BERLIN (Reuters) – Adidas (ADSGn.DE) reported a 93% plunge in first-quarter profit and sales off 19%, missing forecasts, and warned of a deeper hit to second-quarter revenue as lockdowns forced the German sportswear maker and other retailers to close stores. F... More »
(Reuters) – Nike Inc, Lululemon Athletica Inc and Under Armour Inc on Sunday said they would close stores in the United States and other markets, joining a growing list of major retailers moving to help limit the spread of the coronavirus. The virus, which beg... More »
BEIJING (Reuters) – Tens of thousands of ethnic Uighurs were moved to work in conditions suggestive of “forced labor” in factories across China supplying 83 global brands, an Australian think tank said in a report released on Sunday. The Australian Strategic P... More »
AMSTERDAM (Reuters) – Nike’s European headquarters in the Netherlands will be closed on Monday and Tuesday after an employee was infected with the coronavirus. Dutch news agency ANP, citing an internal email, reported overnight that the office in Hilversum wou... More »
BOSTON (Reuters) – Activist hedge fund Marcato Capital Management, backed by Blackstone Group and billionaire William Ackman, is shutting down as assets have shriveled after two years of poor returns, sources said on Sunday. Richard McGuire, the firm’s founder... More »
BERLIN (Reuters) – Adidas will start selling a new collection designed with singer Beyonce on Jan. 18 in a relaunch of her Ivy Park brand that includes shoes, clothes and accessories, mostly in maroon, orange and cream. Adidas described the collection, which f... More »
MANILA (Reuters) – To some athletes, brands count for everything when it comes to performance. Filipina schoolgirl Rhea Bullos bagged three gold medals at an athletics competition this week without wearing shoes, opting instead to wrap her feet in tape and dra... More »
NEW YORK (Reuters) – Shoemaker Skechers USA Inc (SKX.N) is expected to post earnings growth on pace with Nike Inc (NKE.N) over the next three years, giving its relatively low valuation a chance of catching up, financial newspaper Barron’s reported in its Dec. ... More »
(Reuters) – Under Armour Inc (UAA.N) is under investigation by U.S. federal law enforcement officials over whether the sportswear maker shifted sales from quarter to quarter to appear financially healthier, the Wall Street Journal reported on Sunday. The Balti... More »
(Reuters) – LeBron James weighed in on the controversy between China and the NBA on Monday, saying that Houston Rockets general manager Daryl Morey “wasn’t educated” when he sent a tweet in support of protesters in Hong Kong this month. Morey’s tweet of suppor... More »
PARIS (Reuters) – Nine-year-old Daisy-May Demetre, whose legs were amputated due to a birth defect, will become the first double amputee to walk the runway in Paris Fashion Week on Friday, when she will model for children’s wear label Lulu et Gigi inside the E... More »
(Reuters) – Italy’s Tod’s appointed a former Google executive as chief digital and innovation officer to ramp up its ongoing digital transformation, the shoes and leather goods company said on Friday. Alessandra Domizi, previously the Industry Head – Fashion &... More »
(Reuters) – U.S. President Donald Trump’s next round of tariffs on Chinese imports is scheduled to take effect starting on Sunday, escalating the trade war between the world’s two largest economies with a big hit to consumer goods. Trump has targeted some $300... More »
BERLIN (Reuters) – Online fashion retailer Zalando (ZALG.DE) has launched a pilot to deliver orders placed by customers in Paris on the website of Adidas (ADSGn.DE) as it extends moves to allow brands to use the logistics network it has built for its own ecomm... More »
(Reuters) – A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction. The so-called Nike “Moon Shoe,” designed by Nike co-founder and track coach Bill Bo... More »
NEW YORK (Reuters) – Move over Monet. Nike is hot on your heels. Sotheby’s in New York announced on Thursday its first-ever auction dedicated to sneakers, underlining their fast-growing status as collectibles able to command tens of thousands of dollars. Sothe... More »
WASHINGTON (Reuters) – A wide range of U.S. companies told a hearing in Washington on Monday that they have few alternatives other than China for producing clothing, electronics and other consumer goods as the Trump administration prepares new tariffs on remai... More »
