Wolverine World Wide Inc. lifted its annual guidance after reporting adjusted earnings grew 45 percent in the first quarter on a 16 percent sales gain. Merrell revenue grew nearly 25 percent, and Saucony revenue was up nearly 60 percent. “We believe 2021 will be a breakthrough...
Adidas’ Supervisory Board extended the appointment of Executive Board member Martin Shankland, responsible for Global Operations, by five years beyond 2022 until 2027. Martin Shankland has been a member of the Executive Board of Adidas AG since 2019. “I am very pleased to announce that Martin’s appointment...
Asics Corporation reported sales rose 24.8 percent in the first quarter. Sales in the North America region rose 20.1 percent on e-commerce gains and the region returned to profitability. Companywide, sales reached ¥106,549 million against ¥85,341 million a year ago. Asics said that despite the effects...
Puma has appointed Hubert Hinterseher as its new chief financial officer and Arne Freundt as its new chief commercial officer starting June 1. Hinterseher has been with Puma for 16 years, most recently as the global director of financial controlling. As CFO, he will be responsible for...
Adidas has launched the auction to sell its Reebok brand with the first round of bids to be submitted next week, according to a report from Reuters. On February 16, Adidas AG formally announced plans to divest its underperforming Reebok brand after announcing last December it...
Sequential Brands Group Inc. announced that it has closed on the sale of its Heelys brand to BBC International for $11 million in cash proceeds. BBC had been licensing the Heelys’ brand from Sequential Brands since 2013. The partnership came soon after Sequential Brands acquired the...
Under Armour announced plans to redevelop its waterfront land in South Baltimore’s Port Covington as a global headquarters by 2025. Under Armour described the development as a “reimagine for a post-COVID environment” that will downsize its global corporate and Americas regional functions into one location...
In honor of Earth Day, The North Face is introducing a new sustainability-focused “vision” it calls “Exploration Without Compromise,” which outlines a series of actionable commitments the company will implement over the next few years. Those commitments include that 100 percent of the top materials...
StockX LLC said it had notched a $3.8 billion valuation by selling $60 million of new stock and letting some employees sell $195 million of their shares to investors at that price point. In a statement, the online marketplace that sells sneakers, streetwear, collectibles, and other...
Nike ranked as the world’s most valuable apparel brand for the seventh consecutive year, although the brand value was down 13 percent to US$30.4 billion, according to the Brand Finance Apparel 50 2021 report. Nike still maintains a considerable lead over second-ranked Gucci, with a brand...