Latest Retail News & Analysis – Page 112
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ArticleAdidas fell by 19% in Q1, sees Q2 down by over 40%
The Adidas Group reported today a sharp drop in profit margins on a 19.2 percent decline in sales for the first quarter, due to the coronavirus outbreak, but warned that the second quarter will be worse. With more of its store base still closed right now, the management is expecting ...
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Decathlon inks a deal with a major Russian marketplace
As it has already done with Kant, one of the major multi-brand sports retailers in Russia, Decathlon has embarked on an unusual cooperation with a major Russian e-tailer, Ozon, which is pushing its own marketplace. The highly verticalized French sports retailer has announced a contract with Ozon to sell 1,500 ...
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Some stores are re-opening in Germany
(Updated on April 23) After consultations with the state governors, German Chancellor Angela Merkel announced on April 15 that certain types of stores could open again from Monday April 20, after being shut down for five weeks. The retail lockdown for non-essential items was relaxed only for stores that have ...
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Adidas may forego government aid
The Adidas Group said ten days ago that the German government had approved in principle its request to contribute to a €3 billion syndicated revolving credit facility through its state-owned bank, KfW, to help the company weather the Covid-19 crisis. In return, Adidas would not pay dividends for the duration ...
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News briefs
Signa Sports United should break even
Despite the pandemic, Tennis-Point will be carrying on with its expansion plans in Spain for the year, albeit with a modified calendar. The German specialty retailer, which belongs to the Signa Sports United Group, has seen its sales of tennis products drop by about 70 percent in Spain, even with ...
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News briefs
Spanish sports retailer calls Spain’s rent forgiveness insufficient
CMDsport reports that the owner of Base Deportes Santa Gema, Francisco Torrejón, deems the Spanish government’s moratorium on rents “insufficient,” as it doubly excludes companies like his own. Decreed on April 21, the moratorium applies to independent workers and, more pertinently, to SMEs with no more than €6 million in ...
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News briefs
Alibaba to expand its cloud
According to Reuters, Alibaba Group Holding will be investing 200 billion yuan (€26.1bn-$28.3bn) over three years to bolster its data center and develop semiconductors and operating systems for its cloud-computing infrastructure. The Covid-19 pandemic has spurred demand for business software in China, and high data volumes occasioned by quarantines have ...
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News briefs
Decathlon sells fitness gear in supermarkets
Sporting goods stores are locked down in France and other countries, but supermarkets are not. While keeping warehouses open to service online orders in France and other countries, Decathlon has joined forces with Franprix, a French grocery store chain, in a test that can help people stay fit at home ...
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News briefs
Zoggs appoints distributor for German-speaking markets
Zoggs International has appointed a German firm, Arnold Sports, as its distributor for Germany, Austria, Switzerland and Luxembourg. These markets were previously handled directly by the brand of swimming goggles and swimwear out of its head office in the U.K. Due to uncertainties surrounding Brexit and its effects on ...
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Zalando promotes sports products
While providing preliminary figures for the first quarter, Zalando announced the launch of a campaign to inspire customers to stay active at home during the coronavirus pandemic. Deployed under the hashtag #TogetherIAmStrong, it is described as its first remotely produced campaign. The German e-tailer says it has taken this initiative ...
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News briefs
Adidas partners with Carbon to make face shields
As we reported at the time, Adidas began working in 2017 with an American 3D-printing start-up called Carbon to produce midsoles for the Futurecraft 4D model with a proprietary technique called Digital Light Synthesis (DLS). Now, to help with the Covid-19 pandemic, the two companies are using the same technique ...
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ArticleIntersport Sweden gets protection from creditors
We have already reported about the recent bankruptcy and rescue of Gresvig, the former parent company of Intersport in Norway, and the more recent legal proceedings to save the parent company of Karstadt Sports in Germany. It’s now the turn of Intersport Sweden to seek protection from its creditors through ...
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News briefs
Spanish retailers petition the government for rent relief
CMDsport reports that seven trade organizations – the Spanish Confederation of Commerce (CEC); the Spanish Association of Buying Groups (Anceco); the retail, service and restaurant associations Amicca, Comertia, Acotex and Eurelia; and the Spanish Federation of Home Appliance Merchants (Fece) – have submitted a formal letter to the Spanish government ...
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News briefs
Adidas’ Covid-19 auction raises over 100k
A 10-day auction launched by Adidas France and called “Athlètes et Solidaires” – which translates roughly to “Athletes Pitching In” – came to close on April 14, having raised a total of €107,730 for the Hospitals of Paris - Hospitals of France Foundation to help deal with the Covid-19 pandemic. ...
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ArticleAnalysis: What is happening with Covid-19 on the retail front?
The retail lockdown in Germany is estimated to have caused a drop of 60 percent at brick-and-mortar stores in the fashion sector in general in March, as compared to the same month a year ago, although they were open in the first few days of the month. The trend will ...
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News briefs
Joe Nimble opens shop in Copenhagen
One of our reporters was at the opening last month of the first Joe Nimble running store in Copenhagen. Since the shop is free-standing, not in a mall, it was open at the time. The German brand of functional footwear has launched a new running shoe, called Toes Addict, the ...
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Zalando issues a profit warning, offers to help stores
Zalando has warned that its first-quarter results will not meet market expectations because of the impact of Covid-19. Meanwhile, the company is offering to waive commissions for participation in its Connected Retail program to German and Dutch retailers until May 31. The company will also postpone its annual general meeting, ...
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German suppliers fear that government aid is insufficient
On April 6, the German government announced a package of additional financial aid for small and medium-sized companies with 11 to 250 employees. The government will assume 100 percent of the credit risk on loans of up to €800,000 without an assessment of the risks, depending on the size of ...
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Interesting anti-virus action online
Provided that they have sufficient staff at their warehouses, brands are still able to sell products online that cannot be sold by retailers whose stores are closed because of national coronavirus lockdowns. In a nice gesture of solidarity, brands like Ortovox and Leki in Germany are giving a portion of ...
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News briefs
Brooks offers support for retailers during crisis
Brooks Sports is offering to its retailer partners the option to send ordered products directly to their customers during the current coronavirus crisis, which has led to the closing of many stores worldwide. Retailers receive 100 percent of the price paid by the customers, and Brooks takes care of the ...
