Nike battling $95 billion annual retail theft in stores, warehouses, even trains
Feb 23, 2023 23:31 pm UTC| Economy Business Law Sports
Nike is dealing with an estimated $95 billion in annual retail theft by ratcheting up efforts with local governments to address the problem. Last fall, Nike closed a celebrated outlet store in Portland, Oregon, because...
ASICS America signs 100m sprint world champ Fred Kerley to multi-year deal
Feb 21, 2023 18:59 pm UTC| Economy Business Sports
ASICS America has signed world 100-meter sprint champion Fred Kerley has signed a deal believed to be a multi-year contract. The athletic footwear and apparel company took to its social media pages to share the news,...
Under Armour releases UFC’s official footwear: Dwayne Johnson’s Project Rock
Feb 21, 2023 10:58 am UTC| Economy Business Life Sports
Under Armour has released Dwayne The Rock Johnsons signature Project Rock training footwear line that will serve as the official UFC footwear. With a black, red, and grey color palette, the engineered mesh of the shoes...
New Balance, Miu Miu continue with sneaker colorway collab
Feb 21, 2023 04:24 am UTC| Economy Business Life Sports
Miu Miu and New Balance will be continuing their footwear collaboration by reviving the classic 574 silhouettes with three new colorways: fringed blue, marble-effect cognac denim, and blanched white leather hues. The...
Honda receives multiple offers for F1 partnership
Feb 20, 2023 23:43 pm UTC| Economy Business Sports Nature
Honda has received several offers for a partnership when Formula Ones new engine era starts in 2026. The Japanese car manufacturer has an agreement to build engines for F1 champions Red Bull and sister team AlphaTauri,...
Vietnam’s Nike, Adidas shoemaker to cut 6,000 jobs due to poor demand
Feb 20, 2023 23:29 pm UTC| Economy Business Life Sports
PouYuen Vietnam will lay off 3,000 factory workers and not renew the 3,000 contracts due to very few production orders in 2023 caused by a sigificant drop in worldwide purchasing power, according to Vietnams labor...
Adidas' profit warning leads to Moody's credit rating cut to A3
Feb 19, 2023 23:47 pm UTC| Sports Life Economy Business
Moodys dowgraded Adidas long-term issuer rating from A2 to A3 due to the companys recent profit warning. Theres a possibility of a further downgrade as it maintained a negative outlook on the sportswear maker. On...
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