More Headlines – Page 3
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ArticleZumiez sees improving trends, another loss in Q1
US retail group Zumiez, which operates 86 Blue Tomato doors across the EU, narrowed its Q1 operating loss and realized improving sales and merchandise margin trends. “Our Q1 results are a further indication that we are progressing towards positive comparable sales and improved profitability,” Zumiez CEO Rick Brooks said. ...
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ArticleIBA and IOC tangle over plan to pay out prize money to boxers
The International Boxing Association (IBA) says that it will be awarding a purse for every medal in boxing at the Paris Olympics. Half will go to the athlete, a quarter to the national federation, and a quarter to the boxer’s coach. The purse will be $100,000 for gold, $50,000 for ...
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ArticleGlobal golf equipment market to post 3% CAGR by 2028
The global golf equipment market size is projected to grow at a compound annual growth rate (CAGR) of nearly 3 percent during the 2024-2028 forecast period, according to a new report by research and advisory firm Technavio. The golf equipment market encompasses a wide range of products, including golf clubs, ...
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ArticleReynold Hoover named CEO of LA28
Source: LA28 The Organizing Committee of the Olympic and Paralympic Games Los Angeles 2028 has announced the appointment of US Army veteran Reynold Hoover as Chief Executive Officer. He will direct the Committee’s day-to-day work and report to Casey Wasserman, the LA28 Chairperson and President. Hoover will ...
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ArticleAuthentic and Beaumanoir announce partnership for Boardriders brands in Western Europe
Authentic Brands Group announced a long-term partnership with Beaumanoir Group, which will take over the former Boardriders business in France and license the Quiksilver, Roxy, Billabong, DC Shoes, Element, RVCA and VonZipper brands in key Western European regions, including France, Germany and the UK. Through the partnership, Beaumanoir, headquartered in ...
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ArticleLululemon business healthy; US dip caused by internal product, color issues
Lululemon delivered strong Q1 results and raised its FY guidance yesterday. But it also pointed out that recent problems in its US business were caused by its own mistakes, not by competitive pressures or market conditions. The Canadian group blamed missed opportunities in not having certain smaller sizes available for ...
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ArticleAuthentic Brands Group to acquire Champion from Hanesbrands
Hanesbrands’ decision to shed its flagging Champion business, alluded to for months, will come to fruition in the second half of its financial year. Authentic Brand Group has signed a binding agreement to purchase the Champion athletic wear business for up to $1.5 billion. The transaction, expected to close sometime ...
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ArticleFoot Locker to spend as much as $1 billion on stores
In line with the strategy laid out in March of last year, the “Lace Up Plan,” Foot Locker is looking to invest up to $1 billion in opening and renovating stores in a new format all over the world, according to Modaes and other sources. The first such store opened ...
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ArticleIOC might be losing a big sponsor
Toyota plans to end, or not renew, its sponsorship deal with the International Olympic Committee (IOC) once the Paris Games are over, according to Japan’s Kyodo News. The deal, worth some $835 million, is reportedly the IOC’s largest. Toyota is one of 15 companies in The Olympic Partner (TOP) program, ...
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ArticleXXL and Frasers Group forge strategic partnership
XXL and Frasers Group are on the brink of forging a strategic partnership aimed at bolstering XXL’s dominance in the Nordic region. Frasers Group, which holds significant stakes in retail leaders like Sports Direct and over 30 percent of XXL’s Class A shares, sees XXL as uniquely positioned to strengthen ...
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ArticleJD Sports bolsters North American presence, reports revenue growth ahead of Hibbett acquisition
JD Sports has reported a revenue increase of 8 percent in North America, reaching £3,413.5 million ($4,340.4 million) for the fiscal year ended February 3. This growth comes ahead of its planned $1.08 billion acquisition of Hibbett, Inc., expected to finalize in the second half of the year, which will ...
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ArticleFoot Locker reaffirms FY outlook as ‘Lace Up’ strategy begins gaining traction
Higher average unit prices, less promotional pricing, and an improved pipeline of new products from key vendor partners in the months ahead, including Nike, has Foot Locker confident that it will meet its FY24 financial objectives. The group, celebrating its 50th anniversary this year and preparing to make a big ...
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ArticleIndian TechnoSport raises 1.75bn rupees
Indian sportswear brand TechnoSport has raised 1.75 billion Indian rupees ( €19.32 million) from investment fund A91 Partners. The company plans to use the fresh capital to improve its production capacities, focus on digital brand development and strengthen its marketing activities. “With this support, we are poised to scale our ...
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ArticleTecnica Group receives SIS Eco Award for Recycle Your Boots
At the annual conference of the German Ski Association (DSV), the SIS Eco Award, endowed with €7,500, was once again presented – this year to Tecnica Group SpA for its Recycle Your Boots project. The Safety in Skiing Foundation (SIS) was looking for sustainable projects that implement resource conservation and ...
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ArticleAthleta delivers for Gap Inc. in Q1
Gap Inc.’s CEO Richard Dickson told analysts that its Athleta specialty retail chain has “significant growth potential and a clear and distinct brand positioning rooted in the Power of She.” The latter is being accelerated by a rising global interest in women’s sports and female athletes and Athleta’s decision to ...
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ArticleGolden Goose plans IPO in Milan in June
Italian luxury brand Golden Goose said that it plans to hold an initial public offering (IPO) on the Milan stock exchange consisting of existing shares held by Astrum, its sole shareholder, and newly issued shares stemming from a capital increase. The brand will use the proceeds of the capital hike ...
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ArticlePádel players now number 30 million worldwide
The International Padel Federation (FIP) has released the 2024 edition of its World Padel Report, which has pegged the number of pádel players worldwide at 30 million and the proportion of women among them at 40 percent. More than half of the players are in Europe, with another quarter or ...
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ArticleNidecker Group acquires iconic skate brands, expands legacy in action sports
The Nidecker Group has announced the acquisition of the skate brands Etnies, éS, Emerica and ThirtyTwo from Sole Technology. The deal sees Sole Tech’s founder, Pierre André Senizergues, remain CEO while retaining a minority interest in the brands. Under the leadership of Senizergues, the brands have become pioneers in the ...
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ArticleGoogle joins Walmart in new funding round for Indian e-tail giant
Google plans to contribute to the latest round of funding for Flipkart, Amazon’s chief competitor in India, and take a minority share in the generalist e-commerce platform – once regulators approve the deal. Flipkart says that both Google’s investment and its cloud will help the company “expand its business and ...
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ArticleCastore opens first London outlet store at The O2
Castore has launched its first London outlet store at Outlet Shopping at The O2. This new storefront occupies 121 square meters on the upper level of the complex, nestled next to Reiss. The store features a range of Castore’s women’s and men’s athletic wear and includes a special section for ...
