Latest News – Page 28
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Nike and Lululemon top a frugal teen market
Piper Jaffray, the American investment bank and institutional securities firm, has released the latest edition of its semi-annual “Taking Stock With Teens” survey, which follows trends in the spending and brand preferences of teenagers. This 38th edition, which surveyed 9,500 teenagers in 42 U.S. states, may be indicative of trends ...
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Nike athlete breaks marathon record, but…
On Oct. 12, Eliud Kipchoge, the distance runner sponsored by Nike, became the first man to run the marathon distance of 26.2 miles in less than two hours. His exact time was 1:59:40. Kipchoge was taking part in the Ineos 1:59 Challenge, an unofficial marathon in Vienna. The route was ...
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Nike beats forecasts
Nike announced higher-than-expected increases in profits and revenues for its first fiscal quarter ended on Aug. 31, despite currency headwinds and the trade tensions between China and the U.S. The company's share price jumped by 5 percent to an all-time high following the release of its results.Sales increased by 7 ...
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A doping scandal mars Nike’s image
Nike and its chief executive, Mike Parker, have become involved in a highly publicized case of athletic doping. The U.S. Anti-Doping Agency (USADA) has decreed four-year “sanctions” on Alberto Salazar, head coach of the Nike Oregon Project, and Jeffrey Brown, the project's endocrinologist. Salazar has been barred from participating in ...
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Fast-growing Anta reorganizes, focusing on quality
Exceeding expectations, Anta Sports Products reported a 40.3 percent increase in revenues to 14.81 billion renmimbi (€1.889bn-$2.072bn) for the first half ended on June 30. The attributable profit went up by 27.7 percent to RMB 2.48 billion (€316m-$347m), and it jumped by 53.5 percent to RMB 3.07 billion (€391m-$429m) excluding ...
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Anta’s revenues soar by 40%, boosted by Fila
Anta Sports Products kept the momentum going in the first half of 2019, with a sales increase of 40.3 percent to 14,810 million yuan renminbi (€1.9bn-$2.1bn), driven by a very strong performance from Fila, which Anta licenses in China.This led to a 27.7 percent jump in comprehensive net income attributable to ...
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Adidas maintains its guidance but warns about a global crisis
Commenting on the Adidas Group's latest results just after a much-criticized, temporary drop in the value of the yuan renmimbi, the company's chief executive, Kasper Rorsted, warned last Thursday that “everybody will lose” if the trade dispute between the U.S. and China escalates into a currency war, as it will ...
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Adidas and Sportmaster join forces on the Russian market
Confirming our previous report on the subject, Adidas and the biggest Russian sports retailer announced that they had signed a new partnership agreement in a joint statement on July 23. For many years, Adidas had refused to sell it products to Sportmaster, focusing instead on its own large network of ...
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Intersport works with Amazon and SportMarken24 in Germany
Intersport Germany continues to expand the range of omni-channel services for its retail members. Most recently, the German-based retail cooperative opened new channels for targeted sales on third-party platforms.In addition to its own online platform, intersport.de, which operates out of its headquarters in Heilbronn, the company is now offering to ...
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Under Armour is weighed down by North America
Under Armour had a difficult second quarter, ending with a loss that was below analysts' consensus, sending the share price down by 15 percent. Its net loss narrowed to $17.3 million, against $95.5 million for the second quarter of 2018.The group's revenues inched up by 1 percent to $1,191 million, ...
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Record Q2 results for Columbia
Columbia Sportswear's net income rocketed by 137 percent to $23.0 million in the seasonally small second quarter ended June 30. One of the drivers was an exceptionally strong counter-seasonal business with Columbia's line of performance fishing gear, PFG, which is approaching an annual turnover of $200 million.The group's quarterly revenues ...
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Innovation and digitalization fuel Nike’s 11% growth
Surpassing the management's expectations, Nike reported a broad-based sales increase of 11 percent on a currency-neutral basis for the financial year ended on May 31, driven by innovations, the group's “consumer direct offense” initiative and other aspects of its strategic transformation.In reported dollars, this meant an increase of 7 percent ...
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Nike and Adidas pull back products and ads
The use of social networks and artificial intelligence can be tricky at times. Adidas suffered an embarrassing problem on July 1 with a Twitter campaign launched to promote its new jersey for the English Arsenal football team. It was hijacked by several users who twisted their Twitter handles to send ...
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Silhouette launches its own sports eyewear line as Marcolin takes over its Adidas license
The Marcolin group announced a licensing agreement with the Adidas Group for the design, development, manufacturing and distribution of two lines of eyewear that will reach the market early next year. A spokesperson for the Italian company said that the agreement is global, but there is an apparent discrepancy about ...
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Adidas loses a court fight over its Three Stripes
The General Court of the European Union decided today to uphold a previous decision made by the European Intellectual Property Office (Euipo) that nullified a three-stripe trademark that Adidas had registered in 2014 for clothing, footwear and headgear. The news led to a drop of more than 2 percent in ...
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Amer invests in winter sports after a strong rise in sales
Amer Sports has decided to invest €30 million over the next 12 months in the modernization of its ski manufacturing facilities in Austria and the logistics in the segment. The program, which was part of the group's long-term strategy, has been approved by China's Anta Sports Products and its other ...
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Adidas and Nike back women’s football
Adidas has signed up as a founding partner of United for Girls, a new initiative from the U.S. Soccer Foundation aimed at increasing opportunities for girls and women from underserved communities to play football. Adidas' participation in United for Girls is part of the brand's “She Breaks Barriers” initiative to ...
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Nike releases Impact Report for FY2018
Nike has released its Impact Report for the fiscal year ended on May 31, 2018. The report focuses on the company's 2020 targets and priorities across its value chain and for its stakeholders. Last year, among its priority issues, the company identified “Diversity and Equal Opportunity” and “Climate Change Risks” ...
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Adidas’ margins climb further, European sales lag behind
The Adidas Group continued to emphasize profit margins in the first quarter of 2018. Its net earnings from continuing operations went up by 16.5 percent to €631 million, and earnings per share actually leaped by 19 percent as the company continued its share buy-back program. Sales increased by only 6.1 ...
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Adidas extends its contract with Real Madrid, paying dearly
Adidas and Real Madrid have agreed on a new contract that extends their partnership for eight more years, through June 2028. The parties have agreed not to disclose the value of the deal. According to various sources, it is worth between €100 million and €120 million a year, but Adidas ...
