Latest News – Page 12
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ArticleNew digs for a Spanish court manufacturer
AFP Courts is hastening to complete a project that – to the exclusion of raw-materials procurement – will focus its entire operation at a single site, according to CMDsport. Situated in Barcelona, the facility encompasses 10,500 square meters, with 3,500 going towards the factory and the remaining 7,000 towards a ...
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ArticleFoot Locker committed to Lace Up strategy despite current challenges
Faced with persistent store traffic and conversion challenges, a promotional landscape, and an 11 percent year-over-year increase in inventories, Foot Locker has lowered its financial outlook for the remainder of the FY and paused its dividend for shareholders as it works to get better positioned for the upcoming holiday season ...
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ArticleAnta Sports gets H1 sales lift from all segments, brands
Anta Sports Products Ltd. achieved a 32 percent increase in H1 operating profit to 7,623 million yuan renminbi (€1.02bn) for the six months ended June 30. Gross margin improved by 130 basis points to 63.3 percent from 62.0 percent, while profit attributable to shareholders increased by 40 percent to RMB ...
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ArticleCosmetics company Coty renews long-term licensing partnership with Adidas
Coty Inc. announced that it has renewed its long-term licensing agreement with Adidas. Founded in Paris in 1904 and now headquartered in the Big Apple and traded on the New York Stock Exchange, Coty is one of the world’s largest cosmetics companies with a portfolio of iconic brands in fragrance, ...
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ArticleFirst figures out as Under Armour commences its transition year
Under Armour, which sees its next FY as the start of growth phase for the company, commenced FY24 by exceeding Wall Street’s revenue and EPS guidance estimates. The international segment, including the EMEA, and DTC channels paced the results. Under Armour “very focused on profitability” Operating income slipped by ...
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ArticleNike to open network of boutique fitness studios in the U.S.
Nike is beginning to open a network of boutique gyms in the U.S. under the Nike Studios banner in partnership with FitLab, a fitness and sports lifestyle company that offers digital and gym experiences. The studios will be open to anyone over the age of 18. The move comes after ...
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ArticleAdidas’ bumpy year showing some signs of smoothing out
While still facing hurdles in its recovery and path to profitability in 2025, Adidas began to show some positive developments in Q2 that included improved sell-throughs for some products and a €400 million boost from the sale of surplus Yeezy shoes that will reduce the group’s expected FY23 loss. ...
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ArticleVulcabras Q2 results bolstered by locally made athletic footwear
The Brazilian Vulcabras group, which produced double-digit Q2 gains in revenues, gross margin and net profit, was aided by a 14.2 percent increase in market-produced footwear to 608.2 million Brazilian reais (€112.8m). Overall, Ebit expanded by 40 percent to R$148.1 million (€27.5m) as year-over-year gross margin increased by 540 basis ...
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ArticleColumbia dims FY outlook as Q2 net dips 17%
Bloated inventories and challenging market conditions in the USA are forcing Columbia Sportswear to take a “more conservative” stance on its H2 and full-year results despite explosive year-over-year Q2 sales growth in China and in its lower-margin international distributor businesses. Saddled with a 21 percent year-over-year increase in Q2 ...
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ArticleVF Corp. slashes FY revenue guidance, reports wider Q1 loss
VF Corp., the parent of The North Face (TNF) and Vans, welcomed its new President and CEO Bracken Darrell, 12 days on the job, to his first results call by reporting a Q1 loss of $57.4 million against a loss of $55.96 million in the year-ago period on an 8 ...
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ArticleAdidas extends contract with Manchester United, guarantees €1bn over 10 years
Source: Adidas The new 2023/24 away kit sees a return to the iconic vertical stripes that adorned the club’s first ever away shirts With Adidas extending its kit sponsorship deal with Manchester United by ten years, the contract runs until 2035 and guarantees the football team at ...
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ArticleKangaroo Protection Act introduced in U.S. Congress
The bipartisan bill introduced in the U.S. House of Representatives would ban the sale of kangaroo body parts in the U.S., including on footwear and apparel. Months ago, Puma and Nike announced they would halt further sourcing of kangaroo skins for their respective soccer boots. The Center for a Humane ...
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ArticleAdidas releases more existing Yeezy products in August, commits to combating discrimination and hate
Adidas announced on July 28 a further release of Yeezy inventory, with a range of existing products being available in phases throughout the month of August across the world. As previously communicated, the German company will donate a significant amount to selected organizations working to combat discrimination and hate, including ...
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ArticleAdidas reportedly receives €508 million in Yeezy orders
Adidas is said to have received €508 million in orders for 4 million pairs of shoes from the now defunct Yeezy partnership, according to the Financial Times. This, sources report, exceeded the company’s most optimistic forecast, although total net sales were lower than the value of the stock. In its ...
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ArticleAdidas welcomes Messi to Miami, expands youth football initiatives
On July 19, Adidas welcomed Lionel Messi to Miami, celebrating the Argentine star’s arrival in North America ahead of his first game for Inter Miami CF on July 21. A number of Adidas-branded vehicles, including a cargo ship, boats and helicopters, passed through the Port of Miami and were dressed ...
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ArticleNike presents “What The Football” campaign to kick off FIFA Women’s
Ahead of the FIFA Women’s World Cup™ (July 20-August 20, 2023), Nike has unveiled the “What The Football” campaign, championing female soccer players from around the world who are changing the game and inspiring the world through the power of sport. The campaign, which features 11 top ...
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ArticleFormer Nike distributor in Russia launches multibrand retail chain
Russian retail company Inventive Retail Group plans to launch a new network, Amazing Red, to sell sporting goods of multiple Western brands. Tikhon Smykov, president of Inventive Retail Group, told the local press that the company intends to launch 100 outlets under a new banner in the ...
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ArticleAdidas partners with scientific project: Biopolymers from algae for textiles
The textiles of the future are “bio-based”. This is the conviction behind the BIOTEXFUTURE Innovation Space – a concept funded by the German Federal Ministry of Education and Research as part of the transformation to a bio-based economy. A central role in this innovation space is played by the German ...
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ArticleAhead of FIFA Women’s, Adidas celebrates the game’s next-gen icons
To kick off its campaign for the FIFA Women’s World Cup™ (July 20-Aug. 20, 2023), Adidas is celebrating the next-gen stars of women’s soccer, Alessia Russo, Lena Oberdorf and Mary Fowler. Adidas’ “Play Until They Can’t Look Away” films showcase the skill and passion of some of the world’s best ...
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ArticleCanadian regulators accuse Nike of profiting from Uyghur forced labor
CBC (Radio Canada) reports that the Canadian Ombudsperson for Responsible Enterprise (CORE), Canada’s corporate misconduct watchdog, has gathered enough information to launch an investigation into allegations that Nike Canada Corp. (as well as a Canadian gold mining company called Dynasty Gold Corp.) is profiting from forced Uyghur labor in China. ...
