All Sporting Goods Intelligence articles in Volume 33, Issue 33+34
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PDF NewsletterSGI Europe Executive Edition: Vol 33 - 33+34
Adidas braces for more China woes, potential slowdown in global consumer spending | Signa Sports United results impacted by continued bike woes | On Holding AG keeps rolling on, raises FY guidance again | Asics Corp. H1 sales bolstered by running, hikes FY outlook | Fila’s Q1 revenues boosted by Acushnet, royalty income | Callaway generates double-digit sales gains across all segments, raises FY outlook | Wolverine outperforms in Q2, but lowers FY forecast | Li Ning gets double-digit H1 sales gains from running, basketball | Yue Yuen H1 profits dragged down by Pou Sheng | Brooks Running posts 11 percent increase in Q2 global revenue | Tenson sells ColourWear to Swedish Active Brands Group | ISPO Shanghai in Nanjing with record attendance | Hanesbrands remains committed to Champion despite difficult quarter | Canada Goose revenues rise 24 percent in seasonally small quarter | Allbirds shrinks staff and cuts costs while Q2 loss increases | New Wave’s Sports & Leisure segment sees 53% sales growth in Q2 | Zalando publishes Q2 figures and reveals adjustment plans to improve order economics | Crocs lowers outlook, stock price takes hit | Nautilus maintains H2 outlook despite tough Q1 | Yonex hikes FY outlook on pleasing China recovery | GoPro Q1 revenues driven by subscriptions, EMEA and APAC | Alpargatas sees Havaianas’ revenues fall double-digits in U.S., China | Archroma takes over Textile Effects business from Huntsman
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News briefsHyosung TNC commercializes bio-based spandex
South Korean company Hyosung TNC reports success in extracting spandex from corn and commercializing the world’s first bio-based spandex. The bio-derived material, Creora bio-based, uses a natural material extracted from corn instead of coal. The material is certified by the U.S. Department of Agriculture and received the Eco Product Mark, ...
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News briefs
JD Sports signs its first sponsorship deal in Spanish football
Spanish football club Real Valladolid has announced JD Sports as a new official sponsor. The contract, the value of which was not disclosed, runs until 2024. Under the terms of the deal, Real Valladolid will have JD Sports’ logo on the left sleeve of the shirts of all the teams ...
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News briefs
Pressio partners with Professional Triathletes Organisation
The Professional Triathletes Organisation (PTO) has announced a new partnership with Pressio. The sustainable performance sportswear brand will deliver a brand new range of sustainable merchandise for the organization. Pressio, which defines itself as “the most sustainable sportswear company in existence,” was founded in 2021 by Jamie Hunt and Andy ...
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News briefsUSTA sells Western and Southern Open
Beemok Capital has entered into a definitive agreement to acquire Cincinnati’s Western and Southern Open from the U.S. Tennis Association (USTA). The firm, described as the “family office of Benjamin Navarro,” has not disclosed terms, but Sports Business Journal reports that early bidders had made offers ranging from $200 to ...
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ArticleNew Wave’s Sports & Leisure segment sees 53% sales growth in Q2
The Swedish-based New Wave Group, which owns sports brands like Craft and Cutter & Back and distributes several others, saw total sales in the second quarter ended June 2022 rise by 36 percent to 2,019 million Swedish kronor (€191.0m), with growth led by the rise in the top line of ...
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ArticleWomen’s football in Europe to grow sixfold in commercial value by 2033
UEFA has launched a new report highlighting the potential for growth in the European women’s club and league game over the next decade. According to the report titled The Business Case for Women’s Football, women’s football could see a six-fold increase in its commercial value over the next decade, reaching ...
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News briefsCarhartt appoints Susan Hennike as chief brand officer
Source: Carhartt Susan Hennike The U.S. workwear brand Carhartt, family-owned and managed by the descendants of the company’s founder, Hamilton Carhartt, has hired Susan Hennike as its new chief brand officer. She is an apparel industry veteran with managing experience from Nike, Adidas International and a 12-year ...
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News briefsDubai’s F5 Global to open first international pop-up in London
F5 Global, a sustainable athleisure brand based in Dubai, has announced the opening of its first-ever international pop-up store. It will be open in London at 58 Oxford Street on Aug. 22-28. F5 Global’s pop-up will sell the brand’s signature sustainable athleisure collection for adults and children, which includes hoodies, ...
