ISPO Munich 2023: Alive and kicking
Our editors sum up the biggest themes, most important numbers, trends and pinch points on show at ISPO Munich 2023.
What to expect from McKinsey’s Sporting Goods Report 2024
What’s coming up in McKinsey’s Sporting Goods Report 2024? We bring you the 4 key trends McKinsey is predicting, as presented at ISPO Munich.
Zumiez braces for FY loss despite higher Blue Tomato sales
Zumiez is now forecasting a full-year net loss and annual sales to fall more than 8 percent after reporting a net loss of $2.23 million against a profit of $6.9 million in Q3 ended Oct. 28. The operating loss was $157,000 against $10.4 million as gross margin contracted 70 basis ...
WeSports invests in Tretorn and Thevea Group
Stockholm-based group WeSports has acquired a stake in Thevea Brands Group and Tretorn and established a long-term partnership with the founders and management team. According to WeSports, there is an option to acquire 100 percent of the company if certain conditions are met.
Puma turns sneakers into compost
After announcing the Re:Suede experiment in 2021, Puma has now reported back and shown that turning the experimental version of its classic Suede sneaker into compost can be done under certain customized industrial conditions.
Foot Locker takes measures to reach two types of holiday shoppers
Saddled with a 10.5 percent year-over-year increase in inventory but also gaining some traction with customers seeking innovation and latest trend products, Foot Locker has taken strategic steps to reach both deal-seeking customers and others who want premium, on-trend items from key brands such as Nike, Puma, New Balance and ...
Asics sets FY26 targets, eyes operating margin of 12 percent
Asics Corp. has raised its profitability and sales bars in a new three-year strategy unveiled this week. The Japanese company wants to achieve a 12 percent operating margin in 2026 on 7-10 percent sales CAGR over forecasted FY23 revenues of ¥570 billion (€3.51b). To achieve those objectives, the group says ...
FESI welcomes EU Council’s latest steps towards gender equality in sports
The Federation of the European Sporting Goods Industry (FESI) has welcomed the steps taken by the European Council in recognizing the importance of gender equality in sport, calling it a “significant stride” towards the implementation of the recommendations set forth in FESI’s StrongHer manifesto. FESI commended the Council for its ...
Snowboard brand Forum returns to Europe
Austrian board sports and lifestyle specialist Blue Tomato, part of the portfolio of US retailer Zumiez since 2012, is exclusively bringing the snowboards and snow and streetwear from US company Forum back to Europe. The brand went off the market in 2014 and relaunched exclusively online in 2022 in the ...
France announces physical activity and sport as 2024’s “Grande Cause Nationale”
Each year since 1977, the French Prime Minister has awarded the official label “Grande Cause Nationale” (great national cause) to a public interest campaign implemented by an organization or a group of associations, which will receive assistance and publicity throughout the year. The theme changes every year. For the first ...
How Sport 2000’s "One Sport" strategy is evolving
Ahead of ISPO Munich 2023, Sport 2000 International has released an update of its One Sport 2000 strategy and progress. In a statement, Margit Gosau, CEO of Sport 2000 International and Sport 2000 GmbH, discusses a three-pronged approach which includes expanding specialization and progressively implementing this in brick-and-mortar retail formats, ...
Alibaba’s founder mulls cutting stake
Jack Ma, founder of the Chinese e-commerce giant Alibaba, is weighing whether to sell 10 million shares in the company through his family’s trust and re-invest the proceeds in agriculture and public welfare projects. Ma disclosed his potential transaction in a regulatory filing on the same day that Alibaba reported ...
Digitalization is key for 85% of European SMEs, but gaps in tech adoption
Digitalization is a powerful growth lever in today’s economy, but companies are not always up to speed with technological developments, especially small and medium-sized enterprises (SMEs). According to new research from Sage, 85 percent of European SMEs consider digital tech as a key element to their growth plans. Meanwhile, SMEs ...
EssilorLuxottica adds Swedish eyewear brand Bliz to sports portfolio
EssilorLuxottica has announced the integration of Bliz, a sports eyewear brand, snow goggles and helmets, in its sports portfolio, which already includes Oakley and Costa. The brand was previously owned by Future Eyewear, a Swedish-based eyewear company selling and distributing other brands like Dr. Zipe (sports eyewear), Prestige (sunglasses) or ...
Strong e-commerce sales bolster Björn Borg results
Björn Borg’s own e-commerce sales increased by 25 percent in Q3, with own comparable store revenues increasing by 16 percent but down 4 percent overall due to planned store closures. Within e-commerce, sports apparel sales grew by 58 percent year-over-year, bag sales rose by 59 percent, and footwear sales stepped ...
Three new independent directors for HanesBrands
HanesBrands has appointed three new independent directors to its Board of Directors. Colin Browne, Natasha Chand and John Mehas will take on the new roles, effective immediately. With these appointments, the company’s board will temporarily expand to 13 directors before returning to 10 directors effective at the 2024 annual meeting ...
