Latest Headlines – Page 52
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Forget the big game. The biggest competition is in the commercial breaks
Brands, including one of the global leaders in footwear, are paying big bucks for a coveted ad slot at the Super Bowl, but is it worth it?
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Alpargatas' Q4 reflects inflation eroding purchasing power
Alpargatas, the Brazilian owner of the flip-flop sandal brand Havaianas, reported a decline in sales volumes and a bottom-line loss in the fourth quarter of 2022, rounding out a year that fell short of management expectations as inflation cut into households’ disposable income.
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Athletes and POW join forces to call for greater climate action from the FIS
FIS athletes and POW demand change from the FIS. An open letter is signed by over 170 athletes.
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Nautilus sees lower retail order trend continuing
The fitness company, which has reduced its workforce by 15 percent and is lowering its annual expenses by $30 million, expects lower levels of retail re-orders that hampered Q3 revenues to continue through the first half of 2023.
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Thule continues to suffer from slumping bike product sales in Q4
Thule Group has reported a sharp decline in sales for the fourth quarter of 2022, as a slump in bike products begun in the third quarter continued. The Swedish company explains that retailers sought to reduce inventories in the product category in the second half of the year after “excessively ...
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Topgolf Callaway lifts forecasts as venues offset weaker golf gear sales
Topgolf Callaway reported a rise in fourth-quarter revenues and pushed annual earnings forecasts higher after a strong performance from its driving ranges looked set to help cushion weaker demand for golf equipment this year.
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PPA reviewing legal options against WPT
The Professional Padel Association (PPA) is none too happy over the plans of the World Padel Tour (WPT) for the current year. The union has released a nine-point statement alleging breach of player contracts and describing the tour’s “unilateral” decisions as being “of a gravity without comparison, not only in ...
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Hanesbrands shifts capital allocation strategy, shares plunge
Hanesbrands, the Champion parent, faced with numerous near-term challenges that are not expected to wane during H1, has lowered its guidance and eliminated its quarterly dividend, as it aims to accelerate debt reduction and shore up its balance sheet.
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Asics posts double-digit sales gains in all regions in FY22
Asics Corp., bolstered by 24 percent annual revenue growth in its vital performance running business, reported significant improvements in revenues, operating income and net profit in its fiscal year ended Dec. 31.
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Thule announces change in CEO and president position
After an expected difficult 2022, the Thule Group AB has appointed Mattias Ankarberg (who has been a member of the board of the Thule Group since 2018) as its new president and CEO. Ankarberg joins Thule from his current position as CEO of Byggmax Group. His former roles include global ...
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Adidas braces for a hard year ahead after a difficult 2022
In a press release on Feb. 9, Adidas warn of considerably lower revenues in 2023. If Adidas decides not to repurpose Yeezy prduct, 2023 could see an operating loss as low as €700 million.
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XXL ASA exiting Austria, raising new equity
The Scandinavian retail operator, facing historically low consumer confidence and lower demand for sporting goods in its markets, is taking major actions to improve its balance sheet.
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Yonex hikes FY outlook on improving overseas trends
Yonex, which only three months ago warned of tougher business conditions on the horizon, has lifted its full-year outlook, citing “a recovery in demand, particularly overseas.” The Japanese company, which has baked higher raw-material costs and currency impact into its forecast, is now anticipating annual revenues of 106,000 million yen ...
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Global Sports Survey: Women’s sports and media rights will drive industry growth
More than 75 percent of sports executives believe that women’s sports revenues will increase by over 15% in the next three to five years
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Under Armour reports improved results, EMEA shines
With new President and CEO Stephanie Linnartz slated to begin her Under Armour career at month’s end, the company reported stronger third-quarter results for the period ended Dec. 31. Operating income increased by 9.9 percent to $94.7 million from $86.1 million as Ebit expanded by 37 percent to $140.4 million. ...
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Signa Sports United braces for slow first half
Signa Sports United calls the current headwinds it’s facing transitory and believes they should begin to subside in the second half of FY23
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Mizuno lands improved results, record Q3 revenues
Mizuno, fueled by growth in its golf business and an improved business climate in Japan, has reported an implied 21 percent increase in third-quarter revenues to a record 48.2 billion yen (€332.6m) for the three months ended Dec. 31. Operating profit declined 16 percent to ¥2.1 billion (€14.5m) from ¥2.5 ...
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Starvie and Asics join forces, comment on pádel
As the Spanish press reports, racquet manufacturer Starvie has struck a sponsorship deal with Asics for its roster of professional pádel players, who as of this month will be competing in the Japanese brand’s apparel and shoes. Among these players are Bea González, Coki Nieto and Javi Garrido. Quoted in ...
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VF Corp. takes action to improve performance, divesting pack brands
VF Corp. is vowing to take all necessary actions to improve its operating performance heading into its FY24
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Descente nine-month operating income jumps
Descente’s total sales increased by 12 percent to 86,099 million yen (€619.9m) in the nine-month period ended Dec. 31, 2022, leading to a 67 percent jump in operating profit to ¥7,300 million (€50.4m) versus ¥4,380 million. The net profit rose by 106 percent to ¥10,172 million (€70.2m). Besides its ...