The parent company of Sports Direct boosted its position in the German sportswear maker according to regulatory filings disclosed on Thursday.
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The parent company of Sports Direct boosted its position in the German sportswear maker according to regulatory filings disclosed on Thursday.
Both companies will work out of a joint laboratory in Suzhou, China to research new materials and high-performance midsole components.
The German sportswear maker also revealed on Wednesday that it will launch a transition in its supervisory board as it nominates a new chairman.
The company surpassed 3 billion Swiss francs for the first time last year as shoe sales rose 20.8 percent with apparel soaring 38.3 percent in its fourth quarter.
Wilson has already proposed replacing at least three directors and told shareholders on Friday that a “quantum of change” is needed at the brand.
The sportswear maker revealed on Thursday that its North American and European regions saw huge growth at more than 20 percent and 30 percent, respectively.
CEO Kevin Plank touted the brand’s resilience in the face of major hurdles in December that marked a clear point of its ongoing turnaround.
The sportswear maker revealed on Thursday that robust sales in China helped push the brand to record growth last year.
The fitness brand confirmed that it will trim its staff as part of an ongoing plan to save $100 million by the end of fiscal year 2026.
The sportswear maker said on Thursday that solid sales in the fourth quarter of 2025 came as a result of stable pricing despite U.S. tariffs.