All Sporting Goods Intelligence articles in Volume 34, Issue 41+42
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PDF NewsletterSGI Europe Executive Edition: Vol 34 - 41+42
Analysis: The latest inventory levels in the Sporting Goods Industry, Q2 2023 | Puma maintains FY outlook as Q3 gross margin improves | VF Corp. abandons guidance, commences turnaround plan led by former Vans President | Skechers raises full-year earnings guidance as DTC continues to bolster Q3 sales gains | Deckers raises full-year guidance again on continued strength from Hoka, Ugg gains | XXL misses target in Q3: “Neither proud nor satisfied” | Garmin with strong Q3 results | Moncler Group’s revenues rise 7 percent in Q3 | Vulcabras’ sales rise by double-digits for 13th consecutive quarter | Super Retail Group updates year-to-date sales | Rental and second-hand markets contribute nearly £7bn to UK economy | Skechers sets its sights on basketball | Peloton appoints new Australian GM
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ArticleGarmin with strong Q3 results
Bolstered by double-digit percentage growth in revenue, operating income and net income and record Q3 sales in four of five segments, Garmin reported a 12.9 percent increase in operating income to $270.4 million for the period ended Sept. 30 as net income came in 22.0 percent higher at $257.2 million ...
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News briefsSports industry is driving urban development in Jinjiang in southeast China
The city of Jinjiang in southeast China’s Fujian Province has made great efforts in recent years to promote the integrated development of culture, sports and tourism and establish itself as China’s sports capital at the earliest opportunity. After four years, the 2023 International University Sports Federation (FISU) University Football World ...
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News briefsTopgolf Callaway acquires US off-course golf operator BigShots Golf
Topgolf Callaway Brands Corp. announced that it has acquired certain assets of Dallas, Texas-based Invited, Inc., the largest owner and operator of private golf clubs in the US, related to its BigShots Golf business. The purchase price for the initial closing is approximately $29 million. The acquisition adds the BigShots ...
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News briefsBrooks Running global sales up 5% year-to-date, holds top spot in US run channel
Brooks Running’s year-to-date global revenues are up 5 percent and 7 percent higher year-over-year in the US as the Seattle-based company has reached new runners, recovered from Covid-19-related supply chain disruptions, and normalized inventory levels. Year-to-date sales for the brand in France and the UK combined are up 22 percent, ...
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ArticleVulcabras’ sales rise by double-digits for 13th consecutive quarter
Despite a challenging retail environment and some unfavorable macroeconomic circumstances, the Brazilian Vulcabras group generated record quarterly sales, Ebitda, and gross margin for the period ended Sept. 30. Revenues rose by 10.2 percent to 731.4 million Brazilian reais (€136.7m) as Ebit improved by 42 percent to R$149.1 million (€27.9m). E-commerce ...
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News briefsAlo Yoga eyes $10 billion valuation
Alo Yoga, a privately held yoga firm founded in 2007 and owned by Los Angeles-based Color Image Apparel, is reportedly exploring the securement of a major investment that would value the premium-priced apparel firm at $10 billion. The brand, whose name is an acronym for air, land and ocean, is ...
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News briefsDakine launches 2024 winter outerwear collection with recyclable materials
Dakine is using its new Re-Psyched technology – according to the brand, a fully recyclable outerwear material – in its latest 2024 winter collection, which also features Bluesign fabrics and recycled materials. The outerwear starts with a high-end 100 percent recycled yarn woven at Japanese mills. It is then bonded ...
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News briefsSigna Holding also facing challenges
The slowdown in the real estate market is hitting René Benko’s Signa Holding severely, according to an article in the Austrian magazine News. Signa Holding is an investment holding company operating in the real estate, retail (Galeria Kaufhof, Signa Sports United (SSU), KaDeWe) and media (minority stake in Austrian newspapers ...
