Adidas and Allbirds are partnering “to push the boundaries of sustainability by setting out to accomplish something that has never been done before: a sports performance shoe with the lowest carbon footprint”.
The Birmingham, Alabama-based sportswear retailer reported a 21.4% decrease in net sales for the first quarter on Tuesday, as a peak in online revenues helped to temper declines related to temporary store closures.
The US sport retailer’s sales plummeted in the quarter which ended on May 2, falling by 43%. Stores are gradually reopening, but a major overhaul is on the cards, including closure of the Runners Point chain in Germany.
Frasers Group finance chief Chris Wootton has slammed the UK government for its handling of the coronavirus crisis and store reopening plans from a business viewpoint as a two-week opening delay means more lost sales.
Nordic sporting goods retailer XXL is bringing back its furloughed employees in Norway and Finland as demand rebounds after the coronavirus downturn that began in March, the Oslo-listed company said on Tuesday.
Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
US brand Vans, launched in the midst of the 1966 skate scene, is supporting its retailers through its e-commerce site. Custom Vans have been created by the stores, which will receive a portion of the profits.
M&S has plans to hibernate some of its SS20 stock as it reveals a big sales hit due to the pandemic. But the firm is upbeat and says Clothing & Home is progressing, even though fashion retail will change post-crisis.
The owner of Vans, The North Face and Timberland managed an impressive transformation in the fiscal year ended March 28, 2020, achieving a 2% increase in revenue despite a strong downturn in sales in Q4 due to Covid-19.
The New York-based brand management company announced a 20.7% decrease in first-quarter revenues from continuing operations on Friday, a decline which resulted in a significant widening of the group’s total net loss.