New round of layoffs at VF Corporation
The owner of Vans, The North Face and other popular brands is going through a major turnaround plan.
Retailer Sneakersnstuff – from €100 million in turnover to bankruptcy
Sneakersnstuff, or SNS, is no more. The sneaker company that grew from a single shop in Stockholm in 1999 to a global brand with stores in New York, London and Tokyo and a turnover of €100m, has filed for bankruptcy. But maybe it’s not yet over, if one of the founder’s gets what he wants.
Adidas to close offices of sports app developer Runtastic in Austria
The closure affects 170 employees as part of the German company’s strategic shift to centralize digital operations.
Siux is on its own
The brand now forms part of a new company.
Galeria’s insolvency proceedings completed, restart under own management
The insolvency proceedings of the German department store chain, formerly Galeria Karstadt Kaufhof, have been successfully concluded after almost seven months with the implementation of an insolvency plan.
PIF seeks 50 percent of Selfridges
Saudi Arabia’s Public Investment Fund has reportedly offered to raise its stake in the department store chain.
Decathlon leaves Sweden, replaced by Swedish giant
A press release dated July 8 revealed the news that had been expected for several weeks: Decathlon will close its last Swedish door on July 21. The last store of the French giant will soon be occupied by a Swedish giant.
Nike implements job cuts at European headquarters
Nike is, according to Bloomberg, implementing layoffs across its European headquarters as part of a global strategy to reduce operational costs by $2 billion. The job cuts, impacting roughly 2 percent of its workforce worldwide, have already seen around 750 employees dismissed from its Beaverton, Oregon headquarters. The reduction extends ...
Galeria's investors pledge €100 million, seek restructuring, Sunday shopping and name change
According to media reports, Galeria Karstadt Kaufhof’s new owners are poised to inject up to €100 million into the company to revamp its remaining department stores over the next two to three years.
Peloton announces major workforce reduction amid financial struggles
In a move reflecting ongoing financial challenges, indoor training platform Peloton has revealed plans to cut 15 percent of its workforce, equating to approximately 400 positions, alongside the resignation of CEO Barry McCarthy.
