Latest News – Page 22
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Updated: Nike performs much better than estimated
A few hours before the release of Nike’s results at 10:15 PM CET yesterday, 24 out of 30 financial analysts were recommending that its shares should be purchased, according to the Wall Street Journal, giving an average price target of $163.34 against a current stock market price of around $134 ...
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Amer will contribute to double Anta’s H1 net profit
Amer Sports’ profitability is apparently improving faster than that of the rest of the Anta Sports Group. In a profit warning, Anta, which heads up the joint venture that took over the group two years ago, says it expects a decline in the losses of a joint venture, which we ...
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ArticleAdidas releases an update on its commitments to equality and inclusion
Adidas has provided a new update to its “Creating Lasting Change Now” commitments, which revolve around diversity, equity and inclusion within the company and across communities. Among the advances highlighted in the factsheet is the launch of a global “Creating a Culture of Inclusion” training program for employees, in which ...
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ArticleVF launches new incubator platform for innovative business models
VF Corp. has launched Venture Platforms, an “innovation pillar that will focus on identifying and investing in new, future-focused opportunities.” The new initiative will add a specific innovation-focused component to the existing brand portfolio strategy by identifying and investing in new, forward-looking companies and business models. “We’re interested in ideas ...
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ArticleVF pledges to eliminate child labor
VF Corp. has created a new Child Rights Action Pledge to strengthen children’s rights and eliminate child labor throughout the global apparel supply chain by 2025. As part of its pledge, VF commits to integrate the Children’s Rights and Business Principles developed by UNICEF, the United Nations Global Compact and ...
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VF is positive about 2022 as growth accelerates
VF Corp ended its fiscal year on a high note, prolonging a recovery that started in the second quarter. For the fourth quarter ended March 31, the company confirmed that its momentum is accelerating, delivering revenues that increased by 23 percent to $2,582 million, or by 19 percent in constant ...
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ArticleFourth Adidas x Parley Run for the Oceans to help end plastic waste
From May 28 to June 8, the Adidas x Parley #RunForTheOceans will take place for the fourth time, continuing its commitment to combat plastic pollution of the oceans. Runners around the world are encouraged to join the challenge on the Adidas Running App and run, walk or wheelchair to help ...
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Buying groups partner with Nike and Brooks on charity runs
To help support sports clubs in Germany that are under pressure as a result of the Covid-19 restrictions and following withdrawals, Nike and Intersport are joining ranks for the launch of the new Nike Pegasus 38 running shoe with a “Keep Clubs Running” charity campaign, in which donations of up ...
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Reebok is seen reaching Ebitda of €200m by 2025
The Adidas Group has asked prospective buyers for the Reebok business to submit a first round of bids next week, according to Reuters, based on a projection that its sales will grow at an annual average rate of 10 percent in the next years, generating Ebitda of at least €200 ...
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ArticleUnder Armour raises FY guidance after a 35% sales hike in Q1
Under Armour raised its full-year guidance for sales and profits after reporting better-than-expected results in the first quarter, as its business continues to rebound from Covid-19 shutdowns and a restructuring plan launched last year is bearing fruits. The brand said it now anticipates that its revenues will rise in 2020 ...
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New Recycled Polyester Challenge aims to treble volumes
After the launch in 2017 of a “Sustainable Cotton Challenge,” Textile Exchange is now launching the “Recycled Polyester Challenge,” working in cooperation with the Fashion Industry Charter for Climate Action. The 85 brands and suppliers involved aim to increase the proportion of recycled polyester fibers used in their products from ...
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Nike remains the world’s most valuable apparel brand
Nike has been awarded the title of the world’s most valuable apparel brand for the seventh consecutive year, despite a 12.5 percent drop in brand value to $30.4 billion, according to the Brand Finance Apparel 50 2021 report. Although Nike’s sales took a hit last year due to the pandemic, ...
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Industry and governments react to Myanmar military coup
Pou Chen, the Taiwanese group that controls Yue Yuen, announced on March 30 that it has decided to shut down temporarily its production of athletic shoes for Adidas and Nike in Myanmar for safety reasons. The local management and essential staff will remain in place for maintenance purposes. A Taiwanese ...
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Statements on forced labor stoke short-lived ire in China
The boycott in China of Nike, Adidas and other Western brands over their stance against alleged human rights violations in the cotton-manufacturing province of Xinjiang is losing momentum, at least in the sports sector, according to an article in the South China Morning Post. Both Nike and Adidas have remained ...
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ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas brand names at its new factory in the Andijan region, starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third ...
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Further comments on Adidas’ focus on fewer categories
As we have already reported, Adidas wants to focus on fewer sports categories as part of its new “Own the Game” business plan through 2025. The outdoor sector is one of them, along with football, running and training.. Adidas’ CEO, Kaspar Rorsted, told the Financial Times a few days ago ...
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ArticleInsights on where sport shoes are made in 2021
We outline where Nike, Adidas, Puma, Asics, and Skechers shoes are made. As watchdogs urge sportswear companies to publish factory lists, we look at the global distribution of top brands’ suppliers.
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Myanmar violence raises concern in the industry
Many sports and fashion brands that have shifted part of their sourcing for apparel and footwear to Myanmar because of its lower labor costs are watching with awe the consequences of the recent military coup in the country. According to observers, it may be difficult for some of them to ...
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Nike releases new Impact Report and sets new targets for 2025
Nike has released the 11th edition of its Impact Report. The document addresses and assesses the company’s 2020 (financial year ended in May, 2020) targets, which were set in 2015, and sets new corporate targets for 2025. Nike has been releasing Impact Reports for two decades and shifted to an ...
