More Headlines – Page 58
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ArticleAllbirds reduces Q1 loss, confirms FY guidance
With the group’s transformation strategy in progress, Allbirds dropped its Q1 operating loss by 16 percent to $29.8 million from $35.7 million despite a 28 percent decline in sales to $39.3 million from $54.4 million. Lower overall demand and impact from retail store closures and international distributor changes contributed to ...
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ArticlePuma sees improving trends ahead, maintains FY24 outlook
Puma, now that its most “challenging” quarter of the year is over, is forecasting sequentially improving trends for the remainder of 2024. Stronger sales growth is projected in H2 as the commercialization of developing product trends and impact of the company’s accelerated brand elevation strategy take hold. “We are ...
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ArticleWolverine Worldwide appoints new Chief Financial Officer
Wolverine Worldwide, the Michigan-based footwear company, has named Taryn Miller as its new Chief Financial Officer (CFO). Miller will report directly to Chris Hufnagel, the company’s president and CEO, and will commence her role on Thursday. Miller brings a wealth of financial expertise to Wolverine Worldwide, having previously served as ...
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ArticleOrbea dips below €400 million in sales
Orbea closed out full-year 2023 with its first drop in revenues in eight years, acccording to Palco23. Although the Basque cycling brand does not disclose them in full, sales appear to have come in at around €382.4 million, down by 6.4 percent from the previous year’s €400 million or so. ...
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ArticleAcushnet maintains H1 outlook despite slow Q1 start in some regions
The Titleist and FootJoy parent is maintaining its H1 outlook calling for a low-single-digit sales increase and year-over-year flat Ebitda despite a Q1 that was affected by a slow start to the golf season in some regions of the world. Operating income fell by 2.8 percent to $121.4 million from ...
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ArticleCanada’s Competition Bureau launches investigation into Lululemon’s environmental claims
Canada’s Competition Bureau has announced a formal investigation into Lululemon’s environmental assertions featured in its marketing campaigns, following allegations of misleading practices. Marianne Blondin, a spokesperson for the bureau, confirmed the probe to Canadian broadcaster CBC. Stand.earth, an advocacy group leading the charge, has accused Lululemon of engaging in greenwashing, ...
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ArticleFrasers Group revamps digital infrastructure to enhance retail operations
Frasers Group is embarking on a digital transformation aimed at boosting the efficiency of its retail operations and enhancing the online shopping experience across its sports, premium, and luxury brand websites and apps. Described as a “first of its kind” initiative, the retail powerhouse views this investment as pivotal to ...
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ArticleCriticism arises as sports brands fall short in designing boots for women
Global sports giants face scrutiny for allegedly neglecting the unique needs of female athletes in the design of football boots, with experts arguing that neither traditional nor ‘gender-neutral’ options adequately accommodate women’s physiology. Despite claims from major brands about supporting women’s sports and offering ‘inclusive’ products, an analysis by talkSPORT ...
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ArticleDecline in golf apparel sales signals market shift
According to Golf Datatech (GDT), the latest figures reveal a notable downturn in golf apparel sales, signaling a shift in the market landscape. In March 2024, sales at both on- and off-course specialty stores plunged by over 10 percent compared to the same period last year. The first quarter of ...
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ArticleNo more non-competes in the US
The US Federal Trade Commission (FTC) has deemed non-compete clauses to be unfair competition (in violation of Section 5 of the FTC Act) and issued a nationwide ban. Once the ban goes into effect – 120 days after its publication in the Federal Register – existing non-competes will no longer ...
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ArticleLIV Golf announces executive hires
LIV Golf has announced the appointments of David Phillipps as Chief Financial Officer, Ross Hallett as EVP, Head of Events, Katie O’Reilly as EVP, Head of Team Business Operations, and Pam Sacree as Head of Human Resources. Additionally, Tim Taylor has been appointed to a new EVP role and will ...
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ArticleNo company sells more clothes in Spain than Shein
Shein appears to have become the top online retailer for fashion in Spain, where it has surpassed Zara and H&M, as well as in Italy, Greece and Portugal, according to Diffusion Sport, which cites figures from the consultancy ECDB. Indeed, the e-commerce specialist – of Chinese origin but Singaporean headquarters ...
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ArticleNewcastle United introduces the SoundShirt to football
Newcastle United introduced two changes to some of its jerseys at its recent match against Tottenham Hotspur. First, the club’s front-of-shirt sponsor, Sela, a Saudi Arabian company specializing in the end-to-end development of intellectual property (IP) and in the production and management of events, donated its ad spot on the ...
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ArticleBrooks Running posts strong Q1 results
The Berkshire Hathaway subsidiary Brooks Running reported 9 percent revenue growth in Q1 ended March 31 to equal the highest quarterly results in the company’s history. Brooks’ results were achieved by significant gains in many segments of its business. Year-over-year global e-commerce sales increased by 22 percent, and the brand’s ...
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ArticleGildan has strategy to gain share in targeted markets
Canadian activewear company Gildan, already seeing signs of recovery in some markets outside of North America, intends to adopt a local approach with product, pricing and supply chain initiatives to regain and increase market share in targeted international markets. With inventory levels described as “a little light” in Europe, Gildan ...
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ArticlePeloton reports another loss, restructuring as CEO departs
Heading into the seasonally slowest and most challenging quarter of its fiscal year, Peloton Interactive’s two-year transformation continues down a bumpy path. The connected fitness company has initiated another restructuring effort resulting in annualized savings of more than $200 million and more job cuts – its third round in 26 ...
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ArticleGarmin gains on positive results from all segments
Garmin, in its seasonally lowest quarter of the FY, reported a 51 percent increase in Q1 operating income to $298.4 million from $197.0 million for the period ended March 30. Net income was up 36 percent year-over-year to nearly $276 million, and gross margin improved by 120 basis points to ...
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ArticleAdidas sees strong Q1 metrics, better-than-expected results
Buoyed by improved results in many aspects of its business, from inventory level to gross margin, Adidas reported better-than-expected Q1 results. It said it was encouraged by the market progress that it is making despite a volatile and “not easy” overall marketplace. Operating income was €336 million, up from ...
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ArticleNike has a new rendition of “air”
Nike has come up with a third iteration of the “air” idea, this time with an AI twist. (We note in passing an obvious thing: that “AI” is two-thirds of “air.”) As Nike describes the proceedings, with this latest iteration – A.I.R., an acronym for ”athlete imagined revolution” – the ...
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ArticleA look at racquet sports in the US
RacquetX and marketing agency LaneTerralever (LT) published a report titled Who’s on the Court: A Profile of Today’s Racquet Sports Player, available online, to lay out the results of a survey they conducted in February of this year. The sample was 506 people in the US who have played “at ...
