Germany’s Adidas has launched the SS23 Road Cycling collection. The collection is a range of apparel which will help people clip-in to the power of cycling and become part of the community on the move. The Road Cycling Shoe 2.0 builds on the performance of its iconic sibling for a supportive yet comfortable fit that keeps feet fresh and rides powerful.
Delta Galil, Israeli manufacturer and marketer of branded and private label intimate apparel, leisurewear, activewear, and denim products for men, women, and children, has appointed Mark Stocker as president, Delta Galil branded division, effective January 30, 2023. He will be based in New York and will report directly to Delta Galil CEO, Isaac Dabah.
Steven Madden, a leading designer and marketer of fashion-forward footwear, accessories, and apparel, has reported a revenue growth of 13.7 per cent to $2,122 million in fiscal 2022 (FY22), compared to $1,866.1 million in FY21. The gross profit as a percentage of revenue increased to 41.2 per cent in FY22 compared to 41.1 per cent in the previous fiscal.
US’ Major League Soccer (MLS) and German sportswear brand Adidas have announced a multi-year extension of their partnership. Under the multi-faceted agreement, Adidas will continue as the official supplier for the league, its clubs, and youth academies. The extension was unveiled as part of a series of events surrounding the MLS is Back kick-off week.
American apparel and footwear company, Wolverine Worldwide, has reported a revenue of $2,684.8 million in fiscal 2022 (FY22), reflecting an 11.2 per cent increase compared to the previous year, and a 14.1 per cent growth on a constant currency basis. However, the company’s gross margin in FY22 decreased from 42.6 per cent to 39.9 per cent.
Despite a recent cooling in headline CPI inflation rates across many economies, central banks across the globe are still raising interest rates due to the fear of persistent underlying inflationary pressures, as per Fitch ratings. Headline CPI inflation rates moderated in recent months and showed the first signs of abating in many of Fitch 20 countries.
Dick’s Sporting Goods, a leading omnichannel retailer, has announced that it will acquire Moosejaw, a prominent outdoor retailer. This acquisition is expected to enhance Dick’s outdoor portfolio, which is currently led by its specialty retailer, Public Lands. The move will also reaffirm Dick’s commitment to the growing multibillion-dollar outdoor category.
Planned global electricity generation from committed solar and on- and off-shore wind projects (except China) will more than treble from 125 gigawatts to 459 gigawatts between 2021 and 2030, McKinsey estimates. This could further accelerate as nations seek to make renewables part of their strategy to address the current geopolitical energy crisis, it noted.
US’ private sector economy has signalled stability as its headline flash composite output index registered at 50.2 in February 2023. The latest reading was the highest for eight months and signalled broadly unchanged output on the month across the private sector. Private sector businesses were confident about their output outlook over the coming year.
India’s gross domestic product (GDP) is projected to grow 5.9 per cent YoY in fiscal 2024 (FY24), as per India Ratings and Research (Ind-Ra). Although National Statistical Organisation’s (NSO) first advanced estimate (AE) of FY23 GDP is 7.0 per cent, it does not expect the growth momentum witnessed in the first half of FY23 (1HFY23) to sustain in 2HFY23.