More retail news – Page 80
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News briefs
Decathlon closes two stores in Russia
Decathlon has decided to close two mega-stores in different parts of Russia in less than a month. On Aug. 20, the French sporting goods retailer announced that it would close a store in Ivanovo. The decision was made against the background of a major slump in revenue due to the ...
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Article
Two prominent Adidas executives quit
Two prominent U.S.-based Adidas executives are leaving at the same time, but an official of the company says the two events are completely unrelated. Jon Wexler, a 20-year veteran of the company who has been leading its Yeezy business unit since last November as vice president and general manager, left ...
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OpinionOpinion: The short- vs long-term perspective of retail recovery
Guest Article by Magnus Ohlsson The pandemic has led consumers to shift interests and behavior for now, but not necessarily forever. This also means that short-term gains and losses should not be translated into an everlasting future. It is important to take into the equation the brand performance of the ...
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News briefs
Decathlon partners with Captain Wallet for loyalty cards
Decathlon France is partnering with Captain Wallet on a mobile solution that allows customers to access their loyalty card directly via the wallet mobiles on their smartphone. Until now, this was only possible through the customer’s account page on the Decathlon website.
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RETAIL
+++ Sports Direct has opened a 51,000-square-foot store in Newry’s Buttercrane Centre, one of its biggest in Northern Ireland +++ Foot Locker has opened a five-story space in Singapore’s Orchard Gateway @Emerald, with retail over three levels, to sell footwear and apparel collections from global brand partners while celebrating basketball ...
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News briefs
Adidas and Unity release joint collection
Adidas Skateboarding and Unity, a producer of gender-neutral skate apparel and shoes, are releasing a joint collection for autumn/winter 2020. Unity was founded in 2017 by Jeffrey Cheung and Gabriel Ramirez specifically for the LGBTQ+ market. Cheung has used his illustrations to modify Adidas-designed shorts and shirts as well as ...
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News briefsBlue Tomato opens second store in Munich
Omnichannel retailer Blue Tomato from Austria, specialist for boardsports and lifestyle, will open its second store in Munich, Germany, on Sept. 3 at Oberanger in the heart of the city’s old town. The 500 square meter store will be managed by Joachim Lais. Tillmann Ruprecht, director of sales & service ...
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ArticleAnta Sports switches to DTC in China
The pandemic has been a catalyst for change across many companies this year, including at Anta Sports Products. It has decided to do away with the wholesale model that it employed for 20 years in 11 major provinces. Instead, the Chinese sports group will switch to a new business model ...
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News briefs
Fanatics inks 10-year deal with Rebel
Fanatics has agreed a ten-year distribution deal with Rebel Sports, the big Australian sports retailer. The contract, which will come into effect in mid-2021, will make available to Rebel customers more than 100,000 officially licensed sports products from Fanatics partners. Fanatics is the official online retailer for all major U.S. ...
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News briefs
Zalando hires three SVPs
Zalando has promoted an executive and hired two more. Andreas Antrup, who has been with the European internet fashion platform since April 2011, is moving to a new post as senior vice president of advertising. Antrup has been leading a five-year-old department called Zalando Marketing Services (ZMS). Andrew Watts came ...
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ArticleNorwegian sports retail merger is challenged by the national anti-trust authority
Gresvig’s merger with the Sport 1 retail group, which was announced at the end of February, is being questioned by the Norwegian Competition Authority. The body has given the parties in the deal 15 days to respond to an official warning of a possible investigation, indicating that it plans to ...
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News briefs
Adidas extends its sponsorship of England Rugby
Adidas has signed a four-year extension of its footwear-supply sponsorship deal with England Rugby. The original deal dates to 2016. The new one takes effect on Sept. 1 and will run through the 2023/24 season. Adidas will retain exclusive rights to rugby boots and trainers for men, women and age-grade ...
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News briefs
Fanatics’ valuation reportedly rose to $6.2 billion after new funding round
Fanatics, the fast-growing, vertically integrated licensed sportswear company, has reportedly reached a marlket value to $6.2 billion while raising $350 million in a Series E funding round arranged by Goldman Sachs. The round, which was oversubscribed, is expected to be the last private funding for Fanatics before the company files ...
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ArticleIntersport and Stadium close stores in Sweden
The Swedish Intersport banner has decided to close at least ten of its 130 stores, fewer than originally expected, as some landlords have accepted more flexible rental terms. Other stores may have to be shut down, depending on ongoing negotiations with their landlords. Intersport Sverige filed on April 14 for ...
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News briefs
New chairman for Adidas
Thomas Rabe, 55, has been appointed as the new chairman of Adidas AG’s supervisory board. He succeeds the 76-year-old Igor Landau after 16 years in that position. Rabe became chief financial officer of Bertelsmann in 2006 and was promoted to chief executive of the global media company six years later. ...
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News briefs
Boardriders sells a U.K. retail chain to its founder
After long discussions, Boardriders has resold selected assets of Two Seasons, a British action sports retailer, to its founder, Stuart Roberts, helped by two investors. Roberts founded Two Seasons in 1982, when he was 19 years old, and sold it to the former Billabong Group in 2007 when it had ...
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News briefs
Good ratings for Adidas
The Adidas Group got strong investment-grade ratings from Standard & Poors and Moody’s – A+ and A2, respectively – with a stable outlook, making it one of the top-rated companies in the sporting goods industry. The two agencies praised the Big a for its diversification in terms of geographies, products ...
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ArticleZalando benefits from the lockdown as Q2 sales, profits surge
Zalando‘s net profit rose to €122.6 million in the second quarter from €45.5 million a year earlier as its client base expanded in terms of final customers as well as participants in its marketplace. The German online fashion retailer now serves 34.1 million active customers across Europe, up by 20.4 ...
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ArticleAmazon is entering the Nordics
Confirming plans to set up its seventh European website in Sweden in time for Christmas shopping, Amazon has posted a job advertisement for a manager who would also be responsible for Norway, Denmark and Finland. Until now, Swedish consumers and companies have only had access to the other European Amazon ...
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ArticleAdidas ends in the red, sees upside
The German sportswear giant posted an operating loss of €333 million, compared with an operating profit of €643 million a year earlier, due to several coronavirus-related charges. These were mainly due to increased inventory and bad debt allowances, as well as impairment charges for retail stores and the Reebok trademark, ...
