Latest Headlines – Page 36
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ArticleFreight rates are falling but so are orders
Freight rates for sea freight containers from the Far East have fallen to a stable low level, but retailers are placing fewer orders with their suppliers than in the previous year. This is according to supply chain experts at Setlog, a software company based in Bochum, Germany, who carried out ...
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ArticleNautilus narrows Q1 operating loss despite lower sales
The fitness company Nautilus, which sold off its namesake brand trademark and related assets earlier this year for about $13 million, posted numerous improved financial metrics in Q1 but still reported lower sales and a net loss for the period. In doing so, Nautilus, which retains the BowFlex brand, confirmed ...
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ArticleActivist investor wants changes at Hanesbrands
Barington Capital Group, a New York hedge fund manager, fired off a five-page letter to Hanesbrands’ Chairman Ronald L. Nelson on Aug. 7 demanding significant changes at the apparel firm and parent of Champion. The activist investor, led by James Mitarotonda, wants the underwear and activewear company to create long-term ...
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ArticleTopgolf Callaway maintains FY guidance, Q2 net up 11 percent
Topgolf Callaway’s Q2 results are on-track to reaffirm the groups full year 2023 revenue. President and CEO Chip Brewer has said in a statement he is “Particularly pleased with market share gains in Golf Equipment and the continued strength of Topgolf’s venue business.” Net income and US sales up Net ...
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ArticleFirst figures out as Under Armour commences its transition year
Under Armour, which sees its next FY as the start of growth phase for the company, commenced FY24 by exceeding Wall Street’s revenue and EPS guidance estimates. The international segment, including the EMEA, and DTC channels paced the results. Under Armour “very focused on profitability” Operating income slipped by ...
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ArticleAsics raises FY outlook as H1 operating profit soars
Suggesting its annual sales are likely to reach a record high, helped by contributions from its core Performance Sports, Sportstyle and Onitsuka Tiger segments, Asics Corp. has raised its FY23 outlook. Annual operating income is now pegged at ¥46,000 million (€308.2m), up 24 percent from a February forecast of ¥37,000. ...
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ArticleJD Group to be sole owner of MIG
JD Sports Fashion Plc has announced that it has exercised its rights under a call option and entered into a conditional agreement to acquire the outstanding 40 percent minority stake of Marketing Investment Group S.A. (MIG) from its minority shareholders. The JD Group will now become the 100 percent sole ...
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ArticleMizuno generates record Q1 operating profit
A recovery from year-ago supply chain disruptions coupled with strong sales growth outside Japan contributed to record Q1 operating income for Mizuno. Total revenues, bolstered by strong gains in golf, baseball, and soccer, rose by 24 percent to ¥57.2 billion (€383.2m) from ¥46.2 billion for the period ended June 30. ...
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ArticleFirst supplier list for Pakistan Accord signatories announced
The first list of suppliers covered under the Pakistan Accord has been published. The list, comprising over 400 factories, provides an overview of the names, addresses, production processes, number of workers, and the number of signatory brands sourcing from each factory.
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ArticleGolf participation keeps growing worldwide
Participation in the game of golf continues to climb worldwide. According to a new report that has been released by The R&A, and produced by Sporting Insights, ten million extra adults have taken up the sport since 2016. There are now 39.6 million on-course golfers (9 and 18 hole) in ...
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ArticlePentland Brands to simplify business structure
Changes are underway at Pentland Brands, as the U.K. parent of a portfolio that includes Speedo, Ellesse, and Mitre among others, is reportedly restructuring the organization. Over the next six months, a program of simplification is expected to include: Re-focusing efforts on digital innovation and consumer engagement; moving Speedo’s global ...
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ArticleXponential Fitness operating income ticks up 1 percent in Q2
The global franchisor of boutique fitness brands, which signed a master franchise agreement for France during the period, reported a 1 percent increase in Q2 operating income to $36.5 million from $36.1 million. Net income attributable to Xponential Fitness rose by 9.2 percent to $18.4 million on 30 percent revenue ...
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ArticleNFL legend Tom Brady invests in British football club
American football legend, seven-time Super Bowl champion and entrepreneur Tom Brady has partnered with Knighthead Capital Management LLC to become a minority owner of Birmingham City Ltd. Brady will become chairman of the new advisory board and work directly with the board and members of the Birmingham City Football Club ...
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ArticleAlpargatas still plagued by inefficiencies, high inventory levels
The Brazilian parent of flip-flop sandal brand Havaianas and the Rothy footwear brand continues to be challenged by high inventory levels in the South American market and inefficiencies in its overall operation that are impacting sales, margins, and profitability. Alpargatas reported a 53.1 million Brazilian reais (€9.9m) consolidated net ...
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ArticleNike to open network of boutique fitness studios in the U.S.
Nike is beginning to open a network of boutique gyms in the U.S. under the Nike Studios banner in partnership with FitLab, a fitness and sports lifestyle company that offers digital and gym experiences. The studios will be open to anyone over the age of 18. The move comes after ...
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ArticleChina demand boosts Canada Goose Q1, but warns of slower Q2
Strong post-Covid pandemic demand from China for parkas has helped Canada Goose beat revenue estimates for its first quarter, but the company warned of below-estimate sales in the current three months due to softer demand amid a tougher US economic backdrop. Continued momentum in Asia Revenue from its Asia-Pacific segment ...
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ArticleGoPro captures momentum with entry-level cameras; reports Q2 loss
New market strategies began to take hold in Q2 as revenues for the period clicked 9.5 percent higher, above expectations, to $241 million. Nonetheless, GoPro reported an operating loss of $22.5 million against an operating profit of $4.7 million for the period ended June 30. Gross margin came in at ...
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ArticleAdidas’ bumpy year showing some signs of smoothing out
While still facing hurdles in its recovery and path to profitability in 2025, Adidas began to show some positive developments in Q2 that included improved sell-throughs for some products and a €400 million boost from the sale of surplus Yeezy shoes that will reduce the group’s expected FY23 loss. ...
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ArticleAcushnet paced by U.S., ball sales in Q2
Acushnet’s operating income increased by 20 percent to $106.5 million from $88.5 million in Q2 as the Titleist, FootJoy, and Kjus parent achieved 4.7 percent revenue growth to $689.4 million from $658.6 million for the period ended June 30. Net income was 12.3 percent at $74.7 million versus $66.5 million ...
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ArticleWFSGI announces leadership change
After 16 years, Robbert De Kock, President and Chief Executive Officer of the World Federation of the Sporting Goods Industry (WFSGI), has decided to pass the baton to a new leader. The WFSGI Board of Directors appointed Emma (Mason) Zwiebler as interim CEO, effective Nov. 1, 2023. Source: ...