OMAHA, Neb. (Reuters) – Preventing injuries from running shoes is a science for Jim Weber, the chief executive of Brooks Running, a unit of Warren Buffett’s Berkshire Hathaway Inc. “The worst nightmare is to get injured,” Weber said in an interview during Berk... More »
WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin are in Beijing this week as Chinese and American negotiators try to hammer out a trade deal to ease a trade war and avert an increase in U.S. tariffs ... More »
NEW YORK (Reuters) – In late 2017, several well-known hedge funds made bets on companies selling goods considered non-essential by consumers and on companies processing raw materials, according to filings with the U.S. Securities and Exchange commission publis... More »
An employee wipes a Samsung Electronics’ smartphone at its booth in Pyeongchang, South Korea, February 2, 2018. REUTERS/Kim Hong-Ji SEOUL (Reuters) – All of the almost 3,000 athletes competing at the upcoming Pyeongchang Winter Olympics are set to get perks in... More »
FILE PHOTO – William Ackman U.S. on November 10, 2015. REUTERS/Brendan McDermid/File Photo NEW YORK (Reuters) – Billionaire investor William Ackman said on Thursday that his hedge fund Pershing Square Capital Management made a new bet on sportswear company Nik... More »
BOSTON (Reuters) – A handful of hedge funds ended 2017 with double digit returns, their investors said, at a time the $3 trillion industry took in fresh money and posted its best returns in years, industry data show. Activist hedge fund Marcato Capital Managem... More »
FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., December 28, 2016. REUTERS/Andrew Kelly/File Photo SAN FRANCISCO (Reuters) – Investors saddled in 2017 with the market’s worst performers, incl... More »
BOSTON (Reuters) – Deckers Outdoor Corp beat back a challenge from activist hedge fund Marcato Capital Management, but shares of the maker of UGG boots fell more than 4 percent on news that all its directors had been re-elected. Shareholders voted to return al... More »
BOSTON (Reuters) – Proxy advisory firm Institutional Shareholder Services on Wednesday suggested shareholders back hedge fund Marcato’s choice of directors at Deckers Outdoor Corp, switching its recommendation after the U.S. fund made changes. In one of the se... More »
(Reuters) – Two proxy advisory firms on Friday weighed in on one of the year’s most bitter proxy battles with one backing UGG boot maker Deckers’ management and the other giving partial support to activist hedge fund Marcato Capital Management. Shareholders wi... More »
Adidas has launched the first of six planned city-themed running shoe models in London as it capitalizes on its first Speedfactory, which it has opened in Germany and equipped with time-saving robotics. More »
British designer Paul Surridge debuted in Milan with his first collection for Italian fashion house Roberto Cavalli, showing tight-fitting designs and animal prints that he said were an attempt to find a new type of sensuality. More »
Prada's chief executive and creative director Miuccia Prada said on Thursday she did not want to be judged by sales but that her designs offered ideas to women of how to be strong and combative. More »
FILE PHOTO: The logo of Nike (NKE) is seen in Los Angeles, California, United States, April 12, 2016. REUTERS/Lucy Nicholson/File Photo EU antitrust regulators opened an investigation on Wednesday into U.S. footwear maker Nike (NKE.N), Comcast’s (CMCSA.O) Univ... More »
Ivanka Trump attends a meeting at the Sant’ Egidio Christian community in Rome, Italy, May 24, 2017. REUTERS/Yara Nardi The U.S. State Department called on Monday for the immediate release of three labor rights activists who conducted an investigation into a C... More »
A worker makes a regular check on machines in a textile factory in Diyarbakir March 21, 2017. REUTERS/Umit Bektas In Turkey’s mainly Kurdish southeast, deeply scarred by conflict between state forces and militants, a textile firm that supplies companies across... More »
An Under Armour logo is seen on a running shoe on display at an store in Chicago, Illinois, U.S., October 25, 2016. REUTERS/Jim Young Shares of sports apparel and shoe maker Under Armour Inc (UAA.N) could rise 30 percent and the company is likely to increase s... More »
