Genesco Inc. announced that the company is initiating a formal process to explore the sale of its Lids Sports Group business. The company believes the “best long-term interests of the company and its shareholders to focus on building upon our core footwear platform,” while the Lids business is undervalued as part of Genesco.
Remington Outdoor Company is planning to complete a debt restructuring in bankruptcy proceedings. The plan calls for the reduction of approximately $700 million of Remington’s consolidated outstanding indebtedness and the contribution of $145 million of new capital into Remington’s operating subsidiaries.
Iconix Brand Group announced it has reached agreements with holders of approximately $110 million principal amount of the company’s 1.5 percent convertible notes due March 2018 to exchange their 2018 convertible notes for new senior subordinated convertible notes and cash payments representing accrued but unpaid interest on the 2018 convertible notes. The exchange is designed to satisfy near-term debt obligations and improve its balance sheet. Iconix also announced a cost savings initiative to improve its profitability and free cash flow.
In a letter to the board of Newell Brands, Starboard Value LP said it plans to nominate three former Jarden executives (Ian G.H. Ashken, Martin E. Franklin and James E. Lillie) and a former long-time Newell Director (Domenico De Sole) to its slate of 10 director candidates to oversee a turnaround of the company.
Amer Sports promoted Dave Marrinan to national sales director, Team Sports, and Jon Hanson to national sales director, Outdoor.
Lululemon Athletica founder Chip Wilson sold 2.75 million shares, according to a regulatory filing.
Dick’s Sporting Goods said its board of directors authorized an increase in its quarterly dividend by 32 percent.
L.L. Bean ended its lifetime-returns policy due to rampant abuse in recent years. The retailer has initiated a new one-year limit on returns. A customer later in the week filed a lawsuit against L.L. Bean for ending its unlimited-return policy.
Billabong International Limited said it will hold a shareholder meeting on March 28 to vote on its merger with Boardriders.
Mad Engine LLC, a leading full-service apparel company, formally announced that it has completed its acquisition of Mighty Fine Inc.
Olla LLC, the parent company of PickleballCentral.com, announced that it has completed the acquisition of PickleballTournaments.com.
Fitbit announced that it will acquire Twine Health, a health coaching platform that empowers people to achieve better health outcomes and helps health systems, health plans and workplace health providers lower healthcare costs.
OnXmaps, Inc., provider of the onX HUNT mobile app and industry leader in mobile mapping technology for outdoor adventurers, announced it has raised $20.3 million in a funding round led by global growth equity investor Summit Partners.
Uncharted Supply Co., the emergency preparedness company behind The Seventy2, the 72-hour survival kit, has partnered with Los Angeles-based The Chernin Group (TCG).
Schutt Sports expands Midwest reconditioning business with partnership with Gridiron Sports Reconditioning.
Frank A. Dassler retired from Adidas at the end of January. The grandson of Puma founder Rudolf Dassler was most recently head of the Adidas legal department and will remain closely associated with the sports equipment company in retirement.
U.S. Soccer’s membership elected Carlos Cordeiro as U.S. Soccer’s 32nd president.
Wellness Workdays, a leading provider of corporate wellness programs, has been selected by New Balance to implement the next phase of the company’s corporate wellness initiative.
Kering reported that Volcom recorded €230 million in revenue in 2017, down 4.7 percent as reported and down 3.2 percent at constant exchange rates.
Moody’s Investors Service downgraded the corporate family rating (CFR) and senior secured first lien term loan rating for Toms Shoes, each to Caa3 from Caa2.
POC, a leading manufacturer of ski and cycling helmets, eyewear, apparel and protection, has appointed cycling industry veteran Ben Coates as managing director for North America. Coates joins POC following fifteen years at Trek Bicycle.
Hilco Vision, a provider of eyewear and eye care products, hired Nick Gomez as its new consumer accessories product manager, responsible for its Croakies and Leader Swim brands.
Mountain Khakis announced Katie Spikes, formerly at Lowe’s Companies,has joined their team as senior e-commerce manager.
GroupeSTAHL has appointed Debra Romalia as vice president, content marketing.
Barnes & Noble announced that Timothy Mantel has been named chief merchandising officer. Mantel previously held the role of chief merchandising officer for GNC Corporation.
Therm-a-Rest, a leader in premium outdoor camp comfort, welcomed industry veteran Greg Dean to the team as its new brand director.
Puma and Italian Serie A football club AC Milan announced an official long-term partnership. The legendary club had been with Adidas since 1998.
Nike signed Saquon Barkley, the Penn State running back expected to be the first running back selected in the upcoming NFL Draft, to an endorsement deal.
Timed for NBA All-Star 2018, the @HouseOfHoops Instagram account was launched with content featuring everyone from NBA players Kyle Kuzma, Devin Booker and Andre Drummond, to social influencers including King Imprint, Keone, Kid the Wiz and Lavaado.
Ahead of the NBA All-Star Game, ’47 announced the launch of a limited-edition collection of headwear and apparel designed by famed graffiti artist OG Slick.
Fanatics said Thursday it has seen an 80 percent increase in Team USA merchandise sales in the five days since the Opening Ceremony versus five days after the Sochi Opening Ceremony.
For the 21st consecutive year, REI was recognized as one of the nation’s top employers, ranking 43 on Fortune’s “100 Best Companies to Work For” list.
VF Corp. has been recognized as one of the 2018 World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.
Birkenstock has received the peta2 Libby Award “Most Vegan-Friendly Shoe company 2017.”
The National Shooting Sports Foundation (NSSF) reported that January 2018 NSSF-adjusted National Instant Criminal Background Check System (NICS) was down 8 percent versus the year ago.
Runway Group, an entity controlled by Tom and Steuart Walton, announced the addition of Brendan Quirk, the president of Rapha North America, as its cycling program director. Quirk will be responsible for positioning Northwest Arkansas as a leading region for the incubation and recruitment of cycling-related brands, an innovator in cycling infrastructur and a bucket-list destination for bike tourism.
An improving economy fueled a healthy 5.4 percent increase in retail sales year-over-year in January, the National Retail Federation said. Among sectors, sporting goods stores showed the only year-over-year decrease, down 5.9 percent.
The World Surf League announced that it will not hold the Billabong Pipe Masters Surf Meet on Oahu in 2019. WSL has been seeking to change the dates on its requested dates of two of its tournaments—the Billabong, which historically has run in December, and the Volcom Pipe Pro, which is held in January.
Photo courtesy Lids