News Briefs – Page 10
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News briefsHydrow acquires majority in Speede Fitness
Hydrow, maker of high-end, connected rowing machines, has acquired a majority stake in Speede Fitness, according to CNBC. In addition, the company’s founder, Bruce Smith, will be ceding the post of CEO to current President and Chief Financial Officer John Stellato and taking up the post of Chairman. Hydrow enjoys ...
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News briefsNorwegian sports chains see 9.5 percent sales decline in Q1 2024
Sports chains in Norway, including XXL, Sport1, Intersport, Anton Sport, Löplabbet, Stadion, Obs!, and Stadium Outlet, reported a significant sales downturn in the first quarter of 2024, with revenues dropping 9.5 percent compared to the same period in 2023, totaling 2.7 billion Norwegian kroner (€233.2 million). The decline is attributed ...
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News briefsSuperdry prepares for emergency sale amid restructuring plan uncertainty
Superdry, the British fashion retailer, is facing a pivotal moment as it braces for the potential rejection of a restructuring plan proposed by CEO Julian Dunkerton. If creditors do not approve the plan, Superdry is set to launch a four-week emergency sale process, which could lead to a pre-pack administration ...
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News briefsAston Villa secures kit deal with Adidas, ends controversial partnership with Castore
Aston Villa, the Premier League soccer club, has announced a significant multi-year kit supply agreement with Adidas, starting from the 2024-25 season. This partnership marks the end of Villa’s current association with Castore, which has been marred by player complaints over the quality and functionality of the kits. The deal ...
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News briefsAdidas announces more affordable versions of popular sneakers
At Adidas 2024 Annual General Meeting in Fürth, Germany, CEO Bjørn Gulden announced that Adidas would make its sneakers more affordable. This strategy involves launching cheaper versions of top-selling models such as the Samba, aiming to cater to consumers attracted to trends but deterred by high prices. Gulden emphasized the ...
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News briefsNike faces decline in running shoe website traffic as rivals gain ground
Nike has seen a notable decline in website traffic for its running shoe category, falling behind in a fiercely competitive market. According to Similarweb’s data, traffic to Nike.com’s running segment has steadily decreased from March 2022 to March 2024, a period during which rival brands like Brooks have caught up, ...
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News briefs
Sports Direct loses court appeal over Newcastle United’s kit supply deal with JD Sports
Sports Direct has failed in its bid to secure a Court of Appeal ruling over a dispute with Newcastle United concerning the football club’s exclusive kit supply deal with JD Sports for the 2024/25 Premier League season. The Frasers Group-owned retailer sought a temporary court order to force Newcastle United ...
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News briefsFila Holdings reports flat Q1 net
Fila Holdings’ constant currency net income increased by 0.1 percent to 123,330 million Korean won (€84.1m) against KRW 118,257 million for the period ended March 31. The Q1 operating profit declined by 2.6 percent on a constant currency basis to KRW 163,259 million (€111.3m) compared to KRW 160,379 million. The ...
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News briefsTiger Woods’ new apparel brand faces criticism over performance issues at PGA Championship
Tiger Woods’ new apparel brand, Sun Day Red, faced criticism during the PGA Championship’s opening day as the golfer struggled with visible sweat issues. Launching earlier this year after ending a longstanding partnership with Nike, Woods’ brand aims to redefine golf wear. At golf club Valhalla, Woods appeared in a ...
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News briefsLoewe and On launch new collection
Loewe and On unveil their latest collaboration. The partnership introduces a new joint logo combining elements of both brands. The collection showcases an emphasis on streamlined design and optimal functionality with pieces like color-blocked performance fabrics in natural tones and statement outerwear suited for any weather. Highlights include insulated parkas, ...
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News briefsDecathlon partners with Recyc’elit to advance textile recycling and sustainability in the Industry
Decathlon has reinforced its commitment to sustainability by partnering with Recyc’elit, a pioneering startup specializing in the recycling of complex textiles. Founded in Lyon, France, in 2020 by PhD scientists Karim and Raouf Medimagh, Recyc’elit has introduced a technology for separating materials such as polyester, elastane, and polyamide, enhancing the ...
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News briefsCrocs expands ‘Old Crocs. New Life’ program nationwide to promote sustainability in footwear
Crocs has relaunched its ‘Old Crocs. New Life’ shoe takeback program, expanding the initiative to include all retail and outlet locations across the US, except in Hawaii and Puerto Rico. The program invites individuals to deposit Crocs shoes of any condition into collection boxes or send them ...
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News briefsAdidas shareholders re-elect chairman Thomas Rabe
At Adidas’ annual general meeting this Thursday, shareholders re-elected Thomas Rabe as chairman for another year, marking his fifth year in the role. The re-election comes despite opposition from Institutional Shareholder Services (ISS), a proxy advisory firm, which in April advised against Rabe’s reappointment. ISS cited concerns over Rabe’s multiple ...
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News briefsMartin Badour appointed as new President of Snipes USA, succeeds Jim Bojko
Snipes has announced Martin Badour as the new President of its operations in the US. Badour, who previously served as Executive VP of Retail for Snipes in the USA, steps into the role effective immediately. He replaces Jim Bojko, who has departed from the company. In a statement, Badour expressed ...
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News briefsEbay introduces feature to streamline pre-owned sales
Ebay has introduced a ’click-to-resell’ feature, enhancing the ease with which users can list their pre-loved clothing on the platform. This innovation is part of Ebay’s strategy to position itself as a leader in the recommerce clothing market, providing a seamless method for reselling fashion items and advancing product circularity. ...
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News briefsZalando taps former Puma Executive to lead sports division
Zalando has announced the appointment of Nina Graf-Vlachy as its new General Manager for sports, effective August. This move is part of Zalando’s strategy to enhance its sports lifestyle offerings. Graf-Vlachy, who previously held the role of managing director of central Europe at sportswear company Puma for over a decade, ...
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News briefsTemu faces consumer complaints across Europe for misleading practices
Temu, the Chinese e-tailer known for fast fashion and lifestyle products, is facing scrutiny from 17 European consumer organizations. According to reports from the Dutch Consumers’ Association and the Belgian Testaankoop, these groups have lodged complaints with their national regulators, accusing Temu of deceptive practices and non-compliance with new European ...
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News briefsConverse to cut jobs as part of Nike's $2 billion cost-saving strategy
Converse, a subsidiary of Nike, is set to cut jobs as part of Nike’s broader $2 billion cost-saving initiative, a knowledgeable source disclosed on Tuesday. Announced in December, Nike’s three-year plan aims to economize through strategies like product supply tightening and management streamlining. The footwear leader has faced challenges with ...
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News briefsGoldwin FY operating profit up 9 percent
Japanese group Goldwin reported an annual operating income increase of 9 percent to ¥23,847 million (€141.1m) for the 12 months ended March 31. Annual net income rose by 16 percent to ¥24,281 million (€143.7m). Goldwin’s consolidate net sales for the FY jumped by 10 percent to ¥126,907 million (€750.9m) from ...
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News briefsNike to open large store in Zaragoza
Nike will reportedly open a store of nearly 2,000 square meters in Zaragoza. It will be one of the brand’s largest stores in Spain. According to the Heraldo de Aragón, the store will be inaugurated between the end of the year and the beginning of next year. The new Nike ...
