worth €22 billion and contributes 1.3 percent to the nation’s gross domestic product (GDP), according to a new report. “Rapporto Sport 2023” was presented on Jan. 30 by Istituto per il Credito Sportivo (ICS) and Sport e Salute, an Italian public body that ...
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ArticleSkiStar tests fossil-free ski resort
The Scandinavian ski resort operator SkiStar is taking a significant step in the transition to fossil-free operation and is testing the complete electrification of a ski resort. The pilot project is being carried out at SkiStar’s Hammarbybacken ski resort in Stockholm. With the pilot project, SkiStar wants to show that ...
