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SBD Global/April 25, 2013/Finance

Finance Notes: Activist Groups Threaten Foot Locker Protests Over Adidas Pay Dispute

Three groups of activists announced that they would stage protests outside Foot Locker stores in the U.K., other European countries and the U.S. to force the chain to cut its ties with adidas unless it pays half of the $3.2M in severance payments due to the former workers of an Indonesian clothing factory, which was abandoned by its South Korean owner in Jan. '11. The non-governmental organizations claim that other companies that sourced clothing from the factory have paid their share of the amount (ISPO). ... In the first half of its financial year through March 31, the Lafuma Group’s turnover fell to €102.7M ($133.4M) from €132.3M ($171.8M) in the previous year’s period, meaning a decline of 15.4% (ISPO).
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