Retail insights from the sporting goods industry – Page 49
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ArticleGlobal gym accessories market growing at 6.2% CAGR to 2031
The global gym accessories industry was estimated at $6.51 billion in 2021 and is expected to reach $12.01 billion by 2031, registering a compound annual growth rate (CAGR) of 6.2 percent from 2022 to 2031, according to a new report by Allied Market Research. The experts said that the growth ...
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News briefsDecathlon partners with Zeus Labs for U.K. distribution
Decathlon has chosen London-based start-up Zeus Labs to help handle its U.K. freight. Zeus now reportedly handles nearly half of all the retailer’s restocking in the U.K. Zeus was founded by Jai Kanwar and Clemente Theotokis in 2019. It’s a digital freight platform with a vision to drive efficiency in ...
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News briefsAlibaba appoints two new independent directors
Alibaba Group announced that Irene Yun-Lien Lee, chairman of Hysan Development Company Limited, and Albert Kong Ping Ng, former chairman of Ernst & Young China, have been appointed to the company’s board as independent directors, effective Aug. 4. Following these appointments, the company’s board currently consists of twelve directors, including ...
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News briefsAlibaba’s e-com sales decline
In Alibaba’s first quarter ended on June 30, revenues fell very slightly to 205.6 billion yuan renminbi (€29.7bn) from RMB 205.740 billion a year earlier due to a 1 percent decline in revenues in the China commerce segment to RMB 141.9 billion (€20.5bn), offset by revenue growth of the cloud ...
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ArticleeBay exceeds expectations in Q2, sees ongoing global challenges
Online platform eBay has beat analysts’ earnings expectations in its quarterly report for the second quarter of 2022. According to the board, the e-commerce company’s focus on higher-priced products and the sneaker product category mitigated the impact of spending restraint and weakness in some European markets. eBay forecast revenue between ...
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ArticleZalando publishes Q2 figures and reveals adjustment plans to improve order economics
With the release of its second quarter 2022 figures, Zalando has expressed confidence in returning to profitability in the second half of 2022 with a set of measures to address the volatile market environment. In the second quarter of 2022, the number of active Zalando customers grew to over 49 ...
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News briefsAllbirds lays off 3% of its employees
Allbirds, the San Francisco-based DTC footwear brand that went public in 2021, confirmed that it is laying off 23 employees. The layoffs were first posted on startup layoff portal Layoffs.fyi and then reported by SFGATE.com. “We have thoughtfully evaluated roles and processes in each department, and each market, to ensure ...
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News briefsFoot Locker releases updated report on LEED initiative
Foot Locker has released its second annual progress report detailing its efforts to support the Black community globally. The Leading Education & Economic Development (LEED) Initiative, launched in June 2020, is the company’s $200 million commitment to the Black community. Through the end of FY21, Foot Locker says it has ...
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News briefsFirst German NBA Store will open this fall
The National Basketball Association (NBA) and Fanatics have announced that an NBA Store will open this fall in Berlin. The new store, located at Alte Potsdamer Straße 7, in The Playce at Potsdamer Platz, will be operated by Lids. The opening will mark the first NBA Store in Germany and ...
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News briefs
Lululemon store in Washington D.C. first to embark on unionization
Workers at a Lululemon store in Washington, D.C., in the Georgetown neighborhood, have filed a request with the National Labor Relations Board (NLRB) to hold a union election. It is the first Lululemon location to embark on the unionization process. The group of workers is looking for the employer to ...
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News briefsJD Sports appoints new CEO
JD Sports Fashion has appointed Régis Schultz as the company’s new CEO. The appointment was preceded by an extensive global executive search process, which had also caused repeated speculation in the media. Schultz is expected to start at JD in September. At that time, Kath Smith will fully hand over ...
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News briefsFirst French NBA store opens in Paris' Latin Quarter
The National Basketball Association (NBA) and Fanatics have announced the opening of the first NBA Store in Paris. The new three-floor, 300-sqm store is located at 20 Boulevard Saint-Michel, in the Latin Quarter. It’s only the third NBA store in Europe, after London and Milan, and the first in France. ...
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News briefsPou Sheng warns on significant H1 decline
Pou Sheng Intl., the retail subsidiary of Yue Yuen, issued a revenue and profit warning for the first half ended June 30, citing persistent Covid-related restrictions in China that impacted consumer traffic and sentiment during the six months. The group forecasts a 25 percent decline in H1 revenues to 9,865 ...
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News briefs
Deporvillage returns as La Vuelta’s official online store
Spanish sports e-tailer Deporvillage and Unipublic, the organizer of La Vuelta, have signed a collaboration agreement that makes the online sports equipment retailer the official online store of the most important race in the Spanish cycling calendar for the next three years. Deporvillage will sell the four leader’s jerseys made ...
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News briefsNew Balance to reopen stores in Spain starting in August
New Balance closed its stores in Spain and Portugal after its contractual link with Experience, its retail partner, came to an end on Dec. 31, 2021. As reported by Palco23, the company is now planning to open two stores in August at The Style Outlets in Getafe and San Sebastián ...
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News briefs
Revenues up 71% year-on-year in H1 at ISRG
For the first half of the year, Iberian Sports Retail Group (ISRG) has posted sales of €621 million, for a year-on-year increase of 71 percent. A joint venture between Britain’s JD Sports (50%), Portugal’s Sonae (30%) and the Segarra family (20%), ISRG handles the business of the Sprinter, Sport Zone ...
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News briefsLoans to help Pádel Nuestro expand in Sweden
Pádel Nuestro has secured two loans whose total of €2.84 million will go towards acquiring real estate, inventory and other costs associated with opening own stores in Sweden’s big cities. The group has six Swedish stores already, all of them franchises. The lender is COFIDES, public-private company combining Spanish state ...
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News briefsGerman retail association rejects new lockdowns in fall
HDE (German Retail Association) and ZIA (Central Real Estate Committee, the umbrella organization of the German real estate industry) have published a strategy paper in which they jointly formulate specific demands to policymakers to prevent a repetition of the past two fall/winter seasons. These include an exemption from lockdowns or ...
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News briefsNew price comparison site for runners launches in the U.K.
Tom Green, a London-based amateur runner, is the founder of Geerly. The company focuses on using technology to help runners of all abilities choose the right gear and find it at the best prices. Geerly lists more than 1,700 running shoes, boots and watches. Currently active only in the U.K., ...
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News briefsJapanese e-commerce company to acquire majority stake in Phenix owner
As reported by sportstextiles.com, Japanese e-commerce company E-store Corporation has taken steps to acquire Shiffon, a Tokyo-based licensee and developer of brands such as Kappa and Hummel, and Phenix licensee* for its worldwide sales territories except for China, the brand founded in 1952 that is the official outfitter of the ...
