News Briefs – Page 122
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News briefsLululemon shares take hit after lowered margin outlook
Lululemon, in updating its fourth-quarter guidance ahead of the ICR Conference, lowered its gross margin outlook for a second consecutive quarter. The group forecasted a gross margin decline of 90 to 110 basis points in the period versus a prior outlook of a 10 to 20 basis point increase, and ...
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News briefsH&M enters the metaverse
Like Adidas and Nike before it, H&M is venturing into the metaverse through the Roblox platform. In the retailer’s case, however, the design partnership is with a metaverse studio called Dubit, with offices in Leeds, London, Washington D.C. and Nashville. The result is called H&M Loooptopia Experience, were users can ...
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News briefsZumiez Q4 results should meet or exceed forecast
Zumiez, the retail operator of 766 stores worldwide, including 78 Blue Tomato banners across Europe, expects its fourth-quarter sales will be slightly higher than its forecasted range of $258 to $268 million, with corresponding EPS to be at the “mid to high end” of its $0.36 to $0.51 forecasted per ...
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News briefsSprinter plans to open physical stores in France
According to a report by Sport-Guide, Sprinter is exploring options to open physical stores in France. The plan of the Spanish sporting goods retailer, scheduled to start this year, is set to involve primarily Paris/Ile de France and the south of France for stores with a surface of 900 to ...
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News briefsAmazon to close three UK warehouses, plans two new fulfillment centers
SkyNews reports that Amazon is looking to close three old warehouses in the U.K., which currently employ 1,200 people, and replace them with two new, large fulfillment centers. The sites in Hemel Hempstead, Doncaster and Gourock, in the west of Scotland, have been proposed for closure. The proposed new sites ...
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News briefsJack Ma to give up control of Ant Group
Ant Group founder, Chinese billionaire Jack Ma, who is also the founder and longtime head of Alibaba Group, will relinquish control of the Chinese fintech giant, according to Reuters. The move is intended to draw a line under the regulatory crackdown that began shortly after Ant’s IPO failed two years ...
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News briefsCeferin is set to be re-elected as UEFA president
Aleksander Ceferin, the current UEFA president, is set to be re-elected as he has emerged as the only candidate for the role, the organization has announced. Presidential elections at the European football governing body are scheduled to take place at its congress in April. Ceferin, 55, is standing for a ...
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News briefsVF with new appointment to Timberland executive team and more
Source: VF Corp Nina Flood VF Corporation has announced new appointments to its leadership team in the EMEA region, including for the Timberland brand, effective Jan. 31. Nina Flood — current president VF Global Packs (Eastpak, JanSport, and Kipling) — is to be the new general manager ...
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News briefsAlibaba plans logistics center at Istanbul airport
Chinese e-commerce giant Alibaba Group Holding Ltd will invest more than $1 billion in Turkey to build a logistics center at Istanbul Airport and a data center near the Turkish capital of Ankara, Michael Evans, president of Alibaba Group since 2015, told Sabah newspaper last Sunday. Alibaba is seeking to ...
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News briefsNew York bans PFAS in textiles
The State of New York has banned the production and sale within the state of clothing and other textiles containing perfluoroalkyl and polyfluoroalkyl substances (“PFAS”). The legislation is set to go into effect on Dec. 31, 2023, after Governor Kathy Hochul signed off on Senate Bill S6291A earlier this month. ...
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News briefsMeta not allowed to use personal data for advertising
Facebook owner Meta will no longer be allowed to use the personal data of its users in Europe for advertising personalization without being asked. This was the decision of the responsible Irish data protection authority DPC. At the same time, the authority imposed a fine of €390 million. According to ...
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News briefsIntersport launches Alpine store concept in Crans Montana
Intersport Switzerland has partnered with Mood Media and LG to equip its new Alpine store concept in Crans-Montana with the latest audiovisual retail technology. The high-tech upgrade is visible as soon as you enter the store. In the shop window, Mood Media, an experiential media company based in the U.K., ...
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News briefsPeloton Interactive agrees to pay $19 million fine
Peloton Interactive has agreed to pay a $19 million civil penalty levied by the U.S. Consumer Product Safety Commission (CPSC) for failing to report a defect with its Tread+ treadmill promptly. Besides the fine, the company’s settlement with the government agency requires it to file annual reports on the compliance ...
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News briefsAmazon cuts 18,000 jobs, secures billion-dollar loan
Amazon will lay off over 18,000 employees, with the majority focused on Amazon Stores and the People, Experience, and Technology (PXT) organizations, Andy Jassy, the company’s CEO, announced. The U.S. online retailer plans to start talking to employees or representative bodies from Jan. 18. Amazon had already imposed a hiring ...
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News briefsPreview of the upcoming Fitur show
The next edition of Fitur Sports will be taking place on Jan. 19 at IFEMA Madrid and addressing such matters as sporting events, training camps and sports holidays. Organized in collaboration with the Spanish Sports Association (Afydad), the show bills itself as a meeting of the tourism and sports industries, ...
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News briefsAdidas and Thom Browne continue their dispute in court
The ongoing dispute between Adidas and Thom Browne over the use of stripes on clothing and footwear continues, with both brands facing off in trademark litigation in Manhattan’s Southern District Court early in the new year. Adidas is seeking more than $867,000 in compensation from the U.S. fashion brand – ...
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News briefsGerman ski racing icon Rosi Mittermaier passes away at 72
Former German ski racer Rosi Mittermaier has died. With her two gold medals at the 1976 Winter Olympics in Innsbruck, “Gold Rosi,” as she was subsequently known, mesmerized all of Germany. Her family told Bayerischer Rundfunk that Mittermaier fell asleep peacefully at the age of 72 in Garmisch-Partenkirchen on Jan. ...
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News briefsL.A. gets first pro pádel franchise
EEP Capital, which describes itself as the first venture-capital fund devoted to the sport, has purchased the first pádel franchise in Los Angeles. The team will be playing within the Pro Padel League, the professional league in the U.S. EEP Capital is tied to and shares management with EE Padel ...
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News briefsHead’s pádel team has a new international tour manager
Head has promoted Jordi Vives from marketing and promotion manager, his post for the last two years, to international tour manager for pádel. He will now be working with Thomas Bischof, director of pro players. Vives hails from Barcelona but studied in the U.S., where he also established a background ...
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News briefsCIP to attend this month’s Padel Trend Expo
The International Pádel Cluster (CIP) will be exhibiting at Padel Trend Expo Milan, as will many of its associated brands: Babolat, Bullpadel, Enebe, Gimpadel, Head, Just Ten, Kelme, Mejorset, Mondo, Okatent, Paddeo, Padel Courts Deluxe, Padel Galis, Playtomic, Set, Softee, Starvie, Stop Sudor, Vibor-A and Wilson. Scheduled for Jan. 13-15, ...
