All Sporting Goods Intelligence articles in Volume 31, Issue 33+34 – Page 4
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News briefs
Under Armour expands its restructuring plan
Under Armour is now planning to lay off a total of 600 employees, working primarily in its corporate offices around the world and representing around 9 percent of its total staff, as part of an expanded restructuring program involving pre-tax charges of between $550 million and $600 million to be ...
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Article
Lululemon sells more than it had projected
Thanks to strong gains in e-commerce, and despite disruptions in stores because of the Covid-19 pandemic, Lululemon Athletica managed to grow revenues by 2 percent to $902.9 million in the second quarter ended on Aug. 2, with a growth of 3 percent in constant currencies. Direct-to-consumer net revenues represented 61.4 ...
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News briefs
Salvaged, Seafolly has a new CEO
Seafolly, the Australian swimwear and beachwear brand, has a new chief executive, Brendan Santamaria. The company came out of four months of voluntary bankruptcy proceedings at the beginning of August. Avoiding liquidation, it was rescued by its owner, L Catterton Asia, through a settlement under which it repaid in full ...
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News briefs
Helly Hansen overhauls its IT
Helly Hansen is overhauling its computer system to smooth operations, cut costs and come into compliance with regulations in various countries. The Norwegian sports apparel and gear producer is stringing together the Infor M3 enterprise resource platform (ERP), the Salesforce customer resource management (CRM) platform, the Front Systems point-of-sale system, ...
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News briefs
Fiske rejoins the industry as head of Marquee Brands
Marquee Brands, the parent company of Body Glove, Dakine and various fashion brands, has appointed Neil Fiske as its first chief executive. Sam Porat, managing director of Neuberger Berman, the investment company behind Marquee Brands, noted that Fiske is joining the group with “world-class multi-brand operational experience” and “a track ...
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News briefs
Decathlon recalls Domyos exercise balls
Decathlon is recalling about 510 Swiss balls for exercising – model numbers 8529175, 8529176 and 8529177 – sold under the Domyos brand in the U.S. and through www.decathlon.com from February 2019 to March 2020. Decathlon USA knows of at least 26 cases worldwide – none in the U.S. – in ...
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News briefs
Fanatics acquires Top of the World from Vetta
Fanatics, the Florida-based provider of sports merchandise, is acquiring some of the assets of Vetta Brands, which is currently under liquidation. Chief among these assets is Top of the World, which, until the Covid-19 pandemic wiped out its business, had been manufacturing hats for hundreds of college sports brands at ...
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ArticleJD reinstates guidance as H1 sales were better than expected
Instead of continuing to withhold its financial guidance like many other companies, JD Sports Fashion is now forecasting annual pre-tax profits of at least £265 million (€293.0m-$345.8m) for the current firscal year, while releasing better-than-expected sales figures for the 26 weeks ended on Aug. 1, despite the coronavirus pandemic. This ...
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News briefs
S&P downgrades Boardriders
Standard & Poor’s has downgraded the debt ratings for Boardriders in relation to a recent offering of $155 million intended to improve its liquidity position. The new offering includes $65 million worth of term loans contributed by the company’s major shareholder, Oaktree Capital Management, $45 million contributed by other existing ...
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News briefs
A single managing director for Derbystar
Andreas Filipovic, one of the two managing directors of Derbystar, has been dismissed from the German team sports company with immediate effect, without any reasons being given. The other managing director, Joachim Böhmer, will remain with the company, taking over Filipovic’s responsibilities in the areas of sales and sponsoring. Derbystar, ...
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News briefsApplications are open for Ispo Brandnew
ISPO Brandnew, the largest platform for sporting goods start-ups, is entering the next round, opening its application platform at ispo.com. The competition was launched 20 years ago and has since produced some high-profile winners including GoPro, Naish Kites, Maloja, Nixon and On Running. More than 400 products competed for the ...
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ArticleGym closings spur the demand for sporting goods in Russia
Consumer demand for sporting goods on the Russian market has been seen growing because 37 percent of the gyms in the country are still not allowed to resume operations, based on research conducted by Evotor. Quite a few gyms have been shut down for good, as their owners had not ...
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News briefs
100th redblue order show build up on its new virtual shows
Intersport Germany’s order show, called redblue, opened its doors on Sunday for the 100th time in Heilbronn. Six times a year, about 80 exhibitors and 600 to 800 retail members meet for 5 days per show to order the new collections. Despite the anniversary, the corona pandemic made it impossible ...
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News briefsArc’teryx launches virtual product advisor for consumers
If consumers can’t make it to a store, but have questions about Arc’teryx’ new product line for the autumn, they can now make an appointment online with the new Virtual Advisor. The Canadian brand claims that the 30-minute appointments, which are available worldwide but currently only in English, will help ...
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ArticleManagement reshuffle at Pentland
In an internal promotion, Chirag Patel is taking the place of Andy Long as chief executive of Pentland Brands, the owner of Berghaus, Canterbury, Ellesse, Speedo and other brands, overseeing a re-shaped executive team. Filling a new role, Long will become next January a director of Pentland Brands’ parent company, ...
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ArticleNew funding round for Keller Sports
Although its profits have been growing more than its sales, the Keller Group says ithas secured more than €10 million in new financing from its shareholders to further strengthen its position as “the leading digital premium sports community for sports and sports lifestyle products and services in Europe.” The management ...
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ArticleAmazon’s European chief is stepping down
Xavier Garambois, who has been running Amazon’s European retail operations for the past eight years, is leaving the company. According to The Telegraph, he will be replaced by Jorrit Van der Meulen, Amazon’s vice president for Europe, who has also been in charge of Amazon Devices (Alexa, Vesta, etc.) outside ...
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News briefs
Salomon to release a shoe model designed for recycling
Next February, Salomon will be introducing a running shoe for the circular economy, using recycled polyester that can subsequently be re-purposed for the brand’s ski boots, in time for release in winter 2022. The fruit of a purported three years’ research at the brand’s Annecy Design Center in the French ...
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News briefs
Li & Fung appoints chief customer officer
Li & Fung of Hong Kong has appointed Deepika Rana to the new post of chief customer officer. A 17-year veteran of at the international sourcing group, Rana will retain the titles of president of supply chain solutions, president of the executive office, and executive vice president and country director ...
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News briefs
Speedo to investigate its licensee in India
Speedo International is reportedly launching an investigation into a factory in India that manufactures products under its own brand name, because another Indian factory owned by the same licensee is suspected of labor abuses. The factory is operated by Speedo’s licensee for India and Sri Lanka, Page Industries, which distributes ...
