News Briefs – Page 30
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News briefs
Adidas lifts FY guidance, shares rise
Bolstered by better-than-expected Q1 results, Adidas increased its full-year guidance yesterday and saw its stock price increase by 2.7 percent in the US to close at $111.01. The group’s new outlook calls for an operating profit of about €700 million, up from €500 million prior, on mid- to high-single-digit revenue ...
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News briefs
Nike unveils new innovation cycle in preparation for Olympics
Nike’s latest innovation push follows CEO John Donahoe’s recent acknowledgment of the brand’s need to enhance its product innovation pipeline, citing it was “not performing at our potential.” The forthcoming products unveiled by Nike ahead of the Paris Olympics mark the commencement of a multiyear innovation drive, introducing “game-changing innovations” ...
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News briefs
Puma Golf strikes exclusive shoe deal with golf pro Viktor Hovland
Puma Golf has sealed an exclusive shoe-only deal with Norwegian golf star Viktor Hovland. Hovland has been wearing Puma’s Ignite Articulate shoe for over a year already, and this formal agreement solidifies the partnership. “I started wearing Puma shoes because I really liked the style and comfort,” shared Hovland. Shoes ...
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News briefs
JD Sports Fashion opens flagship store on Paris’s Champs-Élysées
JD Sports Fashion debuts its global flagship store on Paris’s famed 118 Avenue des Champs-Élysées. The store boasts cutting-edge digital technology and will offer “immersive experiences for shoppers”. Featuring top brands like Nike, Adidas, and New Balance, the store promises the latest in sports fashion. To mark the occasion, JD ...
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News briefs
Local revenues up at this season’s Spain SailGP
According to Deloitte, as reported by Palco23, the “economic impact” of the most recent Spain Sail Grand Prix – event five of 13 in SailGP’s fourth season, held in Cádiz on Oct. 14–15 of last year – was 77 percent greater than the previous one. The catamaran race generated €93.7 ...
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News briefs
Amazon invests €700m in AI-powered tech and robotics across Europe
Amazon is using its Innovation Lab in Vercelli, northern Italy, to develop and test new technologies aimed at enhancing support for employees and customer satisfaction. Established in 2017, this lab is home to a team of scientists and engineers from all over the world, serving as the hub for the ...
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News briefs
XXL appoints former H&M executive Dawid Gosciniak as COO
Norwegian retailer XXL is bolstering its team by appointing Dawid Gosciniak to a newly created role as Chief Operating Officer (COO) for all of XXL’s markets. Gosciniak will work on enhancing the chain’s omnichannel approach, refining the store concept, optimizing the customer journey, and ensuring the highest possible efficiency ...
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News briefs
Sports Direct denies injunction in dispute over Newcastle United replica jerseys
Sports Direct, owned by Mike Ashley, has faced a setback in its legal battle with Newcastle United Football Club (NUFC) regarding the sale of replica kits for the upcoming 2024/25 season. The retailer had lodged a complaint against NUFC with the Competition Appeal Tribunal in March, accusing the club of ...
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News briefs
Struggling Footway sees sales halved after reconstruction
After concluding a more than six-month-long reconstruction process on Feb. 13, Footway, with twelve e-commerce platforms in its portfolio, has released its sales figures for the first quarter, covering January through March. The year started off on a challenging note, with sales more than halved. Revenue amounted to SEK102 million ...
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News briefs
New global partnership in running business conferences
European Athletics, Running Industry Alliance (RIA) and Running USA have announced a new partnership aimed at enhancing the global running industry’s business landscape. As part of this strategic alliance, the three running business conferences that each organization stages annually or biennially will support each other in terms of content, cross-promotion, ...
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News briefs
Head and Porsche present exclusive capsule for the 911 Turbo’s 50th anniversary
Source: Head Porsche | Head W Series To mark the 50th anniversary of the Porsche 911 Turbo, Head and Porsche have teamed up to create three exclusive skis and a complete collection of sportswear and accessories, including two Mips helmets and a pair of ski goggles, influenced ...
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News briefs
TFG introduces JD Sports to South African market
South Africa is set to welcome the arrival of British sportswear giant JD Sports, courtesy of The Foschini Group (TFG), through an exclusive franchise agreement. TFG’s CEO Anthony Thunström highlighted the move as an expansion of their sports portfolio, leveraging their existing brands like Sportscene, Totalsports, and Sneaker Factory. Thunström ...
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News briefs
Franco Fogliato steps down as Salomon CEO
Amer Sports announced that Franco Fogliato, President and CEO of Salomon, is leaving the company for personal reasons, effective immediately. He will be succeeded on an interim basis by James Zheng, CEO of Amer Sports, who will lead Salomon and the Outdoor Performance segment to ensure the continuity of the ...
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News briefs
Sunderland AFC and Hummel reunite in new partnership
Sunderland AFC and the Danish sportswear brand Hummel have officially announced a new multi-year partnership, marking a comeback of an alliance first established in 1988. Commencing in July 2024, Hummel will take on the role of the club’s new kit partner. This agreement, set to run for an initial five-year ...
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News briefs
Spanish e-commerce up in first nine months of 2023
Online sales in Spain for the first nine months of 2023 rose by 25.1 percent year-on-year, from €2.654 to €3.320 billion, according to Palco23, which cites the National Commission on Markets and Competition (CNMC). The sports sector accounted for €1.792 billion, or 54 percent, of the nine-month total for 2023 ...
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News briefs
361 Degrees Intl. provides Q1 update
Chinese group 361 Degrees Intl. realized high-teens percentage growth for its core brand and a 20-25 percent comparable retail sales gain for its 361° Kids brand during the period ended March 31. Additionally, year-over-year e-commerce sales increased by 20-25 percent in Q1. 361° launched numerous e-commerce marketing initiatives during ...
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News briefs
Smith announces exclusive sales partnership with Ultra Sport for UK & Ireland
Smith, a global leader in snow goggles, helmets, and eyewear, announces a collaboration with Ultra Sport EU, appointing them as the exclusive sales agency for the UK & Ireland markets. Smith aims to leverage Ultra Sport’s expertise to drive substantial growth and development across all sectors. Giacomo Malipiero, Smith’s Senior ...
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News briefs
End of an era: World Athletics pays track&field gold medalists at 2024 Olympics
In a historic move, World Athletics has announced plans to award prize money to gold medalists in track and field events at the upcoming 2024 Olympics in Paris, marking a significant departure from traditional Olympic practices. A total of $2.4 million has been allocated for prize money at the 2024 ...
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News briefs
Frasers Group bolsters EMEA expansion with Twin Sport acquisition
Frasers Group is set to acquire Twin Sport, a prominent Dutch sporting goods retailer. The acquisition agreement entails Frasers Group acquiring all shares in Twin Sport Holding B.V., a key player in the Dutch sports retail landscape and part of the Intersport franchise under EKS Netherlands. Twin Sport, with 17 ...
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News briefs
New Balance teams up with Joe Freshgoods
New Balance has teamed up with Joe Freshgoods, the Chicago-based lifestyle brand founded by Joe Robinson, on the return of the New Balance 1000. The sneaker running style, originally released in 1999, has been reimagined for a new generation but with a “When things were pure” nostalgic influence, from the ...