Latest Headlines – Page 155
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ArticleISPO Munich Online 2021: Overview and most important links
Under the motto “Sport is stronger,” this week’s ISPO Munich Online (Jan. 1-5) will offer a great variety of new products, market trends and networking. In addition, attendees will have the opportunity to discuss important social issues for the future from a sports perspective. Due to the ongoing Covid-19 pandemic, ...
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WFSGI adds Jorge Casimiro and Steve Evers to its board of directors
The World Federation of the Sporting Goods Industry (WFSGI) has announced the election of Jorge Casimiro and Steve Evers to its board of directors. Evers, who is the CEO of IIC-Intersport International Corp., replaces Martin Künzi, chief financial officer of IIC, who will remain as treasurer of WFSGI. Casimiro ...
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ArticleIntersport’s global retail sales fell by 9% in 2020
Intersport International Corp. (IIC) reports a drop of around 9 percent on a currency-neutral and store-adjusted basis in its members’ retail sales across the world during 2020, but expects a rebound in the spring. In terms of euros and with The Athlete’s Foot (TAF) excluded, total retail sales fell by ...
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Europe helps drive VF’s momentum
After posting a loss for the first quarter of its financial year, ended June 30, VF Corp. bounced back in the second quarter, and the third fiscal quarter ended Dec. 31 confirmed this recovery, driven by Europe and China. The good progress, which was attributed to in part to investments ...
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ArticleMcKinsey + WFSGI: Winners and losers in a market that fell by 7% in 2020
Performing better than general apparel and other consumer goods sectors, the global sporting goods market declined by around 7 percent to around €285 million in 2020 because of the Covid-19 pandemic, according to a preliminary estimate made by McKinsey & Co. in a webinar hosted by the World Federation of ...
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ArticleRocky Brands invests $230m to buy footwear brands from Honeywell
Rocky Brands has agreed to acquire the performance and lifestyle footwear business of the U.S. conglomerate Honeywell International for $230 million. The deal is expected to close in the first quarter of 2021. The assets acquired are The Original Muck Boot Company, Xtratuf, Servus, Neos and Ranger. These brands posted ...
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JD confirms its search for extra funding opportunities
JD Sports Fashion confirmed that it is exploring additional funding options, possibly involving a non-equity placing, as it looks to increase “its flexibility to invest in future strategic opportunities.” The company confirmed the move after Sky News reported the group was in talks with advisors on a potential £400 million ...
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Nike questions a European tax probe
Nike has asked the European General Court in Luxemburg for the annulment of an investigation by the European Commission into the tax status of its Dutch-based European operations, according to Reuters, arguing that it has failed to prove that certain Dutch tax ruling in its favor amounted to illegal state ...
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Google probed again by the EU
Google is under dual investigations in the European Union for allegedly abusive practices in its advertising business. This month, according to Reuters, anti-trust regulators for the EU have sent to a number of advertisers a 13-page questionnaire regarding the “Include Google Display Network” default setting for search campaigns on Google ...
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Record market capitalization for Zalando as it expands in the Nordics
Zalando’s Connected Retail program has attracted many retailers in the Nordic countries, where it has been expanding recently its reach among consumers, notably with the creation of a dedicated Swedish website. Without specifying how many of them are sports stores, a spokesperson for the company said it has now around ...
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Grim indicators from GfK for the U.K.
British consumption registered a small uptick in December, especially in the distressed clothing sector, although online sales were reportedly not as buoyant as expected. However, the U.K.’s official exit from the European Union on Dec. 31 and a new extended coronavirus lockdown have apparently created a “perfect storm” that contributed ...
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Sports sponsorship market to post 6.7% CAGR through 2027, new study suggests
The global demand for sports sponsorships is expected to reach $89.60 billion a year by 2027, which would represent a compound annual growth rate (CAGR) of 6.7 percent from $57.00 billion in 2020, according to a new report by Brandessence Market Research and Consulting. Despite the impact of the coronavirus ...
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ArticleBoohoo, Asos make moves on major U.K. retail assets
Boohoo, the growing British online fast-fashion retailer has acquired the intellectual property assets of Debenhams, the oldest and biggest department store in the U.K., for £55 million (€75.3m-$69.1m) in cash, plus value-added tax. The takeover includes Debenhams’ big internet marketplace with the related customer data, contracts and other business information, ...
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DPD resumes U.K. road services to EU but post-Brexit disruption goes on
Shipments to and from the U.K. are just now beginning to return to normal after a major disruption connected with Britain’s formal separation from the EU on Dec. 31, complicated by Covid-19 tests at border points, according to several sources, although U.K. consumers are reportedly facing higher charges because of ...
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A strategic investment by Artémis in Goat Group
Groupe Artémis, which controls the Kering luxury group while remaining the biggest shareholder in Puma, has made an unspecified investment in the Goat Group, the online auction-based sneaker reseller. The idea is to help accelerate Goat’s growth, expanding its international reach and diversifying its business in the luxury sector, where ...
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ISPO Munich Online will host more than 500 exhibitors
As we reported more than once last year, the 2021 edition of world’s largest trade show will also be the first to go entirely digital. The reason is, of course, the Covid-19 pandemic and its attendant restrictions on travel and gatherings. ISPO Munich Online, as the event is being called, ...
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ArticleThe EOG and EDM intensify their partnership
In 2021, the European Outdoor Group (EOG) and EDM Publications (EDM), publisher of The Outdoor Industry Compass (OIC) and SGI Europe, among others, will build on an already existing successful relationship. Together, they want to reach bigger audiences with business information and news about the outdoor industry. Most recently, EOG ...
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ArticleA Li Ning unit may take over Clarks for £51m
Li Ning, the famous Chinese Olympic gold-medallist-turned-businessman, is about to take control of the iconic British shoemaker Clarks less than a month after its shareholders agreed in principle to sell most of their shares to a Hong Kong-based private equity firm, LionRock Capital. Li is the non-executive chairman of Lion ...
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Germany gives more aid to retailers affected by the extended lockdown
As expected, the German government has agreed with the federal states on a further extension of a lockdown for retailers that sell non-essential products until Feb. 14. In response to requests made by fashion and sports retailers that are heavily dependent on the sale of winter products, especially seasonal clothing ...
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Updated: Isn’t sports retailing an “essential” category?
The German government is widely expected to announce an extension of its lockdown for retailers of “non-essential” items as well as fitness studios and restaurants through Feb. 14, according to leading German media. The second German lockdown started on Dec. 16 and was supposed to end on Jan. 11, but ...
