Latest Headlines
-
ArticlePeloton reports another loss, restructuring as CEO departs
Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation continues down a bumpy path. The connected fitness company has initiated another restructuring effort resulting in annualized savings of more than $200 million and more job cuts – its third round in 26 ...
-
ArticleGarmin gains on positive results from all segments
Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin improved by 120 basis points to ...
-
ArticleAdidas sees strong Q1 metrics, better-than-expected results
Buoyed by improved results in many aspects of its business, from inventory level to gross margin, Adidas reported better-than-expected Q1 results. It said it was encouraged by the market progress that it is making despite a volatile and “not easy” overall marketplace. Operating income was €336 million, up from ...
-
ArticleNike has a new rendition of “air”
Nike has come up with a third iteration of the “air” idea, this time with an AI twist. (We note in passing an obvious thing: that “AI” is two-thirds of “air.”) As Nike describes the proceedings, with this latest iteration – A.I.R., an acronym for ”athlete imagined revolution” – the ...
-
ArticleA look at racquet sports in the US
RacquetX and marketing agency LaneTerralever (LT) published a report titled Who’s on the Court: A Profile of Today’s Racquet Sports Player, available online, to lay out the results of a survey they conducted in February of this year. The sample was 506 people in the US who have played “at ...
-
ArticleA new era in Google search
Google is introducing a new form of search result called Search Generative Experience (SGE). It might change e-commerce.
-
ArticleGymshark names GM, bolstering executive team for omnichannel expansion
Gymshark has announced the appointment of Hannah Mercer to the newly established role of General Manager, wholesale and retail, marking another significant addition to its executive team. Mercer brings experience to the brand, having spent six years at Adidas, where she served as Global Vice President, overseeing the brand’s retail ...
-
ArticleAs wholesale recovers, Skechers raises 2024 sales and profit forecast
Skechers expects its sales to rise to between $8,725 million and $8,875 million in its 2024 financial year, up by 9 to 11 percent compared to the previous year, after wholesale sales posted a recovery in the first quarter and momentum continued in its DTC business. The guidance is up ...
-
ArticleAlipay+ launches football carnival across Asia for Uefa Euro 2024 celebration
Alipay+, the mobile payment and digitalization technology arm of Ant International, is set to kick off an offline football carnival spanning Asia, aligning with Ant International’s global campaign for Uefa Euro 2024. Commencing on April 26 and spanning two months across four major Asian cities, the festivities aim to captivate ...
-
ArticleFoot Locker unveils new store concept at Willowbrook Mall
Foot Locker has introduced a new retail concept at its Willowbrook Mall location in Wayne, N.J., aiming to redefine the sneaker shopping experience. According to a statement, the new store format, designed to integrate customer insights and elevate service standards, “marks a significant step forward for the global footwear retailer”. ...
-
ArticleMoncler brand revenues rose by 20 percent in Q1
The Milan-based luxury group Moncler realized 20 percent constant currency growth to €705.0 million for its namesake brand in the period ended March 31. DTC channel constant currency sales increased by 26 percent to €608.5 million, with all three global regions reporting double-digit improvement. Wholesale brand sales fell by 5 ...
-
ArticleXXL reports stronger gross margin, lower sales in Q1
XXL ASA, which reiterated its objective to deliver 500-750 million Norwegian kroner (€43.9-65.8m) in Ebitda improvement over the next 12 to 15 months, delivered stronger gross margins but lower sales in Q1. It was the ninth consecutive quarter with negative growth for the Norwegian group that faced a difficult year-over-year ...
-
ArticleRussia’s Sportmaster posts a 2023 revenue hike
Russian sporting goods behemoth Sportmaster solidified its position as the country’s largest fashion retailer in 2023, thanks to a 14 percent hike in revenue to 160 billion rubles last year. Sportmaster generated nearly 70 percent more revenue than Kari and twice as much as Gloria Jeans; the companies ranked second ...
-
ArticleSprandi poised for comeback in Russia
Sprandi, a once iconic brand in the Russian market, can reportedly resume sales in the country after almost two decades of absence. At the end of 2023, a local wholesale supplier, A Sport, obtained several certificates of conformity from a Russian technical regulator, allowing it to sell sporting shoes under ...
-
ArticleDecathlon closes one more store in Sweden, only has one left
Decathlon revealed plans to shut down three of its stores in Sweden, citing challenges amid the global economic climate. The closures will affect Decathlon Kungens Kurva, Decathlon Barkarby and Decathlon Uppsala, impacting a total of 72 employees. Explaining the decision, a Decathlon spokesperson stated: “The Swedish market is specific and ...
-
ArticleJD Sports plans to acquire Hibbett in £899m deal, accelerating US expansion
JD Sports has announced its agreement to acquire US sportswear brand Hibbett for £899 million, aiming to accelerate its expansion in the United States. The move is expected to bolster JD Sports’ growth plans in North America, enhance its Complementary Concepts division, and strengthen its relationships with brand partners. Additionally, ...
-
ArticleAgilitas Sports obtains licence for Lotto in India, Australia and South Africa
New York-based brand management firm WHP Global announced a new long-term license for Lotto with Indian sportswear and athleisure solutions platform Agilitas Sports. The license gives Agilitas exclusive rights to design, manufacture, promote and distribute the Lotto brand in India, Australia and soon in South Africa. The acquisition of the ...
-
ArticleDFB Academy coaches bring German soccer to America
Germany’s football prowess is undeniable, with a rich history of success in both men’s and women’s competitions. Now, American youth players will have the opportunity to experience top-tier training under the guidance of DFB Academy Coaches, known for nurturing talents like Jamal Musiala and Florian Wirtz. The DFB Academy Coaches ...
-
AnalysisAnalysis: The top sporting goods industry performers by sales and profits in Q4 2023
Quarterly losses were much reduced in Q4, but overall results were still negative. Find out more in our latest scorecard.
-
ArticleEsports World Cup with record purse of $60 million
Are you sleeping on e-sports? In an unprecedented move signaling a monumental leap for competitive gaming, the Esports World Cup Foundation (EWCF) has unveiled plans for the inaugural Esports World Cup (EWC) with a staggering prize pool exceeding $60 million. This historic announcement sets a new benchmark ...
