Latest Headlines – Page 148
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ArticleVietnam becomes more self-sufficient in footwear design and components
Lefaso, Vietnam’s Leather, Footwear and Handbags Association, expects its industry to achieve exports of more than $20 billion this year after suffering from a decline last year due to the impact of the Covid-19 pandemic on supply chains, consumption and trade. They could double in three to four years’ time ...
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ArticleReportedly planning to go public, Signa Sports United boosts management
Signa Sports United (SSU), the online sporting goods retailing group controlled by Signa Retail, is in talks to go public through a merger with a blank-check SPAC company, Reuters reported. Quoting “two people familiar with the matter,” the news agency says the company is in preliminary talks with Yucaipa Acquisition ...
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Technogym’s overall revenues drop by 24%, but home fitness jumps by 71%
Technogym reported revenues of €510 million for 2020, representing a decline of 23.8 percent from 2019. The home fitness segment, strongly driven by stay-at-home measures during the Covid-19 pandemic, saw revenues jump by 71 percent to €154 million. The strong performance of the home fitness segment, which accounted for 30 ...
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ArticleTeva works to divert products from landfills with new sandal recycling initiative
Teva has partnered with an international recycling company, TerraCycle, to launch the TevaForever program to give worn-out Teva sandals a new life. The recycling program underscores Teva’s commitment to reducing its environmental impact and keeping waste out of landfills. Participating in the program is simple: Customers log on to Teva.com ...
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ArticleStockX’s value surges to $3.8 billion
StockX, the American online market for sneakers, raised $195 million in a secondary tender offering by some of its employees’ shares and an additional $60 million in Series E-1 primary shares at a $3.8 billion valuation. Altimeter Capital led the all-cash offer, with the participation of existing investors and of ...
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ArticleAsos posts record profits on lockdown shopping boom
In the first half of its financial year ended on Feb. 28, the British online retailer Asos more than tripled pre-tax profits to a record £106.4 million (€122.8m-$145.8m). The company raised its expectations for the full year as it continues to benefit from the Covid-19 pandemic. While the switch to ...
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ArticleConsumers are ready to spend more, despite the lockdowns
German consumers are known to be keen on saving money when there is an economic crisis. Faced with what they call the “Corona crisis,” they have saved an estimated €230 billion since March 2020, when the crisis began, but they are said to be eager to spend more again once ...
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Good performance for Stadium in Sweden
Stadium, the leading Swedish sporting goods retailer, performed relatively well in the financial year ended on Aug. 31, 2020, partly because of higher sales over the internet and looser anti-Covid restrictions in Sweden than in other countries. On the negative side, there was hardly any winter season between 2019 and ...
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ArticleHervis will focus on four sports
Hervis Sports, the largest integrated sporting goods retail chain in Austria, wants to concentrate more on bikes, outdoor, running and snow sports in the future, without ignoring fitness, football or other categories, said Werner Weber, who became CEO of the company in November 2019, in a virtual press conference held ...
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Unmade expands collaboration with New Balance to teamwear
A London-based software company, Unmade, is expanding its collaboration with New Balance Team Sports from footwear to team clothing in the U.S. A spokeswoman for New Balance says there are no plans to implement the project in Europe, but we find it interesting enough to report about it. The project ...
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Centauro’s parent returned to a profit in Q4
The fourth quarter of 2020 saw a return into the black for Grupo SBF, the parent company of Brazil’s leading sporting goods retail chain, Centauro, and the new Brazilian distributor of Nike since December. After six difficult months, due to the Covid pandemic, the public company posted a net profit ...
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Umbro’s parent narrows its losses
Lower trademark impairment charges allowed the Iconix Brands Group to reduce its net losses for the fourth quarter of 2020 as well as the full financial year, in spite of lower revenues from its licenses due to the Covid-19 pandemic. Another positive factor for the full year was a gain ...
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New “Made” brand launches individually designed outerwear
Indiegogo, the international crowdfunding platform specializing in tech and innovative products, has announced the launch on its website of new brand of outerwear, called Made, that can be designed by the customer and tailored on each wearer. The project will start with a hard-shell ski and snowboard jacket. The Made ...
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ArticleSporting goods industry stocks rose by 10.9% in Q1 2021
Confirming the resilience of our industry, the average stock market value of 38 selected public companies in the sporting goods sector advanced by 10.9 percent in the first three months of 2021. Comparatively, the main stock indices grew by only between 2.4 percent and 8.5 percent over the period.
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Selling shoes becomes an essential service in Bavaria
The ANWR Group, which is also the parent company of Sport 2000 in Germany and three other countries, has obtained a court verdict in Bavaria that allows its own 19 Schuh Mücke shoe shops to open their doors in the state as of April 1, despite a nationwide retail lockdown, ...
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ArticleBetter-than-expected results for Thule Group
Thule Group achieved better-than-expected results in 2020 by riding the strong global bike trend that started in June. Sales rose by 11.2 percent from the previous year to 7,828 million Swedish kronor (€777.1m-$942.7m) or 13.1 percent in constant currencies. In its annual report, the Swedish company attributed these results to ...
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After posting brilliant results, Lululemon will form three regions
The yoga apparel specialist seems unstoppable, posting sales and earnings for the fourth quarter that were at the high end of its forecasts. Lululemon Athletica saw its net income progress by 11 percent from the year-ago quarter to $329.8 million. The gross margin rose by 0.6 percentage points to 58.6 ...
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ArticleSuez Canal trade route has re-opened, but…
The already strained global supply chain could not be in worse conditions at a time when the economy is gearing up for an expected post-Covid jump in consumer demand, assuming that the current vaccination campaigns and remaining lockdowns will stop the spread of the virus. Adding to the reported harbor ...
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Industry and governments react to Myanmar military coup
Pou Chen, the Taiwanese group that controls Yue Yuen, announced on March 30 that it has decided to shut down temporarily its production of athletic shoes for Adidas and Nike in Myanmar for safety reasons. The local management and essential staff will remain in place for maintenance purposes. A Taiwanese ...
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Masks offset lower sportswear sales at Shenzhou
Shenzhou International Group Holdings, one of the major Chinese apparel manufacturers, reported nearly flat earnings and slightly higher sales for the year ended Dec. 31, thanks in part to its diversification into the manufacture of face masks, which were sold in large quantities in Japan. Its sales of sportswear, which ...
