All Sporting Goods Intelligence articles in Volume 32, Issue 45+46 – Page 3
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ArticleOn to make running shoes from carbon waste
On, the Swiss brand of running shoes that recently went publicin New York, has announced a shift away from petroleum-based resources with the development of a new foam material called CleanCloud™. It is made from carbon emissions as a raw material. On is the first company in the footwear industry ...
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News briefsDorel Sports' Q3 revenues slip as supply-chain constraints bite
Dorel Industries said third-quarter revenue at its Dorel Sports segment fell slightly on supply-chain disruption and parts shortages, leading it to lower fourth-quarter expectations for the group as a whole. The company, which last month agreed to sell Dorel Sports to Pon Group for $810 million, said the segment’s revenues ...
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ArticleGoPro's Christmas sales won’t be hit by supply crisis after a good quarter
Indicating that it does not expect Christmas sales to be hit by supply-chain constraints, GoPro reported better-than-expected third-quarter results. The company posted a net profit of $311.8 million for the period, up from $3.3 million a year ago. Revenues grew by 13 percent to $317 million against GoPro’s own estimates ...
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News briefs
Norda puts a graphene membrane into a shoe
Norda, the new Canadian brand of running shoes, has come out with what it claims to be the first shoe that features a graphene membrane. A British company, Inov-8, had put the sturdy and lightweight material in its shoes before, but in their soles and midsoles. The new nordaTM 001 ...
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News briefs
Macron sponsors Basketball Australia
Macron announces a multi-year technical sponsorship deal with Basketball Australia, starting in January 2022 and covering all the men’s, women’s and junior teams. The dynamic Italian brand of teamwear will take the place of Peak Sports, the Chinese brand that sponsors the NBA in its own market. Macron already has ...
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News briefsAdidas scores high on S&P's sustainability index
Adidas has undergone a very positive ESG (environmental, social and governance) evaluation conducted by the ratings agency Standard & Poor’s (S&P), receiving a score of 85/100. It is the most recent of the 27 companies to obtain a public ESG profile, and the only one in the sports industry. By ...
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ArticleAcushnet raises forecasts for 2021
Acushnet Holdings Corp, the U.S.-based group behind the golf brands Titleist, FootJoy and Pinnacle and the Swiss sports apparel brand Kjus, reported an 8.0 percent increase in consolidated sales to $521.6 million in the third quarter ended Sept. 30, scoring better than what analysts had expected. On a constant-currency basis, ...
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ArticleChampion grew strongly in Q3
Hanesbrands reported increases in its global sales of Champion products of 20 percent in absolute terms and 33 percent excluding discontinued operations such as the C9 mass market program in the U.S., during the third quarter ended Oct. 2, with balanced performances between the U.S. and the rest of the ...
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ArticleUK anti-trust authority again blocks the JD Sports-Footasylum merger
The U.K.Competition and Markets Authority (CMA) issued a new verdict on Nov. 4 confirming its conclusion that JD Sports Fashion must divest Footasylum, the chain of sports fashion stores that it bought in May 2019, as it has resulted, or may be expected to result, in “a substantial lessening of ...
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Short stops
Nov. 3 Short Stops: Canada Goose – Foot Locker - Gymshark – Iconix - JD – Nike – Nordica - Sport 2000
Corporate: +++ JD Sports Fashion has set a new date of Nov. 26 for a general shareholders’ meeting being convened to approve a proposed stock split +++ Lewis Morgan, a co-founder of Gymshark who sold his stake in the company at the end of last year, ...
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News briefs
Foot Locker launches Sidestep in Spain
Catering to a growing hype for sneakers in Spain, Foot Locker is planning to open its first stores under the trendy Sidestep banner in the country, competing with other foreign banners like Courir, Snipes and JD Sports, and many local banners. The first Sidestep stores are slated for openings in ...
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News briefs
Coke buys sports-drink brand Bodyarmor
The Coca-Cola Company has acquired Bodyarmor, a sports drink producer founded in 2011, for approximately $5.6 billion.This is the largest acquisition in Coca-Cola’s history, overtaking that of the Costa coffee chain in 2018 for $5.1 billion. The soda king has been Bodyarmor’s second-largest shareholder, with a 15 percent stake, since ...
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News briefs
Boardriders reshuffles management
Brad Blankinship, who has been running Boardriders’ RVCA brand of apparel, has been appointed general manager of the Quiksilver brand. He succeeds Garry Wall, a 28-year veteran of Quiksilver who is leaving the group after running the brand for the last six years. David Brooks will be the new general ...
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ArticleExpanded: Allbirds doubles its valuation as it goes public
Allbirds, the California-based producer of Wool Runner merino shoes and other eco-friendly sneakers and apparel sold in a direct-to-consumer mode, started trading on the Nasdaq exchange under the ticker symbol BIRD at an opening price of $21.21 per share on Wednesday, Nov. 3. That was more than 40 percent above ...
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News briefs
Wilson sets up pádel business team
Wilson Sporting Goods has put together a team to improve its positioning in the pádel market, which is expanding internationally. To lead this team, it has selected its territory commercial manager for southern Europe, Ignacio Cabrera, a 25-year Spanish veteran in sporting goods who has worked for Quiksilver, Adidas and ...
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News briefs
Reebok’s founder gets Drapers’ Lifetime Achievement Award
Joe Foster, who founded Reebok along with his late brother Jeff in 1958, received this year’s Life Achievement Award from the British Drapers magazine, coinciding with the sale of the brand to the Authentic Brands Group. Foster stepped back in 1989, and the move made the front page of the ...
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ArticleZalando’s Q3 profits slump in price-cutting war, but guidance is upgraded
Zalando reported a slump in third-quarter profits after cutting prices in response to promotions made at physical stores after Covid lockdowns were completely lifted in Germany and other key markets. While sales rose by 23 percent to €2.3 billion as compared to a year ago, adjusted operating earnings (Ebit) for ...
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ArticleNice Footwear is valued up to €16.5m in IPO
Nice Footwear, an Italian company specializing in the production and sourcing of sneakers, is being listed on the Euronex Growth market in Milan. The company set a price range of €9.00-€11.00 per share, valuing the company at between €13.5 million and €16.5 million, representing 4.87 to 5.95 times last year’s ...
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Short stops
Nov. 2 Short Stops: Callaway - Faction - Lolë – Lycra - Superdry
Corporate: +++ Julian Dunkerton, founder and CEO of Superdry, has spent nearly £1 million to hike his share in the loss-making company to 20.7% +++ Callaway Golf Company has spent $30 million for a minority stake in Five Iron Golf; an urban indoor golf and entertainment firm with seven locations ...
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ArticleUA upgrades guidance after a good Q3
Under Armour upgraded its guidance while posting better-than-expected results for the third quarter ended Sept. 30, leading to a jump of more than 18 percent in its stock price, close to its 52-week record of $26.45. The company’s net earnings soared to $113.4 million, more than twice the analysts’ consensus ...