A woman poses in a Nike hijab being developed for Muslim women athletes, in an undate photo released by the company March 8, 2017. Vivienne Balla/Nike/Handout via REUTERS Nike Inc (NKE.N) will launch a hijab for female Muslim athletes early next year, becoming... More »
A model presents a creation from the Giorgio Armani Autumn/Winter 2017 women collection during Milan Fashion Week, in Milan, Italy February 27, 2017. REUTERS/Stefano Rellandini Once again Italian designer Giorgio Armani stunned with bright and eloquent colors ... More »
Mo Farah of Great Britain jobs past coach Alberto Salazar in the Bird’s Nest Stadium at the Wold Athletics Championships in Beijing, China, August 21, 2015. REUTERS/Lucy Nicholson/Files Alberto Salazar, the coach of Britain’s Olympic champion Mo Farah, has bee... More »
A model presents a creation from the Fendi’s Autumn/Winter 2017 women collection. REUTERS/Alessandro Garofalo Italian fashion house Prada brought to the catwalk soft and strong designs in an attempt to define the role of women in society, in a powerful show en... More »
A model presents a creation from Moschino’s Autumn/Winter 2017 women’s collection during Milan Fashion Week in Milan, Italy, February 23, 2017. REUTERS/Stefano Rellandini “Couture is an attitude, not a price point”, read the plain white t-shirt over sturdy lea... More »
Model Gigi Hadid presents a creation from the Fendi’s Autumn/Winter 2017 women collection during Milan’s Fashion Week, in Milan, Italy February 23, 2017. REUTERS/Stefano Rellandini Milan’s fashion elite strolled down an elegant street in “Rome” on Thursday, sp... More »
Italian designers Tommaso Aquilano and Roberto Rimondi acknowledge the applause at the end of the Fay Autumn/Winter 2017 women collection during Milan’s Fashion Week, in Milan, Italy February 22, 2017. REUTERS/Stefano Rellandini The curtain went up on Milan’s ... More »
U.S. President-elect Donald Trump sits with PayPal co-founder and Facebook board member Peter Thiel, Apple Inc CEO Tim Cook, Oracle CEO Safra Catz and Tesla Chief Executive Elon Musk during a meeting with technology leaders at Trump Tower in New York U.S., Dec... More »
Discount sale tags are seen on clothes at a department store in Paris on the first day of the winter sales in France, January 6, 2016. REUTERS/Benoit Tessier/File Photo Retailers have long relied on sales of high-margin winter coats and boots to boost annual p... More »
A logo of Adidas company is seen on a building in Minsk, Belarus September 29, 2016. REUTERS/Vasily Fedosenko The new boss of Adidas (ADSGn.DE) announced plans on Thursday to overhaul struggling fitness brand Reebok and keep up the focus on reviving the main A... More »
Models present creations at the Prada fashion show during Milan Fashion Week Spring/Summer 2017 in Milan, Italy, September 22, 2016. REUTERS/Max Rossi Retro trenchcoats, feathered cuffs and brightly colored patterns hinting at the 1960s and 70s were among the ... More »
LONDON World shares hovered close to one-year highs on Thursday as oil prices dropped for a third straight day and the latest interest rate cut in a developed market – this time New Zealand – got a lukewarm reaction from investors. The slip in crude markets le... More »
LONDON A London temporary worker, sent home for wearing flat shoes, has collected more than 120,000 signatures so far in a petition calling for Britain to make it illegal for a firm to require women to wear high heels at work. Reaching that total on Friday eas... More »
In the day following Russian tennis star Maria Sharapova’s admission that she failed a drug test, sponsors Nike, Porsche and Swiss watchmaker Tag Heuer dropped her like a hot potato. Before social media demanded instant responses, sponsors often waited weeks o... More »
SAN FRANCISCO Snapchat, maker of a free mobile app that lets users send videos and messages that disappear in seconds, is struggling to gain traction with advertisers, fuelling investor concern that its $16 billion valuation isn’t justified by a business that ... More »
LONDON London Fashion Week has sharpened its business focus over the past few years to usher in a new generation of fashion designers who blend creativity with a healthy dose of commerce. Long known as the little sister to Paris, Milan and New York, London is ... More »
NEW YORK From rubber-soled footwear in the 1830s to a spike running shoe in the 1860s and luxury creations by designers Christian Louboutin and Prada, a new exhibit traces the history of sneakers from their humble beginnings to iconic status. “The Rise of Snea... More »
