Latest Headlines – Page 46
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ArticleFirst Intersport flagships open in Germany
Engelhorn Sports in Mannheim, L&T in Osnabrück and Sport Reischmann in Kempten and Ravensburg are the first four German sports retailers to operate under the new Intersport flagship concept, for which a new Intersport logo in an exclusive color scheme was created. With the new concept, Intersport Germany says it ...
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ArticleCrocs raises FY revenue outlook, banking on markets outside U.S. to pace growth
Markets outside the U.S. are forecast to generate Crocs’ highest FY23 revenue growth rates and help the group deliver 11 to 14 percent reported sales expansion this fiscal year to a range of $3.95 to $4.05 billion. Crocs brand sales are projected to increase by 7 to 9 percent with ...
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ArticleNew Wave posts double-digit sales gains in all sports & leisure regions
New Wave Group, which boasts 13 brands in its sports & leisure unit, reported a 35 percent increase in Q1 operating profit to 128.0 million Swedish kronor (€11.4m) for the period ended March 31. Segment sales increased by 23 percent to SEK 917.4 million (€81.9m) from SEK 746.6 million. Regionally, ...
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ArticleHDE calls on EU to take more cues from German supply chain law
On the occasion of the European Parliament’s Legal Affairs Committee voting in favor of the current compromise text on the EU Supply Chain Act (Corporate Sustainabilitiy Due Diligence Directive), the German Retail Association (Handelsverband Deutschland, HDE) has raised the alarm that the proposed supply chain regulation will overburden small and ...
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ArticleKlarna launches resale function and more to mark 18th anniversary
Payment and shopping service provider Klarna has unveiled a number of new innovations on the occasion of its 18th anniversary. The new products include the new Klarna app and smart shopping features that help consumers find and resell the perfect items. With the Klarna app’s new AI-driven shopping feed, consumers ...
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ArticleXXL sees 6% sales boost in Q1 as market share rises but margins squeezed
XXL ASA generated revenues of 1,984 million Norwegian kroner (€168.8m) from continuing operations in the first quarter of 2023, up by 6.4 percent compared to the year earlier, as heavy discounts allowed the company to post sales growth and gain market share but squeezed profit margins. Like-for-like sales growth stood ...
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ArticleCanada Goose with five new executives to drive strategic growth plan
Canada Goose announced five new appointments to its leadership team, all effective immediately, aligned to its recently unveiled five-year strategic growth plan. The Canadian company appointed Matt Blonder as the brand’s first-ever chief digital officer; Juliette Streichenberger as president of CGAG and Europe, the Middle East and Africa (EMEA); Ana ...
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ArticleNet zero deadline shifted in Crocs’ 2022 Comfort Report
Crocs has published its latest ESG report, the 2022 Comfort Report, to highlight its progress in becoming a more sustainable and equitable company. Most noticeably, the document contains a key revision to Crocs’ targets. Crocs originally announced in 2021 that it planned to become net zero by 2030. However, this ...
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ArticlePuma maintains FY23 outlook despite margin, profitability pressures
Strong growth in Greater China and the direct-to-consumer channel were key contributors to Puma’s 14.4 percent revenue growth to €2,187.7 million from €1,912.2 million in Q1, but the group suffered a 70-basis point drop in gross margin to 46.5 percent on impacts from the higher promotional activity and sourcing and ...
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ArticleAdidas wants to win back China with "patriotic products"
A few years ago, China was a promising market for Adidas because the country’s middle class was growing and the margins for Adidas were particularly strong. The brand with the three stripes was one of the most popular Western brands in China. As early as 2008, Adidas opened its (then) ...
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ArticleAuthentic Brands announces next acquisition
In another acquisition move, Authentic Brands Group (ABG), a global brand development, marketing and entertainment platform that owns more than 40 lifestyle, entertainment and media brands, including Reebok, Eddie Bauer, and Spyder, announced on April 24 that it has entered into a definitive agreement with Vince Holding Corp. (VNCE) to ...
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ArticleDyStar shuts down German plant
Singapore-based specialty chemicals company DyStar has announced plans to “restructure” its plant in Ludwigshafen, Germany, in response to changing business conditions and market changes. The plant, inherited from the company’s founders, who started indigo research and production more than 125 years ago, has been an integral part of DyStar’s global ...
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ArticleGymshark FY results impacted by discounting, restructuring costs
U.K.-based sportswear company Gymshark realized a 38 percent decline in annual profit to £22,529,000 (€25.5m) versus £36,497,000 for the FY ended July 31, 2022. Ebit slid by 39 percent to £27,837,000 (€31.5m), and annual operating profit was down by 37 percent to £29,561,000. The company generated lower profitability despite ...
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Article10 years since the Rana Plaza tragedy: Has anything changed?
The apparel industry in Bangladesh employs 4 million garment workers. 10 years on from the Rana Plaza disaster, have conditions improved?
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ArticleAdidas announces 96% of polyester used is now recycled
One day before Earth Day 2023, Adidas published a press release announcing a new “Personal Best” milestone in the brand’s journey towards replacing virgin polyester: 96 percent of all polyester used in Adidas products is now recycled polyester. The company said that the achievement of the ambition that Adidas first ...
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ArticleHanesBrands launches global sustainability pledge for its employees
HanesBrands Inc, the owner of Champion, has released its 2022 Sustainability Summary Report, highlighting significant achievements in the areas of People, Planet and Product, and in creating more sustainable products. “HanesBrands continues to build on our leadership position in sustainability by improving the lives of people, protecting ...
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ArticleEarth Day: For hippies, greenwashing, or a real opportunity for brands?
With many brands marking the occasion will Earth Day become just another gimmick? Our expert shares how brands can meaningfully take part.
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ArticleAmazon puts the moves on France
In the Pixar movie of the same name, a Provençal dish called ratatouille serves to save the soul of a crotchety old food critic in France. The stewed vegetables produce an epiphany, hitting the critic like the madeleine hit Proust, and transport him back “in search of lost time” or ...
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ArticleWhat are brands doing for Earth Day 2023?
For Earth Day 2023, businesses are being pitched as central to environmental efforts. We take a look at what our industry brands are doing.
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ArticleThis is Rentle, the Finnish pioneer in rental platforms now cooperating with Decathlon
Decathlon UK launched its rental service with Rentle in the spring of ’23. We explore the benefits of partnering with a rental platform specialist.
