The Danish sports brand set a new sales record for the third year in a row, growing revenue to DKK 2,225 million ($323.0 mm) in 2023 from DKK 2,201 million the year before. But rising inventory costs, high interest rates and bankruptcies of major European customers impacted the bottom line and resulted in a loss of DKK 97 million ($14.1 mm). Management blamed inventory clearance for the reduced profitability, noting that the measures were necessary due to high stock levels at retail ... Log in to view full article.