Latest Headlines – Page 110
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ArticleAdidas cuts FY 2022 guidance on China weakness and potential slowdown in other markets
Adidas has adjusted its top line 2022 guidance due to a worsening outlook for its Greater China business. While second-quarter 2022 results slightly exceeded expectations, given continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has reported a slower-than-expected recovery in China since the ...
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ArticleFirst professional baseball league to be established for India, Pakistan and the Middle East
Source: UIBL UIBL executive team (left to right): Kanwal S. Sra, founder, chairman and CEO; Mariano Rivera, co-president; Kash Shaikh, president and CMO Under the name and organization of the new United International Baseball League (UIBL), professional baseball is to be brought to India, Pakistan and the ...
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ArticleSkechers adopts cautious H2 outlook, plans further distribution center investments
Skechers – citing currency impacts, persistent supply chain woes, a slower pace of recovery in China, and an overall uncertain global economic environment – is taking a “cautious view” for the remainder of 2022 after reporting record quarterly revenues. Describing a volatile supply chain environment over the last 4 to ...
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ArticlePádel meets domotics
Smart Padel Automation has established a (non-exclusive) partnership with Playtomic to deliver a package of services that could render pádel clubs all but automatic and relieve them of the need for staff. Established in January and headquartered in Madrid, Smart Padel derives its tech from a ten-year-old Galician company called ...
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ArticlePuma raises FY revenue outlook, maintains Ebit forecast
Puma, bolstered by its strong first-half sales despite persistent global headwinds, has increased its financial year 2022 revenue forecast to mid-teens currency-adjusted growth from a prior outlook of at least 10 percent sales expansion. Various factors, however, ranging from higher freight costs to rising raw material prices, will dilute the ...
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ArticleShimano sees strong H1 demand despite “cooling down” signs
Shimano reported a 22.4 percent increase in net income to 68,558 million Japanese yen (€491.6m) for the six months ended June 30. Operating income was 15.7 percent higher for the period at ¥80,909 million (580.2m) versus ¥69,922 million in the year-ago period. Pearl Izumi U.S. was excluded from the reported ...
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ArticleAlibaba seeks initial listing on Hong Kong Stock Exchange, maintains listing on NYSE
Alibaba’s board has authorized the management to apply for an initial listing on the Main Board of the HKSE while also remaining listed in New York.
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ArticleItaly’s sports economy contributes €24.5 billion to national GDP, a 1.9% increase
The contribution of the sports economy to Italy’s gross domestic product (GDP) is around €24.5 billion, namely 1.37 percent of the country’s total GDP, and a workforce of 420,000 people, according to a recent report by Istituto per il Credito Sportivo (ICS). The study titled Il PIL dello sport. La ...
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ArticleThe French Triman logo and the Extended Producer Responsibility (EPR)
In France, a new law requires companies to use the so-called Triman logo. What everybody doing business in France needs to know.
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ArticleGoogle installs seamless shopping with new Shopify tool on Youtube
By installing a new Shopify connection on Youtube, the internet company is expanding the business opportunities for content creators, like influencers and brands. Up to now, Youtube creators were able to promote and sell products in live videos on Youtube – but for the purchase transaction, a change of platforms ...
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ArticlePost-lockdown China unlikely to hit annual growth target
China’s GDP appears to have shrunk from the first to the second quarter of this year. The 2.6 percent decline was steeper than the 1.5 percent decline predicted in a poll of financial analysts conducted by Reuters. China itself, in the statement issued by its National Bureau of Statistics, says ...
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ArticleFrasers Group recovers from Covid and posts rising profits
Frasers Group, the owner of Sports Direct, reported a “record-breaking year” following the successful recovery from the pandemic.
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ArticleFrasers Group’s former auditors fined in the U.K.
The U.K.’s Financial Reporting Council (FRC) has sanctioned the firm of Grant Thornton and its former partner Philip Westerman for insufficient rigor in audits.
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ArticleRussia sees hike in online sales of sporting goods as fears rise over counterfeits
Russia’s largest online retailers have registered booming demand for sporting goods in the first half of 2022. Learn about the details.
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ArticlePandemic curbed organized sports in Italy, but physical activity is on the rise
The number of registered sports participants in Italy dropped by 1,760,000 units in the 2019/20 period. The number of sports associations declined as well, with 5,166 of them shutting down during the two-year period. These are the key elements that emerge from I Numeri dello Sport 2019-2020 (Tr.: The Figures ...
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ArticleAdidas releases factsheet on its diversity, equity and inclusion
Set up in 2020, the ”Creating Lasting Change Now” program defined goals for enhancing diversity, equity and inclusion within the global Adidas company, while encouraging business ownership, accountability and transparency among its employees. The brand has now provided an update on those commitments, focusing on greater diversity, equity and inclusion ...
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ArticleMcKinsey study on textile waste recycling sees economic potential, points out bottlenecks
In a new online study, consulting firm McKinsey looked at the current state of textile recycling in Europe – and sees the potential to achieve a significant amount of fiber-to-fiber recycling in Europe by 2030. There are several hurdles to overcome along the way, including textile collection, sorting and pre-processing, ...
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ArticleXXL ASA’s Q2 profits dip 81% on lower sales
XXL ASA experienced decelerating sales and waning consumer sentiment for sporting goods in its Scandinavian markets from mid-May, which continued through June, a typically important month for the category. With CEO Pål Wibe slated to step down from the executive position today over disagreements regarding the company’s strategic direction, CFO ...
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ArticleSinking euro signals EU’s slowing economic growth
For the first time in nearly two decades, the euro and U.S. dollar yesterday nearly reached 1-for-1 parity. That suggests a recession is on the horizon for the European Union, contends some economists. Experts contend there are several reasons the euro against the dollar has depreciated 12 percent since the ...
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ArticleSri Lanka apparel forum sees apparel sector unaffected by political turmoil
In the face of the current political development in Sri Lanka, the country’s Joint Apparel Association Forum (JAAF) has called on all party leaders to urgently clear the way for an all-party government with elections as soon as possible to restore stability and rebuild confidence in the country - locally ...
