Latest Headlines – Page 107
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After posting brilliant results, Lululemon will form three regions
The yoga apparel specialist seems unstoppable, posting sales and earnings for the fourth quarter that were at the high end of its forecasts. Lululemon Athletica saw its net income progress by 11 percent from the year-ago quarter to $329.8 million. The gross margin rose by 0.6 percentage points to 58.6 ...
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ArticleSuez Canal trade route has re-opened, but…
The already strained global supply chain could not be in worse conditions at a time when the economy is gearing up for an expected post-Covid jump in consumer demand, assuming that the current vaccination campaigns and remaining lockdowns will stop the spread of the virus. Adding to the reported harbor ...
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Industry and governments react to Myanmar military coup
Pou Chen, the Taiwanese group that controls Yue Yuen, announced on March 30 that it has decided to shut down temporarily its production of athletic shoes for Adidas and Nike in Myanmar for safety reasons. The local management and essential staff will remain in place for maintenance purposes. A Taiwanese ...
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Masks offset lower sportswear sales at Shenzhou
Shenzhou International Group Holdings, one of the major Chinese apparel manufacturers, reported nearly flat earnings and slightly higher sales for the year ended Dec. 31, thanks in part to its diversification into the manufacture of face masks, which were sold in large quantities in Japan. Its sales of sportswear, which ...
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Statements on forced labor stoke short-lived ire in China
The boycott in China of Nike, Adidas and other Western brands over their stance against alleged human rights violations in the cotton-manufacturing province of Xinjiang is losing momentum, at least in the sports sector, according to an article in the South China Morning Post. Both Nike and Adidas have remained ...
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Decathlon expands in southern Russia
Decathlon has started building a mega-store in Sochi that will be one of the chain’s biggest ones in Russia when it opens its doors on 5,000 square meters of selling space in 2022. The company is also planning to contract out new suppliers in the region, which hosted the Winter ...
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ArticleGiovanni Zoppas will run Tecnica Group
Giovanni Zoppas is returning to Tecnica Group as its chief executive and general manager, starting in May. The 62-year-old Italian executive knows the group well as he is a member of its board of directors and worked as general manager of its Nordica brand between 2003 and 2006, taking care ...
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ArticleKeen turns its process for PFC-free footwear open-source
Keen Footwear has developed an open-source model for manufacturing PFC-free footwear. To support this initiative, the brand has also challenged the entire outdoor footwear industry to be PFC-free by 2025. Product developers can visit www.keenfootwear.com/Detox to view details about the detoxification process that Keen has followed since 2014 to eliminate ...
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ArticleUzbekistan to produce Nike and Adidas footwear for Asia, Europe
The Uzbek company SinoInternational has inked an agreement to produce 3 million pairs of shoes in total under the Nike and Adidas brand names at its new factory in the Andijan region, starting from the fourth quarter of 2021. The facility is expected to achieve full production in the third ...
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Europe’s sports sponsorship market falls by 9%
The total value of Europe’s sponsorship market dropped by 23 percent across all industries last year, marking the first time it has declined in almost a decade, a new report from the European Sponsorship Association (ESA) in cooperation with Nielsen Sports has revealed. The drop was a consequence of the ...
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ArticleFrench industry veteran markets a versatile sports bag, the MUB
Frank Heissat, a veteran of the sporting goods industry, has big plans for MUB, a French start-up that has developed a practical and versatile line of bags and accessories that can be used at the same time for sport, business and travel. He has acquired a majority stake in the ...
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ArticleFila overtakes Anta in China, Amer posts a loss
Anta Sports Products has released generally good results for the full year, despite the impact of the pandemic. Fueled by the continued progress of Fila’s joint venture for the Chinese market, the group’s total revenues rose by 4.7 percent to 35,512 million yuan renminbi (€4.59bn-$5.43bn), bouncing back from a difficult ...
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ArticleEurope’s patchwork of Corona regulations for retailers
Daily changes to local Corona safety regulations for retail stores make it difficult to stay on top of things as the pandemic situation heats up again in most European countries. Here is an overview (as of March 25, subject to change and with regional variations) of the status of so-called ...
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Further comments on Adidas’ focus on fewer categories
As we have already reported, Adidas wants to focus on fewer sports categories as part of its new “Own the Game” business plan through 2025. The outdoor sector is one of them, along with football, running and training.. Adidas’ CEO, Kaspar Rorsted, told the Financial Times a few days ago ...
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361 Degrees’ sales drop by 9%
361 Degrees International saw its revenues decline by 9.0 percent in 2020 to 5,126.9 million yuan renminbi (€664.0m-$742.9m). The Chinese sporting goods company’s attributable profit went down by 4.0 percent to RMB 415.1 million (€53.8m-$60.1m). The gross margin dropped by 2.4 percentage points to 37.9 percent, mainly due to higher ...
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Yue Yuen posts losses despite retail rebound
Although China is resisting the pandemic much better than other markets, Yue Yen Industrial Holdings ended 2020 in the red, hampered by the global decline in the demand for shoes, especially in the casual segment. The company was strongly impacted by government measures to contain the spread of the disease ...
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EuroSIMA strikes a strategic alliance with USC
The European Surf Industry Manufacturers Association (EuroSIMA) and the French sporting goods industry association, Union Sport & Cycle (USC), have decided to join forces to give their combined 2,200 member companies more services, more leverage and a stronger voice with public authorities to deal with the current Covid-19 crisis. The ...
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ArticleShimano launches centennial website, announces executive changes
Shimano is celebrating its 100th anniversary this year with a new centennial website and photobook, which look back at the company’s product and technology achievements. Founded in 1921 by Shozaburo Shimano as a small ironworks in Sakai, Osaka, the company has now grown to employ more than 11,000 people. The ...
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ArticleEND. is valued at over $1 bn in Carlyle’s takeover
The Carlyle Group, a former investor in Golden Goose and Supreme, is acquiring a majority stake in END., a British online retailer for sneakers and other streetwear, lifestyle and personal luxury products; Carlyle is buying the shares from the founders of END, Christiaan Ashworth and John Parker, who will keep ...
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ArticleIntersport deploys electronic pricing in Greece and some other countries
The Fourlis Group, one of the master licensees of Intersport, has rolled out an electronic shelf labelling (ESL) solution that allows for instant price changes at some of its stores in Greece and other countries, permitting better price management and saving a lot of time. Based in Greece, Fourlis is ...
