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Nike forecast first-quarter revenue below estimates as it expects to discount more and wrestles with pandemic-related disruptions in China, its most profitable market. The company’s shares fell 3% to $107 after the bell. Analysts are mixed about Nike’s…
German sportswear company Adidas said on Thursday it would grow in its key market of China in 2022 even after it was hit by renewed pandemic restrictions and the aftermath of a consumer boycott of Western brands. The comments come after Manager Magazin…
French sports retailer Decathlon named 45-year old Barbara Martin Coppola, a former executive at companies such as IKEA and Google, as its new global chief executive. Coppola will replace Michel Aballea, who had held the role since 2015, in mid-March this…
The largest Adidas store to date on Japanese soil extends over two floors and a surface area of 1,000 square meters. In addition to countless products for a wide range of sporting activities, the new Adidas Brand Center, which is located just a few minutes’…
Thousands of workers of Taiwanese-invested footwear maker Pouchen Vietnam, a Nike contract manufacturer, struck work Friday, demanding the same Tet bonus as last year. They refused to return to work after finishing their lunch to protest the company’s policy…
Under Armour on Tuesday raised its full-year forecasts, alleviating investor concerns regarding holiday inventory shortages flagged by nearly all its peers and sending its shares up 16 percent. Factories in Vietnam, where Under Armour sources about one-third…
Japanese sports fans will be able to enjoy more premium sports content as SoftBank Corp. (SoftBank), a leading telecom carrier in Japan, has partnered with SES for the aggregation and delivery of live sporting events to its corporate customers, such as TV…
Authentic Brands has cemented its position as a major player in American retail after what one analyst described as a “massive acquisition” – the successful $2.456 billion bid for Reebok. Adidas confirmed the sale overnight after six months of negotiations…
After a pandemic-served beatdown last year, Puma has clawed its way to recovery. On February 24, the German sportswear giant reported that sales jumped 9 percent to 1.52 billion euros in the last three months of 2020 — a promising upswing from the 55-percent…
German sportswear maker Adidas AG predicted a strong rebound in sales in 2021, particularly in China, the rest of Asia, and Latin America, although its profits will be trimmed by costs associated with divesting the Reebok brand. The outlook for 2021 is part…
A new series of sports cars is confirmed, with prototype production of the Lotus Type 131 to commence this year from the manufacturing facility in Hethel, Norfolk. The new manufacturing investment is part of Lotus’ Vision80 strategy, which will also see the…
DECATHLON, one of the world’s largest sporting goods retailers, and the National Basketball Association (NBA) today announced a new multiyear merchandising partnership that makes DECATHLON an official licensee of the NBA across Africa, Asia, Europe, the…
Japanese sporting goods maker Asics closed down its New York flagship store in December amid the prolonged impact of the COVID-19 pandemic, the company announced on Monday. The store opened in December 2017 on Fifth Avenue, selling running shoes and…
Puma says its third-quarter sales rose 13.3 percent on a currency-adjusted basis to US$1.85 billion, leaving year-to-date sales down just 5.1 percent despite the impact of the pandemic. “The third quarter developed much better than I expected,” said Bjorn…
After a difficult start to the year, the world economy is finally trying to open up. A good example is the online casino bets and gambling stock, which have taken Wall Street by storm in the recent past as the sports economy reopens and the return of live…
Japanese sportswear retailer Asics has posted a steep drop in revenues as a consequence of the coronavirus pandemic. The firm has seen a 21.5-per-cent dip in global sales to the equivalent of US$1.4 billion in this year’s second financial quarter, and…