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News briefsMen’s fashion brand Strellson moves into e-sports
Ovation eSports AG, a Swiss e-sports organization based in Zurich, announced a collaboration with Swiss menswear brand Strellson. Ovation manages a team of young athletes who act as both content creators and influencers in the gaming industry. The collaboration spans the entire Ovation organization and its esports teams. As part ...
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News briefs
Ski base manufacturer Isosport buys Romanian factory from Novo Tech
Eisenstadt, Austria-based plastics composites manufacturer Isosport has acquired Polish plastics specialist Novo Tech’s factory in Oradea, western Romania, for an undisclosed price, deal advisor Nestor Nestor Diculescu Kingston Petersen told Snow Industry News earlier this week. Isosport is the world leader in innovative plastic solutions for the ski, snowboard and ...
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News briefsAllbirds announces appointment of Nike veteran to its board of directors
While the company is reportedly considering divesting its activewear inventory at a loss in the double-digit millions of dollars to simplify its strategy following recent layoffs and a stock decline, San Francisco-based global lifestyle brand Allbirds Inc. announced the appointment of Ann Freeman to the company’s board of directors, effective ...
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ArticleSigna Sports United results impacted by continued bike woes
Signa Sports United’s third-quarter results were negatively impacted by deteriorating consumer sentiment and persistent supply chain issues for its bike and e-bike business. The Berlin, Germany company adapted operations in the wake of heightened inflationary pressures and a worsening geopolitical landscape in its core European markets. The adjusted Ebitda ...
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ArticleLi Ning gets double-digit H1 sales gains from running, basketball
Operating profit (Ebit) at Li Ning Company increased 4.1 percent to 2,643 million yuan renminbi (€375.3m) for the six months ended June 30 as total revenues rose 21.7 percent to RMB 12,409 million (€1.76b). The six-month gross margin slipped to 50.0 percent from 55.9 percent. The H1 net profit attributable ...
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Short stops
Short Stops Week 33, 2022
CORPORATE AND M&A +++ Nike, for the second consecutive year, has closed its global corporate office from Aug. 15-19 for “Well-Being Week,” an opportunity for Nike employees to relax and recharge +++ British fashion retail chain Ted Baker has agreed to a cut-price £211 million (€250.5m) takeover by U.S.-based Reebok-owner ...
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ArticleISPO Shanghai in Nanjing with record attendance
The latest edition of ISPO Shanghai, which was held in Nanjing due to the pandemic, welcomed 20,089 industry visitors, compared to about 19,000 in 2021 (+6%) and 17,800 in 2020. The event featured 342 brands from 210 exhibiting companies and took place at the Nanjing International Exhibition Center (NIEC) on ...
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News briefs1% for the Planet publishes 2021 annual report, grows in members and donations
In its 2021 annual report, 1% for the Planet looks back at the environmental projects carried out worldwide and provides insight into its financial situation. In 2021, the network saw growth in members, certified donations and supported nonprofits. Specifically, the organization reported a 25 percent increase in corporate members, resulting ...
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ArticleFila’s Q1 revenues boosted by Acushnet, royalty income
Fila Holdings group revenues rose 15.0 percent (+4.3% currency neutral) to a quarterly record high of 1,171,903 million Korean won (€820.3m) in the second quarter ended June 30. More than 18 percent revenue growth at Acushnet to KRW 828,977 million (€580.3m) fueled by solid demand in North America and a ...
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News briefsMore job cuts coming to Peloton Interactive
Peloton Interactive, slated to report fourth-quarter results on Aug. 25, will reportedly slash its customer support team based in Plano, Texas and Tempe, Arizona in half, eliminating nearly 800 positions, and outsource its “final-mile delivery” to third-party providers. The action, as first reported late last week by Bloomberg and the ...
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News briefsHanesbrands’ ransomware attack cost $100 million in sales
Hanesbrands’ ability to order materials, make and ship orders, and process payments was negatively impacted during its second quarter due to a ransomware attack on the company’s information technology systems that was identified on May 24. The company was unable to fill customer orders for about three weeks. The Champion ...
