More corporate news – Page 26
-
News briefsGoPro's subscription service surpasses two million subscribers
GoPro, which celebrates its 20th anniversary in 2022, announced that its highly profitable GoPro subscription service has surpassed the two million subscriber mark. The GoPro subscription offers customers unlimited cloud storage, the ability to automatically upload footage directly from GoPro cameras to the cloud, premium editing tools in the Quik ...
-
Article“This is bullshit”: Burton objects to article hinting at sale of company
Bloomberg News published an article speculating about a possible sale of Burton, without disclosing any details on the source or the potential buyer’s identities. According to Bloomberg, “the Burlington, Vermont-based company is working with an adviser on the potential sale, the people said, asking not to be identified discussing confidential ...
-
ArticleWomen’s football in Europe to grow sixfold in commercial value by 2033
UEFA has launched a new report highlighting the potential for growth in the European women’s club and league game over the next decade. According to the report titled The Business Case for Women’s Football, women’s football could see a six-fold increase in its commercial value over the next decade, reaching ...
-
News briefsHanesbrands’ ransomware attack cost $100 million in sales
Hanesbrands’ ability to order materials, make and ship orders, and process payments was negatively impacted during its second quarter due to a ransomware attack on the company’s information technology systems that was identified on May 24. The company was unable to fill customer orders for about three weeks. The Champion ...
-
News briefsMore job cuts coming to Peloton Interactive
Peloton Interactive, slated to report fourth-quarter results on Aug. 25, will reportedly slash its customer support team based in Plano, Texas and Tempe, Arizona in half, eliminating nearly 800 positions, and outsource its “final-mile delivery” to third-party providers. The action, as first reported late last week by Bloomberg and the ...
-
News briefsFrasers Group sells ‘some’ retail parks for £205m
Frasers Group said it has completed the sale of some retail parks for £205 million (€242m). The company, which owns the Sports Direct and House of Fraser chains, said the disposal included a number of freehold and long leasehold retail parks held by its wholly-owned subsidiaries to RI UK 1 ...
-
News briefsJD Sports’ new chairman buys £400,000 in shares
Andrew Higginson, JD Sports’ new chairman, has reportedly purchased nearly £400,000 (€471,700) worth of shares in the retailer. Higginson joined JD Sports in late July following the departure of Peter Cowgill, who had served as the retailer’s CEO and executive chair since 2004.
-
ArticleArchroma takes over Textile Effects business from Huntsman
The Swiss chemical solutions company Archroma (part of the U.S.-based investment firm SK Capital Partners) has entered into a definitive agreement to acquire the Textile Effects business from Huntsman Corporation. Huntsman Textile Effects was in the OIC news lately for its new PFC-free water repellent. The total enterprise value of ...
-
News briefs
Correction
In our article “Japanese e-commerce company to acquire majority stake in Phenix owner” (July 27), we incorrectly stated that Shiffon Co., Ltd. is the “owner of Phenix” while Shiffon Co., Ltd. is merely the Phenix licensee for its worldwide sales territories except for China. We apologize for this mistake and ...
-
News briefsBen Hogan Golf Equipment Company closes down
Ben Hogan Golf Equipment Company ceased trading on July 22, citing supply and financial constraints caused by the Covid-19 pandemic as reasons for the decision. ExWorksCapital had been the majority shareholder for the Texas-based company since its relaunch in 2017 after it originally ceased trading in 2015. ExWorks Financial filed ...
-
News briefsAcon Investments Fund invests another $700 million in New Era Cap
Acon Investments, a Washington, D.C.-based private equity firm, today announced the closing of Acon Strategic Partners II, a new single-asset continuation fund of approximately $700 million in connection with the partial sale of the Acon Equity Partners IV portfolio investment to and the increase of the existing investment in New ...
-
ArticleZalando publishes Q2 figures and reveals adjustment plans to improve order economics
With the release of its second quarter 2022 figures, Zalando has expressed confidence in returning to profitability in the second half of 2022 with a set of measures to address the volatile market environment. In the second quarter of 2022, the number of active Zalando customers grew to over 49 ...
-
News briefsAllbirds lays off 3% of its employees
Allbirds, the San Francisco-based DTC footwear brand that went public in 2021, confirmed that it is laying off 23 employees. The layoffs were first posted on startup layoff portal Layoffs.fyi and then reported by SFGATE.com. “We have thoughtfully evaluated roles and processes in each department, and each market, to ensure ...
-
News briefsXponential Fitness signs master franchise agreement with CycleBar for Japan
Xponential Fitness, a global franchisor of boutique fitness brands based in California, has signed a master franchise agreement in Japan for the indoor cycling brand CycleBar. The deal, signed with Xponential’s master franchisee for Club Pilates in Japan, allows the new master franchisee to license at least 30 CycleBar studios ...
-
News briefsSportsArt announces worldwide fitness partnership with Accor Group
Source: SportsArt Ruben Mejia, executive vice president, SportsArt Americas SportsArt, a U.S. provider of fitness solutions, has been chosen by Astore – the French multinational hospitality company Accor Group’s procurement organization – as a global preferred vendor outfitting their fitness centers with SportsArt’s patented ECO-POWR cardio equipment. ...
-
News briefsPou Sheng warns on significant H1 decline
Pou Sheng Intl., the retail subsidiary of Yue Yuen, issued a revenue and profit warning for the first half ended June 30, citing persistent Covid-related restrictions in China that impacted consumer traffic and sentiment during the six months. The group forecasts a 25 percent decline in H1 revenues to 9,865 ...
-
News briefsLoans to help Pádel Nuestro expand in Sweden
Pádel Nuestro has secured two loans whose total of €2.84 million will go towards acquiring real estate, inventory and other costs associated with opening own stores in Sweden’s big cities. The group has six Swedish stores already, all of them franchises. The lender is COFIDES, public-private company combining Spanish state ...
-
ArticleAdidas cuts FY 2022 guidance on China weakness and potential slowdown in other markets
Adidas has adjusted its top line 2022 guidance due to a worsening outlook for its Greater China business. While second-quarter 2022 results slightly exceeded expectations, given continued strong momentum in Western markets and a return to growth in Asia-Pacific, the company has reported a slower-than-expected recovery in China since the ...
-
News briefsPeloton announces corporate wellness program
Peloton announced the expansion of its Peloton Corporate Wellness program, unveiled in June 2021, through which Peloton content or connected fitness products can be offered to companies and organizations in the U.S., U.K., Canada and Germany, with Australia joining later this year. The offering makes all Peloton experiences available to ...
-
ArticleAlibaba seeks initial listing on Hong Kong Stock Exchange, maintains listing on NYSE
Alibaba’s board has authorized the management to apply for an initial listing on the Main Board of the HKSE while also remaining listed in New York.
