Racks of England’s new Nike designed football shirt, with the controversial St George’s cross, are displayed for sale in a central London store on March 22, 2024. Daniel Leal | Afp | Getty Images LONDON — U.K. Prime Minister Rishi Sunak on Friday said Nike was wrong to “mess with” the design of the flag … Read more
Adidas shoes are displayed at a DSW store on January 31, 2024 in Novato, California. Justin Sullivan | Getty Images Adidas on Wednesday warned of a sales decline in its overstocked North American market in 2024, as the German sportswear brand continues to sell off its remaining Yeezy inventory. Currency-neutral sales in North America are … Read more
Tiger Woods at the practice range on April 5, 2022, before the start of the 2022 Masters at Augusta National Golf Club in Augusta, Georgia. Brian Spurlock | Icon Sportswire | Getty Images Tiger Woods and TaylorMade have made it official. The golf great has agreed to create a new apparel and footwear performance and … Read more
Tristan Fewings/Getty Images LONDON — Superdry shares soared more than 100% on Friday, as the embattled British fashion retailer confirmed that co-founder and CEO Julian Dunkerton is considering taking it private. The stock peaked at 48.55 pence (62 cents) per share shortly before 11 a.m. London time and was last trading at around 46 pence … Read more
Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during a press conference to present the 2023 annual results of LVMH in Paris, France, January 25, 2024. Benoit Tessier | Reuters LVMH shares jumped more than 12% on Friday morning, after the world’s largest luxury group posted higher-than-expected sales for 2023 and … Read more
Nike shares plunged Friday after the athletic apparel maker cut its revenue outlook for the fiscal year, with sneaker retailer Foot Locker also feeling the blow. Nike fell more than 10%. Foot Locker, which relies heavily on Nike products in its stores, was down over 5%. Nike said in its earnings report Thursday that the … Read more
Richard Dickson, CEO of Gap Inc. Courtesy: Gap Inc. New Gap CEO Richard Dickson has spoken about his experience upon joining the struggling company from toy business Mattel in August. “You barely knew what we were actually selling,” he said on Wednesday, describing how the firm’s four apparel brands had leant heavily on promotions and … Read more
Black Friday shoppers pick out clothing in a Lacoste store as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November 24, 2023. Vincent Alban | Reuters Black Friday e-commerce spending … Read more
A package from Temu is seen in front of a screen with the Temu logo. (Photo by Nikos Pekiaridis/NurPhoto via Getty Images) Nurphoto | Nurphoto | Getty Images Chinese low-cost retailer Temu is dominating app stores in Japan and South Korea in its category, dethroning rival Shein after its successful expansion in Western markets. “Temu … Read more
Shoes are offered for sale at an Adidas store in Chicago, Feb. 10, 2023. Scott Olson | Getty Images Adidas on Tuesday hiked its full-year guidance and posted stronger-than-expected third-quarter earnings, aided by sales of its Yeezy inventory. The German sportswear giant, in surprise preliminary estimates release, projected a full-year operating loss of 100 million … Read more