Latest Articles in Report

SportFits grows annual revenues by 31 percent

SportFits, the e-commerce specialist for outdoor, bike and winter sports items, reported a sales increase of 31 percent to 24.4 million euros for 2023. The operating net margin was 6.51 percent with the company managing to grow profitability for the sixth year in a row. Commenting on the full year trading and outlook, Florian Weis, CEO of...

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Deckers Brands promotes Marco Ellerker to president of global marketplace

Deckers Brands has promoted Marco Ellerker to the newly created role of president of global marketplace, effective August 1, 2024. In his new role, Ellerker will oversee the omni-channel teams for all brands globally. He will become a member of the executive leadership team, reporting directly to Stefano Caroti, incoming chief executive officer...

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AB Foods-owned Primark posts increased profit margins

Primark sales were up 7.5 percent for the 24 weeks to March 2, 2024 marked by a slow start for many cold weather categories due to unseasonal warm weather, followed by strong Christmas trading with seasonal ranges selling through well. However, the company, part of the diversified Associated British Foods (ABF), said in a release that adjusted...

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Tapestry responds to FTC's lawsuit blocking acquisition of Capri Holdings

The Federal Trade Commission (FTC) has sued to block Tapestry’s 8.5 billion dollars acquisition of Capri Holdings Limited, a deal that seeks to combine three close competitors – Tapestry’s Coach and Kate Spade brands and Capri’s Michael Kors brand. The Commission issued an administrative complaint and authorised a lawsuit in federal court to...

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JD Sports to acquire US-based Hibbett for 1.08 billion dollars

JD Sports Fashion has announced the proposed acquisition of sports-fashion brand Hibbett. Today the group proposed to acquire 100 percent stake in Hibbett for a price of 87.50 dollars per share in cash, implying an equity value of 1,083 million dollars and an enterprise value of 1,109 million dollars. Commenting on the development, Régis...

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THG delivers 4.5 percent Q1 sales increase

Overall THG Group achieved first quarter revenue growth of 4.5 percent to 455.4 million pounds. The company said in a release that THG Beauty delivered a growth of 11.1 percent to 267.6 million pounds following targeted changes to geographic strategy through 2023, focusing on more profitable customers and territories closest to the global...

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Charles Tyrwhitt posts strong sales growth in 2023

Turnover at British shirt maker Charles Tyrwhitt for the year to July 29, 2023 increased 45 percent to 269.2 million pounds, of which 49 percent was contributed by the UK market and 51 percent by the rest of the world. Founders Nicholas Wheeler and his wife, Chrissie Rucker earned over 21 million pounds last year as the company benefitted from...

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Gildan reshuffles board, ropes in ex-Goldman Sachs executive as chairman

Gildan Activewear has announced a refreshed board of directors with five new appointments. Timothy (Tim) Hodgson, former special advisor to governor Carney at the Bank of Canada and former CEO of Goldman Sachs Canada, Lewis L. (Lee) Bird III, former chairman and chief executive officer of At Home Group, Jane Craighead, former senior vice...

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More job cuts at Lululemon as it closes U.S. distribution center

Canadian Athleisurewear giant Lululemon is set to close its distribution center in Washington, leading to the layoffs of 128 employees, according to a filing in the local state. Shares in the company have fallen over 31 percent since the start of 2024. The job cuts are expected to commence on June 21, with plans to shut down the facility by the...

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Nike to axe over 700 jobs from its Oregon headquarters

Nike's Oregon headquarters is set to eliminate approximately 740 jobs by late June as part of its multiyear cost-cutting plan. Michele Adams, Nike’s vice president of people solutions, disclosed this intention in a filing with the state of Oregon on Friday, describing it as a “second phase of impacts” as the world’s largest sportswear company...

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Can Asos ramp up revenue after its sales decline?

Asos wants to reverse its sales decline, grappling with an 18 percent drop in revenue amidst intensified competition from brands like Shein, H&M, and Zara. This challenge is compounded by shifting consumer preferences away from exclusive online shopping, marking a stark departure from the gains Asos experienced during the pandemic, the Guardian...

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Agilitas to design and distribute Lotto products in India, Australia and South Africa

WHP Global has announced a new long-term licence for Lotto with Agilitas Sports. Through this licence, WHP said in a release, Agilitas will have the exclusive rights to design, manufacture, promote, and distribute the Lotto brand in India, Australia, and soon in South Africa. Commenting on the development, Stanley Silverstein, chief commercial...