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News briefsUPS to acquire reverse logistics specialist Happy Returns from PayPal
UPS has announced that it is acquiring Happy Returns from PayPal. Happy Returns is a U.S.-based software and reverse logistics company that provides merchants and consumers in the U.S. with a hassle-free, boxless and label-free returns experience. “By combining Happy Returns’ easy digital experience and established drop-off points with ...
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ArticleVF Corp. abandons guidance, commences turnaround plan led by former Vans President
Admitting its US business “isn’t working well” and its cost structure is too high, VF Corp. reported its Q2 results with a comprehensive plan to turn around its flagging businesses under CEO Bracken Darrell, who joined the group in late July. Key elements of the strategy focus on fixing its ...
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News briefsAdidas footwear on display at Newcastle Contemporary Art
Adidas has announced Original Newcastle, a new exhibition at Newcastle Contemporary Art (NCA) in Newcastle upon Tyne, featuring archival and contemporary footwear in partnership with UK retailer END. The free exhibition, presented by Adidas Spezial, opened on Oct. 27 and will run until Nov. 5. The footwear on display includes ...
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News briefsAI-powered tennis app SwingVision raises $6 million
SwingVision has announced a $6 million Series A financing round led by Authentic Ventures. Other participants include pro tennis players Lindsay Davenport, Alison Riske and Rohan Bopanna, as well as Dropbox’s head of product Youssef Es-skouri and Glenn Solomon of GGV Capital. The new funding will be primarily used to ...
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News briefsArchroma and Trumpler partner on eco-friendly tanning process for leather production
Chemical solutions company Archroma has partnered with Trumpler (which specializes in leather chemicals) on a new eco-friendly process to produce high-performance leather. The new process, called DyTan, combines innovations from the two companies to offer an alternative to existing metal-free and chrome-tanned leather. DyTan is free from metal salts and ...
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News briefsWRAP wants to disseminate its Circular Design Toolkit for textile manufacturing
WRAP, a U.K.-based climate action charity that works in more than 40 countries, is launching its Circular Design Toolkit. This “go-to” resource is meant to help textile organizations embed circular design principles into their design and product development processes. According to WRAP, nearly 80 percent of the carbon footprint of ...
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News briefsDates for trade show in Japan announced
Dates for the 21st Interstyle trade show of action sports and the outdoor industry, held in Japan, have been announced. The largest trade show of its kind in the country will be held Feb. 13–15, 2024. Interstyle began as a business show for action sports related to surfing, skateboarding and ...
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News briefsCrocs launches Retail Takeback pilot program
Crocs has launched a Retail Takeback Pilot Program in the U.S., to donate or recycle old shoes. Under the program, consumers can bring old Crocs shoes, in any condition, back to all of the brand’s retail stores in 10 states: Colorado, Georgia, Illinois, Michigan, Massachusetts, Minnesota, Ohio, Pennsylvania, Virginia and ...
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ArticleXXL misses target in Q3: “Neither proud nor satisfied”
Source: XXL Freddy Sobin CEO Freddy Sobin, in office since May 2023, began the presentation of XXL ASA’s Q3 financial report by saying, “We are neither proud nor satisfied with the results.” The retail company’s sales fell 10.2 percent in the third quarter. At the same time, ...
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Short stops
Short Stops Week 44, 2023
CSR & SUSTAINABILITY +++ Alibaba Cloud said it is joining forces with the World Baseball Softball Confederation (WBSC) to drive sustainability in international baseball competitions with the help of its AI-driven sustainability platform Energy Expert +++ LEGAL & INSTITUTIONAL +++ The International Apparel Federation (IAF) has extended President ...
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News briefsSigna Sports United files for insolvency
Sports e-commerce company Signa Sports United (SSU), controlled by Austrian investor René Benko’s Signa Holding, has filed for insolvency. The Bielefeld District Court, where the application was filed, appointed Munich-based lawyer Christian Gerloff as insolvency administrator. The German business newspaper Handelsblatt was the first to report the insolvency filing, which ...
