Latest News – Page 2
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ArticleColumbia faces revenue decline challenge
With a warm winter and a difficult US marketplace to contend with in its seasonally strong final quarter of the year, Columbia Sportswear reported a 27 percent drop in operating income to $113.1 million from $155.4 million and a 9 percent decline in total revenues to $1.06 billion from $1.17 ...
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ArticleAdidas eyes €500m operating profit for FY24, most Yeezy inventories won't be written off
Adidas published preliminary FY23 results and sales and operating profit guidance for FY24 yesterday. In a statement, CEO Bjørn Gulden said the outlook for FY24 is “the next building block needed to bring Adidas back to a company with a double-digit growth and 10 percent operating margin.” Markets in ...
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ArticleRussia faces 50% increase in prices for European sporting goods
In the foreseeable future, the price of European sporting goods can jump by 50 percent, owing to expensive logistics and other difficulties associated with returning foreign brands to the shelves, Marina Malakhatko, head of the retail department of Core.XP, a Moscow-based real estate firm, told local state news outlet Tass. ...
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ArticleCampion to leave Nike after 17 years, joins UCLA
Nike’s current Managing Director of Strategic Business Ventures, Andrew Campion, is planning to leave the company on April 5, according to a recent filing with the US Securities and Exchange Commission (SEC). Campion, who has worked at Nike for 17 years, stepped into this very role in May last year. ...
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ArticleNew CPO, President of Americas at Under Armour
Under Armour (UA) has appointed Yassine Saidi as Chief Product Officer and Kara Trent, the current Managing Director for the company’s EMEA region, as President of the Americas. With nearly two decades of industry experience, Saidi has previously held positions at both Adidas and Puma. According to UA, he brings ...
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ArticleNike eyes innovation, cost cuts to drive future results
Citing increased macroeconomic headwinds around the globe, particularly in the EMEA and Greater China, Nike is stepping up its strategic approach to innovation and numerous cost-cutting measures to improve its financial results in the coming quarters. That effort will include greater emphasis on product newness and opportunities to slash ...
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ArticleUnder Armour makes proprietary fiber-shed test method publicly available
After years of research in its innovation lab, Under Armour (UA) announced a breakthrough fiber-shed testing method earlier this year to combat the invisible but formidable sustainability threat of microfibers and microplastics to society and the planet. Now, the brand has teamed up with James Heal, a leading provider of ...
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ArticleIrving invests in sneaker marketplace Kicks Crew
Kicks Crew, a global sneaker and apparel e-commerce platform founded in 2013 and based in Los Angeles, California, has secured international basketball athlete, artist and actor Kyrie Irving as an investor. The athlete, sponsored by Chinese sporting goods brand Anta and also serving as the brand’s Chief ...
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ArticleFoot Locker takes measures to reach two types of holiday shoppers
Saddled with a 10.5 percent year-over-year increase in inventory but also gaining some traction with customers seeking innovation and latest trend products, Foot Locker has taken strategic steps to reach both deal-seeking customers and others who want premium, on-trend items from key brands such as Nike, Puma, New Balance and ...
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ArticleLatest StockX report gives an insight into what sneakerheads want
Sneaker resale platform StockX has unveiled its latest annual Big Facts: 2023 Trends report, giving an insight into what’s popular in the sneaker market this year. Retro Adidas styles and character-inspired Crocs are among the best-performing trends.
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ArticleNike Inc. makes executive changes to help "reimagine sport for the next generation of athletes"
Nike Inc. announced on Nov. 14 leadership changes that “will continue to build on its strong momentum and deep commitment to serving athletes with product innovation, design excellence, and powerful storytelling while imagining the future of sport and serving consumers at speed and scale.” Reorganization of innovation and design teams ...
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ArticleVF Corp publishes Environmental and Social Responsibility Report 2023
Source: VF Corp Under the title “Purpose. Driven.” VF Corp has published its Environmental and Social Responsibility Report for the 2023 financial year. The comprehensive report emphasizes the key areas that VF focuses on: People, Planet and Product. Topics covered in the report include gender parity, racial ...
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ArticleLower costs, inventory benefit Grupo SBF in Q3
Grupo SBF, which operates Brazil’s top sporting goods chain in Centauro, received a lift from lower expenses, growth within its digital channel, and lower inventory levels in Q3 ended Sep. 30. The group reported a 216 percent increase in year-over-year operating income to 168.6 million Brazilian reais (€32.1m) as net ...
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ArticleBelow-average order fill rates continue to impact Yue Yuen
Profit attributable to Yue Yuen shareholders fell by 49 percent to $137.7 million from $270.1 million for the nine months ended Sept. 30, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by 38 percent ...
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ArticleUnder Armour drops FY sales outlook on continued US woes
Under Armour is now forecasting annual revenues to decline by 2 to 4 percent, down from prior guidance of “flat to up slightly,” but gross margin to improve by 100 to 125 basis points instead of a 25- to 75-basis-point increase. The group’s outlook on FY operating income remains in ...
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ArticleAdidas inventory cuts improve; sees strong demand for Samba, Gazelle
Adidas posted third-quarter figures in line with preliminary estimates released in October and added that its inventory-reduction plan had gone a little better than expected in the latest three-month period, also noting that retailers were “visibly” interested in its autumn/winter 2024 range, especially around its Samba, Gazelle and Spezial ranges. ...
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Article2023 Polartec Apex Award winners announced
Polartec has announced the winners of the Polartec Apex Awards 2023. The annual design award recognizes brands and designers that embody Polartec’s Made To Go Beyond ethos. The winning garments – selected from hundreds of entries that improve the lives of those who wear them – embody ...
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ArticleNike and Dove launch the “Body Confident Sport” online coaching program
Source: Nike x Dove Nike has teamed up with beauty brand Dove to launch “Body Confident Sport,” a set of tools for coaching 11- to 17-year-old girls to help them build their body confidence through sports. Body Confident Sport was co-developed by Nike and Dove over ...
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ArticleVF Corp. investor pushes for turnaround plan
In a presentation, California-based activist investor Engaged Capital outlined that the parent company of Vans, The North Face (TNF), Timberland, Supreme and others is suffering from bloated overhead that is driving down shareholder value and called for a more detailed turnaround plan for VF Corp. It said that the overhead ...
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ArticleGarment-to-garment recycling: How far along is the sports and outdoor industry?
We look at what textile recycling is not and share some brands that are moving the outdoor and sporting goods industries in the right direction.