Latest StockX report gives an insight into what sneakerheads want
Sneaker resale platform StockX has unveiled its latest annual Big Facts: 2023 Trends report, giving an insight into what’s popular in the sneaker market this year. Retro Adidas styles and character-inspired Crocs are among the best-performing trends.
Fila Holdings’ results hurt by challenges in US, Korea
Fila Holdings’ constant-currency operating profit declined by 20.6 percent to KRW 92,563 million (€65.2m) for the period ended Sep. 30. Q3 net income slipped by 35.7 percent to KRW 57,743 million (€40.7m) with a KRW 98,906 million (€69.6m) profit at Acushnet, offsetting a quarterly net loss of KRW 6,343 million ...
World’s top pádel retailer optimistic despite glut
360° Padel Group has reduced its current year revenue forecast to €62 million, according to CMDsport, as the industry-wide inventory glut has sparked a margin-narrowing price war. However, by the end of 2023, it hopes to be operating more than 500 physical stores between its Pádel Nuestro and Pádel Nuestro ...
On Holding maintains lofty objectives despite moderating wholesale revenues
The Swiss company On Holding, which intends to double its net sales by 2026, increase its gross profit margin to above 60 percent and push its adjusted Ebitda above 18 percent, is only forecasting high-single-digit wholesale growth in Q4 2023. Direct-to-consumer sales (DTC), meanwhile, are expected to continue their torrid ...
Nike Inc. makes executive changes to help "reimagine sport for the next generation of athletes"
Nike Inc. announced on Nov. 14 leadership changes that “will continue to build on its strong momentum and deep commitment to serving athletes with product innovation, design excellence, and powerful storytelling while imagining the future of sport and serving consumers at speed and scale.”
VF Corp publishes Environmental and Social Responsibility Report 2023
Under the title “Purpose. Driven.” VF Corp has published its Environmental and Social Responsibility Report for the 2023 financial year. The comprehensive report emphasizes the key areas that VF focuses on: People, Planet and Product. Topics covered in the report include gender parity, racial equality, human rights, product traceability, climate ...
Lower costs, inventory benefit Grupo SBF in Q3
Grupo SBF, which operates Brazil’s top sporting goods chain in Centauro, received a lift from lower expenses, growth within its digital channel, and lower inventory levels in Q3 ended Sep. 30. The group reported a 216 percent increase in year-over-year operating income to 168.6 million Brazilian reais (€32.1m) as net ...
Below-average order fill rates continue to impact Yue Yuen
Profit attributable to Yue Yuen shareholders fell by 49 percent to $137.7 million from $270.1 million for the nine months ended Sept. 30, as sales declined by 14.1 percent to $5.99 billion from $6.97 billion. Manufacturing revenues declined by 20.9 percent year-over-year to $3.79 billion. Ebit sunk by 38 percent ...
Sweet Protection and Kari Traa are realigning in Central Europe
The Norwegian sportswear and equipment company Active Brands is realigning its activities in Central Europe. The focus is on the two main brands Sweet Protection and Kari Traa in the DACH (Germany, Austria and Switzerland) market. The aim of Active Brands’ reorganization is to offer existing and new retail partners ...
Elevate Outdoor Collective fills further key positions
Elevate Outdoor Collective (EOC) announced some new additions and changes to its team around the group’s 12 brands (K2 Skis, K2 Snowboarding, Marker, Dalbello, Völkl, Ride Snowboards, Line Skis, BCA, Atlas Snow Shoe Co, Tubbs Snowshoes, Madshus and K2 Skates).
Footway Group presents reorganization plan
After the Swedish Footway Group AB filed for voluntary company reorganization in July, the company submitted a preliminary reorganization plan to its creditors at the beginning of November. The plan includes a proposal for debt relief of approximately 70 million Swedish kroner (€6.02m) and a new share issue of the ...
Decathlon relies on renewable energies in China to achieve CO2 targets
Sporting goods retailer Decathlon brought together 14 industry partners in China with the China General Nuclear Power New Energy Group (CGN) in the Fujian Province on Nov. 7 to sign a power purchase agreement for renewable energy.
Descente’s operating profit dips due to absence of one-time gain
Descente, without the benefit of a one-time gain it had in Q1, realized a 15.2 percent decline in operating profit to ¥4.15 billion (€25.6m) despite a 4.9 percent increase in revenues to ¥60.0 billion (€370.5m) for the three months ended Sep. 30. Sales of athleticwear improved in the period, but ...
Asics lifts FY outlook again as 9-month grows by 73%
Asics Corp. has raised its annual outlook three months after suggesting its financial year sales will likely reach a record high. The Japanese group is now forecasting annual revenues at ¥570.0 billion (€3.53bn), up 3.6 percent from an early August estimate, and FY operating profit of ¥52.0 billion (€321.8m), up ...
