All articles tagged with #athletic wear
New Balance is entering the basketball market with a focus on signing top prospects like Cooper Flagg, who is expected to be the top pick in the NBA Draft. The company aims to grow into a top-three global athletic brand by investing in basketball, leveraging Flagg's high profile and potential signature shoe development, as part of its broader strategy to challenge industry giants Nike and Adidas.
Nike is cutting 2% of its global workforce, amounting to over 1,600 jobs, as part of its cost-cutting measures to reinvest in growth areas like sport, health, and wellness. The company aims to save up to $2 billion over the next three years, with most of the savings directed towards accelerating innovation and increasing agility and responsiveness. This move comes after a reduction in annual sales outlook and falling short of second-quarter sales expectations.
Lululemon's shares surged by 15% after the company defied investor worries with a full-year outlook lift amid little pullback from consumers and a sharp rebound in China sales. The company's first-quarter results also beat estimates as the company saw traffic across both its stores and online go up about 30%. Lululemon's exposure to China could be "a solid source of sales and margin upside for the rest of the year," analysts at Barclays wrote in a note.
The Center for Environmental Health (CEH) has warned customers about high levels of BPA in athletic wear, sending legal notices to eight more brands whose leggings, shorts, sports bras, and athletic shirts after testing showed the clothing could expose wearers to up to 40 times the safe limit of BPA, based on standards set in California. The newly tested athletic wear brands include Athleta, Champion, Kohl’s, Nike, Patagonia, Sweaty Betty, Fabletics, and Adidas. The CEH had sent legal notices to the companies last year, giving them 60 days to work with the center to remedy the violations before the group filed a complaint in California state court requiring them to do so.