News Topics
February 15, 2024
Nike Is Laying Off 2% of Workforce as Company Works to ‘Right-Size’ Organization
After months of speculation, Nike confirmed late Thursday that it is laying off 2 percent of its workforce. The move comes after the athletic giant revealed in December that it was taking steps to “streamline” the organization and would look to save up to $2 billion in costs over the...
February 14, 2024
Research: Tai chi may be better at reducing blood pressure than aerobic exercise
A new study finds that tai chi is better than conventional aerobic exercise at lowering blood pressure in middle-aged people with prehypertension. Tai chi is a traditional form of Chinese martial arts, and it's known to increase flexibility and improve balance. New research suggests it may be better than more...
February 13, 2024
Shimano Inc. Confirms California Lawsuit Plaintiffs Seek Class Action Status
Shimano, Inc. confirmed the earlier reporting by the Nikkei Online Edition that a lawsuit was filed in the U.S. claiming damages related to bonded 11-speed Hollowtech II road cranksets sold in the U.S. The company said the lawsuit was filed in The U.S. District Court in California against its subsidiary, Shimano North...
February 13, 2024
Shimano annual sales down 30% in bike division
Shimano announced full-year 2023 sales in its bicycle division of 364,679 million yen ($2.42 billion) on Tuesday, a 29.5% decrease from the year before. Operating income in the division was down 55%, to 65,251 million yen. Forth-quarter sales in the bike division totaled 75,236 million yen, compared to 132,782 million...
February 13, 2024
Brooks Global Sales Were Up 5% to $1.2 Billion in 2023
https://footwearnews.com/business/earnings/brooks-2023-sales-billion-revenues-1203590268/
February 12, 2024
Marathon World Record-Holder Kelvin Kiptum Dies in Car Crash
Marathon world record-holder Kelvin Kiptum, who was set to be a superstar of long-distance running and was a top contender for gold at the Olympics in Paris this year, was killed along with his coach in a car crash in Kenya. Their vehicle was the only one involved in the...
February 12, 2024
After Years of Relying on Help From Salomon for Its Shoes, Arc’Teryx is Stepping Out on Its Own
Since introducing footwear in 2015, performance outdoor equipment company Arc’Teryx has relied on the insights and expertise of fellow Amer Sports brand Salomon. That is about to change. Starting with the spring 2024 season, Arc’teryx is now designing and creating its own footwear collection entirely in-house. FN
February 9, 2024
Las Vegas to welcome the world’s largest indoor track
Las Vegas is about to get one of the most impressive indoor sports venues in the world. The Z Athlete Village, which is planned to span more than 390,000 square feet (3.6 hectares), will be the largest indoor track and field arena ever built, and will have track athletes and...
February 9, 2024
Asics Reports Strong Net Sales, Profits in 2023, But Expects Slowdown in North America This Year
Asics said it reported record sales and profits for 2023, but expects to see a slowdown in North America in 2024. According to the Japan-based athletic brand, net sales in fiscal year 2023 increased 17.7 percent to 570.4 billion yen. Gross profit was up 23.3 percent to 296.9 yen. Net income...
February 8, 2024
Under Armour North America Sales Fall 12 Percent in Fiscal Q3
Under Armour, Inc. saw fiscal third quarter net sales slide 6.0 percent, or 7 percent in currency-neutral (CN) terms, to $1.49 billion in the period ended December 31. Gross margin increased 100 basis points to 45.2 percent of sales, said to be driven primarily by supply chain benefits related to...