Latest Headlines – Page 6
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ArticleSalomon launches third gen of Index recyclable running shoe
Source: Salomon Index.03 The Index.03, the third generation of the fully recyclable running shoe, will be available this spring and, according to Salomon, offers more comfort, performance and style at a more affordable price. The Index.03, which at just 249 grams is 14 grams lighter than its ...
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ArticleIIC reports another successful year
Intersport International (IIC) closed 2023 with retail sales totaling €13.7 billion. This matched the previous year’s record result despite a very challenging business environment. At the end of the calendar year, the Switzerland-based group had a network of 5,381 stores worldwide, an increase of 72 stores compared to the previous ...
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ArticleGymshark’s annual profit drops despite higher sales
UK-based sportswear company Gymshark, which closed its regional sourcing offices in Hong Kong and Mauritius and restructured its North American team last FY, suffered a 32 percent decline in annual operating profit to £20,087,000 (€23.5m) for the 12 months ended July 31, 2023. Net profit, impacted by a 320 percent ...
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ArticleGlobe spinning in right direction with shift in focus
Globe Intl., bolstered by a shift in key product focus to footwear and apparel, generated improved H1 results that included stronger profitability and cash flow from operations for the six months ended Dec. 31. The Aussie group reported a net profit of A$4.9 million (€3.0m) against a loss of A$0.2 ...
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ArticleWolverine makes progress on turnaround but more bumps likely
Wolverine Worldwide’s CEO leads turnaround, aiming for $140M profit gains in 2024. Despite Q4 losses, strides made in inventory and debt.
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ArticleKMD Brands sees soft H1 group sales
All three of KMD’s brands – Rip Curl, Kathmandu and Oboz – suffered a year-over-year sales decline in the first half that ended Jan. 31, with their aggregate revenues projected to be down by 14.5 percent to 469 million New Zealand dollars (€267.3m). Amid ongoing weakness in consumer sentiment during ...
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ArticleUnfair competition: HDE calls for clear rules for Temu & Co
In a time where German companys abide the rules and laws, masses of goods that violate all regulations are entering the German market.
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ArticleWinter sports industry unites for climate action, joins UN Race to Zero campaign
The Winter Sports Sustainability Network (WSN), managed by Peak 63 and the Federation of the European Sporting Goods Industry (FESI), in collaboration with Snowsports Industries America (SIA), announced the establishment of a transformative Climate Pact, bringing together prominent ski, snowboard, binding and boot brands from Europe and the US in ...
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ArticleSales at AFP up 8%, though short of expectations
All for Padel (AFP) – the racquet company within AFP Group, which holds the Adidas license to design, manufacture and commercialize pádel racquets, accessories and courts – had been hoping to generate €34 million in sales for 2023. However, this target was revised down to €31 million in September, and ...
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ArticleSpain’s FICE concerned over EU action on payment windows
The Spanish Federation of Footwear Companies (FICE) believes that proposed revisions to the EU’s directive on late payments will only make matter worse for Spain’s footwear companies, which since 2022 have been dealing with a Spanish law called “Create and Grow” (Ley Crea y Crece). This law has limited eligibility ...
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ArticleBalena & For Ever forge circular future for footwear
Balena’s collaboration with For Ever, one of the world’s largest outsole makers, marks a significant stride toward circularity in the footwear industry. The groundbreaking partnership, set to be unveiled at Lineapelle-Italy on February 20th, signals a pivotal moment in sustainable shoe manufacturing.
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ArticleDecathlon’s Kenyan running project, and some others
Decathlon has opened a training center for distance runners. Located in Iten, Kenya, with a rooftop view of the Rift Valley, the center consists of a 500-square-meter main building, with 11 bedrooms of 25 square meters each, a gym and a refectory. It is built to lodge 22 runners at ...
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ArticleAbsolute Run Kaufmann opens in Heilbronn
Absolute Run Kaufmann will open in Heilbronn, Germany, on Feb. 22, 2024. Behind the freshly converted store are Sport 2000 GmbH and partner Schuhhaus Kaufmann. The store in the city center, with 200 sqm of retail space, is the first Absolute Run store in the state of Baden-Württemberg. The Managing ...
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ArticleEOC launches Collective Progress Initiative, aiming to achieve net zero by 2050
With the launch of the Collective Progress Initiative, Elevate Outdoor Collective’s (EOC) global brands – K2 Skis, K2 Snowboarding, Marker, Dalbello, Völkl, Ride Snowboards, Line Skis, Backcountry Access, Atlas Snow Shoe Co, Tubbs Snowshoes, Madshus and K2 Skates – are working hand-in-hand to eliminate waste and maximize the recyclability and ...
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ArticleCrocs brand kicks off 2024 with momentum, $5 billion sales target not until later
The Crocs brand has started 2024 “with momentum” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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ArticleHanesBrands plots next moves for Champion business
Stephen Bratspies, CEO of HanesBrands, hinted about strategic alternatives for the company’s flagging Champion business but offered few specifics when speaking to analysts during the apparel company’s year-end conference call. “[…] the process is progressing as expected,” Bratspies commented, adding, “We continue to evaluate the right path forward as ...
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ArticleNike announces 2% workforce reduction
Nike has officially confirmed a 2 percent reduction in its workforce, following months of speculation. This decision aligns with the company’s goal to streamline operations and save up to $2 billion in costs over the next three years, as announced in December. CEO John Donahoe sent an internal memo to ...
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ArticleXponential completes divestiture of Stride Fitness
Xponential Fitness, the world’s largest franchisor of health and wellness brands, announced that it has finalized the divestiture of its Stride Fitness brand to Stride Fitness Franchising Inc., owned by Shaun Grove. Grove is currently the President of Rumble Boxing. Founded in 2017 by Misa Dugally and Katie Ownbey and ...
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ArticlePremier League launches “More Than a Game” campaign
The Premier League is launching “More Than a Game,” a campaign to showcase its investment in all levels of football and its impact on local communities. The Premier League’s financial support covers all 92 Premier League and English Football League (EFL) clubs and 72 National League clubs, as well as ...
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ArticleTopgolf Callaway forecasts higher revenue, Ebitda and cash flow in 2024
Topgolf Callaway, which is working on several synergistic strategies to connect and grow its various businesses, is forecasting modest cash flow growth this year before it ramps up between 2025 and 2028 and bolsters earnings per share expansion starting next year. Despite currency headwinds and a difficult year-over-year comparison for ...
