Latest Headlines – Page 45
-
ArticleAmazon posts 9% sales increase in Q1
Amazon.com, Inc. posted net sales of $127.4 billion in the first quarter of 2023, representing a 9 percent increase versus the first quarter 2022.
-
ArticleStormberg and XXL enter into a strategic partnership
Sports chain XXL is to buy into the Norwegian clothing, shoes and hiking equipment company Stormberg. Under the agreement, XXL will be an exclusive partner for Stormberg. The collaboration is part of XXL’s strategy to strengthen its investment in its own brands.
-
ArticleUnder Armour’s new CEO establishes strategy as latest earnings announced
Coming out of FY23 where sales and profitability increased but gross margin slipped due mostly to currency impact and the promotional environment in its home U.S. market, Under Armour is charging forward under new CEO Stephanie Linnartz with its new “Protect This House 3” objectives.
-
ArticleAlpargatas looks to boost efficiency, seeks new CEO as sales and margins decrease in Q1
Alpargatas reported a decline in sales volumes, revenues and margins in the first quarter of 2023, as it focuses on boosting operational efficiencies amid a “challenging” demand scenario and persistent inflation. The Brazilian owner of the flip-flop sandal brand Havaianas is also looking for a new CEO following the resignation ...
-
ArticleJD Sports Fashion proposes acquisition of Courir
JD Sports Fashion Plc has announced a proposed acquisition of the French-based athletic footwear chain, Courir.
-
ArticleMarketing report on sustainability: “Companies need to be braver”
Marketing professionals want bolder decisions when it comes to their companies’ sustainability strategies, according to a new global marketing study.
-
ArticleAcushnet Holdings posts solid results in seasonally strong quarter
Acushnet Holdings, the parent of the Titleist, FootJoy, and KJUS brands, produced a 15.2 percent increase in Q1 net income to $93.3 million versus $81.0 million in the year-ago period ended March 31. Total revenues, benefitting from new product introductions for another golf season and enhanced supply chain and customization ...
-
ArticleMoncler Q1 revenues driven by DTC; new CEO for Stone Island
The DTC channel paced Q1 sales growth for the Moncler Group, rising by 34 percent on a constant-currency basis to €501.5 million for the Moncler brand and 40 percent to €39.1 million for the Stone Island business, which will have a new CEO in Robert Triefus on June 1. ...
-
ArticleAdidas begins "bumpy year" with flat revenues, big operating income decline
After working aggressively and diligently in his first 90 days on the job to simplify and accelerate processes at Adidas, CEO Bjorn Gulden is straightforward when offering a brand assessment for the company in both the short and long term. “Adidas has all the ingredients to be the best ...
-
ArticlePeloton makes more strides, prepares app and brand relaunch
Further positive developments at Peloton Interactive, including a 64 percent reduction in the Q3 net loss and a 5 percent gain in connected fitness subscriptions, are dimmed by a $75 million settlement and patent license agreement with DISH Technologies that will negatively impact Q4 cash flow. The connected fitness ...
-
ArticleBrooks Running with 20% sales growth in Q1
After a record 2022, Brooks Running carried the momentum into the first quarter of 2023, reporting 20 percent year-over-year sales growth globally, including a record 32-percent increase in the Europe, Middle East and Africa (EMEA) region. In the first quarter, Brooks saw strong brand demand across all retail channels as ...
-
ArticleReebok e-com in Europe run by Farfetch, luxury sector expansion underway
Farfetch, a leading platform provider for the luxury fashion industry, has announced that the partnership with Reebok to run its European e-commerce sites, announced following the sports retailer’s acquisition by Authentic Brands Group from Adidas in 2022, has now been implemented. The partnership announced at the time involves restructuring the ...
-
ArticleGarmin with losses in EMEA and gains in Americas, sticks to FY outlook
Garmin, which generated an 85 percent increase in Q1 free cash flow to nearly $232.4 million and paid a quarterly dividend approaching $140 million, is standing by its FY23 financial guidance that calls for approximate revenues of $5.0 billion and pro forma EPS of $5.15 a share. In Q1, ...
-
ArticleLong-term growth outlook for Champion is solid despite current challenges
Hanesbrands, the Champion parent, is excited about the long-term outlook for the activewear brand despite current brand challenges in the U.S. and China. Besides facing lower sell-in shipments in China in Q1, Champion’s business was negatively impacted in its home U.S. market by a slowdown in consumer spending and high ...
-
ArticleVulcabras posts strong Q1 results
Despite unstable macroeconomic conditions and a challenging retail environment, the Brazilian Vulcabras group reported record revenues and strong gross margin and Ebit growth in Q1, which ended March 31. Ebit rose by 45 percent to 93.2 million Brazilian reais (€16.7m) as the year-over-year gross margin grew by 430 basis points ...
-
ArticleAdidas hit with shareholder lawsuit over Kanye West relationship
The proposed class action suit, filed in U.S. federal court in Oregon on April 28, names Adidas AG, the company’s former CEO Kasper Rorsted, and current CFO Harm Ohlmeyer as defendants. The 26-page complaint, filed on behalf of Adidas investor HRSA-ILA Funds and other shareholders, accuses the company of ignoring ...
-
ArticleSprinter, Deporvillage hope to open new chapter with new store
Sprinter has opened a big store – on the former premises of an IKEA – that it hopes will serve as a watershed, separating its past from its future, according to Diffusion Sport and other sources in Spain. Located at the Alcora Plaza de Alcorcón shopping center in Madrid, the ...
-
ArticleSkechers raises full-year guidance after strong Q1, but braces for domestic wholesale headwinds
Skechers raised its guidance for earnings and revenues for the full year after reporting better-than-expected results in the first quarter, when its top line rose by a reported 10.0 percent compared to the year earlier to reach a new record for the period of $2,001.9 million, coming in above an ...
-
ArticleColumbia’s Q1 revenues bolstered by early spring shipments, DTC channel
While Columbia Sportswear generated both lower gross and operating margins in Q1, the company was able to report 10 percent constant-currency revenue growth to $820.6 million thanks to early shipments of Spring 2023 wholesale orders and a reported 4 percent increase in direct-to-consumer sales to $368.1 million. “2023 is off ...
-
ArticleRecord year for Groupe Rossignol
After a strong upswing in fiscal 2021/2022 with sales of €313 million, Groupe Rossignol reported exceedingly strong growth of 28 percent and sales of €401 million for fiscal 2022/2023, which ended March 31, 2023. Established 116 years ago in the French Alps, Groupe Rossignol is now known and respected worldwide ...
