All News briefs articles – Page 73
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News briefsGlobal fitness equipment market to accelerate at a CAGR of 3% by 2033
According to a new report by research firm Allied Market Research, part of Allied Analytics, the global fitness equipment market is expected to reach $18.4 billion by 2033, representing a compound annual growth rate (CAGR) of 3.02 percent from 2024 to 2033. By type, the cardiovascular training equipment segment was ...
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News briefsWomen’s tennis and Saudi investment fund announce multi-year deal
The Women’s Tennis Association (WTA) and Public Investment Fund (PIF) have unveiled a multi-year partnership that is meant to grow women’s professional tennis and inspire more women and girls around the world to take up the sport. As part of the agreement, PIF will become the first-ever naming partner of ...
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News briefsZalando reshuffles its management
Zalando will be switching up its C-suite come Sept. 1 to match the change in plans that it announced in March. The objective is to increase market share in “pan-European fashion” and “lifestyle e-commerce” through B2C and B2B expansion. Co-founder David Schneider will be giving up the post of co-CEO ...
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News briefsJD Sports expanding in Iberia
JD Sports plans to open 23 stores and convert another 15 stores to the JD banner in Spain and Portugal, according to Diffusion Sport. Chief among the new ones will be locations in Barcelona and Tenerife. This could be a first stage or a modification of the plan we reported ...
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News briefsPeloton shares drop as company announces $275m debt offering and refinancing plans
Shares of Peloton Interactive, Inc. tumbled by 16.3 percent following the announcement of the company’s plans for a comprehensive global refinancing effort. The fitness giant revealed it would issue $275.0 million in convertible senior notes due in 2029 as part of a private offering. Additionally, Peloton plans to secure a ...
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News briefsVendor of classic jerseys to expand in North America, thanks to outside funding
The Chernin Group (TCG) has invested $38.5 million into Classic Football Shirts (CFS), a mostly online seller of, as the name suggests, football jerseys. The outfit was born in 2006, when founders Matthew Dale and Doug Bierton (CEO), struggling to find an original jersey for the West German team of ...
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News briefsLululemon announces organizational restructure following Chief Product Officer’s departure
Lululemon has announced significant organizational changes following the resignation of Sun Choe, its Chief Product Officer, who is departing later this month to pursue a new opportunity. Choe’s exit marks the end of her seven-year tenure with the company, during which she significantly bolstered Lululemon’s product-focused leadership. Calvin McDonald, CEO ...
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News briefsHydrow acquires majority in Speede Fitness
Hydrow, maker of high-end, connected rowing machines, has acquired a majority stake in Speede Fitness, according to CNBC. In addition, the company’s founder, Bruce Smith, will be ceding the post of CEO to current President and Chief Financial Officer John Stellato and taking up the post of Chairman. Hydrow enjoys ...
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News briefsNorwegian sports chains see 9.5 percent sales decline in Q1 2024
Sports chains in Norway, including XXL, Sport1, Intersport, Anton Sport, Löplabbet, Stadion, Obs!, and Stadium Outlet, reported a significant sales downturn in the first quarter of 2024, with revenues dropping 9.5 percent compared to the same period in 2023, totaling 2.7 billion Norwegian kroner (€233.2 million). The decline is attributed ...
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News briefsAston Villa secures kit deal with Adidas, ends controversial partnership with Castore
Aston Villa, the Premier League soccer club, has announced a significant multi-year kit supply agreement with Adidas, starting from the 2024-25 season. This partnership marks the end of Villa’s current association with Castore, which has been marred by player complaints over the quality and functionality of the kits. The deal ...
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News briefsSuperdry prepares for emergency sale amid restructuring plan uncertainty
Superdry, the British fashion retailer, is facing a pivotal moment as it braces for the potential rejection of a restructuring plan proposed by CEO Julian Dunkerton. If creditors do not approve the plan, Superdry is set to launch a four-week emergency sale process, which could lead to a pre-pack administration ...
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News briefsAdidas announces more affordable versions of popular sneakers
At Adidas 2024 Annual General Meeting in Fürth, Germany, CEO Bjørn Gulden announced that Adidas would make its sneakers more affordable. This strategy involves launching cheaper versions of top-selling models such as the Samba, aiming to cater to consumers attracted to trends but deterred by high prices. Gulden emphasized the ...
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News briefs
Sports Direct loses court appeal over Newcastle United’s kit supply deal with JD Sports
Sports Direct has failed in its bid to secure a Court of Appeal ruling over a dispute with Newcastle United concerning the football club’s exclusive kit supply deal with JD Sports for the 2024/25 Premier League season. The Frasers Group-owned retailer sought a temporary court order to force Newcastle United ...
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News briefsNike faces decline in running shoe website traffic as rivals gain ground
Nike has seen a notable decline in website traffic for its running shoe category, falling behind in a fiercely competitive market. According to Similarweb’s data, traffic to Nike.com’s running segment has steadily decreased from March 2022 to March 2024, a period during which rival brands like Brooks have caught up, ...
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News briefsFila Holdings reports flat Q1 net
Fila Holdings’ constant currency net income increased by 0.1 percent to 123,330 million Korean won (€84.1m) against KRW 118,257 million for the period ended March 31. The Q1 operating profit declined by 2.6 percent on a constant currency basis to KRW 163,259 million (€111.3m) compared to KRW 160,379 million. The ...
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News briefsTiger Woods’ new apparel brand faces criticism over performance issues at PGA Championship
Tiger Woods’ new apparel brand, Sun Day Red, faced criticism during the PGA Championship’s opening day as the golfer struggled with visible sweat issues. Launching earlier this year after ending a longstanding partnership with Nike, Woods’ brand aims to redefine golf wear. At golf club Valhalla, Woods appeared in a ...
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News briefsLoewe and On launch new collection
Loewe and On unveil their latest collaboration. The partnership introduces a new joint logo combining elements of both brands. The collection showcases an emphasis on streamlined design and optimal functionality with pieces like color-blocked performance fabrics in natural tones and statement outerwear suited for any weather. Highlights include insulated parkas, ...
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News briefsDecathlon partners with Recyc’elit to advance textile recycling and sustainability in the Industry
Decathlon has reinforced its commitment to sustainability by partnering with Recyc’elit, a pioneering startup specializing in the recycling of complex textiles. Founded in Lyon, France, in 2020 by PhD scientists Karim and Raouf Medimagh, Recyc’elit has introduced a technology for separating materials such as polyester, elastane, and polyamide, enhancing the ...
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News briefsCrocs expands ‘Old Crocs. New Life’ program nationwide to promote sustainability in footwear
Crocs has relaunched its ‘Old Crocs. New Life’ shoe takeback program, expanding the initiative to include all retail and outlet locations across the US, except in Hawaii and Puerto Rico. The program invites individuals to deposit Crocs shoes of any condition into collection boxes or send them ...
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News briefsAdidas shareholders re-elect chairman Thomas Rabe
At Adidas’ annual general meeting this Thursday, shareholders re-elected Thomas Rabe as chairman for another year, marking his fifth year in the role. The re-election comes despite opposition from Institutional Shareholder Services (ISS), a proxy advisory firm, which in April advised against Rabe’s reappointment. ISS cited concerns over Rabe’s multiple ...
