VF Corp going strong despite slowdown in Q4 sales due to China lockdowns
VF Corp reported a revenue increase of 9 percent to $2.8 billion (€2.65bn) in the fourth quarter of 2022, driven by The North Face (TNF), although sales at Vans were flat during the period. Sales were boosted by a 15 percent increase in the EMEA region and 12 percent in ...
Patrik Frisk: The last interview before stepping down as Under Armour CEO
A few weeks before the announcement that he would step down as Under Armour CEO, Patrick Frisk revealed what he learned in his different leadership positions.
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Frisk to step down from all positions at Under Armour
Nearing the completion of a multi-year, $525 to $550 million restructuring, and 10 days after disclosing that short-term challenges will impact its sales, profitability, and margins for much of 2022, Under Armour late on May 18 appointed Colin Browne as its interim president and CEO, effective June 1. On that ...
Nike celebrates 50 years with “Seen It All” starring Spike Lee
Nike is celebrating its 50th birthday this year. Filmmaker Spike Lee directed the anniversary film “Seen It All.” The flick stars 40 former and current Nike athletes.
Intersport Germany and Adidas agree on new single account delivery concept
Intersport Germany has entered a new stage of its cooperation with Adidas. Both companies signed for a single account model, similar to the agreement that Intersport has had with Nike since 2018.
Grupo SBF generates 88 percent sales increase in Nike business
Grupo SBF, the parent of Brazil’s top retail sporting goods chain in Centauro and a distributor of Nike in the South American market since December, reported a 401 percent increase in first-quarter adjusted Ebitda to 185,390,000 Brazilian reais (€31.5m) for the period ended March 31. Operating income came in at ...
Under Armour tempers 2023 growth on near-term challenges
Under Armour, despite all its efforts to reshape and fortify its premium-focused business since a 2020 restructuring under president and CEO Patrik Frisk, is facing short-term issues that will impact its sales, profitability, and margins for much of 2022. The company started a new fiscal year, FY23, on April 1 ...
Adidas steps into the void left by Nike at Foot Locker
Adidas and New York-based retailer Foot Locker have announced a new and enhanced partnership “built around product innovation, elevated experiences and deeper consumer connectivity,” as the German company states in a press release.
Adidas reins in FY expectations as Q1 sales dip, China struggles
Adidas cut its expectations for gross and operating margins for the full year and projected that sales and net profit would come in at the lower end of guidance after sales dipped in the first quarter and as it continues to struggle in China, where new Covid-19 lockdowns have worsened ...
Vulcabras bolstered by sports brands, e-commerce
Vulcabras’ net income soared by 270 percent to 54.0 million Brazilian reais (€9.2m) in the first quarter of 2022. Operating earnings (Ebit) jumped by 203 percent to R$64.4 million (€10.9m) in the period ended March 31, as the gross margin increased by 1.2 percent to 35.2 percent versus 34.0 percent ...
Obituary: Peter Moore
Peter Moore, who shaped Nike’s and Adidas’ product design in the 1980s and 1990s, passed away on April 29 at the age of 78.
GMG and SUTL close deal for Nike stores in Singapore and Malaysia
GMG, a global company distributing and manufacturing a portfolio of leading international and domestic brands in the sports, food and health sectors, headquartered in Dubai, has acquired Nike-only stores from SUTL Corporation, a Singapore-based consumer and lifestyle products distribution company representing global brands in Asia. Under the agreement, all Nike-only ...
NPD Q1 report sees U.S. footwear industry slowing down and market shifting towards new brands
Consulting firm NPD has released its latest figures for the first quarter of 2022 of the U.S. footwear market. Both the footwear industry’s sales and the revenue declined year-over-year in Q1. Sales were down 3 percent, unit sales were down 12 percent, while average prices were up 11 percent. Compared ...
Columbia Sportswear posts double-digit sales gains in EMEA, U.S., led by footwear
Columbia Sportswear’s first-quarter net income rose by 20 percent to $66.8 million as total sales increased by 22 percent to $761.5 million against $625.6 million for the period ended March 31. Operating income was down slightly at 11.0 percent versus 11.3 percent, while gross margin was off 170 basis points ...
The 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 ...
Nike to launch glue-less shoes that can be taken apart in minutes
The Nike ISPA team (Improvise; Scavenge; Protect; Adapt), which experiments with new, unorthodox products and manufacturing methods, will introduce a new shoe model this spring that showcases the brand’s innovative capabilities and offer a glimpse into the future of circular design: The Nike ISPA Link. And in 2023, the next ...
Ortholite hires chief brand officer
U.S. insole specialist OrthoLite has hired Kristin Kohler Burrows as its new chief brand officer, a newly created position. Burrows joins the OrthoLite and Cirql teams with experience at footwear brands including Converse, Keds, Adidas, Fila and G.H. Bass, and was most recently a management consultant in the consumer and ...
Celebrating The International Day of Sport for Development and Peace
April 6 is The International Day of Sport for Development and Peace. This year’s theme is “Securing a Sustainable and Peaceful Future for All: The Contribution of Sport.” The UN sees this as “an opportunity for the Day’s celebrations to promote the use of sport as a tool to advance ...
Nike remains the world’s most valuable apparel brand
Nike tops the Brand Finance Apparel 50 ranking for the eighth time, making it the most valuable brand since the creation of the list.
StockX claims Nike lawsuit mischaracterizes Vault NFTs
On March 31, StockX published a revision of its previous statement, from Feb. 8, on Nike’s lawsuit – filed on Feb. 3 – over the collectibles-trading company’s so-called Vault NFTs. Both statements are available online.
