Latest Headlines – Page 102
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Goldwin turns around in Q4, budgets 10% growth
Goldwin’s sales fell by 7.6 percent to ¥90,479 million (€678.0m-$830.5m) in the financial year ended March 31, 2021, while operating profit declined by 15.1 percent to ¥14,838 million (€111.2m-$136.2m), better than a forecast made in February for declines of 10.1 percent and 28.5 percent, respectively. Attributable earnings inched down by ...
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After rising by 83.1% in Q1, Foot Locker will downsize its U.S. fleet
After phasing out Runners Point in Germany, the Foot Locker group is now planning to phase out its mall-based Footaction chain in the U.S. About two-thirds of its 230-odd stores will be closed over the next couple of years as leases expire, while the others will be converted to the ...
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VF is positive about 2022 as growth accelerates
VF Corp ended its fiscal year on a high note, prolonging a recovery that started in the second quarter. For the fourth quarter ended March 31, the company confirmed that its momentum is accelerating, delivering revenues that increased by 23 percent to $2,582 million, or by 19 percent in constant ...
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ArticleOnline sports retailing will grow by 13% a year, Signa Sports United estimates
A new report issued by Signa Sports United (SSU) and compiled in cooperation with the Boston Consulting Group predicts that global sports participation will grow from 2.5 billion to 3.5 billion people by 2025, and that online sale of sporting goods will continue to increase overproportionately. It could be used ...
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ArticleDeckers projects sales of over $1 bn for Hoka
Deckers Brands’ sales growth gained momentum in the fiscal fourth quarter, led by the continued global expansion of Hoka One One and a strong showing at its core Ugg brand. In the three months ended March 31, the group’s revenues increased by 49.7 percent to $561.2 million and were up ...
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Le Coq Sportif is being refinanced
The board of directors of Airesis has authorized the conclusion of convertible loans worth 2.5 million Swiss francs (€2.3m-$2.8m) to sustain the momentum of its major subsidiary, Le Coq Sportif, whose sales went up by 35 percent in the first quarter of 2021, followed by a 82 percent increase in ...
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Mizuno accelerates on sustainability and healthy lifestyles
Back in 1991, when global environmental issues were just starting to attract attention, Mizuno launched its own global environmental conservation initiative, the Crew21 Project. The company is now committing to strengthening and expanding its existing program. To that end, from 2021 Mizuno will focus on three key areas of sustainability: ...
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ArticleFourth Adidas x Parley Run for the Oceans to help end plastic waste
From May 28 to June 8, the Adidas x Parley #RunForTheOceans will take place for the fourth time, continuing its commitment to combat plastic pollution of the oceans. Runners around the world are encouraged to join the challenge on the Adidas Running App and run, walk or wheelchair to help ...
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ArticleSigna is negotiating to use the Padel-Point name in Spain
Signa Sport United is in negotiations to overcome a stumbling block to the use of its Padel-Point brand in Spain. As we reported in March, there already exists a pádel club called Padelpoint (no hyphen) – with an accompanying e-commerce site, padelpoint.es – in La Nuncia, just outside the Valencian ...
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Fila group sees a 25.1% sales gain in Q1, but Europe is down
The booming golf market came in handy for the Korean-based Fila group, boosting the revenues of its controlled Acushnet subsidiary. As a group, Fila Holdings thus saw its revenues rise by 25.1 percent to 988,281 million Korean won (€717.2m-$875.4m) in the first quarter, leading to a 239.7 percent jump in ...
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Descente’s annual sales fall by 22% despite a Q4 rebound
Descente, the Japanese sportswear group, posted revenues for the financial year ended March 31 of 96,862 million yen (€727.2m-$887.8m), down by 22.2 percent on the year earlier, due to the cancellations of events and competitions, plus the closure of retail stores due to the Covid-19 pandemic. The decline in its ...
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IOC discusses sustainability, legacy, gender equality and inclusion
Following the recent approval of its new strategic roadmap, Olympic Agenda 2020+5, the executive board of the International Olympic Committee (IOC) discussed on May 12 the practical implementation of a series of recommendations in the areas of sustainability, legacy, gender equality and inclusion as part of its new Gender Equality ...
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Canada Goose rises by 33.7%
While reporting a 33.7 percent rise in fourth-quarter sales to 208 million Canadian dollars (€141.4m-$171.7m), an upbeat Canada Goose said it expects revenues to exceed C$1 billion (€680m-$826m) for the first time for the current financial year as it plans to open 10 new stores - six in Asia/Pacific, two ...
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Yue Yue swings to Q1 profit
Yue Yuen Industrial posted a net profit of $85.4 million in the first quarter, in the middle of the $80-90 million range that it predicted in April, compared with a loss of $56.3 million the year earlier. The gross margins of its manufacturing business and its Chinese retail subsidiary, Pou ...
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ArticleLed by Europe, Asics returns to profits in Q1 on 25% higher sales
Asics Corp. reported a 24.8 percent sales increase to 106,549 million Yen (€802,901-$974,477) for the first quarter of 2021, with increases of 43.4 percent in Europe, 20.1 percent in North America, 95.8 percent in Greater China and just 0.5 percent in Japan. E-commerce outperformed, rising by 86 percent overall, with ...
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Mizuno finishes the year down by 11.4%
Net income returned to growth for Mizuno Corp. in the fourth quarter of its financial year, ended March 31, with net earnings rising by 28 percent to ¥1,811 million yen (€13,636-$16,550). The quarterly revenues fell by 7 percent to ¥43.7 billion (€329.1m-$399.4m), growing only in the Americas region because of ...
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Amazon doesn’t owe any taxes in Europe
Amazon EU has won an appeal to Europe’s General Court against a 2017 ruling by the European Commission that ordered it to pay €250 million in back taxes to the government of Luxembourg, which were considered as “illegal state aid.” The Commission reacted with a plea for an international agreement ...
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ArticleAmazon steps up counterfeit crackdown, blocks 10bn suspected listings
Amazon reports that it has stepped up its brand protection strategy in a bid to uphold its reputation as a dependable online marketplace amid growing numbers of counterfeiters and scammers attempting to sell products to home-bound consumers. The e-commerce giant said that last year it blocked more than 10 billion ...
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ArticleAlibaba posts a quarterly loss due to an anti-trust fine
Alibaba reported an attributable net loss of 5.5 billion yuan renminbi (€710m-$836m) for the fourth quarter ended March 31, primarily due to a RMB 18.2 billion (€2.3bn-$2.8bn) anti-trust fine imposed by Chinese anti-trust regulators which charged the company of abusing its dominant market position. The fine represented about 4 percent ...
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ArticleStrong Q1 leads Wolverine to raise guidance
Wolverine Worldwide raised its guidance for the full financial year due to better-than-expected e-commerce growth in the first quarter and optimism over Covid-19 vaccine roll-outs. The group’s revenues in the three months to April 3 rose by 16.3 percent to $510.7 million, just about missing estimates of $511.8 million. The ...
