Latest Headlines – Page 87
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ArticleExperts discuss textile recycling options at a meeting hosted by Lycra
In a second global panel discussion hosted by The Lycra Company, 28 industry experts evaluated the pros and cons of mechanical recycling versus chemical recycling and what is needed to make garment recycling a commercially viable reality. The panelists agreed that chemical recycling is a more promising technology than mechanical ...
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ArticlePraising Allbirds, WSGN warns against greenwashing
With consumers demanding more sustainable and equitable products and being increasingly aware of corporate greenwashing, footwear brands must be authentic in marketing sustainable goods, or else their communication strategy may backfire, WGSN warned during a couple of webinars organized by the Italian trade fair Expo Riva Schuh. Greenwashing can be ...
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ArticleABG sees Reebok reaching $10 bn at retail
Jamie Salter, CEO of the Authentic Brands Group (ABG), told Footwear News that he sees Reebok growing by more than 20 percent in 2022, generating more than $5 billion worth of sales at the retail level. He added that ABG’s goal is to take the brand’s retail sales up to ...
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Lululemon countersues Peloton over its activewear
Lululemon Athletica launched its threatened lawsuit against Peloton Interactive over the latter’s new activewear line in the federal court for Central California on Nov. 29. Lululemon had sent a cease-and-desist letter to Peloton on Nov. 11, claiming potential infringement of six design patents by five items in the latter’s collection. ...
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ArticleShoes will be sportier and more expensive
The market for sports-related shoes will continue to gain market share from other types of footwear over the next three years, according to 75 percent of the respondents to a survey organized by World Footwear in collaboration with Shoe Intelligence. The ratio rises to 77 percent when it comes to ...
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Snowleader moves into larger premises
Snowleader, a leading online retailer of outdoor and snow sports products based in the Savoy region of France, has moved to a larger, eco-friendly office of 3,000 square meters at Epargny, near Annecy, while inaugurating a new and bigger automated warehouse at a different site further away at Versoud. The ...
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ArticleAnalysis: The world’s major sports retailers
This exclusive, yearly statistic shows the revenue development of the 50 largest sports retailers.
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ArticleCancelled functional fabrics show in Munich goes virtual again
The physical edition of Performance Days – initially planned for Dec. 1 and 2 – had to be cancelled at short notice due to the current sharp rise in Covid infections in Munich. Like already in May, the winter edition of the show will be moved entirely into the digital ...
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Ski resorts are opening in Russia, but many will not go there
The first ski resorts in Russia have opened in the Kemerovo and Khabarovsk Krai regions, marking the beginning of the early winter season. Around this time a year ago, the Russian market experienced a substantial rise in demand for winter sporting goods equipment, as many Russian skiers were prevented from ...
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Alpine ski facilities are not being closed, but Germany may follow Austria’s lockdown
Europe has become the epicenter of the new wave of the coronavirus pandemic, registering 67 percent of the new cases of infection around the world. The situation is particularly tense in Central Europe, but in contrast with a year ago, health authorities are generally excluding snow sports from the range ...
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Shelving IPO plans, ABG brings in two new investors
Placing on hold its plans to go public, as previously announced in July, the Authentic Brands Group (ABG) has decided to stay private. Instead of going for an IPO at this stage, some existing shareholders will sell significant stakes in ABG to funds advised by the private equity company CVC ...
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Hervis wins award for its online consulting solution
Hervis Sport, the big integrated Austrian sports retail chain, was presented with the Retail Innovation Award 2021 in the “Best Online Solution” category by the Austrian Trade Association on the occasion of Tech Day on Nov. 18, 2021 in Vienna. The jury was particularly impressed by its newly created option ...
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Foot Locker grew by 3.9% in Q3
Foot Locker reported net income of $158 million for the 13-week period ended Oct. 30, after extraordinary charges of $57 million. Excluding one-time items, the adjusted net income increased by 57 percent to $201 million. The net results compare with $265 million in the year-ago period and $125 million in ...
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ArticleAustria imposes a general lockdown, Germany approves a new infection protection act
Without waiting for the end of a previously imposed confinement for the unvaccinated, which started on Nov. 15, the Austrian government decided that everybody will go into a general, nationwide lockdown for a maximum of 20 days on Monday, Nov. 22, and that it will be extended for unvaccinated people ...
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China’s Topsports improves margins on slightly lower sales
Topsports International Holdings, the leading Chinese sports distributor and retailer spun off by Belle International in 2019, reported a decline of 1.2 percent in total revenues to 15.57 billion renmimbi (€2,128m-$2,407m) for the first half of its financial year, ended Aug. 31. The gross margin improved by 2.9 percentage points ...
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Alibaba cuts guidance after a Q2 profit and sales miss
The Alibaba Group cut its guidance for its full financial year after revenues and earnings came in below expectations in its second quarter ended Sept. 30, amid a slowdown in economic growth in China and an ongoing regulatory crackdown on tech companies in the country. Alibaba now expects revenues to ...
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Yonex raises guidance as Q2 sales grow by 34%, driven by China
Yonex enjoyed a sales increase of 34 percent to 16.6 billion yen (€143.2m-$169.1m) in its second quarter, ended Sept. 30, leading the Japanese company to nearly double its net income to ¥2,396 million (€18.4m-$21.8m). The gross margin expanded by 3.5 percentage points to 46.7 percent. Sales grew in Japan by ...
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Strong recovery in personal luxury may affect our sector
The personal luxury market has been traditionally subject to bigger swings than the sporting goods market in their competition for the consumer’s spending, and its recovery this year may impact the recovery of the sporting goods market, especially in the overalapping areas of sneakers and athleisure, in our opinion. The ...
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ArticleOutdoor outperformed the athletic and casual footwear market in 2020, but…
It all depends on the brands that we include in three annual surveys that EDM Publications puts out every year for these three segments of the shoe market, some of which play in two different segments.
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ArticleIndebted ManUnited to issue shares to its fans
Manchester United fired Ole Gunnar Solskjaer, the Norwegian team manager hired three years ago, after the English football club lost 4-1 against Watford on Saturday Nov. 20, its fifth defeat in the first seven matches of this season’s Premier League. The dismal score, which is infuriating the club’s fans, will ...
