Latest News – Page 18
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ArticleNike net dips 5 percent on Greater China, persistent supply chain woes
The Nike group remains committed to further advancing its digital and direct strategies worldwide and anticipates a return to growth for its wholesale business in the financial year 2023 as it continues to grapple with elevated transit times for products and to recalibrate a Greater China business that has been ...
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ArticleU.S. ban on imports from Xinjiang goes into effect
The Uyghur Forced Labor Prevention Act (UFPLA), prohibiting the import into the U.S. of products made by forced labor in Xinjiang, China, is now in force, under the oversight of U.S. Customs and Border Protection (CBP). The act was signed into law by President Joseph Biden on Dec. 23, 2021, ...
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ArticleAdidas launches Pride collection, collabs with EA Sports FIFA
Last month, Adidas unveiled a collaboration with queer artist and designer Kris Andrew Small, known for creating bold works of art with a joyful explosion of colors and patterns. The resulting collection to mark Pride 2022 is inspired by the pop art and graphic design of the 1970s and 80s ...
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ArticleAnalysis: Sporting Goods Industry Scorecard Q1 2022
Find out about the top industry performers. With our first quarter 2022 Sporting Goods Industry Scorecard, we provide an overview by sales and profit.
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ArticleVF Corp going strong despite slowdown in Q4 sales due to China lockdowns
VF Corp reported a revenue increase of 9 percent to $2.8 billion (€2.65bn) in the fourth quarter of 2022, driven by The North Face (TNF), although sales at Vans were flat during the period. Sales were boosted by a 15 percent increase in the EMEA region and 12 percent in ...
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ArticleFrisk to step down from all positions at Under Armour
Nearing the completion of a multi-year, $525 to $550 million restructuring, and 10 days after disclosing that short-term challenges will impact its sales, profitability, and margins for much of 2022, Under Armour late on May 18 appointed Colin Browne as its interim president and CEO, effective June 1. On that ...
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ArticleNike celebrates 50 years with “Seen It All” starring Spike Lee
Nike is celebrating its 50th birthday this year. Filmmaker Spike Lee directed the anniversary film “Seen It All.” The flick stars 40 former and current Nike athletes.
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ArticleIntersport Germany and Adidas agree on new single account delivery concept
Intersport Germany has entered a new stage of its cooperation with Adidas. Both companies signed for a single account model, similar to the agreement that Intersport has had with Nike since 2018. Kicking off with the June 2022 order show in Heilbronn, Intersport retailers will have access to pre-set single ...
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ArticleGrupo SBF generates 88 percent sales increase in Nike business
Grupo SBF, the parent of Brazil’s top retail sporting goods chain in Centauro and a distributor of Nike in the South American market since December, reported a 401 percent increase in first-quarter adjusted Ebitda to 185,390,000 Brazilian reais (€31.5m) for the period ended March 31. Operating income came in at ...
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ArticleUnder Armour tempers 2023 growth on near-term challenges
Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022. The company started a new fiscal year, FY23, on April 1 ...
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ArticleAdidas steps into the void left by Nike at Foot Locker
Adidas and New York-based retailer Foot Locker have announced a new and enhanced partnership “built around product innovation, elevated experiences and deeper consumer connectivity,” as the German company states in a press release. The announcement comes on the back of Foot Locker’s sales figures released in March 2022, which reflected ...
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ArticleAdidas reins in FY expectations as Q1 sales dip, China struggles
Adidas cut its expectations for gross and operating margins for the full year and projected that sales and net profit would come in at the lower end of guidance after sales dipped in the first quarter and as it continues to struggle in China, where new Covid-19 lockdowns have worsened ...
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ArticleVulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
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ArticleObituary: Peter Moore
Peter Moore, who shaped Nike’s and Adidas’ product design in the 1980s and 1990s, passed away on April 29 at the age of 78. After working freelance as a design consultant for Nike since 1977, Moore joined Nike in 1983 as its first creative director, working with Bruce Kilgore to ...
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ArticleGMG and SUTL close deal for Nike stores in Singapore and Malaysia
GMG, a global company distributing and manufacturing a portfolio of leading international and domestic brands in the sports, food and health sectors, headquartered in Dubai, has acquired Nike-only stores from SUTL Corporation, a Singapore-based consumer and lifestyle products distribution company representing global brands in Asia. Under the agreement, all Nike-only ...
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ArticleNPD Q1 report sees U.S. footwear industry slowing down and market shifting towards new brands
Consulting firm NPD has released its latest figures for the first quarter of 2022 of the U.S. footwear market. Both the footwear industry’s sales and the revenue declined year-over-year in Q1. Sales were down 3 percent, unit sales were down 12 percent, while average prices were up 11 percent. Compared ...
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ArticleColumbia Sportswear posts double-digit sales gains in EMEA, U.S., led by footwear
Columbia Sportswear’s first-quarter net income rose by 20 percent to $66.8 million as total sales increased by 22 percent to $761.5 million against $625.6 million for the period ended March 31. Operating income was down slightly at 11.0 percent versus 11.3 percent, while gross margin was off 170 basis points ...
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ArticleThe size of 140 tennis courts: Nike’s new Serena Williams Building
The new Serena Williams Building (SW) is the largest office building at Nike’s Oregon headquarters, covering the equivalent of 140 tennis courts (approximately 93,000 square meters). It is also where Nike’s Consumer Creation teams, representing Design, Consumer Insights, Women’s, Men’s and Kids Constructs, and Apparel and Footwear Product Merchandising, have ...
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ArticleNike to launch glue-less shoes that can be taken apart in minutes
The Nike ISPA team (Improvise; Scavenge; Protect; Adapt), which experiments with new, unorthodox products and manufacturing methods, will introduce a new shoe model this spring that showcases the brand’s innovative capabilities and offer a glimpse into the future of circular design: The Nike ISPA Link. And in 2023, the next ...
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ArticleOrtholite hires chief brand officer
Source: Ortholite Kristin Kohler Burrows U.S. insole specialist OrthoLite has hired Kristin Kohler Burrows as its new chief brand officer, a newly created position. Burrows joins the OrthoLite and Cirql teams with experience at footwear brands including Converse, Keds, Adidas, Fila and G.H. Bass, and was most ...
