Columbia eyes 3% to 6% sales growth in FY23, EMEA strong in FY22
After navigating supply-chain issues and product-delivery delays in 2022, Columbia Sportswear is intent on reducing its inventory level to be more in line with demand, and to generating 3 to 6 percent revenue growth this year in the range of $3.57 to $3.67 billion. The group is also eyeing an ...
Under Armour announces two new board members
Under Armour will be appointing Carolyn Everson and Patrick Whitesell to its board of directors on Feb. 1. In addition, the Baltimore-based sportswear firm has announced that longtime board member Harvey Sanders, who has served on the board since November 2004 and is currently chair of the Human Capital and ...
A Dive into the unknown. The metaverse, NFTs and legal perspectives
The technology may be new, but it’s never too early to start thinking about protecting your brand in the metaverse. Our expert weighs in.
Nike’s former partner in Russia opens new sporting goods chain
Inventive Retail Group (IRG) has opened the first five stores of its new Hiker outdoor and sporting goods retail chain in Russia. IRG is the country’s largest retail group, specializing in developing stores of leading Western companies in Russia, including Apple, Samsung, Lego and Nike.
Can fashion weeks replace trade shows?
Fashion Weeks are just around the corner. Could they replace trade shows as the most important dates in the industry? We take a closer look.
StockX broke records in 2022, reveals most traded and fastest growing brands
In a new report, Detroit-based resale platform StockX details the top-traded and fastest-growing brands on its platform over the last year. StockX’s annual report – Big Facts: Current Culture Index 2023 – notes that the company surpassed 1.5 million lifetime sellers, 12 million lifetime buyers and 40 million lifetime trades ...
Gorpcore: The trend that could be bigger than athleisure
Gorpcore: the trend you may have missed and the huge potential it holds for performance brands. We explain it and evaluate its potential.
Anta Sports shuffles roles and responsibilities, Ding Shizhong hands over CEO role
To facilitate the implementation of the group’s “multi-brand” and “globalization” strategies, Anta Sports separated the roles of chairman and CEO and implemented several other executive changes.
Adidas merges Canadian and U.S. businesses
Retail Insider reported Jan. 10 that Adidas is merging its U.S. and Canadian operations. According to the report, the new combined North American headquarters will be the current U.S. headquarters in Portland, Oregon. In 1993, the company established its U.S. operations in Portland and moved to its existing North Portland ...
Analysis: Sporting Goods Industry stocks suffer double-digit market cap decline
This exclusive analysis shows the development in the market capitalization of the top 87 stock-listed sporting goods companies.
Under Armour appoints new president and CEO from Marriott
Under Armour (UA) announced that Stephanie Linnartz will join the company as president, chief executive officer and member of the board of directors, effective Feb. 27, 2023. The company said the appointment follows a “thorough and deliberate search led by a committee of independent members of Under Armour’s Board of ...
Nike’s inventory position improves as China recovery commences
In reporting more than a 30 percent quarterly sales increase across three global geographies, growing momentum in its digital business worldwide, better results in Greater China and an improving inventory position, Nike executives told analysts yesterday afternoon that the company “is in a position to control its own destiny.”
Analysis: Sporting Goods Scorecard Q3 2022 – The top performers by sales and profit
Our Q3 Scorecard includes the revenue and profit development of 42 major sporting goods companies.
Companies call on European Commission to revise REACH regulation
22 global companies have called on the president of the European Commission to reverse the decision to postpone the revision of REACH to Q4 2023.
Former head of Yeezy-Adidas innovation lab launches FCTRY LAb with $6 million fundraising
Former Yeezy-Adidas Innovation Lab head Omar Bailey and Abhishek Som, a former Wall Street and private equity executive, have co-founded FCTRY LAb, a BIPOC-led, Los Angeles-based footwear prototyping lab and venture studio that aims “to democratize sneaker production and open-source innovation for emerging and established designers and brands of all ...
Rendle steps down as CEO, VF revises FY23 outlook
VF Corp. announced that Benno Dorer, lead independent director of the VF board of directors, has been appointed interim president and chief executive officer, effective immediately. Richard Carucci, who has served on the board since 2009, will serve as interim chairman of the board.
World Cup 2022: FIFA expects $6.4bn record revenues
During the month-long 2022 World Cup, the eight kit sponsors want the game to take center stage. FIFA’s decisions could derail that plan.
Foot Locker raises FY outlook, decides to exit some geographies
Citing better-than-expected third-quarter results, plans to further realign its brand portfolio and a strategy to move to 300 non-mall locations by 2024, Foot Locker today raised its full-year outlook. The retailer, which has decided to abandon a fourth quarter entry into Japan and exit joint ventures in Benelux and Eastern ...
Nike to launch new digital member platform called .Swoosh
Nike has developed a blockchain-based platform to serve as a “home” for all of its virtual creations – that is, “interactive digital objects such as virtual shoes or jerseys” for wearing “in digital games and immersive experiences.” In other words, NFTs.
China’s ongoing Covid-19 restrictions may force brands to reconsider market strategy
With some in the Biden Administration hoping to stabilize U.S. relations with China in talks between the country’s leaders at the G20 Summit in Bali today, footwear companies are considering a multitude of hard options for the coming year with respect to their operations in the globe’s second-largest economy.
