More corporate news – Page 30
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News briefsPlanet Fitness expands into New Zealand
Planet Fitness, an American franchisor and fitness center operator based in Hampton, New Hampshire, signed a territory development agreement with Castle Point Fitness NZ Ltd. to expand the brand into New Zealand. Castle Point is a joint venture between the founder of The Fresnel Companies, a U.S. investment firm with ...
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News briefs
Endur Apparel rebrands to Outway
Performance sock brand Endur Apparel has announced that it will now be operating under its new brand name Outway. This new brand positioning will be fueled by a $3.2 million investment led by Andrew Wilkinson of Tiny. Other investors include Shane Parrish, Jason Warner, Jonathan Becker, Rasool Rayani, Ben Moore, ...
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ArticleThule Group enters new categories, updates financial targets
At its capital markets day, the Swedish Thule Group has presented plans to enter the two new product categories in 2023: car seats – to be launched in Europe first, expanding worldwide in a second step – and dog transport products, starting with a dog cage. The company was also ...
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ArticlePuma CEO Bjørn Gulden: “Not having fun is a waste of time”
Puma’s CEO Bjørn Gulden and Giorgio Chiellini, captain of the Italian national soccer team at Euro2020, talked about their careers, outstanding leadership and the importance of having fun in a video interview released as part of the sports company’s annual report. In his professional career spanning more than two decades, ...
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ArticleJD Sports lifts annual guidance despite footwear shortages
Britain’s JD Sports Fashion raised its annual profit outlook, despite a global shortage of key footwear styles and indicated upbeat sales so far this year. The company said it now expected profit before tax and exceptional items for the year to January 29 to be about £940 million (€1.1bn) and ...
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ArticleWolverine Worldwide hires Boston Consulting, re-iterates outlook
Wolverine Worldwide is maintaining its full-year outlook that calls for total FY22 revenues of $2.775 to $2.85 billion. This represents a 15 to 18 percent year-over-year increase with the DTC segment representing approximately 30 percent of global revenues and the international segment another 35 percent. Wolverine’s top three brands, Saucony, ...
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News briefsWSJ Report: Peloton pursuing minority investor
Some two months after announcing massive business changes and days before reporting its first-quarter results on May 10, Peloton Interactive is reportedly looking for a suitor to a minority stake of 15 percent in the fitness company that is now headed by former Netflix and Spotify executive Barry McCarthy. The ...
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News briefs
Pou Sheng issues Q1 profit warning
Pou Sheng International, the distribution and retail subsidiary of Yue Yuen, will have a significant drop in profits and sales in the first quarter due to the re-emergence of Covid-19 in key Chinese markets, including Shanghai. Citing the pandemic’s impact on consumer demand and sentiment accelerated by lockdown measures taken ...
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News briefsDescente Ltd. transfers overseas sales to Japanese subsidiary
Descente Ltd., the Japanese company that holds territorial licenses or trademark rights for several western brands besides its own, has opted to shift all of its international product sales to its consolidated subsidiary, Descente Japan Ltd. For the year ended March 31, 2021, the transferred business that was created ...
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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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News briefs
Footway receives new capital
The Swedish Footway Group has received new equity capital, according to ehandel.se. The company secured about SEK 127 million (€12.2m) gross, about 85 percent of the SEK 150 million the company had initially hoped to raise. Just over SEK 100 million (€9.6m) came from real estate investor Rutger Arnhhult, who ...
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ArticleBrooks stronger than ever as running industry grows
After ending 2021 with global sales of more than $1.11 billion, Brooks Running expects double-digit year-over-year growth in 2022. Despite ongoing disruptions in the global supply chain impacting the running industry, Brooks claims it will continue to deliver for runners and outperform the competition. In Q1 2022, Brooks took first ...
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News briefsNew Swedish women’s padel apparel brand launched
Source: Peachy The motto of the new padel apparel brand Peachy is “from court to cocktail, smashing both in style and in serve” and is designed to encourage women to find a good balance between performance and play. The founders of the new Swedish brand include artist ...
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News briefs
Intersport France expands logistics capacity to address cycling boom
After eight months of work, Intersport has opened a new warehouse at its facilities in Machecoul-Saint-Même, in France’s Loire Atlantique department. The new 18,000-square-meter building brings the total warehouse surface in Machecoul to 30,000 sqm. Intersport is the owner of Manufacture Française du Cycle, its own bike factory in Machecoul, ...
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News briefs
Li Ning updates first-quarter sales
At Li Ning, first-quarter same-store sales rose in the “low 20s” for the period ended March 31. By segment, sales in the retail channel were up in the “mid-20s,” up in the “low teens” for the wholesale (franchised distributors) segment; and e-commerce revenues improved “mid-30s” year-on-year. The company ended the ...
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News briefsSerena Williams’ venture fund invests seven-figure sum in U.K. sports tech platform
OpenSponsorship, a sports marketing startup founded in New York in 2015 by British entrepreneur Ishveen Jolly, has secured a seven-figure investment from Serena Ventures to support the company’s expansion into the UK. Ishveen, who was then a sports agent, started OpenSponsorship as an alternative way for athletes to access brands ...
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ArticleBlackwells wants Peloton to transform or sell
Peloton is again under pressure from activist investor Blackwells Capital LLC, which owns nearly 5 percent of the company and in January urged Peloton Interactive co-founder and CEO John Foley to resign. Blackwells released a presentation on April 12 stating that “two months since Peloton hired one of the highest-paid ...
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News briefsGymshark plans global restructuring in preparation for expansion
According to various media reports, Gymshark is restructuring its business, a move that most probably will lead to the loss of jobs globally. The brand is reportedly undergoing the restructuring process to improve cross-functional working, guarantee localized accountability, remove duplication and ensure efficiency in teams, processes and systems. As a ...
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ArticleWintersteiger returns to profit, plans spin-off of its divisions into independent entities
Wintersteiger, the Austrian supplier of ski rental and ski service systems, reports a return to growth and profit in 2021. After a pre-tax loss (Ebt) in 2020 of just under €10 million and a 26 percent drop in sales, the group was back on track for growth in 2021, reporting ...
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News briefsBode Miller enters DTC ski business with Peak Ski
The newly founded Peak Ski Company LLC, based in Bozeman, Montana, has just launched its first six ski models offered direct-to-consumer through its website for the winter season 2022/23. Owners of the start-up are former World Cup pro skier Bode Miller and co-founder Andy Wirth, a ski industry veteran who ...
