All Sporting Goods Intelligence articles in Volume 34, Issue 17+18 – Page 3
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ArticleReebok e-com in Europe run by Farfetch, luxury sector expansion underway
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
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News briefsThe Athlete’s Foot launches new neighborhood store concept in the USA
Specialty footwear and lifestyle chain The Athlete’s Foot (TAF) has opened its first “neighborhood” concept store with several community-focused events at Atlantic Station in downtown Atlanta, Georgia. TAF is focused on enhancing the customer experience while continuing to drive hyperlocal product assortment and community engagement. The new store concept is ...
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News briefsOn revises its financial reporting by geography
Swiss performance sportswear brand On announced that it will release its financial results for the first quarter of 2023 on Tuesday, May 16, which will also mark the first time it will update its net revenue reporting differently by region. Specifically, “Rest of World,” which represented the Middle East, Africa ...
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News briefsK-Swiss and McLaren debut collab team collection
For the first time since announcing their multi-year partnership with McLaren Racing, L.A.-based tennis performance and heritage footwear brand K-Swiss is releasing the first of three joint collections: the Fan’s Starter Pack. K-Swiss has reimagined the McLaren Team shoe, offering its Tubes technology for everyday wear. The K-Swiss x McLaren ...
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News briefsYue Yuen issues Q1 profit warning on weak order book
Yue Yuen, which in mid-March warned of “gathering headwinds,” issued a Q1 profit warning late last week. The globe’s largest maker of footwear, citing a weak order book that impacted the operating efficiency of its manufacturing business, said net income is likely to decline by 40 to 45 percent to ...
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News briefsGolf goes meta
The sport of golf has gotten a collection of NFTs, courtesy of a Korean blockchain company. Wemade has drawn inspiration from some 110 Bored Ape Yacht Club NFTs – minted last year by ALTAVA Group in collaboration with Animoca Brands, The Sandbox and Elite Apes – to create some 300 ...
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News briefsPuma celebrates its mascot with new capsule
In a continuation of product releases and events to mark its 75th anniversary, Puma has unveiled the latest nod to its history: A capsule collection that celebrates the brand’s mascot, Super Puma. Originally featured in a limited comic book series created by Puma in the 1970s, Super Puma is a ...
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ArticleGarmin with losses in EMEA and gains in Americas, sticks to FY outlook
Garmin, which generated an 85 percent increase in Q1 free cash flow to nearly $232.4 million and paid a quarterly dividend approaching $140 million, is standing by its FY23 financial guidance that calls for approximate revenues of $5.0 billion and pro forma EPS of $5.15 a share. In Q1, ...
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ArticleLong-term growth outlook for Champion is solid despite current challenges
Hanesbrands, the Champion parent, is excited about the long-term outlook for the activewear brand despite current brand challenges in the U.S. and China. Besides facing lower sell-in shipments in China in Q1, Champion’s business was negatively impacted in its home U.S. market by a slowdown in consumer spending and high ...
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ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
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ArticleAdidas hit with shareholder lawsuit over Kanye West relationship
The proposed class action suit, filed in U.S. federal court in Oregon on April 28, names Adidas AG, the company’s former CEO Kasper Rorsted, and current CFO Harm Ohlmeyer as defendants. The 26-page complaint, filed on behalf of Adidas investor HRSA-ILA Funds and other shareholders, accuses the company of ignoring ...
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News briefsNautilus sells namesake trademark, pays down debt
Nautilus, Inc. has completed the sale of non-core assets, including the Nautilus brand trademark assets and related licenses, for approximately $13 million. The connected home fitness solution company used the net proceeds from the divestiture to pay down part of its term loan. Additionally, the Bowflex parent has improved the ...
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News briefsEuropean Refugee Team to compete at European Games in Poland
A European Olympic Committee (EOC) Refugee Team will compete at the upcoming Kraków-Małopolska 2023 European Games later this year due to a joint effort between the EOC and the Olympic Refuge Foundation (ORF). It will be the first time such a team competes in continental Games. The team is set ...
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News briefsKevin Durant becomes third NBA athlete to ink lifetime deal with Nike
Nike and basketball star Kevin Durant have agreed to a lifetime contract. Durant is just the third NBA player to land a lifetime deal with Nike, following both Michael Jordan and LeBron James. Durant’s relationship with the American sportswear giant dates back to 2007. The 34-year-old player has released 15 ...
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News briefsAuthentic Brands Group and Global Citizen present Take Action initiative
Reebok’s owner Authentic Brands Group is teaming up with international advocacy organization Global Citizen on Take Action, an exclusive initiative “to encourage consumers to activate their purchasing power and drive change toward the most urgent issues facing humanity and our planet.” As we previously reported, Authentic and Global Citizen announced ...
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News briefsSarah Massey appointed as RWC 2025 managing director
Sarah Massey has been appointed managing director of the Local Operating Company (LOC) for England’s Rugby World Cup (RWC) 2025, which will be the tenth edition of the women’s RWC. The LOC is a joint venture between World Rugby and the Rugby Football Union (RFU), or England Rugby. Most recently, ...
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News briefsRusty relaunches in Europe
Rusty Apparel is about to make a comeback in Europe. A new distribution structure for the European market is currently being set up from Germany. “We are thrilled to bring Rusty Apparel back to Europe,” says Matthias Warns of Jeff Green Vertriebs GmbH in Varel, which is responsible for setting ...
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News briefsSuperdry confirms equity raise
As reported by RetailWeek, Superdry has officially announced a capital increase to strengthen its balance sheet as part of a turnaround program. The brand intends to raise gross proceeds of approximately £12 million (€13.6m) by issuing new shares in a placing and retail offering. Founder and chief executive Julian Dunkerton ...
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News briefsSkechers promotes Richard Parker to Managing Director for UK and Ireland
Skechers promoted Richard Parker to Managing Director for the UK and Ireland. During his 22-year tenure at Skechers, the footwear industry veteran has held nearly every position within the UK & Ireland sales department, starting as an area sales manager before handling key accounts and national accounts such as QVC ...
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Short stops
Short Stops Week 18, 2023
CORPORATE AND M&A +++ Dakine veteran Micah Nickens has launched a new brand, Uncles Movement, in Hawaii, offering lifestyle and technical apparel as well as the “Betterman Challenge,” a 30-day action plan “designed to re-align our daily decisions and habits” +++ PDD Holdings, the owner of the discount e-commerce platforms ...
