Latest Headlines – Page 122
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Little harm for Fischer from Ukrainian plant fire
In its first statement since a fire broke out at its Ukrainian joint venture factory in Mukachevo during the night of Oct. 11 to 12, Fischer Sports said it is immediately relocating some of its ski production to its own Austrian plant in Ried. By adding labor shifts at both ...
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ArticleCalls for online marketplaces to proactively prevent the sale of fakes
The European Federation of the Sporting Goods Industry (Fesi) is urging the operators of internet platforms to undertake “due diligence obligations for preventive and proactive measures” to fight against the sale of illegal products online, while expressing strong support for the efforts being made by the European Commission to obtain ...
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Generally positive results for the Chinese sports brands
Chinese companies don’t publish detailed quarterly results, but all the four major public sporting goods companies except 361 Degrees had something positive to say in their preliminary operational updates for the third quarter of 2000, confirming the Chinese industry’s recovery from the coronavirus pandemic. Li Ning Company reported an improvement ...
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ArticleUnder Armour is centralizing and digitalizing its European operations
Under Armour has decided against reopening its physical sales offices in Paris, Munich, Manchester and Barcelona, preferring instead to coordinate in-person and remote selling functions in the respective markets from a new, “futuristic” Digital Hub at its European headquarters in Amsterdam. The regional offices had been temporarily closed in the ...
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GfK: Contrasting consumer sentiment across Europe
The second wave of the Covid-19 is beginning to stifle the previously expected recovery of the European economy, particularly for the consumption of non-essential products and services. Fortunately, it has not yet led to the retail lockdowns of the first wave in the spring – except in Wales and the ...
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VF wants to be more agile and digital
After releasing VF Corporation’s figures for the second quarter ended on Sept. 30, the group’s management said it felt that the worst of the Covid-19 crisis is over by now, but pointed out that the crisis will be prolonged, that the situation is going to be “volatile,” and that the ...
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Stella continued to struggle in Q3
In a business update for the third quarter, Stella International said shipment volumes declined by 23.6 percent from the year-ago quarter to 12.3 million pairs, while its total sales plunged by 23.3 percent to $344.5 million, including those of its in-house brands. The Chinese footwear company’s revenues from manufacturing improved ...
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Amazon enjoys a record-breaking Prime Day
Third-party sellers on the Amazon Marketplace generated sales of more than $3.5 billion during the company’s recent Prime Day promotions on behalf of small and medium-sized businesses. This represents an increase of nearly 60 percent from last year’s promotion, outstripping the growth in Amazon’s own sales. Prime Day took place ...
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Icon sues Peloton
After a steady climb over the last six months, Peloton Interactive’s share price took a small hit on the stock exchange after the news yesterday that Icon Health & Fitness had filed a patent infringement suit against it in A federal court in Delaware. At $37.77 billion, Peloton’s market capitalization ...
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ArticleVF goes back into the black
After recording a loss and steep declines in revenues during its first fiscal quarter, VF Corp. bounced back in the second quarter, ended on Sept. 26, with a smaller decline in sales and a return to profits. The management said that year-to-date results have surpassed its expectations across all brands, ...
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Some physical trade shows are cancelled or reinvented
Replicating what has already happened with many summer shows, the organizers of various exhibitions and their clients are rethinking their programs for the next few weeks and months in reaction to an unexpectedly virulent second wave of the coronavirus pandemic in many parts of the world. The Eurobike Special show ...
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Boardriders’ recapitalization runs into rough waters
A recent new debt offering of $155 million issued by Boardriders to Oaktree Capital Management and other lenders is being challenged by a group of previous lenders who see their rights subordinated in the new deal, which establishes collateral rights for them with regard to their previous debt of around ...
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Facebook helps in Elho’s rebirth
After an absence of two decades, the Elho brand of skiwear is marking a much remarked upon comeback with a 1989 Heritage Collection, in time for sale through its own website for the imminent autumn/winter season, although its delivery to customers has yet to start. The limited edition ...
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ArticleAsos will focus more on activewear
Asos, the international U.K.-based fashion e-tailer, said it will expand its activewear offering as locked-down clients spurned party outfits in favor of sportswear and exercise gear during the Covid-19 pandemic. Asos said that a focus on curating and presenting “the best edit of sports lifestyle and activewear product … from ...
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WFSGI’s monthly Covid-19 survey shows rising pessimism
The World Federation of the Sporting Goods Industry (WFSGI) has released the results of the September edition of its WFSGI Covid-19 Impact Survey, a monthly report conducted among manufacturers as well as retailers and brands across the sporting goods sector to explore the effects of the pandemic on their businesses. ...
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Reorganizing the top management, VF names Steve Murray president of TNF
VF Corporation is changing its management structure to suit changes in the way it does business, notably by dividing its brand portfolio into Core Brands and Emerging Brands and by getting them to be managed differently to help them achieve their full potential. Until now, the operations of its three ...
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Babolat hopes to capitalize on the recovery of racquet sports
Like some other outdoor sports, tennis has enjoyed a recovery from the effects of the Covid-19 pandemic of this past spring, as players can easily respect social distancing rules in the tennis courts. In the first half of this year, Babolat, the world leader for tennis racquets, came 20 percent ...
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EU agrees on common rules for pandemic-related travel restrictions
The European Council has adopted a recommendation on a coordinated approach to travel restrictions in response to the Covid-19 pandemic. The council comprises the heads of state or government of the countries forming the European Union, as well as the president of the council and of the European Commission. ...
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Global talks on a digital tax prolonged to 2021
The 137 countries involved in talks on base erosion and profit shifting (BEPS) due to the digitalization of the economy have agreed to keep working toward an agreement on the taxation of digital companies by mid-2021, thus acknowledging that they will fail to strike a deal by the end of ...
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eBay to certify sneakers, like StockX and others
Joining the likes of StockX, the online resale exchange for sneakers and streetwear, eBay will be testing all new and used sneakers sold on its platform in the U.S for $100 or more from this month onward to ensure that they are genuine. Those that pass will receive its Authenticity ...
