Anta unveils 5-year strategic targets and a 24-month acceleration plan
While providing another update on its results for the second quarter, Anta Sports Products announced new strategic targets that it wants to achieve over the next five years and a 24-month acceleration plan, called “Lead to Win,” for its core Anta brand. It had nothing to say at this stage ...
Covid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of sports shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express, which cited the shutdown of 29 ...
Nike loses a legal round in Dutch tax probe
The General Court of the European Union in Luxembourg has dismissed an appeal by the Nike group against the investigation launched by the European Commission in January 2019 into the favorable tax treatment granted to the group by Dutch tax authorities to the European entities of Nike and Converse, and ...
Adidas partners with Common Goal to help undeserved communities
Adidas has announced a long-term partnership with Common Goal to promote lasting social change among under-served communities and create a better and more inclusive future through football. Common Goal’s members pledge 1 percent of their earnings to a central fund, allocated to high-impact organizations that harness the power of football ...
TNF, Timberland and Vans get high marks for transparency
Three VF Corp brands – The North Face (TNF), Timberland and Vans - ranked high in the 2021 Fashion Transparency Index published by Fashion Revolution, a global activism movement that is pushing for greater disclosure in fashion supply chains, warning that progress in transparency in the sector generally remains ...
Sporting goods stocks jumped by 26.65% in Q2
The average share price of the sporting goods sector grew by 26.65 percent between March 31 and June 30, accelerating from the 10.9 percent growth recorded in the first three months of this year. As usual, the public companies in this sector scored much better than all the major stock ...
Adidas shortlists five candidates for Reebok’s takeover
Adidas has drawn up a shortlist of five candidates for the acquisition of Reebok, according to Reuters, asking them to submit their bids by August. The only strategic investor on the list is Wolverine Worlwide, owner of Merrell and some 15 other shoe brands. It has reportedly proposed to take ...
Nike beats expectations as EMEA, North America sales surge and China resists
The Nike group posted better-than-expected results for the fourth quarter ended on May 31, 2021, as sales nearly doubled as compared to a year earlier, when its performance was severely impacted by store closures tied to the Covid-19 pandemic.
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 ...
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 ...
Adidas 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 ...
VF 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.
VF 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 ...
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 ...
Fourth 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 ...
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 ...
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 ...
Under 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.
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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