Latest News – Page 13
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ArticleMartine Rose and Nike dissolve boundaries of men’s and women’s soccer styling
Source: Nike Nike x Martine Rose In her latest partnership with Nike, London-based designer Martine Rose dissolves the boundaries of men’s and women’s soccer styling with gender-neutral, tailored player suits. Connecting and merging the moments of “getting off the plane” to “arriving on the pitch,” the collection ...
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ArticleNike eyes “healthy, full price growth” as inventory woes dissipate
Having surpassed $51 billion in annual revenues and normalized its inventory level through markdowns and order cancellations, Nike says it’s better positioned than smaller rivals as it commences FY24 with a strategy to grow total revenues by mid-single digits, expand reported gross margin by 140 to 160 basis points despite ...
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ArticleAmer Sports gets upgraded by S&P Global
Amer Sports, the parent of Arc’teryx, Salomon and Wilson brands, last week received an upgrade on its credit rating to B+ from B and a stable outlook from S&P Global. The credit rating agency, which is projecting revenue growth of 17 to 18 percent for Amer this year and 8 ...
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ArticleVans replaces The Vault with OTW by Vans as its new top product category
Vans has unveiled its new top category called OTW by Vans. The VF Corp brand explains that it is a “new platform where the brand’s most elevated product expressions and brand experiences come together with the innovators of art, design, style, skate culture and entertainment.” As a result, the previous ...
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ArticleRussian athletic apparel market in turmoil
The Russian market for sportswear has become strained with the departure of industry leaders Nike, Adidas, Puma and Reebok, as well as smaller European players, over the past year, according to several Russian publications. This segment has suffered much more from Western sanctions than the sporting goods market in general. ...
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ArticleAnalysis: Double-digit increase in sales per employee in 2022
We bring you employee numbers at the world’s biggest sporting goods companies, sales per employee, and how these compare with other industries.
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ArticleLogitech CEO takes over vacant leadership position at VF
Source: VF Corp. Bracken Darrell Some 7 months after Steve Rendle decided to retire from the company after more than five years as Chairman, President and Chief Executive Officer and nearly 25 years of service, VF Corp – owner of Vans, The North Face, Timberland and Dickies, ...
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ArticleUnions send open letter to Adidas demanding workers be compensated from Yeezy profits
In response to Adidas’ announcement to begin selling off Yeezy products, unions united in the Pay Your Workers - Respect Labor Rights (PYW-RLR) trade union committee have written an open letter to Adidas CEO Bjørn Gulden. In the letter, they support the company’s pledge to donate proceeds from the sale ...
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ArticleSporting Goods 2022 – The top companies worldwide by sales and profit
Our updated 2022 Sporting Goods Scorecard brings you the industry winners, with revenue & profit development of 47 sporting goods companies.
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ArticleNike to transport goods with hydrogen-powered inland container ship
Nike has launched the world’s first hydrogen-powered inland container ship, the “H₂ Barge 1.” The vessel will transport Nike products for Europe and operate between Rotterdam in the Netherlands and Nike’s European Logistics Campus (ELC) in Belgium. Source: Nike H₂ Barge 1 Across Europe, 99 percent of ...
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ArticleSenior executive changes at Nike to deepen consumer-led growth
Nike announced a series of executive changes May 24 that it says build on the company’s “strong momentum” and underscore Nike’s commitment to product innovation, athlete mentorship and “unrivaled brand storytelling while driving deeper integration across the business.” Source: Nike, Inc. Heidi O’Neill Heidi O’Neill becomes the ...
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ArticleVF Corp. has a “realistic” turnaround strategy in place
VF Corp., which has begun a rigorous six- to 12-month process to find a new CEO, says it has a plan in place that will improve its sales and profitability fortunes over the next 12 months. It centers on continued growth for its The North Face (TNF), EMEA, and direct-to-consumer ...
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ArticleFoot Locker lowers full-year outlook on “challenging backdrop”
Foot Locker, after reporting a 73 percent drop in Q1 operating income to $61 million and an 11.4 percent decline in total sales to $1,927 million for the period ended April 29, dialed back its FY23 outlook for revenues, comp sales and gross margin for the 12 months. The news ...
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ArticleAdidas to sell Russian business
Adidas mulls selling its Russian business to another foreign investor or passing it to local management, Russian newspaper Kommersant reported, citing sources on the local market. One of the sources claimed that the eventual target is to relaunch the 100 most profitable stores, which have stood idle since October 2022. ...
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ArticleAdidas may have a solution for Yeezy inventory
Reports coming from Adidas’ “Hauptversammlung” (AGM) indicate that the company may now have a solution for the surfeit of Yeezy inventory it finds itself left with after terminating its partnership with rapper and fashion designer Ye (formerly known as Kanye West). As reported in its Q1 call last week, if ...
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ArticleUnder Armour’s new CEO establishes strategy as latest earnings announced
Coming out of FY23 where sales and profitability increased but gross margin slipped due mostly to currency impact and the promotional environment in its home U.S. market, Under Armour is charging forward under new CEO Stephanie Linnartz with its new “Protect This House 3” objectives.
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ArticleAdidas begins "bumpy year" with flat revenues, big operating income decline
After working aggressively and diligently in his first 90 days on the job to simplify and accelerate processes at Adidas, CEO Bjorn Gulden is straightforward when offering a brand assessment for the company in both the short and long term. “Adidas has all the ingredients to be the best ...
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ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
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ArticleAdidas hit with shareholder lawsuit over Kanye West relationship
The proposed class action suit, filed in U.S. federal court in Oregon on April 28, names Adidas AG, the company’s former CEO Kasper Rorsted, and current CFO Harm Ohlmeyer as defendants. The 26-page complaint, filed on behalf of Adidas investor HRSA-ILA Funds and other shareholders, accuses the company of ignoring ...
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ArticleColumbia’s Q1 revenues bolstered by early spring shipments, DTC channel
While Columbia Sportswear generated both lower gross and operating margins in Q1, the company was able to report 10 percent constant-currency revenue growth to $820.6 million thanks to early shipments of Spring 2023 wholesale orders and a reported 4 percent increase in direct-to-consumer sales to $368.1 million. “2023 is off ...
