March 09, 2022
Lost manufacturing capacity from Vietnam’s Q3 factory shutdown resulted in a €1 billion top line hit for Adidas, with an estimated €400 million shortfall in the final quarter of last year, and the balance affecting Q1, 2022.
Net income at the Brazilian footwear maker rose 49% to BRL 81,220,000 ($15.5 mm) over BRL 54,583,000 on 35% higher revenues of BRL 620,005,000 ($118.5 million) from BRL 459,054,000.
Skechers announced a suspension of shipments to Russia an hour ahead of its presentation at the UBS Global Consumer & Retail Conference, noting that its distributor business in Russia and Ukraine account for less than 1% of global sales, with store counts of about 25 in each country.
The clogmaker is the latest industry company to cease operations in Russia following its invasion of Ukraine, noting that only about 2% of its business comes from the country.
The subsidiary of Fanatics, Inc. is launching trading card brand Zerocool, as well as utilizing a DTC platform dedicated to market-based pricing that will use a true Blind Dutch Auction process.
SRAM, which is coming off its Jan. purchase of cycling computer maker Hammerhead, has made its first foray into apparel with the acquisition of 9-year old cycling brand Velocio, for undisclosed terms.