JD Sports Fashion lowered its full-year profit forecast on Thursday, citing higher costs and subdued consumer spending in the peak season, sending the British sportswear retailer’s shares down nearly 21%. Retailers in the United Kingdom have experienced tepid growth as the ongoing cost-of-living squeeze prompts shoppers to rein in spending. Apparel retailers across Europe like…
Nike is starting to lose share to upstart sneaker brands such as On and Hoka and will need to invest in fresher styles, analysts said on Friday, after the sportswear giant trimmed its annual sales forecast and sent shares tumbling 11%. The Air Jordan 1 shoe maker mainly blamed cautious consumer spending for the downbeat…
Nike on Thursday trimmed its annual sales forecast blaming cautious consumer spending, a weaker online business and more promotions, and said it plans to cut supplies of key product lines to manage costs, sending its shares down 11%. The company said it was seeking $2 billion in savings over the next three years through steps…
Representative image LONDON: Frasers, the British sportswear and apparel retailer controlled by Mike Ashley, has bolstered its presence in the luxury space by buying loss-making online player MATCHES from Apax Partners, paying about 52 million pounds ($66 million). MATCHES offers products from more than 450 designers and generates the majority of its revenue internationally, with…
The premium footwear industry selling designer, luxury labels and high-end sports shoes is in turmoil as manufacturers say consumers may not be able to buy the new spring-summer season launches. The footwear could go off retail shelves in the next few months as the Bureau of Indian Standards (BIS) has not certified their factories in…
MOSCOW: A Russian distributor of Western sports brands will start selling Adidas and Reebok products as soon as this week, despite the companies’ departure from the market over the war in Ukraine, the Kommersant daily reported on Wednesday. Adidas and Reebok were among hundreds of Western companies that decided to suspend business operations in Russia…
Foot Locker‘s steep discounts powered a solid start to the retailer’s holiday season sales and prompted it to tighten its annual profit and sales expectations, sending its shares surging as much 22% on Wednesday. More than 200 million shoppers made purchases both in-store and online during the Thanksgiving weekend, the National Retail Federation said on…
Bhaane tshirt New Delhi: Clothing retailer Bhaane has partnered with global sports organization, the National Basketball Association (NBA) to launch and operate the e-commerce platform NBAStore across India, the company announced in a press release on Thursday. “The NBA is one of the largest sports leagues globally, and we’re excited to collaborate with them on…
Surging demand for fitness wear and sports equipment for disciplines other than cricket and football helped Decathlon‘s India unit expand sales 37% to Rs 3,955 crore in FY23. With more than 100 large, warehouse-like stores selling products catering to 85 sporting disciplines, the French company is bigger than Adidas, Nike and Asics all put together…
Hanoi: One of Vietnam’s largest shoemakers for brands such as Nike, Adidas and Reebok will cut jobs for the third time this year, state media said Wednesday, citing a lack of orders. The Southeast Asian country is among the world’s largest exporters of clothing, footwear and furniture but its economic growth has been slow in…
