Latest Headlines – Page 12
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Balena & For Ever forge circular future for footwear
Balena’s collaboration with For Ever, one of the world’s largest outsole makers, marks a significant stride toward circularity in the footwear industry. The groundbreaking partnership, set to be unveiled at Lineapelle-Italy on February 20th, signals a pivotal moment in sustainable shoe manufacturing.
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Decathlon’s Kenyan running project, and some others
Decathlon has opened a training center for distance runners. Located in Iten, Kenya, with a rooftop view of the Rift Valley, the center consists of a 500-square-meter main building, with 11 bedrooms of 25 square meters each, a gym and a refectory. It is built to lodge 22 runners at ...
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Absolute Run Kaufmann opens in Heilbronn
Absolute Run Kaufmann will open in Heilbronn, Germany, on Feb. 22, 2024. Behind the freshly converted store are Sport 2000 GmbH and partner Schuhhaus Kaufmann. The store in the city center, with 200 sqm of retail space, is the first Absolute Run store in the state of Baden-Württemberg. The Managing ...
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EOC launches Collective Progress Initiative, aiming to achieve net zero by 2050
With the launch of the Collective Progress Initiative, Elevate Outdoor Collective’s (EOC) global brands – K2 Skis, K2 Snowboarding, Marker, Dalbello, Völkl, Ride Snowboards, Line Skis, Backcountry Access, Atlas Snow Shoe Co, Tubbs Snowshoes, Madshus and K2 Skates – are working hand-in-hand to eliminate waste and maximize the recyclability and ...
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Crocs brand kicks off 2024 with momentum, $5 billion sales target not until later
The Crocs brand has started 2024 “with momentum” after sales in 2023 jumped by 14 percent to $3.0 billion, but management now expects it will take a bit longer to reach a $5.0 billion 2026 sales target unveiled in 2021. “I don’t think it’s realistic to achieve the $5 billion ...
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HanesBrands plots next moves for Champion business
Stephen Bratspies, CEO of HanesBrands, hinted about strategic alternatives for the company’s flagging Champion business but offered few specifics when speaking to analysts during the apparel company’s year-end conference call. “[…] the process is progressing as expected,” Bratspies commented, adding, “We continue to evaluate the right path forward as ...
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Nike announces 2% workforce reduction
Nike has officially confirmed a 2 percent reduction in its workforce, following months of speculation. This decision aligns with the company’s goal to streamline operations and save up to $2 billion in costs over the next three years, as announced in December. CEO John Donahoe sent an internal memo to ...
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Xponential completes divestiture of Stride Fitness
Xponential Fitness, the world’s largest franchisor of health and wellness brands, announced that it has finalized the divestiture of its Stride Fitness brand to Stride Fitness Franchising Inc., owned by Shaun Grove. Grove is currently the President of Rumble Boxing. Founded in 2017 by Misa Dugally and Katie Ownbey and ...
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Premier League launches “More Than a Game” campaign
The Premier League is launching “More Than a Game,” a campaign to showcase its investment in all levels of football and its impact on local communities. The Premier League’s financial support covers all 92 Premier League and English Football League (EFL) clubs and 72 National League clubs, as well as ...
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Topgolf Callaway forecasts higher revenue, Ebitda and cash flow in 2024
Topgolf Callaway, which is working on several synergistic strategies to connect and grow its various businesses, is forecasting modest cash flow growth this year before it ramps up between 2025 and 2028 and bolsters earnings per share expansion starting next year. Despite currency headwinds and a difficult year-over-year comparison for ...
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Squash racquet market is poised to increase, but needs more visibility
According to a recent report by Research and Markets, the global squash racquets market was valued at $175 million in 2022 and is expected to post a compound annual growth rate (CAGR) of 4.2 percent through 2028. Growth is driven by the sport’s increasing popularity and an expanding player base, ...
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Enda Athletic founder appointed as On’s head of Africa
Swiss running brand On has appointed Navalayo Osembo as its new head of Africa, signaling its commitment to broaden its activities on the continent. Osembo brings valuable experience to On, having recently sold Enda Athletic, a Kenyan running-shoe brand she co-founded in 2017. The acquisition by footwear ...
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Maker of VR NFL game raises $20m
StatusPro, the virtua reality (VR) company of two former NFL players, Troy Jones and Andrew “Hawk” Hawkins, is to receive $20 million in a series-A funding round led by Google Ventures (GV). The company produces first-person sports games that use “real-time player data.” Its game NFL Pro Era works on ...
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Tiger Woods unveils Sun Day Red apparel brand
After years of collaboration with Nike, Tiger Woods presents his new apparel brand.
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European market remains strong for Under Armour
Despite some recent “cooling” with consumers in Eastern Europe and concerns over Red Sea shipping disruptions, Under Armour is pleased with the trajectory of its business in Europe. In the product area, the brand is seeing sales traction from its Meridian products for women; its Curry 11 products; and its ...
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Mizuno posts strong nine-month results, lifts FY outlook
Bolstered by record revenues and net income for the nine months ended Dec. 31, Mizuno Corp. raised its annual operating profit and net income outlooks while maintaining its annual revenue forecast at 225,000 million Japanese yen (€1.41bn). The group raised its full-year operating profit by 13.6 percent to ¥16,500 million ...
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Asics eyes modest FY24 growth, but flat sales in Europe
After reporting a 59 percent gain in FY23 operating income to ¥59,215 million (€337.8m) and 17.7 percent increase in total annual revenues to ¥570,463 million (€3.55b), Asics Corp. detailed its FY24 outlook. The Japanese group, which wants to achieve a consolidated operating income ratio of approximately 12.0 percent in FY26, ...
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North-South gap persists in sports participation in Italy, says new report
Physically inactive people in Italy, who neither play sports nor participate in physical activity in their spare time, were 39.1 percent of the population in 2022, up from 34.8 percent in 2021, according to a new report titled “Gli Italiani e lo Sport” (tr.: “Italians and Sports”). Physical inactivity rates ...
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Alpargatas’ write-offs impact Q4 Ebitda, adjusted gross margins
Write-offs of 64 million Brazilian reais (€12.0m) in raw materials and finished goods affected Q4 adjusted Ebidta at Alpargatas. The Brazilian footwear group ramped up its capital discipline in the latter months of 2023 because of a “significant reduction” in sell-ins, itself due to high levels of inventory at retail. ...
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GoPro’s retail strategy ahead of plan despite Q4, FY losses
GoPro is increasing its retail presence and product range while ramping up its brand exposure at global sporting events, despite reporting Q4 and FY 2023 operating losses and declines in revenues. Ten months since launching a multi-year growth strategy, the group says it can count on some wins despite the ...