Latest Headlines – Page 107
-
ArticleESG Report 2022: Alibaba reduces carbon footprint by 620,000 tons using renewable energy
Alibaba Group announced that it has saved 619,944 metric tons of carbon dioxide equivalents over the past 12 months by using clean energy sources to achieve its goal of carbon neutrality. That savings is equivalent to the amount of carbon dioxide generated by 12,915 U.S. households in a year, according ...
-
ArticleWhy sporting goods industry inventories rose by 57% in Q2 2022
The aggregate inventory level for 28 public sporting goods companies, tracked by SGI Europe, rose more than 57 percent year-over-year to more than €31.9 billion at Q2 end and was up by nearly 32 percent from the end of 2021 when it stood at €24.27 billion. Eleven companies had inventory ...
-
ArticleNew Wave Group acquires B.T.C. Activewear
New Wave Group, the Swedish parent company of Craft, Seger, Auclair, Derby of Sweden, D.A.D. Sportswear, Speedo and a dozen other sports and leisure brands, as well as roughly three dozen corporate, gift and home furnishings brands, has acquired 100 percent of B.T.C. Activewear Limited, a British promotional, corporate and ...
-
ArticleChairman of Pou Sheng resigns, successor already in place
The board of directors of Hong Kong-based company Pou Sheng International, the retail subsidiary of Yue Yuen Industrial, has announced that Lee Shao-Wu has resigned from all of his positions at the company, including those of chairman, executive director, chairman of the disclosure committee, authorized representative of the company and ...
-
ArticleSports Direct pledges to donate footballs to encourage girls’ participation in the game
Sports retailer Sports Direct has launched the Equal Access campaign, donating free footballs to grassroots clubs across the U.K. The company is responding to the most recent historic moment for women’s football and the growing call for more opportunities for girls to play the game. The campaign is part of ...
-
ArticleNike teams up with ILO to reduce road accidents among garment and footwear workers
The International Labour Organization’s (ILO) Vision Zero Fund and Nike Inc. have launched a joint initiative to reduce deaths and injuries among garment and footwear workers. The initiative aims to understand why garment and footwear workers are so vulnerable to injuries and fatalities resulting from commuting accidents and to develop ...
-
Article
Lululemon stays on strong course, no change to markdown strategy
Lululemon’s net income rose 39 percent to $289.5 million from $208.1 million as total revenues increased by 28.8 percent to $1.87 billion from $1.45 billion. Operating income was 38 percent higher at $401.2 million versus $291.0 million. Gross margin slipped by 160 basis points to 56.5 percent from 58.1 percent, ...
-
ArticleElan receives Green Star recognition
The sustainable actions taken by Slovenian ski manufacturer Elan have been awarded Green Star, the first certification of its kind for contributing to carbon neutrality and a greener future. The CER Sustainable Business Network, a Slovenia-based independent auditor, uses science-based metrics and data to set strategic priorities ...
-
ArticleOn releases 2021 Impact Progress Report
On Holding AG has released its 2021 Impact Progress Report, providing a comprehensive view of its approach to and progress on its sustainability initiatives across the Company. Key highlights in the priority areas include: On is taking big strides on its sustainability mission, having delivered the first fully recyclable ...
-
ArticlePeloton Interactive posts $1.24 billion Q4 loss
Peloton Interactive’s CEO Barry McCarthy, in his quarterly shareholder letter, compared the interactive fitness company to a cargo ship like one he worked on as a high schooler, but perhaps he should have considered a cruise ship comparison given the company’s needs to attract more younger, female and value-oriented customers ...
-
ArticleReducing energy costs in European retail: a colder, darker winter
With energy prices skyrocketing and the need to replenish gas reserves before winter, everyone is doing their part, and global energy conservation measures have already been taken in the retail sector. While customer service and satisfaction are top priorities in retail, stakeholders may be reluctant to engage in actions that ...
-
ArticleCallaway Golf to change company name
Callaway Golf Company announced plans to change its corporate name to Topgolf Callaway Brands Corp. Following the company’s merger with Topgolf in 2021, “the name change reflects Callaway’s dynamic brand portfolio that has unmatched scale and reach across the full modern golf and active lifestyle ecosystem, including on- and off-course ...
-
ArticleXtep profit jumps 38 percent in H1
The operating income of Chinese sportswear brand Xtep International rose 34.8 percent to 922 million yuan renminbi (€130.9m) for the six months ended June 30, with attributable profit increasing 38.4 percent to RMB 590 million (€83.8m). The operating profit margin slipped slightly to 16.2 percent from 16.5 percent. Total ...
-
ArticleTrans-Textil introduces water-based, breathable and waterproof functional layers
Trans-Textil, a German developer and manufacturer of functional textiles, presented its Topaz Purable functional systems based on aqueous technologies to a wider trade audience for the first time this summer at Techtextil in Frankfurt. The company completely eliminates the use of organic solvents in production. In combination with its PFC-free ...
-
Article361 Degrees reports 8.7 percent gain in H1 operating income
361 Degrees, which has opted against an interim dividend to preserve cash for the long-term and help meet challenges, generated an 8.7 percent increase in first half operating income to 771.9 million yuan renminbi (€109.6m) for the six months ended June 30. The operating profit margin slipped to 21.1 percent ...
-
ArticleE-commerce, DTC model bolstered Anta H1 Sales
Anta Sports Products recorded a 13.8 percent increase in first half revenues to 25,965 million yuan renminbi (€3,687.0b) thanks to contributions from its direct-to-consumer and e-commerce segments, which helped to offset a 34 percent sales decline in its traditional wholesale business that was adversely impacted by the pandemic. DTC sales ...
-
ArticleNorwegian sports specialty market grew by 3.6% in 2021
According to data compiled by the Norwegian sporting goods industry association, Norsk Sportsbransjeforening, Europe’s highest per capita sporting goods market recorded a 3.6 percent increase in 2021 among its nine top banners to 14,875 million Norwegian kroner (€1.46b) from 14,363 million in 2020. The trade group intends to release a ...
-
ArticleCanada Goose appoints president for its China business
Source: Canada Goose Larry Li, president China Canada Goose announced the appointment of Larry Li as president China, effective immediately. In this role, Li will oversee all business operations of the Canadian brand in mainland China, including retail, marketing and finance. He will be based out of ...
-
ArticleFoot Locker lowers FY22 outlook slightly, but stock soars on CEO hire
U.S. retail chain Foot Locker, which operates 630 doors across Europe, has modified its FY22 outlook downward due to likely additional pressures on its H2 business. But the revision, coupled with a 9 percent decline in second-quarter sales and a 76 percent drop in Ebit for the period ended July ...
-
ArticleKasper Rorsted to leave Adidas
Source: Adidas AG Kasper Rorsted, CEO Adidas AG has announced that Kasper Rorsted, CEO, and the company’s supervisory board have mutually agreed that Rorsted will step down from his position in 2023. The search for a successor has already begun. Rorsted will continue as CEO until a ...
